New York City’s Work/Life Balance Problems, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York City business schools this week.
Would You Like Your Boss to be Fined for Making You Reply to Emails? – NBC News
Lehigh University College of Business and Economics management professor Liuba Belkin’s work was recently cited by NBC News regarding a potential new NYC law that would effectively ban workers from being forced to reply to after-hours emails and other messages. The reason behind the proposed law is that the increasingly common practice in the U.S. is decreasing work-life quality, which was a provincial point of Belin and co-author William J. Becker’s study “Exhausted, but Unable to Disconnect: After-Hours Email, Work-Family Balance and Identification.”
The potential new law would not effectively ban those from sending messages after hours, but being forced to work off-the-clock would be subject to a fine of around $500 for each offense. France, NBC News writes, passed a similar law in 2017 “requiring businesses with 50 or more employees to negotiate after-hours email rules with workers, potentially allowing them to ignore post-work correspondence.”
Human resources manager Steve Wang thinks the lofty comparison to France’s work culture is not as easy in the U.S. The country has stricter labor laws, instituting 35 hour max work weeks, and a law preventing people from working 4.5 hours straight without any breaks, for instance.
Click here to read more about the law and Belin’s study.
What are the Best Healthcare MBAs You Can Find in New York City? – MetroMBA
Four of the best health care MBA programs reside in New York; three of which fall right inside the five boroughs. Columbia Business School, the Zicklin School of Business at Baruch College, the Stern School of Business at NYU, and the SC Johnson Graduate School of Management at Cornell in Ithaca each offer exemplary healthcare management learning options for any hopeful MBAs, some of which are coupled with dual degrees.
Zicklin’s Executive MBA in Healthcare Administration is one of the few programs in the New York metro that has both AACSB and CAHME accreditation.
Find out more about the best healthcare MBAs you can find in New York here.
Daniel A. D’Aniello speaks on the value of mentorship in driving success – Johnson SOM Blog
Cornell University’s SC Johnson Graduate School of Management recently hosted Carlyle Group co-founder and former Marriot VP of Finance and Development Daniel A. D’Aniello at this year’s Lewis H. Durland Memorial Lecture.
D’Aniello used the talk as an opportunity offer invaluable entrepreneurship, stewardship, and mentorship advice to Johnson students from his distinguished career as co-founder of one of the world’s largest investment firms. He also “emphasized the importance of humility in recognizing one’s errors and understanding how to spend one’s time.” He elaborates:
“Allocate your valuable time to things that are going to scale, grow, and become profitable. Time is your highest opportunity cost.”
You can read more highlights from D’Aniello’s talk here.
Top MBA Recruiters: Finding Your MBA Career at PwC Firm Strategy&
Navigating job applications and interviews after all the hard work of earning your MBA can be tiresome. After devoting a year or more of your time to gaining the skills of a top business professional, shouldn’t future companies be knocking down your door?
It might not be that easy, but there are certainly a number of companies currently seeking the best and the brightest up-and-coming business leaders, who acknowledge the kind of skills an MBA can contribute to their team. Among them is Strategy&, one of the top recruiters of MBA students at business schools throughout the world.
For MBA graduates looking for careers in the consulting industry, Strategy& could be the perfect opportunity to break into the field and develop critical skills in strategy and consulting. And as an MBA graduate with a wealth of knowledge within the industry, companies like Strategy& are probably also looking for you.
About Strategy&
Strategy& was established more than 100 years ago by Edwin G. Booz, eventually being known for most of its life as Booz & Company. In 2014, the firm was acquired by PricewaterhouseCoopers (PwC), when it was renamed to Strategy&. The firm is headquartered in New York City, with more than 57 offices throughout the world. Today, the company features roughly 3,000 employees and more more than $1.3 billion in revenue.
Strategy& functions currently as the strategy consulting team for PwC, offering strategic solutions in an uneven business climate, helping companies to transform, invest in growth, and stay in tune with business trends even through rapidly changing times.
