Top MBA Recruiters: Merck
Global health care is one of the fastest growing sectors in 2019, with Deloitte expecting spending to reach $10.059 trillion by 2022. Thanks to aging and growing populations, you can expect a greater prevalence of chronic diseases, ultimately translating to exponential advances in innovative technologies, medicines, and care.
For MBA graduates, this translates into a huge potential for job opportunities in the health care sector. In particular, there are opportunities for:
- New innovative technologies and personalized programs to engage with consumers.
- Better data security and ownership.
- Increased health care delivery and mobility.
One of the companies at the leading edge of this sector is Merck. Continue reading…
Friday News Roundup – Wharton Opens FinTech Center, Northeastern Students Give Back, and More
Let’s take a look at some of the biggest stories from this week, including the all new Wharton FinTech Center.
Giving Day at D’Amore-McKim – Northeastern University News
On April 11, 2019, Northeastern University will host its Annual Giving Day: a 24 hour event that will support, among other NU endeavors, expansion of D’Amore-McKim‘s programs.
“Giving Day is a great way of getting our entire D’Amore-McKim community to come together to support what makes us remarkable,” Deborah Magnezy, Assistant Dean of Development at D’Amore-McKim, says of the event.
Among the funds to which donors can contribute are a FinTech Initiative, which engages students with the latest in technological advances within the financial services community; the Entrepreneurship and Innovation Fund, which will help create co-ops for students in this field; a Global Learning Fund, and the Digital, Analytics, Technology, and Automation (DATA) Initiative Fund.
Giving Day will feature speakers and activities for alumni, students, faculty and all others who support the school. To learn more about Giving Day, click here.
Wharton Announces Stevens Center for Innovation in Finance – Wharton News
University of Pennsylvania’s Wharton School of Business announced the establishment of the Stevens Center for Innovation in Finance in order to focus on tech innovation across the industry.
Named for Ross Stevens, alum and founder of Stone Ridge Holdings Group, the center will hold its inaugural event on April 3. FinTech leaders such as Wharton alum Jackie Reses, head of Square Capital, and David Klein, CEO of CommonBond, will appear at the event. The Stevens Center will be led by David Musto, Ronald O. Perelman Professor in Finance at Wharton.
According to Penn president Amy Gutmann, “The mission of the Stevens Center is precisely this: to ensure that innovations in finance make the greatest positive contributions to businesses and communities across the globe. The Stevens Center will catalyze Penn’s world-leading research and industry engagement and enrich the opportunities available for our outstanding students.”
The center will welcome business leaders to campus, and will offer students curriculum in FinTech research. It will also offer engagement with Wharton’s various FinTech clubs to open new career pathways for interested students. Along with courses, the center will offer mentorship opportunities and research projects, which will translate into real world applications.
You can learn more about the new Wharton FinTech Stevens Center here.
Gies Students Honored for Southside Startup – Gies College of Business News
Jordan Buckner and Isaac Lozano, two University of Illinois Gies College of Business MBAs, have brought their b-school knowledge to bear in the formation of their Chicago company Tea Squares, and have also created great social impact within the South Side community.
Tea Squares, which are snacks infused with energy enhancing teas, are selling in hundreds of retail stores, including Whole Foods, Jewel, and Mariano’s. In addition, the company’s success has earned the partners acknowledgement by Forbes for its annual 30 Under 30 list. Buckner says of the Forbes mention, “It was awesome to be recognized for creating a great-tasting snack to help people achieve success during their day and also be recognized for our social mission, which is a critical piece [of our business plan]… it was very humbling to be honored in that way.”
TeaSquares founders and Gies alumni Jordan Buckner, left, and Isaac Lozano, seen in their recent Chicago Tribune feature.
Tea Squares offers fellowships via partnerships with community revitalization groups. Through this, Buckner and Lozano find candidates with high-potential for sales, marketing, or production roles. The end goal of the fellowship is to train candidates to pursue their own ventures, thus strengthening the economy of the South Side.
