Penn State Sustainability Efforts Continue with $100,000 Gift
Penn State Smeal College of Business alum Robert Davidow and his wife Suzanne Davidow gifted the school with $100,000 to increase the school’s sustainability efforts, yielding the inception of the Davidows Sustainability Fund.
“The world is becoming more focused on conserving the environment and Smeal has recognized this trend and integrated it into its studies. Business fundamentals are of paramount importance for today’s students, but when you combine that with sustainability, you can have a powerful social impact,” Rob Davidow said. “It’s important for the University to encourage and teach sustainable business practices and I am excited to watch Smeal collaborate with other departments at Penn State to develop unique strategies to the business challenges arising from growing a populace.”
The Smeal College of Business has an impressive track record with sustainability. In fact, even the Smeal building is environmentally-friendly, having received LEED-EB (Leadership in Energy and Environmental Design-Existing Building) gold-level certification. Smeal was also among to first business schools to create an actionable sustainability plan. As a Smeal graduate, Rob Davidow was no stranger to these efforts.
Rob and Suzanne have channeled their philanthropy toward other environmental consciousness efforts as well. They have invested in the Israeli university, The Technion, in order to allow the school to help Israel become water-efficient.
“Rob and Suzanne have been passionate advocates for solutions to some of the most critical global sustainability challenges, with a particular interest in water insecurity. This generous new commitment will extend their legacy of support for these critical issues,” said senior director of development and alumni relations Michelle Houser.
“I hope Rob and Suzanne’s generosity inspires other Smeal alumni to consider how they too can impact the world through philanthropy,” Houser said.
Rob Davidow graduated from Smeal in 1964, and his commitment to giving back to the institution and the world will certainly secure a distinguished legacy for the private investor.
Finding Philly’s Best MBA Return on Investment
It’s no secret that Philadelphia’s relatively low cost of living has historically made the Birthplace of America an attractive option for those in search of a big city experience outside the skyrocketing markets of other major East Coast cities.
As people flock from the New York metro region in search of a similar urban adventure at a substantially lower price point, Philadelphia has been controversially dubbed the “6th Borough.” Word to the wise for potential b-school interlopers: never tell any Philadelphian their home has been annexed by New York City.
About 90 minutes by train from New York City, the City of Brotherly Love is no Big Apple, but it’s one-of-a-kind. Sure, tourists and locals alike grip cheesesteaks in one hand while pumping their fists on the steps of the Art Museum a la Rocky, but the city reveals itself to those who have the patience (and wherewithal) to dig into it.
Whether that means embarking on a two-year MBA program or choosing among the accelerated options available, Philadelphia just happens to be home to several top ranked MBA programs in the world. Let’s take a close look at Philly’s programs. Oh, and here’s a napkin for the wiz.
Philadelphia Return on Investment
University of Pennsylvania’s Wharton School of Business
Officially the oldest business school in the U.S., The Wharton School at the University of Pennsylvania boasts well-known alumni billionaire financier Ron Perelman, LinkedIn CEO Jeff Weiner, and John Sculley of Pepsi and Apple. Wharton’s tuition of $136,420 and estimated total budget of $195,085 isn’t to be taken lightly. However, full-time MBA graduates earn an average base salary of $130,000 with an average bonus of $20,500, and a supreme 92.6 percent job acceptance rate. So, while having a somewhat unimpressive salary-to-debt ratio, Wharton’s reputation and alumni network precedes itself.
In fact, the school recently topped the annual Forbes best full-time MBA program list, sporting the best five-year financial gain after graduation. Wharton MBA graduates of the Class of 2012 are making a $225,000 average annual salary—roughly 42 percent higher than recent grads, easily topping the cost/debt ratio of the program.
Saint Joseph’s Haub School of Business
Notable alumni of Haub School of Business at Saint Joseph’s University include CEO of NutriSystems, Inc. Michael J. Hagan, Chairman and founder of Philadelphia Consolidated Holding Corporation James J. Maguire, and Senior vice president of PNC Bank Denise Viola-Monahan. SJU’s $30,294 tuition set against an average base salary of $65,000 means the school offers a competitive MBA to those who don’t want to break the bank.
