Schulich Alum Shares His Experience, and More – Toronto News
Toronto’s business schools have seen some exciting developments from students, alumni, and faculty this week. Let’s take a look at some of the high points.
Alumni Stories: Michael Zanella – MMgt – Schulich School of Business
A Schulich School of Business alum was recently profiled on his time in the school’s new 12-month Master’s of Management program.
Michael Zanella, a 2017 graduate, who turned his education into a role with Ceridian Dayforce as an Implementation Consultant Associate. You can watch his full interview below.
Wine, Beer, Spirits Brand-Builder WX Names Michael Lukan CFO – North Bay Business Journal
Michael Lukan was recently named the official new CFO of WX Brands, a company that creates wine, beer, and spirits. Lukan, an alum of Western University Canada’s Ivey Business School, co-founded Wine Hooligans in 2013. He has also worked at Purple Wine Company and Sonoma Wine Company. With news of the Lukan’s arrival at the company, WX Brands President and CEO Peter Byck says, “His well-rounded experience and entrepreneurial mindset will make him a great asset for WX Brands to continue to build on our tremendous growth.”
Regarding his new role, Lukan says, “Peter and the WX team have positioned the company for tremendous growth by delivering an exceptional customer experience and I’m looking forward to helping realize this opportunity.”
You can read more about Lukan and WX Brands here.
What Is Less Scary in the Dark? – Scientific American
Ping Dong, a Professor at Northwestern University’s Kellogg School of Management, and Chen-Bo Zhong, Professor at the University of Toronto Rotman School of Management, recently conducted a study that examined the, “impact of visual darkness on people’s perceived risk of contagious-disease transmission.” The researchers predicted that the darkness would make people feel more separate or insulated from one another, so they would be less squeamish about the germs of those around them. In fact, the study concluded that being in a darker environment would make subjects reduce their caution when it came to unethical behavior, of which might include cheating on one’s significant other and other acts of selfishness.
Their research showed that perceived risk of contracting airborne illnesses decreased when participants were in more dimly-lit rooms, as well as when they were wearing sunglasses. “In addition,” writes Scientific American writer Cindi May, “visual darkness increased participants’ perceived distance from the confederate, and this increase in distance mediated the reduction in perceived risk of contagion in the dark. Their fear of non-contagious diseases did not depend on the lighting.”
You can read more about the duo’s research here.
MBA Job Types: Entry Level v. Experienced
Contrary to popular misconception, choosing to pursue an MBA degree is a decision that can be made at any point in your career. From programs that allow students to jump right in to their degree after undergrad to those that require over ten years of work experience, the wide variety of degree programs means there’s no one way to get your MBA. Because of this, there are a large variety of MBA job types.
However, professional experience is still an important part of an individual’s career development, Even a group of MBAs—having the same foundational business education—will likely find differences in the kinds of jobs they can find after graduation, the levels of pay, and the kind of skills required for these jobs, based on their professional experience. Below, we break down some of the major differences you’ll find between MBAs just starting their careers and those with more professional experience.
MBA Job Types
One of the first major differences for MBAs (and non-MBAs) at the entry level versus those with more experience is the types of jobs available to them. Even though having an MBA degree often helps professionals accelerate their careers and reach higher level management positions, it is unlikely that an MBA with little experience will jump immediately into these senior management roles.
Below are some common entry-level MBA jobs:
- Accountant: an accountant is responsible for maintaining company and personal financial records. Typically, students who pursue accounting specializations within their MBA degrees are prepared to pass the rigorous CPA examination by the time they complete their degree and begin in entry or mid level accounting jobs.
- Medical and Health Services Manager: Healthcare Administration is a quickly growing career for many MBA graduates, with many schools now offering majors or specialization in the field. According to data Bureau of Labor data in 2016, openings in the medical and health services management field are expected to grow by 20% over the next ten years.
