Investment or Tech: Which Industry is Right For Your Career?
Job hunting between a career in investments or tech is a good problem to have. Each one, especially with an MBA under your belt, has enormous earning and growth potential, job security, and perks.
Continue reading…Friday News – Booth Expands London Campus, Berkeley Haas MBAs Explore Pay Gap, and More
Let’s take a look at some of the biggest stories from this week, including Chicago Booth London expanding.
Chicago Booth Expands Presence in Europe with new Facility in London – Chicago Booth Newsroom
University of Chicago’s Booth School of Business will be expanding its London campus, the center of which will be a newly constructed building adjacent to the Museum of London and St. Paul’s Cathedral.
The move from the current campus in the Financial District will be complete by spring 2020. The new location will serve as the home of the Booth Executive MBA Europe program, as well as various events, seminars, and conferences. Madhav Rajan, Dean and Professor of Accounting at Chicago Booth, says, “Our campus will be located in the heart of the City, in a newly developed neighborhood that showcases the best of London. I expect this will serve as a vibrant home for our faculty, staff, and students, and as a welcoming venue to host our external community of alumni, prospective students, and corporate and government partners.”
The 44,000 square-foot building will be comprised of two executive style multi-tiered classrooms, open meeting areas, and flexible event space. Booth’s European campus has been active since 2005, and was previously located in Barcelona, Spain.
For more on the new Chicago Booth London campus, click here.
Georgetown McDonough MBA Students Consult for WMATA to Improve Metro’s Image as Transit Provider, Employer – McDonough School of Business News
Georgetown University McDonough School of Business second year MBAs recently met some tough challenges—encouraging ridership on DC’s Metro, along with presenting the agency as an appealing employer.
As part of a recently redesigned core course, Managing the Enterprise, students embarked upon a seven week consulting study called The Metro Challenge. Finalists pitched their ideas to WMATA executives, who selected the most workable solution to the problems that they presented.
Practice in Management Professor Nick Lovegrove says, “In management courses, which tend to be a bit abstract, it really helps students to collaborate with an organization to provide a sense of reality … The fact that the WMATA is on the cusp of the public and private sectors means the issues they face are classic Washington issues.”
Practice in Management Professor Nick Lovegrove says, “In management courses, which tend to be a bit abstract, it really helps students to collaborate with an organization to provide a sense of reality … The fact that the WMATA is on the cusp of the public and private sectors means the issues they face are classic Washington issues.” The organization manages a $3.2 million budget, along with roughly 13,000 employees.
One winning team suggested a greater presence of technology such as smart apps to improve both employee and customer experience, while the other suggested mentorship programs and employee exchange programs to enhance operations. For more on the case study, click here.
Amir Yaron, Professor of Finance, Awarded Prestigious Stephen A. Ross Prize for Landmark Paper – Wharton News
Amir Yaron, Professor of Finance at the Wharton School, and Ravi Bansal, J.B. Fuqua Professor of Finance and Economics at Duke University have been recognized with the Stephen A. Ross Prize for their research paper, “Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles.”
The $100,000 Ross Prize is a bi-annual award given to those who have made significant contributions to research in financial economics. Yaron and Ransal’s paper, which examines the drivers behind movements in asset pricing movements along with factors that determine expected returns on financial assets, is the sixth winner of the prestigious award. It is given by The Foundation for Advancement of Research in Financial Economics (FARFE), which serves as a bridge between theory and practice in the field.
Lars Hansen, Professor of Economics at the University of Chicago and Winner of the 2013 Nobel Prize in Economics, says of the paper, “This truly innovative paper … added an intriguing new perspective to asset pricing theory.”
You can read here for more on the paper and on the FARFE.
MBA Students Fight the Gender Pay Gap—One Offer at a Time – Berkeley Haas Student News
Two Berkeley Haas MBAs, Christina Chavez (’19) and Jack Anderson (’19), have decided to do their part for gender equity in pay through their work with the Haas Gender Equity Initiative.
Chavez, who will work at Google after graduating, discovered just how large the pay gap was when she joined an online compensation board called Blind. “People were posting their data, and we started saying ‘whoa’ there’s some major differences in how our colleagues are getting paid,” she says.
This realization prompted her and Anderson to set up a spreadsheet in which they and their classmates could share their earnings data. The students transformed this data into the Haas Wage Gap Infographic, which showed that the wage gap was closing, with women earning 96 cents of every male dollar. Alumni with over 10 years of experience, however, showed a much wider pay difference.
Assistant dean of MBA Career Management and Corporate Partnerships, Abby Scott, says, “I don’t think that we know the real cause of the long-term pay gap, but we are advising students to make sure they’re negotiating salary and thinking beyond compensation—and we speak frequently to women about both the importance of negotiation and taking on leadership roles.”
You can read here for more on the Gender Equity Initiative at Haas.
Shared Space Under Pressure: Business Support for Civic Freedoms and Human Rights Defenders – NYU Stern News & Events
On Monday, April 8, the Stern Center for Business and Human Rights hosted the Shared Space Under Pressure event, with the aim of discovering how companies can best support civic freedom and human rights in their practices.