For more on Buckner, Lozano, and Tea Squares, click here.
Stern Announces Major Research on Sustainable Products Market – NYU Stern School of Business News
The Center for Sustainable Business at NYU’s Stern School of Business recently released new findings from its Sustainable Share Index, an analysis of consumer’s purchases of products and business marketed as sustainable.
Over half of the growth in sales of consumer packaged goods since 2013 has been comprised of products with ‘environmentally friendly’ attributes. These items comprised 16.6 percent of consumer sales in 2018. Over the five year period, sustainability-marketed products had an increase in sales of 29 percent, or $114 billion. This may grow to $140 billion by 2024.
NYU Stern professor and founding director of Stern’s Center for Sustainable Business Tensie Whalen says:
“Results from this research reinforce the idea that embracing sustainability leads to better business results. We are excited to launch the Sustainable Share Index and look forward to continuing our research in the years to come.”
Other experts on sustainable business were quick to remark on this “eye opening” study. “Companies should take notice—the benefits of sustainability cannot be ignored … In fact, this groundbreaking research shows the significant impact that sustainable products have on overall category growth.” notes Randi Kronthal-Sacco, senior scholar in Marketing and Corporate Outreach from the Stern’s Sustainable Business Center.
For more on the Sustainable Share Index and the recent research, click here.
Berkeley Haas Hosts 23rd Annual Women in Leadership Conference – Berkeley Haas News
The University of California’s Berkeley Haas School of Business‘ Women in Leadership Conference takes place this weekend, March 16, 2019.
A team comprised of Berkeley Haas MBAs has worked for months to produce the 23rd annual event, which is the school’s longest running conference. With over 300 attendees expected to attend and 20 speakers on various issues affecting women across the world, WIL’s 2019 theme will be “Your Stories, Your Growth”.
Dean Ann Harrison will open the event with a welcome address. A keynote speech, panel discussions, and breakout sessions are to follow. Erin Casale, MBA 19 and WIL conference team member says of this year’s theme, “Stories inspire change, and that’s our ultimate collective goal … We recognize that everyone attending this conference brings something to the table.”
Members of the 2019 Women in Leadership Conference at the UC Berkeley Haas School of Business / Photo via http://newsroom.haas.berkeley.edu
Other speakers will be Sandra Lopez, VP at Intel Sports; Tyi McRay, interim director of diversity at Airbnb; Elena Gomez, CFO of Zendesk, and Brandi Pearce, lecturer in the Management of Organizations at Berkeley Haas.
Casale notes that the goal for the conference is to plant the seeds for change for those who attend.
“For us, it will be a win if attendees come away with a clear next step of what they can do to set themselves and their peers on a better path toward equity and inclusion … We want people to feel equipped for change and inspired to start it.”
Click here for more on this year’s conference.
Wharton Takes Over Top Spot on New U.S. News MBA Ranking
Harvard loses its crown, Wharton ranks first, and Purdue stumbles in new U.S. News & World Report “Best Business Schools” ranking.
The annual U.S. News & World Report Best Business Schools ranking, largely regarded as the most prominent MBA ranking system in the United States, debuted its newest annual listing, with The University of Pennsylvania’s Wharton School taking the top mantle.
The Philadelphia metro business school ascends past Harvard Business School and the University of Chicago Booth School of Business—both tying for first last year. Both schools took a minor tumble to the third overall spot, sitting in a three-way tie with the MIT Sloan School of Management. Stanford’s Graduate School of Business lept into the second overall spot, which comes just a few months after the Silicon Valley school maintained its status as the best in the world according to the Financial Times.
