Are MBAs for losers?

If you decide to return to school to gain an MBA, it seems like a declaration of ambition to grow. But Penelope Trunk views it differently: An admission you are failing at your work. With admission deadlines for many schools coming up, she urges you to withdraw your application or stop working on it. “Because you should not go to business school. If you want to start a company, you should start a company. And if you want to climb the corporate ladder you should do that. An MBA does not help you with either of those goals,” the provocative careers blogger insists. For many people, the MBA is a path to middle management. But she argues if you’re a strong performer you’ll get into middle management faster by working than taking two years off for studies. And if you think you need to go to MBA school to become an entrepreneur, she says you’re clearly not cut out to be one. She sketches out various types of performers who take MBAs, including: People who work with morons: After all, if you were working with talented people they would want you to stay alongside them. “If you are due for a promotion and your boss says you need an MBA to move up, your first thought should be ‘My company sucks.’ Because an MBA doesn’t teach you anything you can’t learn on the job or teach yourself as needed. If you absolutely have to get an MBA to move up at your company then get a mail-order MBA from a terrible school that requires very little effort,” she writes. People who can’t close in the job chase: They hate job hunting, so they hope the MBA will land them...

Banks try to lure MBA graduates away from Big Tech...

Going to business school enabled Alessandro Scauzillo to achieve his ambition of moving from a job in tech into banking. He is now a product manager in the online trading division of UniCredit Group. But despite studying at MIP Politecnico di Milano, in the heart of Italy’s banking hub, he was the only member of his cohort of 29 on the full-time MBA programme to join a financial services business after graduation. “Most people in my class wanted to start businesses,” Mr Scauzillo says. Investment banking has lost its business school chic. Finance was the most popular career choice for MBA graduates in 2009, by 2016 it had been replaced by consulting jobs and marketing roles in other companies, according to data compiled by the Graduate Management Admission Council. Amazon, Google and Microsoft have arrived in force on campuses, and now vacuum up the talent at many leading business schools. Big Tech made the largest group of student hires from Mr Scauzillo’s year at MIP. The biggest recruiter at Duke University’s Fuqua School of Business this year was Amazon. The US school’s top 10 hirers consisted entirely of tech companies and management consultancies. “Banks still hire people but they have to up their game,” Bill Boulding, dean of Fuqua, says. “If you are going to attract the current generation of students you have to give them something that has meaning and purpose, not just the opportunity to make a lot of money.”… Read full story: Financial...

3 Things You May Not Know About Online MBAs

Online MBA programs continue to expand in the graduate management education marketplace. According to the Graduate Management Admission Council’s Application Trends Survey Report, 47 percent of online MBA programs reported application growth in 2017. But some stereotypes persist regarding the kind of experience you’ll receive compared with a traditional MBA format. Many wonder about the faculty for online programs, whether the instruction really rivals that of students learning on campus and whether such programs offer the types of scholarships or financial assistance found at full-time MBA programs. The good news for prospective online MBA applicants – particularly women, whose interest in this format option has outpaced men in recent years – is that a number of these programs deliver an evermore competitive educational experience. Here are three aspects many online MBA programs offer that you may not be aware of; keep these in mind as you consider where to enroll. • 1. They offer top-notch faculty and instruction. The mark of a high-quality online MBA program lies in who is providing the instruction. “Students take the same classes from the same faculty as they would in our on-campus programs,” Amy Hillman, dean of Arizona State University’s W. P. Carey School of Business, said via email. “We began offering online degrees in the early 2000s, long before it was as widely accepted as it is now. So, we know from experience how to deliver great content to students and offer a flexible degree that will ultimately help them take that next step in their careers.” At Temple University’s Fox School of Business, on-campus faculty create and deliver all course content. The part-time online MBA at Carnegie Mellon University’s Tepper School of Business offers flexibility to working students as well as...