Why MBAs Love Strategy&
Strategy& is an active recruiter from business schools around the world, including top programs like Harvard Business School, NYU Stern, and INSEAD, among many others. The company is also supportive of staff who have not yet earned an MBA but hope to advance their business education. Strategy& even offers junior staff the chance to apply for full MBA sponsorship, and provides flexible work opportunities so students can pursue a degree while still maintaining their career.
The Strategy& consulting experience is shaped in a way that relies on mentorship, with a 1:6 ratio of partners to junior consultants. For MBA students—who have already demonstrated an interest in investing in their growth and education in the field—this type of setting means that class is always in session.
Life at Strategy&
New consultants at Strategy& can expect a clear and structured path laid out at the start of their career, with rapid career progression possible. New associates will advance towards roles as partners, typically spending two to three years at each level along the way.
While undergraduates would begin in associate roles, those with MBA degrees can jump right in at the senior associate level. Senior associates have the opportunity to develop their skills by working closely alongside clients to resolve complex issues and guide clients and their companies towards success. From there, MBAs could move upward into a manager role, then director, and finally partner.
The development of strong mentor relationships is seen as crucial at Strategy&. Mentors will provide a constant source of support for new associates, offering guidance as they move upwards through the company, choosing projects they are passionate about and forming strong professional networks. Mentors will also provide real-time feedback, helping pave the way for a successful career.
Landing a Job at Strategy&
Strategy& is an active recruiter of MBA programs throughout the country, where they may host events on campus and offer direct information to students on applying for positions at the company. Students from any program, even if the school does not actively recruit there, are able to apply directly for their internship and job openings through their website. Jobs are available at a number of the firm’s locations throughout the country and around the globe.
Summer internship opportunities are a great way for students to get their foot in the door at Strategy&, and may end up leading to full time employment. This was the case for Bryan, now a director at the company and based out of Chicago. Bryan interned for the company during the summer while earning his MBA at the University of Chicago Booth School of Business. He completed his MBA in 2011, joined Strategy& as a full-time colleague, and is now a key member of the Technology Strategy team.
“I had the opportunity to do an internship with the firm between my first and second year at business school, and I came away impressed with the caliber and character of the people at the firm,” Bryan said of his experience with Strategy&. “In only nine weeks, the camaraderie and professional bonds that I was able to develop with my teammates, fellow interns and leaders at the firm was special.”
How to Ace These 5 MBA Interview Questions
Clear Admit recently explored 5 crucial interview questions you’ll need to know during the height of MBA interview season, based off the site’s in-depth interview guides and archives, which you can read below.
Interviews, interviews, interviews … it’s all anyone seems to be talking about these days, and with good reason. Harvard Business School, Michigan’s Ross School, Chicago Booth, NYU Stern, and UVA Darden are just some of the schools that have already or are in the process of sending out Round 2 interview invitations. Stanford GSB, MIT Sloan, and UPenn / Wharton are among those soon to come.
Instead of driving yourself crazy with worry, why not buckle down and perfect your answers to the questions you are most likely to be asked? To help you prepare, we’ve scoured our Interview Guides and Interview Archive to compile our very own list of five MBA interview questions you need to ace. These questions are among those that most often make their way into MBA admissions interviews at leading schools.
While the questions listed here are most commonly asked as part of blind interviews, they can certainly also come up in the course of non-blind interviews. In those cases, you’ll want to be prepared to go deeper into some of the specific experiences you shared in your application. (Check out our quick refresher on the difference between blind and non-blind interviews).
For detailed insights into each school’s interview process, the questions they ask, and how to tackle those questions, access Clear Admit’s Interview Guides.
5 MBA Admissions Interview Questions You Need to Ace
Walk me through your résumé.