U.S. News & World Report Top 10 Business Schools
| School | This Year's Ranking | Last Year's Ranking |
|---|---|---|
| Wharton (University of Pennsylvania) | 1 | 3 |
| Stanford Graduate School of Business | 2 | 4 |
| Harvard Business School | 3 (tie) | 1 (tie) |
| Booth (University of Chicago) | 3 (tie) | 1 (tie) |
| Sloan (Massachusetts Institute of Technology) | 3 (tie) | 5 |
| Columbia Business School | 6 (tie) | 9 |
| Kellogg (Northwestern University) | 6 (tie) | 6 |
| Haas (UC Berkeley) | 6 (tie) | 7 (tie) |
| Yale School of Management | 9 | 11 (tie) |
| Fuqua (Duke University) | 10 | 11 (tie) |
Within the top 50 business schools, this year’s ranking largely resembles last year’s. In fact, only three business schools—the University of Pittsburgh Joseph M. Katz Graduate School of Business, the Iowa State University Ivy College of Business, and the The Manderson Graduate School of Business at the University of Alabama—moved into the top 50 since last year. The three business schools to fall out of the top 50 were Rutgers Business School, the Haslam College of Business at The University of Tennessee, Knoxville, and the University of Utah David Eccles School of Business. All three moved down the ranking by at least 10 spots each.
U.S. News Ranking Rising Business Schools
No school saw a better year-end turnaround than the aforementioned Iowa State University Ivy College of Business. The Midwest business school moves from the 79th spot last year to 47th this year; a 32-spot increase. On the news of the new ranking, Dean David Spalding says in a press release, “This significant rise in the ranking is a direct result of the quality work our faculty do every day in the classroom. At a time when some universities are dropping their full-time MBA programs, the Ivy MBA continues to excel. Our internationally known faculty provide a top-notch MBA experience that helps our MBA graduates advance their careers to the next level.”
Iowa State University’s Ivy College of Business earns the biggest ranking bump from U.S. News this year, moving up 32 spots from last year.
Ten schools in the top 100 saw double-digit rankings jumps, with Iowa State accruing the greatest increase. The University of Kentucky Gatton College of Business and Economics, the Oklahoma State University Spears School of Business, and the Babson College F.W. Olin Graduate School of Business all saw a rise of at least 20 spots this year as well.
Purdue, Case Western Stumble
On the opposite end of this year’s ranking is Purdue University’s Krannert School of Management, falling a total of 21 spots from 53rd last year to 74th this year. The University of Kansas School of Business and the Saunders College of Business at RIT join Krannert as this year’s three biggest falling schools, each dropping at least 20 spots respectively. Like most of the annual U.S. News rankings, the placement fluctuation is much more apparent the further and further down the list you go, with schools in the top 50 largely remaining stable.
U.S. News 2020 Ranking Methodology
To formulate its ranking, U.S. News & World Report analyzed “475 MBA programs accredited by the Association to Advance Collegiate Schools of Business International.” A total of 367 schools responded to its surveys, but only 131 schools made the final ranking “because they provided enough of the required data on their full-time MBA program that were needed to calculate the full-time MBA rankings, based on a weighted average of the indicators.” Those indicators, with the weighted values, are as follows:
Quality Assessment (0.40)
• Peer assessment score (0.25)
• Recruiter assessment score (0.15)
Placement Success (0.35)
• Mean starting salary and bonus (0.14)
• Employment rates for full-time MBA program graduates
Student Selectivity (0.25)
• Mean GMAT and GRE scores (0.1625)
• Mean undergraduate GPA (0.075)
• Acceptance rate (0.0125)
Did The Methodology Changes Affect This Year’s U.S. News Ranking?
Last September, calls for changes in the MBA ranking methodology seemed to be answered by several large publications, including U.S. News. The company’s Chief Data Strategist, Robert Morse, noted, “There is an active and ongoing debate about how to best measure quality in education, and we pay close attention to that debate. Over time, our ranking model has put more emphasis on outcomes measures … As part of this evolving process, we’ve wanted to measure whether schools were successful at serving all of their students, regardless of economic status.”
The overarching issue seemed to lie within a framework that continually rewarded students and business schools that actively enrolled more and more students from affluent families. In response, U.S. News decreased its ranking value of acceptance rates, which previously rewarded schools that were more selective. Now, as seen above, the weighted value of acceptance rates is less than 1 percent.