What MBA programs must do to stay relevant

A globally competitive, fast-changing MBA market – as is the case today – puts pressure on business schools to be flexible, responsive and innovative to prosper in uncertain times. “Tomorrow’s MBA is being disrupted,” concludes a new report on business education by London-based consultants CarringtonCrisp and the non-profit European Foundation for Management Development, citing shifting demands by students, rising expectations of employers and advances in technology. “For business schools wanting a strong MBA offer, innovation is likely to be a necessity, because sticking with the past could mean missing out on tomorrow’s MBA.” Study author Andrew Crisp envisages “a couple of different paths” for MBAs of the future. On one front, top-ranked schools will modify content and delivery but look much as they do today, he predicts, while others will embark on “all sorts of experimentation” to secure their footing in an evolving market. “Very much out of necessity, there is a drive to innovate,” he says. This year, for the first time, the annual study of 1,500 prospective MBA students from 75 countries (including Canada) found a slight preference for the full-time, one-year MBA over traditional two-year programs. As well, what students want to study has changed since the first survey conducted seven years ago. Today, one in four students (no matter their ultimate career) wants to study entrepreneurship, up from one in five just a year ago. Project management, technology management and data analytics are newcomers to the current top-10 list of popular content, joining entrepreneurship as an already-hot topic. Canadian business school leaders say the study’s findings ring true for their circumstances. Whether old hands or newly-minted deans, they see escalating pressure to stay relevant with new content, new modes of delivery, additional degree offerings and...

Emotional Intelligence Is Key To MBA Admissions Success...

Anyone who’s ever taken a cursory glance at MBA admissions literature has probably noticed one thing: candidates with serious quantitative skills are in high demand. If you’re applying to business school, you’ve got to demonstrate how accurate and efficient your number-crunching powers are, whether by GMAT scores, previous work experience, or some other metric. Historically, what often gets played down or overlooked among applicants are less quantifiable skills, like emotional intelligence. EQ is the latest b-school buzzword making the rounds. This is part of an industry-wide effort to “make MBA students more…interpersonally savvy,” believes Paul Bodine, of Paul Bodine Consulting/Admitify. Northwestern University’s Kellogg School of Management’s ‘how have you grown’ essay prompt is an example of how “all top schools now encourage candidates to be authentic about their personal growth in their applications,” says Paul, “partly because they want students who have the self-honesty and self-knowledge to be able to admit to and learn from mistakes and setbacks.” Recent studies correlate EQ with personal and professional success. Indeed, Aarti Ramaswami, academic director of the ESSEC Global MBA, published a paper exploring the topic, drawing connections between EQ and salary. Emotional intelligence is a loosely defined skillset that people use to interpret the emotions of others, manage their own emotions, and inspire teams, which is where the true value of EQ arises… Read full story:...

3 Reasons to Earn an MBA Outside the US

It seems there’s never been a better time to consider pursuing an MBA abroad. According to the Graduate Management Admission Council’s recently released “Application Trends Survey Report,” in 2017 a majority of business school programs in Europe, Canada, both East and Southeast Asia and India reported growing application volumes. These days, a high-quality graduate business education can be found in almost every corner of the world. For years, Europe has rivaled the U.S. with top-notch programs. With several excellent one-year program options that carry a lower price tag than their American counterparts, Europe lures in many international professionals looking to enhance their careers without sacrificing two years of salary and opportunity costs. But the possibility of shorter, cheaper MBA programs isn’t the only appealing aspect of earning an MBA overseas. Consider these additional three reasons to expand your b-school search beyond U.S. borders. 1. You’ll build an international network. We’ve all heard the adage, “It’s not what you know; it’s who you know.” Nowhere is that more true than in business school, where the potential to network is arguably the most valuable aspect of the MBA experience. Although American business schools offer powerful alumni networks, so do international MBA programs. For example, HEC Paris offers one of the largest alumni networks in Europe, with more than 50,000 individuals based in 130-plus countries. U.S. Students Should Consider MBA Abroad If your professional aspirations include globe-trotting and working in international locations, it makes sense to either study in the region where you hope to one day work or among an ultra-diverse cohort of students who can help you land that coveted position in Paris, Hong Kong or Dubai. 2. You’ll be more attractive to employers. Having international experience that goes beyond...