Speakers addressed the standards by which organizations can improve their approaches to these issues, and also the outcomes when business leaders do not take them into account.
The panel included Stern Professor of Ethics and Finance Michael Posner, Bennett Freeman, Principal author of “Shared Space Under Pressure”; Principal, Bennett Freeman Associates LLC; Deputy Assistant Secretary for Democracy, Human Rights and Labor from 1999-01; and Bobbie Sta. Maria, Director for Labour Rights and Asia, Business & Human Rights Resource Center.
For more, visit Stern’s event page.
New MBA Jobs: Apple, Fidelity, BlackRock, and More
Whether you earned your MBA after your undergraduate studies and want a great entry level position, or you’re a seasoned vet who earned their MBA to make a big career jump, there’s plenty of jobs out there for MBAs. Stay on top of the latest and greatest job opportunities for MBAs with this handy guide, useful for both those looking for their first big job or those looking for the next big thing: Continue reading…
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.
YOU MAY ALSO LIKE: How Philadelphia MBA Programs Help Lower-Income Applicants
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.
Philadelphia or Boston? Where’s the Best Place to Earn a Part-Time MBA
If you are interested in pursuing a degree in a diverse East Coast city, want to be surrounded by history and culture, and still immerse yourself in growing business community, two main cities come to mind: Philadelphia and Boston.
Both cities are at the center of U.S. history, and continue to be some of its largest centers of commerce and academia, with numerous opportunities to put its stellar education to work.
Surrounded by so many possibilities for professional development, an MBA student in a city like Philadelphia or Boston may not want to put their career and income on hold to pursue a full-time degree.
Thankfully, many of the business schools in Philadelphia and Boston offer part-time MBA programs, allowing students more flexibility as they kick off their careers in these exciting cities. But how to decide which one? We’ll take a look at some of the top part-time MBA programs in each metro to help you choose the right city for you.
Location
Once the capital of the United States, Philadelphia has never stopped being a center of both business and history since the time it played host to the country’s founding fathers. Home to some of the oldest and best universities in the country, Philadelphia has experienced a renaissance in recent years as young talent has become priced out of more expensive metros like New York City and Washington DC. The cost of living in Philadelphia remains fairly low, while the ever-growing business scene in the city offers the opportunity for high earning potential. This year, 14 Philadelphia-area companies made the Fortune 500 list.
Like Philadelphia, Boston has been a center of commerce and trade since the days of the Boston Tea Party. Today, the city is home to nine Fortune 500 companies, including major established firms like GE (13th on the Fortune 500 list) and newer but thriving businesses like Wayfair. However, Boston has a much higher cost of living than Philadelphia. The city currently ranks as the third most expensive city in the country.
Programs
Between the Wharton School of Business and the Harvard Business School, Philadelphia and Boston offer two of the most highly regarded MBA programs in the country. However, both of these schools only offer full-time MBA programs. Students looking for more flexibility in their schedules still have a number of stellar programs to choose from.
Most of the part-time MBA programs in the Philadelphia metro work on a hybrid structure, allowing students to take a combination of classes both online and in person. Many programs also offer students the chance to select majors or concentrations in which to specialize their business education. With a variety of possible concentrations at some of the most highly-ranked part-time programs in the country, students from these programs have gone on to find employment at major firms like DuPont, KPMG, and JPMorgan Chase.
Part-Time MBA Programs in Philadelphia Include
- Lehigh University College of Business and Economics
- Fox School of Business – Temple University
- La Salle University
- LeBow College of Business – Drexel University
- Lerner College – University of Delaware
- Rohrer College of Business – Rowan University
- Rutgers School of Business, Camden
- Villanova School of Business
- West Chester University
Like Philadelphia, Boston’s part-time MBA programs offer more flexibility for students to complete their degree on their own time. Most courses are offered in the evening or on weekends, and can be taken over the course of just two years or up to seven. Programs like the MBA at D’Amore-McKim also give students the opportunity to concentrate in fields such as Corporate Finance, Corporate Renewal, Entrepreneurship, and more.
Part-Time MBA Programs in Boston Include
- Carroll School of Management – Boston College
- D’Amore-McKim School of Business – Northeastern University
- F.W. Olin Graduate School of Business – Babson College
- Questrom School of Business – Boston University
- Sawyer Business School – Suffolk University
- Simmons School of Management
Cost
The tuition costs can vary from program to program, and can also be cheaper if the part-time program is competed online. On average, programs in the Philadelphia metro area can range from $45,000-$65,000 for the degree. The range of costs in Boston can be slightly higher, with some students spending up to $95,000 over the course of their degree.
Jobs
Although the cost of an MBA in Boston may be slightly higher than Philadelphia, the difference in average salary between the two cities may even out concerns of cost. In Boston, the average salary for someone with an MBA degree in a field like finance is $112,000, whereas in Philadelphia it is only around $90,000 per year.
Hot MBA Jobs: Marketing Director
For that rare breed of extroverted interpersonal ninja who’s able to see the micro amidst the macro, take the temperature of any given cultural moment and articulate complex information to diverse audiences, you just might be a natural marketing director.