The real trick with answering this open-ended question is to gauge how much detail is too much. Imposing a structure can help. “It’s best to err on the side of brevity,” says Alex Brown, who asked this very question of many hopeful Wharton applicants during his time working in admissions at the Philadelphia school. “Think of this résumé walk-through as simply laying the groundwork for deeper discussion of your background and accomplishments.” A good idea is to develop a two- to three-minute run-through, beginning with where you grew up and went to college, what you studied and perhaps something you enjoy outside of work. Then move into a concise overview of your work experience, beginning with your first job and continuing to present day, making sure to explain why you made the choices you did and what you learned in each major role. “This kind of high-level overview gives your interviewer the perfect opportunity to ask for more detail about specific points if she wants it,” Brown says. If you have a gap of three or more months due to unemployment or some other cause, you should be prepared to address it, Brown warns, although in a short résumé question as part of the interview, it may not come up.
What are your career goals?
With any luck, you will already have a well-honed response to this question, developed and refined as part of the process of writing your application essays. “If you are looking to shift industry or function, this is your chance to explain your reasoning and that you have carefully thought through what may be involved in successfully making the transition,” Brown says. Keep in mind why the adcom is asking this question, Brown suggests. “They want to know how focused you are on the MBA and whether you are in a position to take advantage of the resources business school offers or at risk of getting overwhelmed,” he says. Present a very clear post-MBA goal, Brown recommends. “Schools prefer to admit students who can explain exactly what kind of job they want to pursue beyond graduation and articulate how it will set them up to obtain their long-term career objectives,” he says. Schools are also looking, with this question, to see if your goals make sense and are feasible in light of your past experiences; are you able to articulate a clear path and plan?
Why X school?
Here, schools want to see if you have really done your research on their program and whether you are a good fit with their culture. So, do your research. “I recommend a three-pronged approach to make a truly compelling case for your interest in a given school,” Brown says. Start with academics, he says, naming specific courses and professors that you are interested in. “Remember, your interviewer wants to see that you have really researched the school.” Second, mention specific clubs, conferences and other special programs that will help position you for your career goals. “Even better, show how you would contribute to the school community, such as by organizing an event to share specific knowledge you bring with your future classmates,” Brown suggests. Third, show that you have a good understanding of the school’s community, culture, class size and location and have thought about how these fit with your personality, goals and background. “If you have visited campus or talked with current students or alumni—definitely say so, lead with this.” Brown stresses. “Beyond showing that you’ve invested time in getting to know the school, this also helps your interviewer have a mental picture of you on campus.” he says.
Give us an example of a time you took a leadership role.
The way interviewers ask this question can vary—sometimes you’ll be asked directly about your most notable leadership experience and other times you’ll be invited to describe your general leadership style. “It’s important to keep a few basic principles about leadership in mind,” Brown says. “A leader is someone who has a strong vision or point of view and is able to see things others are not,” he continues. A leader must also have excellent communication skills. Choose an example that demonstrates these points. An ideal leadership example will describe a time when you negotiated with and persuaded key stakeholders, such as clients or a supervisor, to buy into your vision and then delegated the work and managed colleagues or juniors. “If you encountered obstacles along the way, share how you dealt with them,” Brown says. “If possible, you should also show success through quantified results,” he adds. As important as a successful outcome is demonstrating how you drew on the help of others where necessary. “No one is successful on their own,” Brown says. Show that you understand that strong leadership means teamwork and playing well with others, he says.
Tell us about a time you failed.
As tempting as it may be to say that you’ve never failed at anything…that is not what that adcom is looking for here. “In fact, this is a favorite question for those who appear to be ‘rock stars’ on paper,” Brown says. But rock stars make mistakes, and having an example in your back pocket of a time things did not go according to plan can show humility as well as your capacity to learn and grow. “The best answer to this type of question ends with a more recent experience where you took the lesson you learned from the failure and put it into play, affecting a better outcome.” he says.