The MBA existential crisis

U.S. graduate business schools — once magnets for American and international students seeking a certain route to a high income — are in an existential crisis. They are losing droves of students who are balking at sky-high tuition and, in the case of international applicants, turned off by President Trump’s politics. Why it matters: The once-venerated MBA is going the way of the diminished law degree, pushed aside by tech education. Graduates of the top 25 or so MBA schools still command the elite Wall Street and corporate jobs they always did, but the hundreds of others are scrambling, and some schools are shutting down their programs. Survivors are often offering new touchy-feely degrees like “master of social innovation.” The background: Most top-ranked U.S. business schools are doing just fine. Sixteen of the top 25 reported a jump in MBA program applications for the 2016-2017 academic year, and four schools — Yale, Columbia, Carnegie Melon, and the University of Chicago — saw double-digit leaps, per Poets & Quants, a website that covers graduate business education. The problem: In the more than 350 programs that didn’t make the top ranks, rising tuition costs and smaller returns in the form of employment and income have forced a rethink of the traditional MBA degree. Campus recruiting at lower-ranked schools is down: In a survey by MBA Career Services, the 30 schools ranked 21 to 50 reported a 42% decrease in recruiting by companies in 2016. In 2015, this same group reported an 83% recruiting increase. The value of an MBA is uncertain: MBA grads are facing shifting expectations from employers with more options than ever. “Especially for someone who might be 25 or 30, they’re leaving with an MBA, and there’s a...

How business schools help stressed-out MBAs

There’s no denying that the world of business can come with intense pressure and immense stress. For those with an MBA or executive MBA to their name, the strain can start on campus. The workload in such programs is tremendous. EMBA students at Smith School of Business at Queen’s University, for example, can expect to put in about 25 hours a week on top of their work and family obligations, according to Elspeth Murray, the school’s associate dean of MBA and master programs. If those external demands aren’t enough, many place intense pressure on themselves to excel or outdo their classmates. “These are students coming from a variety of fields who are usually top in their class,” adds Michael Maier, associate dean of master programs at the University of Alberta’s business school. “They may be getting Bs when they’re used to getting all As. It’s humbling.” Although figures don’t exist for Canadian institutions, research by the Higher Education Statistics Agency in Britain shows that mental-health conditions among higher education students – which include undergraduates, postgraduates and MBAs – rose to 35,500 in 2015 from 13,060 in 2010. Dropout rates among these same learners more than tripled during the same period. In 2016, the London-based Association of MBAs found that, from among more than 2,000 member business schools from 104 countries, stress-management skills were included in 37 per cent of MBA programs because of rising mental-health challenges at the graduate level. With universities increasingly sensitive to mental health, especially as the subject gains greater awareness through initiatives like this month’s Bell Let’s Talk day on Jan. 31, several business schools across Canada are taking steps to address related challenges among its MBA and EMBA students. While all students at the...

Data error bumps Temple’s Online MBA program from No. 1 to unranked...

Just a few weeks ago U.S. News & World Report crowned Temple University’s Fox School of Business as the school with the best online MBA program in the country. The same day the news came out, a hiccup was discovered: the university had misreported the number of new entrants for 2016–17 who provided their GMAT scores. The data error, per a statement from Temple University President Richard Englert, was caught by Temple’s own team and reported to the publication shortly after the scores went live. On Wednesday, it was announced that, as a result of the error, the North Philly university’s program would be moved to an “unranked” position for the rest of the year and removed from a second, separate ranking. “U.S. News has moved Temple to the ‘Unranked’ category in the Best Online MBA Programs rankings and removed the school from the Best Online MBA Programs for Veterans rankings,” said Robert Morse and Erik Brooks, part of the data team at U.S. News & World Report. “The Fox School of Business originally reported that all 255 new entrants, or 100 percent of the class, submitted GMAT scores,” Morse and Brooks wrote. “The school later informed U.S. News the count of new entrants submitting GMAT scores was actually 50 students, or 19.6 percent.” The next move from Temple? Ordering an independent review of the data reporting process. “The integrity of our data and reporting are paramount,” said Englert in a statement. “After consultation with Provost JoAnne Epps and Fox School of Business Dean Moshe Porat, I have decided to bring in an outside independent analyst to review our data reporting processes, including what occurred in this instance.”… Read full story: Technical.ly...

