About the MBA

If you are reading this, chances are thinking about getting an MBA. Congratulations, this may be one of the most important decisions in you career. You will join thousands of people from all over the world in pursuing one of the most prestigious and sought after graduate degrees.Before you begin the process, make sure you know what an MBA is about. This section will help.

13 MBAs that are really worth your money

Sure, you want to get an M.B.A. to make a higher salary and you may even be willing to plunk down the small fortune that the top programs are charging these days. But, still, you’ll want to make sure such an investment will pay off. So it’s worth checking out this list of M.B.A.s in the U.S. ranked by return-on-investment, calculated using total tuition cost and average graduate salary. The big names are all over this list, which probably comes as much-needed solace for grads who have dropped over $100,000 for their degrees. But there are also a few schools that may not have caught your attention before and come in under $55,000. We’ve included the school’s U.S. News & World Report ranking as a point of comparison. Three of the top 13 schools significantly outperform their overall U.S. News ranking when it comes to ROI. Many of the bigger names have a slightly lower ranking when it comes to ROI than overall, but when it comes to the top of the top, it looks like grads are getting exactly what they’re paying for… Read full story:...

It’s time to reinvent the MBA

Are MBA programs still viable? Are their graduates still valued by employers? Despite these questions, demand for MBA programs is growing: 84 per cent of companies worldwide plan to add new MBAs to their work force in 2015 – up from 74 per cent in 2014 and 62 per cent five years ago, according to a global survey of employers published by the U.S.-based Graduate Management Admission Council. The MBA is hardly dying, and certainly far from dead. But it needs an overhaul. When MBA programs originated in the United States in the early 20th century, the country had industrialized and companies wanted more scientific approaches to management. Today, most MBA programs – about 10,000 and growing – still use pedagogical approaches designed to legitimize management as a science, lecturing in classrooms and teaching cases on topics derived from disciplinary silos. This is true of even the most established and prestigious MBA programs. The boom of new programs around the world, and increasing competition for the brightest students, ought to spur innovation in curricula. The complex challenges confronting contemporary society, such as addressing climate change, reducing inequality and ensuring the sustainability of health systems, demand it. As leaders of organizations who today employ MBAs around the world, and MBA graduates ourselves, we have insights into what this innovation should look like to ensure MBA programs fulfill their responsibility to prepare leaders able to meet these challenges and have positive impacts on their organizations, communities and society more broadly. At a recent conference celebrating 50 years of the MBA at McGill University’s Desautels Faculty of Management in Montreal, we listened to and learned from more than 200 successful MBA alumni, professors and students from around the world in order to...

Oxford Business Dean: MBA Programs Should Be More Than Driving Schools...

To some degree, MBA programs are advanced driving schools. We teach students how to operate one of the most powerful engines in the world: business. We teach how this engine must be finely engineered (operations), how it needs special fuel (finance), and how the parts need to work together (organization and leadership). We teach how to monitor the gauges carefully (accounting), how to steer our vehicles at high speeds and through rough weather (strategy). Extending the metaphor, we have, in recent years, updated our curricula with modules on “Why do we drive?”—an existential question answered by legal principles such as fiduciary duties, philosophy, social norms, and even faith-based traditions like Catholic social theory. Why drives the recognition that businesses have responsibilities not only to shareholders but also to customers, employees, the communities in which they operate, and future generations. This discussion is healthy and overdue. To torture the metaphor just a bit more, we’re missing one step: Exactly where should our graduates head? Business schools have been largely agnostic on this question. Our failure to address where has subverted the evaluation of business schools and the content of our programs. Salary and salary growth, to a large degree, are key factors determining where MBA programs find themselves on various rankings by publications. Implicitly, this approach dictates where: Send your graduates to the highest-paying jobs… Read full story:...

Where to go to business school if you want the highest salary...