These five questions certainly don’t cover everything your interviewer is likely to ask you, but they do touch upon some of the things you’re most likely to be called upon to share as part of your MBA admissions interview. You can take some of the anxiety out of the interview process by giving each one some thought, drawing on some relevant experiences from your past, and practicing the responses you would give. Don’t practice too much so that you appear overly rehearsed—since it’s important to seem both authentic and genuine—but prepare enough so that you’ll be ready to truly put your best self forward.
So, What is a Strategy MBA and Where Can You Find One?
For those who don’t have a natural knack for strategic thinking, the ability to analyze effectively and make logical decisions can often seem like the kind of skill that just can’t be taught. Luckily, most business schools disagree.
Not only is strategic thinking a skill that can be studied and improved, but an advanced education in this field can lead to a wide array of careers, often incredibly lucrative ones. After all, the ability to make strategic decisions can lead to success in all aspects of business and across numerous industries- that might be why those who earn MBAs in Strategic Management are entrepreneurs, COOs, Department Supervisors, Business Analysts, and are found at any number of high-level management positions.
Whether you are born with the skill or not, pursuing a Strategy MBA is the perfect way to set yourself up for a versatile career in strategic management.
What is a Strategic Manager?
In an ever-changing and often tumultuous business world, an organization’s strategic planner can be a crucial part of their growth and continued success. A career in strategic management or planning will involve keeping an organization on course through the collection, analysis, and organization of information pertinent to the company’s profitability. This may include tracking industry trends, keeping an eye on external business competition or threats, identifying opportunities and creating action plans for a company based on strategic problem solving.
Strategy jobs typically deal in the “big picture” of the company, and are a key part of both shaping and supporting a company’s overall vision and values. The role is a desirable one within a company, as it provides direct access to senior managers and frequently leads to higher level leadership positions.
Strategy jobs require a candidate to use skills from a variety of disciplines, such as finance and marketing. Since these positions are often highly competitive and require candidates to demonstrate a high level of business acumen, earning an advanced degree in strategy is one of the best ways to prove you have the unique combination of skills and drive required for this often demanding—but incredibly rewarding—career.
What Is a Strategy MBA?
Given the breadth of skills required to be a successful Strategic Manager for a company, it’s easy to see why one would want an advanced degree in the field. An MBA specialization in Strategic Management is designed to provide students with a deep grounding within the logic of competitive advantage, focusing on both a broad understanding of business competition as well as a more nuanced training in analysis and decision making.
Offered at some of the top business schools throughout the globe, a Strategy MBA will help set future business leaders on course for careers in strategy consulting, general management, entrepreneurship, and a number of other careers that require the careful skills of analysis and problem solving gained with this degree.
Why Should I Get a Strategy MBA?
With the unique skill set required for a higher-level role in Strategic Management, earning an MBA with a specialization or major in Strategy can be crucial to proving your skill to potential employers. Regardless of your ultimate career goal, the “big picture” type of training offered by a Strategy MBA can be seen as shorthand for a person with the drive and acumen necessary to make crucial business decisions. And graduates with Strategy MBAs don’t always take jobs as Strategic Planners—they are CEOs, entrepreneurs, and other high-level leaders within their organizations.
Those who do earn Strategy MBAs are also often the highest earners among their MBA-holding peers. According to Payscale, Senior Strategy Manager positions can earn salaries of up to $119,000 per year, a large portion of which comes from bonuses, and occasionally, profit sharing. Graduates of Strategy MBA programs are employed at some of the world’s top companies, such as Deloitte, Amazon, and the Intel Corporation.
Where Can You Get a Strategy MBA?
With an increasing demand throughout the years for qualified and experienced strategy planners, a wide variety of business schools—including some of the top ranked MBA programs in the country—have begun to offer MBA specializations in the field of strategy management/planning.
Below are just a few of the MBA programs throughout the United States offering an MBA in Strategy or Strategic Management.