Temple’s Fox School of Business
Fox School of Business at Temple University’s notable alumni include Systel CEO Jai Gulati, former COO and president for ConocoPhillips John Carrig, and CEO of Actavis and co-founder of Health Care Compliance Association Brenton L. Saunders. Fox’s tuition sits at $57,048 for residents and $80,484 for nonresidents. With a 97 percent job placement rate compared to $25,623 average debt and a $85,278 average base salary, Fox’s salary-to-debt ratio looks attractive.
Drexel University LeBow College of Business
The LeBow College of Business at Drexel University alumni include President and CEO of Rohm and Haas Raj Gupta, former CEO of Science Applications International Corp. Kenneth C. Dahlberg, and the Phillie Phanatic Tom Burgoyne. Tuition is $59,565, and graduating MBAs carry an average debt of $43,894. With a reported average base salary of $84,080, LeBow’s salary-to-debt ratio is competitive. Considering the comparatively low price point, LeBow emerges as an incredibly attractive ROI.
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University of Delaware Lerner College of Business
A short 20-minute train ride from Center City Philadelphia and under two hours from New York City, the Lerner College at the University of Delaware has an eye-catching reported average base salary of $90,291. Compared to tuition, which ranges from $33,000 to $55,000, depending on residency, Lerner’s ROI could shine through if figures hold true for most MBA earners from this institution.
Penn State Smeal College of Business
Although its central campus is located in Happy Valley, PA, the Smeal College of Business at Penn State offers an executive MBA program in Philadelphia. The program is priced at a hefty $102,000, but average graduate debt is reported at $36,500, and median salaries ranging from $97,890 to $101,857. With such an impressive salary-to-debt ratio, Smeal is an attractive option for those who prefer easy metro access rather than living in the thick of the action. Notable alumni include Chairman and CEO of Petroleum Products Corp. John Arnold, and Former Chairman and CEO of Merrill Lynch & Co. William Schreyer.
Smeal Alum Kimberlee MacMullan Named Penn State SBDC Director
Earlier this month, it was announced by the Smeall College of Business at Penn State University that Kimberlee MacMullan will be taking over as Director for the Penn State Small Business Development Center (SBDC). Though MacM
Kimberlee MacMullan/Photo via Penn State.
ullan’s job at Penn State is a long way from her previous position on the other side of the country, where she served as CEO for the Hermosa Beach Chamber of Commerce and Visitor’s Bureau, she is no stranger to the Philadelphia metro. In fact, MacMullan earned her bachelors degree in Marketing at Penn State’s Smeal College of Business, and went on to pursue her MBA at the Villanova School of Business.
The SBDC is a resource wherein students and community members can take advantage of one-on-one confidential business consulting and seminars at any stage of their business’s development. The center is located in State College, in central PA. After the announcement, MacMullan spoke enthusiastically about her ambitions for the SBDC.
“We have the talent and expertise to provide cutting-edge guidance to business owners, regardless of the industry,” MacMullan said. “My goal for the Penn State SBDC is to ensure we deliver that expertise in a consistent manner and continue to expand education and engagement with the community. I love vesting in someone’s effort when they are motivated, determined, and focused, and part of our job is to enable those traits in the potential entrepreneurs seeking out resources.”
MacMullan brings over 20 years of experience in executive roles and business planning to her position at the SBDC. Her experience includes working at DIRECTV and various film studios in Los Angeles, as well as consulting for Villanova’s SBDC.
“SBDCs are strong supporters of business growth and development and we are proud to have an experienced professional such as Ms. MacMullan join our program,” said Christian Conroy, Pennsylvania SBDC State Director.
Harvard Business School Tops Bloomberg Businessweek Ranking
For the third straight year, Harvard Business School reigned supreme in the annual Bloomberg Businessweek “Best Business Schools” ranking, topping the Wharton School at the University of Pennsylvania and MIT Sloan School of Management. In joining HBS on the medals podium this year, those schools both saw significant gains over last year, climbing from sixth and seventh respectively.
Rounding out the top five this year is the University of Chicago Booth School of Business —holding steady year over year at fourth—and Stanford Graduate School of Business, which fell from second place in 2016 to fifth this year.