There’s more to choosing a business school than its name. Unless your primary goal is to make as much money as possible. Unlike undergraduate programs, where the schools producing the highest earners are often relatively unknown, the graduate schools with the highest-earning MBA grads are usually the ones with the biggest name recognition. When ranked by median mid-career pay, the top schools are Stanford, Harvard Business School, the University of Pennsylvania and the University of California- Berkeley, according to a report released Wednesday by PayScale.com. When schools are ranked instead by early career pay, the order changes a bit but the same schools dominate the top of the list. Two schools — the University of Chicago and the University of Texas at Austin — crack the top 10, displacing Harvard and Columbia, which have higher earnings for mid-career graduates. The strong correlation between brand recognition and pay doesn’t hold true for all graduate programs, says Katie Bardaro, director of analytics for Payscale.com. For most students, the degree and job earned will have a bigger effect on earnings than the school attended. (Consider, a public school teacher who graduated from Harvard likely won’t make much more than one who graduated from a public university.) For instance, fewer colleges and universities will offer certain technical or scientific degrees. And often, lesser known state or public schools may end up being among the best known within a particular industry, such as engineering or physics, if they have large research grants that allow for more ambitious projects, Bardaro says. MBA programs are much more commonly found on campuses across the country, she says, “so one of the things that makes people stand out is if they got their degree from this top tier...

10 Most Valuable Things You’ll Learn in Business School...

The following answers are provided by the Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses. Strategic Differentiation is Key I read the book “Blue Ocean Strategy” in my capstone class and have kept it with me ever since. The long and short of it is that most of the things you read in B-school are true, but not what makes you great. Finding a differentiated strategy, one or two key things that set youapart, is what really makes or breaks a company and keeps you out of price wars. – Jerry Nevins, Snow & Co Connections are Worth Gold The people you meet in business school far outweigh whatever you’ll learn while attending. While attending Stanford, I learned to connect and work with other like-minded individuals. Help people as much as possible and it’ll always come back. It’s not about what you know, it’s about who you know. – John Rampton, Host Operational Management Is Fundamental At the time I didn’t realize how important it was, but queuing systems and process management are a fundamental part of every company — not just manufacturing companies. Bottlenecks are everywhere, especially in technology companies and startups. As a founder or CEO, it is your job to fully understand the process your company has created, find the blockages and remove them. -Joseph DiTomaso, AllTheRooms You Need Teamwork Business school classes have a lot of group projects, presentations and case studies, so one valuable skill students pick up throughout the coursework is how to work well with others. Teamwork and collaboration is a critical proficiency...

When should you do your MBA?

An MBA increases your value as an employee, as well as your chances of climbing the corporate ladder to become a CEO. That being said, it’s important to do research and thoroughly prepare so as to ensure you’re ready before committing to this intensive programme Nicola Kleyn, Deputy Dean for the Gordon Institute of Business Science (Gibs) MBA programme, doesn’t mince words when it comes to the preparation required of students aspiring to this sought-after degree. Studying for an MBA is an intensive process that requires significant commitment. Our students report that the pressure enables them to learn to manage their scarcest resource – time. An MBA requires energy and resilience to maintain momentum and stay on course. The high number of students who successfully balance the multiple demands of family, career and studying is testimony to the fact that it’s manageable,” she says. Tabby Tsengiwe, Head of Corporate Communications at British American Tobacco and mother of three boys, signed up for an MBA in 1999. Taking time out of her career to study full-time wasn’t an option; besides, her employer was funding her course. Accordingly, she looked for a part-time programme that would allow her to juggle her career and studies.“I felt the time was right to embark on this gruelling course before getting married and starting a family. Support was also very important and mine came from the team I led and my manager at M-Net, where I was a marketing manager. Most importantly, I was undertaking this journey with a good friend and flatmate. We were both ready to invest in our futures,” recalls Tsengiwe. After researching the diverse MBAs offered in SA, she settled for the one presented by Australia’s Bond University at its Johannesburg...