When Will Asia Reach Number 1 In MBA Rankings?...

China is predicted to become the largest economy in the world before 2030, according to a report by PricewaterhouseCoopers (PwC). But what about China’s business schools – are they on track to overtake Stanford, INSEAD, Wharton, LBS and Harvard? Stanford‘s rise to the top of the FT Global MBA Ranking 2018 is sure to grab the headlines. With GSB graduates reporting eye-popping salary figures– the first time a business school has reported average alumnus salary over $200k three years after graduation – this result was to be expected. The FT rewards weighted salary (20%) and salary increase (20%) more than any other MBA ranking, and combined with Stanford’s strong showing for research (a further 10%) the school has reached the #1 position for only the second time since the FT launched the ranking in 1999. After two invaluable years at #1, INSEAD should not be too disappointed with second place. At Fortuna Admissions we have seen a sharp rise in enquiries over the past 24 months with the global recognition the FT results has boosted. The school also benefits from an excellent ROI for the increasingly popular one-year course format preferred by the majority of European and Asian business schools. And the much-reported Trump effect continues to encourage a significant number of business school applicants to look beyond the US for their MBA experience. But this result is part of a wider trend that emerged in the MBA ranking published by The Economist last November, which sees US schools in the ascendancy with the strengthening US dollar of the past three years. Harvard Business School is the only M7 school to have lost ground in the FT ranking, in part because of lower faculty research output that the FT...

The Top 10 Most Affordable MBA Programs In The United States...

Funding an MBA is expensive and a big cause for concern. GMAC’s 2017 Prospective Students Report revealed 52% of prospective MBA students are worried about not being able to afford the cost of an MBA, and 47% are troubled by large student loans. With the opportunities generated by an MBA, return on investment (ROI) is often used as a justification for the high price of the degree. Still, for some, the initial price-tag acts as a barrier to higher business education. There are however, many initiatives which help ease the financial pressures. These range from a variety of scholarships offered by different business schools to novel, pay-as-you-study initiatives like that offered by Edinburgh Business School, the Graduate School of Business of Heriot-Watt University in the UK. For those studying abroad, organizations like Prodigy Finance—a borderless, peer-to-peer lending platform—provide international, post-graduate loans. Student Loan Hero looked at 116 of the top American business schools to identify which programs are most financially affordable, taking into account the average debt of graduates, average starting salaries, and annual tuition fees. Big-name institutions like UC Davis (ranked 48th for affordability) and Temple University’s Fox School Of Business (ranked 27th) feature in the top 50. Here’s Student Loan Hero’s top 10 most affordable MBA programs in the United States… Read full story:...

Consider a US Online MBAs as an International Student...

Through online education, international students can earn a U.S. graduate degree even while overseas. With few, if any, on-campus travel or residency expenses, online students can continue working full-time jobs in their home countries. But before deciding to enroll in a U.S. online MBA program, prospective students should consider three factors. 1. Find out if a school attracts a diverse student body. As an international student, you will have a different cultural background from many of your online MBA classmates. This diversity can be desirable for schools, since it brings fresh ideas, sparks healthy debate and helps all students learn more about business in other countries. During my own search, I looked for an almost entirely online program with faculty and students of various cultures. The school’s website or a student coordinator can tell you more about the demographics of the online MBA student body. If school administrators and professors have previous experience working with international students, they may be familiar with your specific needs and learning styles. In my online program, some professors assigned students to self-reflect on their cultural identities and differences – what they believe regarding how the learning process should work and how different cultural backgrounds affected the way students interacted in- and outside the classroom. At a minimum, I received a much better understanding of differences between my home country and U.S. business culture. 2. Research a program’s ties and opportunities with overseas universities. If you plan to conduct business in countries other than the U.S., you may want to learn more about various markets in different countries. To gain exposure to other business practices, look for an online MBA that offers immersion classes, or courses in other countries, and has international faculty. Immersion...