The methodology Bloomberg Businessweek uses to arrive at its annual MBA ranking involves weighting each of five principle factors. Employer surveys account for 35 percent of a school’s score. Alumni surveys account for another 30 percent. And a combination of current student surveys, salary rankings, and job placement together account for the remaining 35 percent of the final score.
High Risers
Ten out of the top 20 ranked schools in the 2017 Bloomberg Businessweek ranking advanced at least one spot over last year. Wharton and Sloan each managed to leap four spots, boosted by high praise from employers and hefty salary benefits for recent graduates. The University of Washington Foster School of Business also managed to jump from 19th to 15th overall this year, thanks largely to its top ranking as the nation’s best business school for job placement.
The Cornell S.C. Johnson Graduate School of Management and the UCLA Anderson School of Management both saw a rankings jump of three spots, with Johnson moving up to 13th and Anderson coming in at 19th.
The year’s biggest winner, however, may be the Penn State Smeal College of Business, which jumped a whopping 12 spots from last year’s 37th to come in at 25th in 2017. It wins the award for the year’s biggest overall rankings increase. The USC Marshall School of Business also saw a momentous climb this year, sidling up eight spots from 38th last year to 30th this year.
In the latter half of the rankings came another one of this year’s biggest risers, with the Terry College of Business at the University of Georgia jumping 11 spots from last year, up from 65th overall to 54th. Elsewhere, the David Eccles School of Business at the University of Utah, the Whitman School of Management at Syracuse University, the C.T. Bauer College of Business at the University of Houston, and the Pepperdine University Graziadio School of Business and Management all saw a jump of at least seven spots in the new ranking.
Once Mighty, Now Fallen
Stanford GSB, Duke’s Fuqua School of Business, Dartmouth’s Tuck School of Business, and Jones School of Business at Rice University may all be feeling a wee bit dizzy. Last year Stanford shot up to second from seventh the year before, but this year it finds itself demoted to fifth. Duke’s Fuqua School, which last year celebrated a momentous jump from eighth to third, this year fell back down to seventh. Dartmouth’s Tuck School of Business, which had one of last year’s biggest gains, rocketing up nine spots to break into the top five from a mere 14th place finish the year before, this year finds itself at seventh. Similarly, Rice Business, as the Jones School likes to be called, which last year catapulted 11 spots to number eight, this year slipped to tenth. But at least all maintained their footing within the top 10.
Emory’s Goizueta Business School and the Texas A&M Mays Business School, for their part, slipped out of the top 20 altogether. Goizueta slipped just slightly, from 20th to 21st, and Mays slid from 18th to 22nd. The University of Virginia Darden School of Business also stumbled, slipping from 12th last year to 17th this year. But the Charlottesville school at least managed to remain in the top 20, thanks in part to strong scores in the student survey and salary categories.
No school, however, lost more ground than the George Washington University School of Business, which fell an eye-popping 14 spots from last year, losing its place among the top 50 business schools in the United States.
Bloomberg BW has made multiple changes to its methodology in recent years, resulting in significant volatility in terms of where schools fall on the list even when not much has changed year over year at the individual schools themselves. This has led many to question the credibility of the ranking overall. That said, Clear Admit’s Alex Brown found this year’s results easier to swallow than some in recent years. “This ranking seems more reasonable to me this year,” he says. “Each of the M7 programs are in the top 10, and the schools I would consider in the top 16 are all in the top 20.”
You can view the complete 2017 Bloomberg Businessweek rankings here.
This article has been edited and republished with permissions from Clear Admit.
Penn State Startup Week Contest Helps Launch Platform to Fight Hunger
Last fall, five Penn State Harrisburg students took their idea for a supply-chain management platform to the HackPSU Hackathon. After testing the idea there, they took it to the Penn State Smeal College of Business 2017 Supply Chain Entrepreneurship Pitch Contest. There, the team nabbed second place out of 26 competitors. They took this honor (and the $4,500 award that came with it), and flew to Amsterdam for the Thought for Food Global Summit.
Smeal students Howie Anderson, Michael Li, Brandon Daubenspeck, Pranav Jain, and Alex Bouril, were eager to showcase their idea at the summit, as, according to Daubenspeck, helping people access food was “the perfect application for our platform.”