Two-year MBAs still the gold standard

Full-time, two-year MBA programs worldwide edged out their one-year counterparts in terms of growth, according to new application trends for 2014 analyzed by the Graduate Management Admission Council. For the second year in a row, 65 per cent of two-year MBA programs reported increased or stable application volumes compared to flat or declining demand for one-year and specialized graduate offerings. Among one-year programs, 60 per cent reported a decrease in application volumes from last year, according to the council that administers the widely-used entrance exam for graduate business programs. For some students, a two-year MBA has an advantage over shorter-duration programs despite a higher price, says Michelle Sparkman Renz, director of research communication for GMAC. “It might offer additional time with classmates for networking, internships, activities for case competitions or even exchange or study abroad.” According to the survey, students in a majority of programs still expect employer reimbursement of degrees. Based on a record response from 748 programs at 314 universities, the survey highlights the diversification of offerings globally and the growing presence of foreign candidates. International students accounted for 52 per cent of applicants to 135 full-time, two-year MBA programs worldwide in 2014, up from 48 per cent to 115 programs 2009. In 2009, foreign students accounted for 60 per cent of 25 master of finance programs offered in 2009. But by 2014, among 38 programs reporting to GMAC, they represented 82 per cent of applicants worldwide. “It speaks to the internationalization and the international curriculum that an MBA or specialized business master can grant someone,” Ms. Sparkman Renz says. One Canada-specific finding is its 10th spot placement among top destinations for recruiters, according to the survey. China, India and the United States top the list, but...

It’s Harder Than Ever for MBA Candidates to Succeed...

It’s the dream of every MBA candidate who registers to a prestigious MBA school. A coveted position in investment banking or consulting, with a salary only heard of in the movies. While this reality does occur for a small percentage of MBA candidates, the reality is far different since the overall economic and MBA dynamics have changed. These changes include: (1) Accreditation Creep: Merely having a degree is no longer sufficient enough to climb the economic ladder. With an increasingly global workforce and the changing nature of work, today’s employees need to be more educated, adaptable and competitive. (2) Growing Number of MBA Programs: With the success of the first MBA programs starting in the early 20th century, there has been the inevitable global growth of them. Today, nearly every post-secondary institution has a MBA program due to increased tuition revenues and gaining greater prestige. (3) Growing MBA Supply: With the growth in the number of MBA programs, there has also been a corresponding growth in MBA graduates. This has led to a corresponding imbalance between the demand for MBA jobs and the number of MBA graduates. It is not only the economics of the MBA that have changed but also the economics of business. These changes include: (1) Growing Supply: As a result of the latest recession, there has been a growing supply of qualified candidates competing against freshly minted MBA graduates. Given the choice between a seasoned business candidate with practical work experience versus a newly graduated MBA candidate, businesses are more likely to prefer the seasoned business candidate. (2) International Competition: As the economy continues to globalize, so does its labor force. With a growing number of international subsidiaries, corporations are finding that qualified MBA graduates...

Things you need to know if doing an MBA

If you’re thinking of going back to school and getting an MBA, it’s first critical to determine whether your expectations for an advanced business degree are aligned with the advantages that it could provide. Here are a few things to consider. MBA programmes offer three different types of benefits, all of which vary tremendously from one school to another: 1. Practical leadership and management skills. Management education has changed significantly over the last few decades. Previously it focused on quantitative analysis in areas such as finance and operations, with little emphasis on other aspects of organisational life. As a result, MBAs were often seen as bean counters. So MBA programmes responded by expanding their offerings in areas such as strategy, organisational behaviour and leadership. 2. A credential that sends a signal to the marketplace. The nature of the signal being sent depends on the specific MBA program’s reputation, and this is not simply a matter of prestige. Harvard, Stanford and Wharton routinely top lists of US business schools, but they also have a reputation for entitlement and arrogance. While some firms seek out graduates from elite schools, others avoid them out of a concern that they will be difficult to work with and disruptive to the established culture. 3. Membership in a learning community and access to an alumni network. Business school emphasises working in groups, and MBA students often learn as much from their peers as they do from lecturers, so it’s important to consider who you’ll be working alongside for two years.Lea la noticia completa en Irish...

