Los Angeles News: Chapman Alum Returns as New COO, and More
Let’s take a look at some of the biggest news coming out of Los Angeles business schools this week.
Brian’s Journey to COO: An MBA Network That Made Career Aspirations Reality – Chapman University Newsroom
The Argyros School of Business at Chapman University profiled alumni Brian Goodman, whose experience in the Chapman MBA program led him to a role as Chief Operating Officer.
Goodman, who had been working as a corporate attorney, entered Chapman’s EMBA program in the fall of 2015, quickly taking advantage of the many networking opportunities the program offered. It was through one of these MBA-association events that Goodman met Robin Follman-Otta, who would ultimately help shape his career by offering him the COO role at her firm, Markall Incorporated and RA Industries. Although Goodman never expected finding himself in the manufacturing industry, he joined Robin’s company shortly after his May 2017 graduation and has found it a perfect fit. He credits the Chapman EMBA program with providing him both the professional network and experience to make crucial progress in the business world.
Read more about Goodman’s experience at the Chapman EMBA program here.
Brian Goodman, the new COO of the Chapman MBA program / Photo via blogs.chapman.edu
Center for Women in Leadership Hosts Outreach Conference – Pepperdine Newsroom
The Graziado School of Business and Management at Pepperdine University recently hosted the Women in Leadership Reachout Conference on February 13 in Malibu. The day-long event involved discussion panels revolving around issues that impact women in business, such as moving through male-dominated fields, work/life balance, and strategies and goals for mentorship.
“The conference brought C-suite level women to our campus to share real-life stories of making it to the top and thriving once you get there,” said director of the Center for Women in Leadership and Graziado professor Bernice Ledbetter. “Audience members were given a once-in-a-lifetime opportunity to learn from some of the top women executives in the nation.”
The event was presented as a partnership with C200, which also presented $10,000 scholarships to three exemplary female MBA students.
You can read more about the Women in Leadership conference at Graziado here.
How and Why Cal State Fullerton Students Launch Companies Before They Graduate – The Orange County Register
The Orange County Register recently took a deeper look into the New Venture Creation and Funding class at the Mihaylo College of Business. The program, which has about 200 majors, encourages students to create startups even before graduation day—with the full support of mentors and faculty at Mihaylo. The program centers around the idea of the “lean startup,” which looks for market input early on in development. After students have created their pitch, a panel of investors hear their ideas and often are so inspired they offer funding on the spot.
Successful companies from past entrepreneurship students have included a local craft beer maker Bootlegger’s Brewery; a tutor service which helps connects students with tutors who have been through the same class, Wecademi; and an online piano lesson service called Piano with Johnny.
Read more about the Mihaylo entrepreneurship program here.
These LA Business Schools Are Helping Low Income Students Pursue Their Dreams – MetroMBA
Last week, we profiled several schools in the Los Angeles metro area, including the UCLA Anderson School of Management and Marshall School of Business at USC, which provide ample opportunities for in and out-of-state prospective MBA students that need financial assistance with their education. As well, we highlighted many of the offerings available to military veterans.
For low-income MBA applicants who also have a history of military service, there are many unique financial aid opportunities. The exact services available will depend on the school, but some of these programs are available at schools across California and the U.S.
First, there’s the Yellow Ribbon Program, which many Los Angeles business schools take part in, including Chapman University Argyros School of Business. This program awards MBA students up to $6,000 for tuition and fees. Another program open to military veterans is the Post-9/11 GI Bill, which includes payments directly to the university for tuition and fees, a monthly housing allowance, and an annual books and supplies stipend up to $1,000 per year.
Individual schools like the USC Marshall School of Business also offer their own specific scholarships for military veterans. The Schoen Family Scholarship Program for Veterans is available to full-time MBA students at Marshall and has, to date, provided a staggering $1.2 million in financial support to 173 students at the university.
You can read more about the financial opportunities for lower-income applicants here.
These LA Business Schools Are Helping Low Income Students Pursue Their Dreams
For many low-income applicants, unfortunately, the cost of an MBA program is just out of reach. That’s because, by the time you count tuition (often upwards of $80,000), boarding and books ($40,000), and other expenditures, the average cost of an MBA is around $140,000 according to Investopedia. And that’s all before you count lost salary for two years for a full-time MBA program.