The platform, NuntAgri, is a chatbot with which buyers, sellers, and distributors of food can interact. In its most recent iteration, NuntAgri enables sellers to input what they would like to sell, and buyers to text NuntAgri to peruse or purchase these orders. NuntAgri then contacts a close intermediary to transport the order. This efficient coordination allows produce and food items that would have been discarded to be picked up by volunteer drivers and taken to places like homeless shelters and food banks.
Michael li explains the platform as, “a service offered through SMS, short message service, that can revolutionize regional distribution logistics by using crowd-sourcing.”
The summit was a fruitful next step for the team, as NuntAgri’s capabilities align with Thought for Food’s goal of feeding nine billion people in the next thirty years. As of now, however, the platform is being used by Dirty Dog Hauling, a Harrisburg company that specializes in junk removal. Just as it would with food, the chatbot connects sellers, transporters, and buyers of the junk items.
“This has been an excellent experience,” Li said. “We have learned how to make connections, how to network and develop a system that will effectively manage supply and demand.”
How To Avoid Costly MBA Résumé Mistakes
Submitting a résumé is perhaps the most crucial part of every prospective MBA’s application process. A good résumé provides insight into who an applicant is, and what they’ve accomplished. A well-crafted, attention-grabbing résumé that captivates an admissions team can bring an applicant much closer to an acceptance letter.
But aside from a name, contact info, and educational and professional details, what should a slam-dunk MBA resume include?
What Are The Résumé Basics?
Starting with the principle basics, résumés should be short, sweet, and concise. Ideally, they should fit on one page—maybe two. Stephan Kolodiy, an admissions officer at Rutgers University, told U.S. News & World Report that long résumés are a common issue with many MBA applicants.
“Sometime we get a résumé that’s five to six pages long, and that’s way too much information,” he says.
That one-to-two pages of concise information should also be 100 percent accurate—one should never lie on a résumé. Because credibility plays a big role in the application process (MBA or otherwise), it is unwise to fabricate work or school experience. Deceitful, even exaggerated, résumés are always rejected by business schools, and admitted students who submit compromised résumés are at risk for expulsion. This is serious stuff, so don’t lie!
Carrie Marcinkevage, MBA Managing Director at the Smeal College of Business at Penn State University, told U.S. News that honesty is always the best policy.
“Authenticity allows you to find the right school and that school to find you,” Marcinkevage says. “Allow them the chance to find the real you.”
Perhaps most importantly, all MBA résumés should provide examples of success. Prospective MBAs should give admissions officers a reason to send an acceptance letter by showing concrete examples of career advancement, or of how an MBA candidate achieved results for a particular client.
“When applying to a top-tier business school, you’ll need to show admissions committee on a clear path of professional growth,” U.S. News reports.
What Are You Forgetting?
There are also some not-so-basic guidelines that MBAs are encouraged to follow when crafting a solid résumé. Investopedia published a guide reviewing some of the best resumes for MBA applicants that outlines a few tips that many prospective business students may not have previously thought of.
Without sounding like too much of a graphic design nerd, it’s important to take typeface into account with a résumé. Yes, fonts matter. It’s best practice to rely on on two typefaces: A bold sans-serif face for headers, and a standard serif face for body type. For those of you who don’t know, a serif is the tiny extension on the termination point of an individual letter, the little “hat” at the end of a letter if you will.
Serifs exist to make smaller text easier to read, so they are the best friend of admissions offices who may read hundreds of résumés per day. Sans-serif fonts—letters that don’t include serifs—are cleaner and pop easier when bolded out. Résumés should avoid using fonts that are too common, such as Times New Roman, but also avoid ridiculous fonts like Comic Sans. Nobody likes Comic Sans.
Aside from listing relevant work experience, and showing how much growth took place at each job, there are other skills that every résumé should highlight. According to U.S. News, the three skills that can best help sell an MBA applicants résumé to a business school are:
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- Leadership
- Communication
- Innovation
First and foremost, business schools want to see strong leadership skills as well as personal growth. All MBA programs focus on developing management skills, but schools wants to know that a solid foundation of leadership is already there. Good résumés provide evidence of an applicant motivating a team behind a common goal, figuring out the best use of other’s talents and skills, instilling a concrete vision, and prioritizing the needs of an organization above personal needs.