How you’ll earn an MBA degree in the future...

In a quarter of a century, most business students will never enter a classroom. The faculty lectures, the MBA student discussions and the homework assignments will occur instead over the Internet, where each part of the educational experience can be played as many times as it takes to fully absorb or satisfy, as if it were a Seinfeld rerun. The world’s most famous professors will more likely be compelling teachers—rather than journal-published researchers—and many of them will be free agents, unattached to a single university. Technology will allow for free-agent faculty, able to teach directly to students, with the university being what it will increasingly be viewed as: just another middleman taking a profit. Professors won’t need an affiliation with a university, because technology will allow them to create their own brands. The costs of academic learning will plummet. And much of education will be modular in nature. Students will pick and choose from the best professors and the best colleges and universities worldwide to construct a degree of choice. There will be little need to go to one school for several years and sit in classrooms with other students. The greatest asset universities now hold—the ability to grant a degree—will have so greatly diminished in value that it will become little more than a quant notion for the...

The value of an MBA: Chicago entrepreneurs weigh in...

you ask yourself: Is an MBA worth it? To answer that question, you must ask yourself what kind of work you plan to do or continue doing. Do you plan to work in banking, consulting, marketing, finance or insurance? MBA new hires in 2014 are expected to earn a $45,000 salary premium over new bachelor’s degree recipients in the U.S., according to the 2014 corporate recruiters survey conducted by the Graduate Management Admission Council. The anticipated median starting salary for Class of 2014 MBA new hires stood at $95,000 in the U.S., the survey showed. “With every level of education, people increase their lifetime earnings and increase their career stability,” said John Challenger, CEO of Chicago-based outplacement firm Challenger, Gray & Christmas. “It’s easier to move positions, and (MBA holders) tend to see fewer periods of long-term unemployment. MBAs, in particular, come away with skills and a stamp of approval and credentials that businesses and employers value.” But what if you plan to start your own business? In either case, you must be willing to pay handsomely. Tuition at many programs costs about $40,000 per year — and much more at elite programs. “It’s never been proven to me that having an MBA leads directly to success in a startup,” Jill Salzman, founder of The Founding Moms, wrote in an email response to questions to leaders of Chicago’s startup community. “Success’ greatest predictors are in the personality, temperament and patience of the people who are running it.” Here is a look at how Chicago-based entrepreneurs have done with and without an MBA. Joseph Sheahan, co-founder and CEO of Savvo Digital Sommelier Solutions, which matches shoppers with wine at the point of purchase. Sheahan earned an MBA in 2012 from...

Should You Get an MBA?

At least once a month an ambitious and hard-working person in their 20s asks me, “Should I get an MBA?” I earned my MBA from Stanford’s Graduate School of Business in 2000, and since 2007 I’ve been an Instructor and an internal coach back at the GSB, helping hundreds of students develop their leadership and interpersonal skills. Here’s how I respond to those inquiries. First, it’s critical to determine whether your expectations for an MBA are aligned with what the degree will likely do for you. MBA programs offer three different types of benefits, all of which vary tremendously from one school to another. 1. Practical leadership and management skills. Management education has changed significantly over the last few decades. Previously it focused on quantitative analysis in areas such as finance and operations, with little emphasis on other aspects of organizational life. As a result MBAs were often seen as bean-counters myopically focused on data and out of touch with the challenges managers face in the real world. MBA programs responded by expanding their offerings in areas such as strategy, organizational behavior and leadership. B-school curricula are still intensely quantitative, but as Stanford Dean Garth Saloner told McKinsey, “The [quantitative] skills of finance and supply chain management and accounting and so on, I think those have become more standardized in management education, have become kind of what you think of as a hygiene factor: Everybody ought to know this.” Business schools have realized that it’s not sufficient to provide quantitative and analytical training, because within a few years of leaving school (or even immediately upon graduation) their alumni will add value more through their ability to lead and manage others than through their talents as individual contributors. And effectiveness...