- Financial Advisor: Financial advisors are crucial for all types of organizations, which might be why finance is one of the most popular MBA majors. Most MBAs with a high GPA and internship experience already have the requirements needed to get started in a financial advisor position.
Below are some common jobs for experienced MBAs:
- Accounting Manager: accounting managers are responsible not just for overseeing the company’s finances, but also the daily activities of the accounting department. With more experience, certified CPAs have more opportunities to leverage their MBAs into senior management roles.
- Hospital CEO: MBAs with extensive experience, typically 8-10 years, in healthcare administration may take roles in high level positions like Hospital CEO, the highest ranking official in a hospital organization.
- Financial Manager: at least five years experience or more are required for jobs in finance management, which expects candidates to have a lot of hands on experience. Financial Managers oversee all aspects of company or personal finance.
Levels of Pay
It might go without saying that more experience probably means a higher salary. Even though MBAs do make, on average, more than those without an advanced business degree, that number will continue to climb the more experience you get.
- For a field like accounting, Accountants with an MBA degree will make an average of $51,022 per year, while roles that require more experience, like an Accounting Manager, will make close to $72,489 a year.
- In the healthcare management field, a Healthcare Administrator will make on average $74,188 per year while a Hospital CEO will make significantly more at $164,332
- For those in the field of accounting, there is also a significant difference depending on experience. For a role like Financial Advisor, employees make $58,652 per year on average, compared with $99,115 each year for a Financial Manager.
Skills and Experience Required
Another major difference for entry level and experienced MBAs is the type of experience and skills required for their particular roles. Research has often shown that an MBA education provides a number of so called “soft skills” which are often sought by employers, and are important for many entry-level jobs. These skills may include things like the ability to work in a fast-paced environment, critical thinking and problem-solving skills, the ability to communicate effectively, leadership potential, and the ability to take risks.
Conversely, those seeking higher level jobs that require more experience will likely find job posting that ask for specific, industry-related knowledge, and experience. These employers might ask applicants to demonstrate prior experience in the industry and show proven success within their field.
Different Types of Companies
Each year, top companies from around the world recruit MBA talent. Many major companies, like CVS and New York MetLife even offer MBA training/acceleration programs that hire recent graduates and fast track them to a management position within the year. Still, two companies—Apple and McKinsey & Company—which consistently make the list as top companies for MBAs to work for typically require anywhere from 7-15 years experience for some of their senior level MBA jobs.
For entry level MBAs, getting a foot in the door at these companies may mean starting with an internship or as part of a special MBA recruitment program, whereas those with both the degree and several years of experience may have an opportunity to jump right in at the senior level.
Don’t Forget These August MBA Deadlines
While many prospective business school students are in the midst of relaxing during the apex of summer, a handful of application deadlines are on the horizon near the start of the next academic year. Here are the August MBA deadlines you need to know!
MBA Recruiter: Starting Your MBA Career with Cisco Systems
Cisco Systems, a leader in computer networking, is constantly looking for MBA talent. Founded in 1984 by two computer scientists from Stanford University who sought an easier way to connect different types of computer systems, the multinational corporation now hires MBAs from top business school across the country. Continue reading…
Monday Links: New MBA Jobs at Wolters Kluwer, BMO, and More
The ultimate goal of all MBA candidates is to get the best possible job following graduation. With so many great companies recruiting so many talented MBAs, it’s hard to stay on top of all the MBA jobs out there! Here’s a selection of some of the top open positions out there right now:
10 Highest GPA Averages in the Business School World
The role of a GPA in MBA admissions is a hotly debated topic among both admissions officers and applicants. How much does it really matter? Does a low GPA destroy your chances of getting into a top business school?
One of the most important things to keep in mind when considering how your undergraduate GPA will impact the MBA admissions process is the fact that not all GPAs are alike. Far from a standardized figure, GPA and the way it’s measured can vary from school to school- even major to major. For this reason, it can be difficult to use the GPA’s of different applicants as any accurate predictor of success.