As for communication, a résumé is an applicant’s first line of communication to a business school, and should be chock-full of structured writing and thought-out word choice. U.S. News shows the different between a boring resume and beautifully worded one:
“Here’s a real example of a blah bullet point in a client’s first draft: ‘Helped with new software implementation.’
Now, a brilliant bullet point: ”Spearheaded software upgrade in the San Francisco field office by coordinating with software developer, leading training sessions, and facilitating implementation schedule.’ The second example offers a much more comprehensive understanding of the scope of the accomplishment.”
Some applicants may try to hard to impress admissions officers with technical jargon or fancy terminology. Lose it, and show that you can clearly, and simply explain headier topics in writing:
“One client listed this bullet point on his resume: ‘Created VA1 Business Acquisition.’
Once we translated that into something the MBA admissions audience would understand, the résumé said: ‘Devised and launched outbound communications plan for our premier voice activated product. Product was well received and became cash flow positive within 14 months.’
Much better.”
Lastly, a résumé that shows an applicant has helped innovate will go a long way. This piece of advice is especially handy for applicants with traditional pre-MBA jobs. All admissions officers know what a consultant or analyst is tasked with at an entry-level position. A resume is an opportunity to shed light on things that sets an applicant apart from other typical analysts. Things to keep in mind include: training a newly hired analyst, leading college recruiting efforts, or organizing an office volunteering or fundraising initiative.
Avoiding Deceptive Mistakes
Now, here’s where we can get a little dramatic: Résumés are the first impressions a prospective MBA job candidates has with a potential employer. Since no one gets a second chance to make that first impression, don’t mess it up!
Bloomberg issued a list of the “Ten Biggest Resume Blunders” that outlines exactly what not to do with an application résumé, which includes obvious items like avoid writing a bad cover letter and remove foolish typos and inconsistencies.
The list also features some gems, like how to avoid making your résumé a cluttered mess. Again, not to sound like a graphic design professor, but the look of a résumé certainly counts. Avoid using fancy graphics or designs, and provide a crisp, clean document that’s easy to read on a computer screen.
“The résumé should be presentable, not an information dump,” Chris Thomas, Global Recruiting Director of the Experienced Commercial Leadership Program at General Electric, told Bloomberg. “There should be some white space.”
A well-done résumé shouldn’t misfire on any points—bullet points, that is. Some schools offer formats for resumes, specifically on how to list past job experience. Schools like the University of Michigan Ross School of Business advise students to use the “Action Context Result” format, which describes an action they performed, where they performed it, and the results it garnered.
“‘Worked for XYZ Corp., 2008 to 2012’ says close to nothing,” Damian Zikakis, Director of Career Services at Ross, told Bloomberg. “’Led a review of supplier contracts for the technology division resulting in savings of $250,000 opens doors.”
Lastly, a résumé should never disregard an applicant’s worth, nor should it overshare information. As we mentioned earlier in this piece, a good résumé should demonstrate what an applicant has accomplished and what they can bring to a new employer. It should not feature information that, even if positive, is irrelevant to a desired position.
“Think of the résumé as a future-focused document and not an historical one,” Char Bennington, Director of Career Management at the University of Chicago’s Booth School of Business, told Bloomberg. “Focus on what’s important to the people in the career that you want now.”
How Else Can Your Résumé Stand Out?
To help make sure a résumé stands out in the crowd, consider participating in some relevant volunteer work. David D. Schein, the Director of Graduate Programs for the Cameron School of Business at the University of St. Thomas, told MetroMBA that adding volunteer work to a résumé. With that said, not all volunteer work is equal.
For example, if you volunteer at the SPCA and play with puppies all day, that probably won’t your résumé or your application. Instead, find “responsible positions that deliver a lot of bang for the time commitment,” Schein says. Find a position that will allow you to spend time organizing a major fund-raising activity or event. It should be something that has a demonstrative impact on the organization and illustrates your leadership potential.
Including unique and interesting hobbies can also be a fun way to illustrate your skills and stand out. Schein recommends that applicants choose hobbies that “demonstrate drive and ambition. Some examples might include white water rafting or learning a difficult foreign language like Chinese or Farsi.”