Temple University Fox School of Business
The Fox School of Business at Temple allows MBA students to focus their degree in Strategic Management, or earn a dual degree that combines an MBA with a Master in Innovation Management & Entrepreneurship (IME). The Department of Strategic Management (SGM) at Fox allows students to approach business strategy from four different angles- entrepreneurship, management, consulting, and international business. All for disciplines help prepare students to be leaders within the strategic management field through hands-on instruction, internship opportunities, networking events, travel abroad experiences, and more.
New York University Stern School of Business
The Stern School of Business at NYU allows MBA students to specialize their degree in Strategy, which will help provide a strong business foundation for the business leaders of tomorrow. The degree will help prepare students for a wide variety of fields, including careers in strategic planning, risk management, and management consulting. Courses in strategic management at Stern include: Competitive strategy in the marketplace, corporate governance, strategic design, strategic talent management, and more.
University of Pennsylvania Wharton School of Business
The world-renowned Wharton School at UPenn also offers students the opportunity to earn an MBA in Strategic Management, a major which aims to provide a “deep grounding in the basic logic of competitive advantage premised on a careful analytical treatment of the distinct qualities of positions of individual firms and an understanding of broader competitive dynamics.” Some of the courses offered as part of this major at Wharton include: Deals: the Economic Structure of Transacting and Contracting, Strategic Implementation, Multinational Business Strategy, Competitive Strategy and Industrial Structure, and more
The 5 Important Things You’ll Need to Know When Getting an MBA
If you’ve gone through the rigamarole of an MBA application, chances are you’re feeling a bit taxed (no pun intended). Don’t slow down now! Sometimes when you have your life and education under the microscope it’s helpful to get a gentle reminder from a reliable source—like us—of what you hoped to get out of the degree in the first place. Here are a few tips that might help calibrate your b-school compass:
Practice On The Field
Cliff Oxford, founder of the Oxford Center for Entrepreneurs, wrote in the New York Times that certain traditional MBA programs are “like having athletes studying game film but never practicing on the field.” This is why many schools encourage students to apply for internships during enrollment or summer semesters. These opportunities can be competitive—especially if you have your mind set on a large company—but don’t let that deter you.
There are many ways to stay connected with the global marketplace, where you will be employed in only two years. For starters, keep applying and remain alert to positions that may have a greater potential for longevity. Interviews that don’t lead to an internship are still essential experiences. If your chosen program doesn’t have adequate outlets for students to engage with employers, ask for them.
Let A Mentor Set The Pace
Mentorships reinforce the idea that there’s no substitute for experience. For students too intimidated to reach out to a professor, consider that mentorships may be the most rewarding part of their job.
Many schools offer a mentorship program built into the curriculum. Large schools like the University of Oregon and the University of Miami pair students with local professionals to “meet regularly throughout the academic year to discuss everything from study habits to career choices.” Schools have reported that these connections are pivotal for students in achieving their ideal positions and cultivating life-long relationships in the field.
Mentorship is also a staple of the career path designed for students at powerhouse business schools like the Yale School of Management, which recently revamped its WE@Yale program.
Change Your Perspective
When under pressure, remember to give yourself a break. Exercise and meditation are steadfast options, but use your imagination. Jerry Seinfeld reportedly displayed images from the Hubble Space Telescope on the walls of his writing room to calm his nerves. ”I don’t find being insignificant depressing. I find it uplifting.”
Completing your MBA is a personal exploration above all else. Don’t forget your true entrepreneurial spirit while finding your footing. After all, changing ones career is the second most common reason, according to students, that they pursue an MBA in a first place.
Experiment With Electives
Special projects and electives are a chance to step out of your comfort zone. These courses are updated on a yearly basis, meaning that they cover cutting-edge topics that can open up new worlds and help you garner skills that separate you from the rest.
For example, the Stern Signature Project at the NYU Stern Center for Business and Human Rights recently led students to create a business plan “focused on sustainable employment and profit” for a private Kenyan social enterprise.
The NYU Stern Center for Business and Human Rights launched in 2013, focusing on various issues like manufacturing, sustainability, and much more.