What can you do?
For low-income MBA applicants in Los Angeles, California you don’t have to give up on your dreams due to money. Instead, business schools offer many options to help pay for your MBA program.
California DREAM Act
The California DREAM Act of 2011 is currently available to California residents who attended and graduated from high school in the state and are enrolled in an accredited California Institution of Higher Education. If you meet these eligibility requirements, you’ll be given access to California State financial aid and scholarships as well as specific university financial aid programs. In addition, need-based graduate applicants are eligible for the State University Grant (SUG) program, which awards up to $7,176 to help cover tuition.
California State University’s Long Beach College of Business Administration is just one of the MBA programs that provides this type of financial aid to low-income MBA applicants. The College of Business Economics at Cal State L.A. also accepts DREAM Act Applications for student financial aid.
Scholarships
MBA scholarships for low-income applicants are one of the best ways to help pay for your degree program. Scholarships vary by school and can range from a few thousand dollars per year to full-tuition coverage plus a stipend.
At the UCLA Anderson School, there are six unique fellowships available to MBA applicants.
- Donor Fellowships are awarded to MBA applicants based on professional development, intended career, community involvement, and/or financial need.
- Merit Fellowships are awarded based on the strength of a student’s application.
- External Fellowships are available for a variety of different situations and students. One example is the Girard Miller Foundation scholarship, which is awarded to a graduate student preparing for a career in state or local government finance.
Teaching Assistantships
For California MBA students, financial aid doesn’t stop in the first year. For second-year full-time MBA students, many Los Angeles business schools offer Teaching Assistantship (TA) positions. These positions are usually awarded to students who keep their grade point averages above a certain level and who apply and receive an appointment. The award amount varies by business school but, in some cases, covers 100 percent of a student’s services fee and tuition.
At UC Irvine’s Paul Merage School of Business, full-time MBA students who gain a TA appointment receive payment for 100 percent of their Graduate Student Health Insurance Program (GSHIP) premium. They also receive 100 percent of the Student Services Fee and Tuition components per quarter.
Military Veteran Aid
For low-income MBA applicants who also have a history of military service, there are many unique financial aid opportunities. The exact services available will depend on the school, but some of these programs are available at schools across California and the U.S.
First, there’s the Yellow Ribbon Program, which many Los Angeles business schools take part in, including Chapman University Argyros School of Business. This program awards MBA students up to $6,000 for tuition and fees. Another program open to military veterans is the Post-9/11 GI Bill, which includes payments directly to the university for tuition and fees, a monthly housing allowance, and an annual books and supplies stipend up to $1,000 per year.
Individual schools like the USC Marshall School of Business also offer their own specific scholarships for military veterans. The Schoen Family Scholarship Program for Veterans is available to full-time MBA students at Marshall and has, to date, provided a staggering $1.2 million in financial support to 173 students at the university.
Loans
Finally, most low-income MBA applicants in Los Angeles are eligible for federal student loans. Direct PLUS Loans are available to graduate students to help pay for educational expenses up to the cost of attendance. MBA students can request unsubsidized loans up to their full eligibility with an Income-Driven Repayment Plan that allows you to make payments based on your adjusted gross income. In most cases, payment will begin until after graduation.
For MBA applicants at Pepperdine University’s Graziadio School of Business and Management, financial aid loan application for Federal Graduate PLUS student aid and Federal Direct Stafford Loans is easy. The school provides loan counseling for graduate student borrowers, loan calculators, and more.
For more information about how your business school could help cover the cost of your MBA program, visit your school website and contact their financial aid office. Scholarships, loans, and aid opportunities vary per school. The Simple Dollar also has a handy guide on how DACA recipients may be able to handle financial expectations for students around the U.S.
Wharton, Stanford Top Forbes’ 2017 Business School Ranking
For the first time ever, the Wharton School at the University of Pennsylvania topped the biennial Forbes list of the best business school’s in the United States.