An student’s GPA will always be an important part of the admissions process, because it helps tell admissions officers about past academic success. Still, admissions officers are well aware of the high level of variability between GPA scores. Taking this into account, most officers working in MBA admissions will always look for more to an individual’s story than just the GPA. Numbers like a GMAT/GRE can often paint a much more exact picture of future academic success than the highly variable GPA. Designed for standardization and to test individuals on the specific challenges of an MBA, a GMAT score allows admissions officials specific insight into each application.
When considering GPA, a general rule of thumb is to not ride or die by this number—whether for better or for worse. A low undergraduate GPA doesn’t necessarily spell disaster for one’s MBA ambitions, and even a perfect 4.0 can’t save an application if the other factors don’t add up.
Overall, the exact number of an undergraduate GPA may be less important than the story behind it. If your low GPA was a result of illness or another external factor while in school, personal statements on the application are a great opportunity to give context behind the numbers and help tell your story to admissions officials.
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Nevertheless, getting a sense of the average undergraduate GPA for your prospective programs can help give provide crucial insights. Class profiles and statistics for business schools throughout the country can give prospective students a good sense of the typical student looks like in each program, and help applicants decide if they’ll be a good fit.
Below, we take a look at the top 10 MBA programs with the highest average undergrad GPA. Take a closer look at these top schools to get an idea of the average student in each program- and your potential future classmates.
10 Highest GPA Averages for MBAs
1. Stanford University Graduate School of Business
The highest GPA average for MBA students in the U.S. belongs to the class at the Stanford University Graduate School of Business. For the Class of 2019, the average undergrad GPA was 3.74. This is down slightly from the school’s 2015 average of 3.75.
2. Harvard Business School
Often jockeying for position with Stanford, HBS took the number two spot this year with an average undergrad GPA score of 3.71. Three years ago, HBS still loomed large with a 3.66 average, and it just keeps getting higher.
3. Haas School of Business – UC Berkeley
Staying on the heels of Harvard, the Haas School of Business at UC Berkeley takes a top spot today with an undergraduate GPA of 3.7. This is a slight increase from the school’s 2015 average of 3.66.
The Haas School of Business GPA average for MBA applicants rose from 3.66 to 3.7 since 2015.
4. Yale School of Management
Significantly up from its GPA average of 3.6 in 2015, the Yale School of Management today has one of the highest undergraduate GPAs in the country at an average of 3.69.
5. Booth School of Business – University of Chicago
The MBA at University of Chicago’s Booth School of Business has consistently maintained one of the top GPA averages for programs in the U.S., up from 3.59 in 2015 to 3.6 this year.
6. The Wharton School – University of Pennsylvania
The Wharton School, consistently recognized for having some of the country’s top business programs, is nothing if not consistent. With a 3.6 average for incoming students between 2012 and 2015, Wharton maintains a perfect 3.6 average GPA this year as well.
7. Kellogg School of Management – Northwestern University
Northwestern’s Kellogg School of Management is another school where consistency is key. From 2014 to today the school has remained at an undergraduate GPA average of 3.6
The average Kellogg undergraduate GPA for MBA students has stayed at 3.6 since 2014.
8. Tuck School of Business – Dartmouth College
The average GPA for incoming students at Dartmouth’s Tuck School of Business has gone up and down throughout the years, but has consistently stayed among the highest in the country- down slightly from 3.52 in 2015 to 3.51 this year.
9. Columbia University – Columbia Business School
The Columbia Business School has always received distinctions as one of the top MBA programs in the country, and their average GPA for incoming students at 3.5—which has stayed the same for more than five years—is no exception.
10. MIT – Sloan School of Management
Typically placing much higher on the list, the average Sloan School of Management at MIT has decreased in recent years, from 3.54 in 2015 to 3.49 for this year’s incoming class. The number nonetheless still remains among the highest average GPAs for MBA programs throughout the country.