Get To Know Your Pack
A drive to succeed doesn’t mean that you have to be the lone wolf on Wall Street. Every MBA program has students who come from unique backgrounds, cultures, and histories. These are your future colleagues. They’re also hidden mentors who may be your most valuable supporters.
Many schools, like the Wharton School at the University of Pennsylvania, actively acclimate their students together with unique Olympic-like events, helping bridge the various cultural gaps of the incoming students. Not only are these events fun, unless you hate being outside or sack races, but they are potentially powerful networking events for you and your peers.
How To Break Into the Tech Industry: Intuit Inc.
Since 1983, Intuit Inc.—the Mountain View, CA software company that spearheaded the creation of products like TurboTax, Quickbooks, and Mint—has effectively changed the way the average person manages their money. And with more and more MBAs shedding their finance industry aspirations for a role in tech, a job with one of the most well-regarded tech organizations is looking especially ideal.
Why Should I Join Intuit Inc.?
Intuit Inc. was ranked 13th overall on Fortune’s 2017 list of the “100 Best Companies to Work For,” and 30th overall on Glassdoor‘s newest “Best Places to Work” list. The company takes a holistic approach to ensuring company well-being. Intuit has 24-hour onsite gyms, and even provides a certain amount of bicycles for employees who bike to work. Fortune listed job perks like telecommuting, compressed work weeks, college tuition reimbursement, daily free time to pursue other projects, and paid time off for volunteering.
Many of the positions at Intuit are, unsurprisingly, tech-based, so an MBA may not be as advantageous in getting an engineering position. However, according to PayScale data, MBAs are typically the highest earners at Intuit, with the average MBA earning nearly $125,000 per year.
What Internships are Available?
Intuit Inc. has a specific internship for MBAs: the MBA Intern Marketing Manager position. This internship is offered in Intuit’s California locations in Mountain View and San Diego, as well as in Plano, Texas. In this position, MBAs help the company gain insight into the needs of customers and the effectiveness of current marketing strategies, through research and testing. According to the company website, these interns also have the opportunity to partner with teams working in, “Product Management, Development, Finance and Care.” This is a paid summer internship, so students can cover the cost of living while observing and contributing to innovations at a leading software company.
Intuit is currently offering a variety of other internship positions that might be appropriate for MBAs, such as a Marketing Intern position in London. MBAs specializing in Supply Chain Management can apply to be Supply Chain Specialist Interns, and work closely with Intuit’s Supply Chain Finance team.
At the company, it is not uncommon for intern’s to parlay their positions into full-time jobs after graduation. The company’s website says that its internship program, “is truly an ‘early identification’ program, focusing on identifying and investing in high potential university students really to encourage them in their early careers and potentially to bring their talent back to Intuit after graduation.”
How to Get Hired at Intuit
In recent years, Intuit has moved from a traditional interview process, to an innovative method of vetting candidates that incorporates virtual reality. Their hiring program, Assessing for Awesome (A4A), requires that candidates: “Speak for five minutes about themselves; speak for 15 minutes about two or three projects of which they’re proud; prepare a 15-minute presentation on a case study or coding exercise; participate in a 25-minute question and answer period.” The interview is conducted by an advanced staff member who works closely with the position in question. The company uses virtual reality to allow candidates to demonstrate their skill sets.
Intuit Inc. hires graduates and interns from a number of the top-rated business programs in the country, including the Northwestern University Kellogg School of Management in Chicago, Illinois, which brought in full-time employees and interns from the most recent graduating class. Some of the most highly-regarded MBA programs offer various tech industry advantages, including the recently introduced Tech MBA at NYU Stern, and the promising new Cornell Johnson Tech MBA, offered at the school’s new New York City campus.
For more information on which school’s provide the best opportunities to join the tech industry, head on over to our sister site Clear Admit, which recently took a look at programs from other established institutions like the UCLA Anderson School of Management and MIT Sloan.