However, the changes in the formula did not seem to bare much tenable change in the outcomes. The top 50 schools were largely unchanged, with only minor variances. Several schools, such as Iowa State and Oklahoma State were handsomely rewarded in the new ranking, moving up at least 20 spots each. However, schools rising and falling by 10, 20, even 30 spots in a given year isn’t a new occurrence. In fact, last year, nine schools in the top 100 rose at least 10 rankings from the previous year.
Stay tuned to MetroMBA for more information and analysis of this year’s MBA rankings.
Friday News Roundup – Harvard Online Expanding and Joshua Harris Giving Back to Wharton
Let’s take a look at some of the biggest stories from this week, including Harvard Online expanding its program.
Wharton School Receives $10 Million Gift from Josh and Marjorie Harris – Wharton News
The Wharton School of the University of Pennsylvania recently announced a major gift that will strengthen the school’s programming in alternative investments.
The Joshua J. Harris Alternative Investments Program brings students, faculty, and leaders in the industry together to explore the latest advancements in hedge fund management, private equity, investment management, and venture capital. Named for 1986 grad Joshua Harris and his wife, Marjorie, the donation of $10 million will not only enhance the curriculum, but will also enable Wharton to sponsor multiple events on the latest developments in this class of investing.
“The Harris’ extraordinary gift … will significantly expand student opportunities, advance new knowledge, and meaningfully engage the University community, which are key priorities for Penn,” says University President Amy Gutmann.
Josh and Marjorie Harris are also founders of the Wharton Private Equity Professorship, and Josh is a member of Wharton’s Board of Overseers. The couple’s support of the school extends also to endowments for scholarships and Penn athletics. Josh Harris is founder of Apollo Global Management, a worldwide leader in alternative investment. His business ventures have brought him to the world of sports management. Currently, Josh is a majority owner of the nearby Philadelphia 76ers and the NHL’s New Jersey Devils. He is also a current minority owner of Crystal Palace in the EPL.
Of his involvement at the school, Harris says:
“I know first-hand that Wharton students are creative, entrepreneurial, and eager for new challenges—attributes that the great leaders of the industry possess. I look forward to the Harris Program inspiring our students to pursue transformative opportunities and develop into future leaders of the industry.”
You can read more about the Harris family’s donation here.
The Future of Healthcare Symposium – Pepperdine News
On March 21, 2019, the Pepperdine Graziadio School will host its 5th Annual Future of Healthcare Symposium, which will address the growing presence of artificial intelligence and smart machines in healthcare delivery systems.
Keynote speakers are Jeff Stibel, Ph.D., author, USA Today columnist and Vice Chairperson of Dun & Bradstreet; and Professor Eric Topol, MD, Founder and Director of The Scripps Translational Science Institute and Executive Vice President of The Scripps Research Institute.
Dr. Stibel received an honorary doctorate from Graziadio, and is also the recipient of a brain and behavior fellowship from Brown University. His company, BrainGate, has employed AI to treat neurological disorders. Stibel is also a thought leader on methods of keeping the brain healthy in the digital age.
Dr. Topol’s presentation, Deep Medicine: How Artificial Intelligence Can Make Healthcare Human Again, will examine the ways in which smart technology can humanize medical treatments as opposed to distancing patients from their caregivers. He will also explore genomics and digital medicine in the training of medical staff.
Panelists will discuss the ways in which technologies such as AI have enhanced patient experience while improving business models at various organizations.
For more on the symposium, click here, and check out some highlights of last year’s event below.
Harvard Business School Online Announces Two New Courses, Leadership Principles and Global Business – Harvard Newsroom
Harvard Business School online will offer two new courses this spring, expanding choices for those who pursue the degree as they advance their careers.
The new Leadership Principles course aims to give students practice in developing a leadership style, or in honing an existing style for the best workplace outcomes. Students will have the opportunity to interact with their peers via case studies and presentations during this course.
In the Global Business course, professors who are also heads of global organizations will address macroeconomic indicators and the power of effective public policy.