Coming in second place on the Forbes 2017 rankings, revealed earlier today, was the Stanford Graduate School of Business, which was followed by Harvard Business School, Northwestern’s Kellogg School of Management, and Dartmouth’s Tuck School of Business rounding out the top five.
Forbes‘ top 10 U.S. business schools (2017)
Rounding out the top 20 were some familiar MetroMBA favorites, such as Columbia Business School (6th), Chicago Booth (7th), MIT Sloan (8th), UC Berkeley Haas (9th), UCLA Anderson (15th), the McCombs School of Business UT-Austin (17th), and the Mays Business School at Texas A&M (20th).
Just making the final cut on Forbes’ newest list, which includes only 70 schools, was the Fox School of Business at Temple University (60th), Pepperdine’s Graziadio School of Business and Management (65th), Northeastern’s D’Amore-McKim School of Business (66th), the Kogod School of Business at American University (67th), and the Gabelli School of Business at Fordham University.
Method To The Madness
Nearly every major publication that reveals its own respective business school ranking list has its own principle methodology in which it follows. For instance, unlike Forbes, the Financial Times ranking system relies more on alumni survey responses for its final ranking. While Forbes does utilize surveys in its ranking, its primary focus is on how graduates fare on their return on investment.
In the ranking release, Forbes staff writer Kurt Badenhausen notes:
“Our ranking of business schools is based on the return on investment achieved by the class of 2012. We examined more than 100 schools and reached out to 17,500 alumni around the globe. We compared graduates’ earnings in their first five years out of business school to their opportunity cost (two years of forgone compensation, tuition and required fees) to arrive at a five-year MBA gain, which is the basis for the final rank. Schools whose alumni had response rates below 15 percent or a negative return on investment after five years were eliminated.”
In regards to Wharton topping the 2017 list, Badenhausen writes, “These days most Wharton MBA students head to finance or consulting jobs upon graduation (79 percent of the class of 2012), which traditionally are the most lucrative areas for MBAs. The concentration in these sectors pushed Wharton’s current total compensation for the class of 2012 to the highest of any school in the world at $225,000.”
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The exceptional cost of living around Stanford and shockingly low admissions rates (6 percent) contributed to the business school falling off its top spot from the prior year. Stanford GSB graduates, however, were given enormously valuable stock options after earning employment, with a median value of $380,000. Despite the astronomical figures, Stanford GSB grads still saw a dip of around $40,000 in total five-year compensation compared to the Class of 2010. Similarly, HBS grads saw a $28,000 five-year drop compared to the Class of 2010. Wharton 2012 grads, in contrast, gained $18,000 compared to two years prior.
In regards to employment, not much has changed since 2012. McKinsey and Co. was the top employer of the Wharton Class of 2012, hiring over 50 of the school’s 800-plus graduates. Alongside McKinsey were Bain, BCG, and Deloitte, which are still the school’s top employers. However, since then, Amazon has overtaken Goldman Sachs in the Wharton recruitment war.
Thomas Jueng, Seoul native and 2012 Wharton grad, tells Forbes, “Wharton was a great springboard to make a transition geographically and job position-wise with a strong brand name and network as well as providing practical knowledge.”
Read the entire Forbes list of the best U.S. business schools here.
Graziadio Professor Talks Uber’s Future, Potential For Female CEO
Dr. Bernice Ledbetter, Practitioner Faculty of Organizational Theory and Management at the Pepperdine Graziadio School of Business and Management, recently wrote a Huffington Post article arguing that Uber would benefit from hiring a female CEO to fill the void left by former CEO Travis Kalanick’s resignation. Ledbetter begins by summarizing some of the internal and public image issues the company has faced of late.
Graziadio Professor Explores Net Neutrality From Both Sides
Pepperdine’s Graziadio School of Business and Management Professor Nelson Granados recently published an article in Forbes, in which he delved into both sides of the net neutrality argument.
Graziado Dean Writes Op-Ed on Ethical Implications of De-Regulation
Dean of Pepperdine’s Graziado School of Business and Management, Deryck J. van Rensburg, recently wrote an opinion piece that was published in U.S. News & World Report. The article analyzes the new administration’s marketplace de-regulation and what it could mean for businesses.