Patrick Mullane, Executive Director of Harvard Business School Online, says of the new offerings:
“We’re pleased to offer these new courses to help leaders better drive their businesses and propel their careers during volatile times … Professors Joshua Margolis and Tony Mayo are extraordinary faculty who will instill confidence and strengthen leadership capabilities for professionals ready to take the next step. Forest Reinhardt is a world-class economist who will equip participants with the tools they need to anticipate and capitalize on global developments.”
Visit Harvard’s online course guide for more info on cost, dates, and program details.
Findings: Should I Extend My Brand? – Tuck News
Kevin Lane Keller, the E.B. Osborn Professor of Marketing at Dartmouth College’s Tuck School of Business recently shared some knowledge on the concept of ‘brand stretching,’ in which companies known for one exceptionally popular product decide to diversify. His research was recently featured on Tuck’s news page.
Levis, for example, once attempted to launch a line of three-piece suits. Which, rather predictably, did not sell. The suit concept was too far a departure for consumers that were accustomed to Levis jeans. The company then launched Levis Cotton Dockers, which (for better or for worse) became such a huge-seller that Levis was able to drop their name from the brand now known simply as “Dockers.”
After the commercial disappointment of Levis’ ill-fated three-piece suit concept, the jean manufacturer learned the hard way that consumers do not typically respond well to major aesthetic departures.
Keller’s theory is that company’s can expand best into new product lines with small incremental steps.
“By introducing a series of closely related but increasingly distant extensions, brands can enter product categories that would have been much more difficult, or perhaps even impossible, to enter directly,” Keller notes. Another example of this is Crayola, which was known at one time for just crayons, but which then expanded ultimately to become the leading brand for kids’ craft-based products of all types.
This kind of brand expansion takes time, Keller cautions, and companies should be wary of expecting success at the outset of any new product venture. He offers three distinct elements for brand stretch success. An expansion must be desirable from a consumer standpoint, differentiated from a competitive standpoint, and deliverable from the company standpoint.
Keller points out the fact that most new products fail, so developer are wise to focus on the ‘differentiation’ part of brand expansion.
Double Victory for MBA Teams at UCLA Energy Competition – Haas Newsroom
Teams from Berkeley Haas School of Business recently earned both first and second place in UCLA’s 6th Annual Challenges in Energy Case Competition on February 8-10, 2019.
The teams were faced with the challenge of how to monetize the state of California’s race toward electric transit, particularly in light of the 2028 Olympic Games coming to Los Angeles. The teams were allowed to be involved at any part of the product supply chain, and they were allowed to model themselves as either new or existing companies.
The LA Cleantech Incubator is collaborating with local government and business, including the electric utility SoCal Edison to surpass the city’s goal by 25 percent for use of electricity for transportation. The first place team, Team Vinculara, proposed a blockchain-based platform that would aid in distributing low carbon fuel standard credits to owners of electric vehicle fleets.
Second place Team Metromile proposed combining Metromile’s (California’s pay per-mile auto insurance program) with a cash advance to encourage use of electric vehicles, while pushing the company to become the preferred provider of auto insurance.
“All the teams worked really hard and we were honored to be chosen as finalists … When the judges announced that both first and second teams went to Haas, I felt especially proud to share the stage with my classmates,” says CiCi Saekow of Team Metromile.
For the full press release, visit Berkeley Haas’ website.
MBA Job Profile: Senior Analytics Consultant
If you’re interested in big data, including developing and implementing analytics solutions at an organization, a job as a Senior Analytics Consultant could be ideal for you. You’ll be responsible for creating data mining projects and using that information to increase consumer brand awareness and revenue.
Currently, it’s still a somewhat developing field. However, many top companies regularly hire Senior Analytics Consultants, including Wells Fargo, Deloitte, Humana, Accenture, and KPMG. And, by 2020, the big data and business analytics market may reach $203 billion.
What is a Senior Analytics Consultant?
Senior Analytics Consultant are responsible for examining systems and recommending methodologies for improving data and usage. This includes executing data quality and data auditing plans as well as evaluating and presenting on your findings. In fact, one of your major job duties will be creating reports and suggesting business process changes for business users based on your analysis of large amounts of information and data. You’ll also be responsible for interviewing users to identify data needs and delivery mechanisms while also documenting process flows to fulfill business needs.
The role of a Senior Analytics Consultant is similar to most other consulting positions. You’ll be expected to demonstrate leadership qualities will also working well with a team. Regularly, you’ll work closely with other business departments on time-sensitive projects that you’ll have to prioritize in order of importance. In particular, you’ll be expected to demonstrate specific skills including:
- Data Analysis
- Web Analytics
- Data Modeling
- Project Management
- SAS
- SQL
- Statistical Analysis
In fact, according to PayScale, knowledge of web analytics, data modeling, and project management correlate to a pay increase of 23 percent, 17 percent, and 13 percent, respectively.
How Much Does It Pay?
As for what you can expect to earn as a Senior Analytics Consultant, on average base pay starts at $133,343 and generally ranges from $116,885 to $147,822. Top earners may expect salary around $164,298.
However, salary can vary greatly depending on experience. About 38 percent of Senior Analytics Consultants have between just zero and two years of experience, while another 38 percent have between five to ten years of experience. The remaining 25 percent have between two and five years of experience.
Pay also depends on where you’re willing to live. Boston pays the best with average salaries 28 percent above the national average while Minneapolis is one of the worst paying with salaries 7 percent below the national average. Other cities that pay well include:
- Seattle (5 percent above avg)
- Atlanta (5 percent above avg)
- New York (4 percent above avg)
- San Francisco (4 percent above avg)
- Chicago (2 percent above avg)
Getting Started
The minimum requirement to be a Senior Analytics Consultant is a bachelor’s degree in mathematics, statistics, accounting, or a related field. Typically, industry experience in analytics reporting and industry-standard analytics software is also preferred. There are also potential industry certifications that can improve your chances such as the Amazon Web Services (AWS) Certified Big Data – Specialty. Other potential certifications can be found here.
Another great place to start in this career is with an MBA from a top-notch program. Here are a few of our favorite programs to help you on your career path.
Harvard Business School
In March 2018, Harvard Business School welcomed its first cohort of students to its online certificate program in business analytics. This certificate goes into the latest research on how data analytics plays a role in business and brings together HBS with the Harvard John A. Paulson School of Engineering and Applied Sciences. MBA graduates are welcome to expand their analytics skills with this immersive experience.
The Wharton School
The Wharton School knows what it takes for a career in data and analytics—significant research and networking. That’s why for MBAs at Wharton there are many opportunities to expand your skill and background in this area. There’s the MBA Data and Analytics Club (WDAC) and the Wharton Customer Analytics Initiative (WCAI), both of which stress the field of analytics. Wharton MBA students also have access to workshops where they can learn coding languages including R (Open Source Software), SQL, and Tableau.
Tepper School of Business
At Carnegie Mellon University’s Tepper School of Business, students can earn an MBA in Business Analytics. This specialized MBA program offers advanced courses in data analytics to improve business outcomes including theoretical and broad application knowledge. The program looks for business-minded students who want to develop their skills to make better data-driven business decisions. When students graduate, they walk away with hands-on experience in analytical tools and methodologies that will be valuable for their future careers.
3 Essential MBA Essay Question Tips
For many applicants, the MBA essay question is the single most terrifying and challenging part of the entire MBA application. More than your GMAT, GPA, or resume, the essay is extremely personal. The admissions committee uses it to get to know who you are, what you want, and how you’ll fit. And that’s a lot of pressure.
To succeed in your MBA essay, you have to know who you are well enough to paint a comprehensive picture that the admissions committee will keep reading until the last word. You want your story to be interesting, to answer the essay prompts, and to demonstrate “why you.”
And though every school has different MBA essay prompts, three essential elements are always vital. Continue reading…
