MBA Trends

Consider a Second MBA Degree

The idea of pursuing a second MBA degree may sound strange, but it happens with a small number of applicants during every admissions season and can make sense under the right, very specific, circumstances. Some applicants consider a second degree after earning an MBA from a for-profit university or an unaccredited program. They may find they have hit a ceiling with their employment prospects as they vie for positions against candidates from better-known schools. More often, people who seek a second degree are international candidates who have discovered that their professional dreams cannot be fulfilled with their current degree alone. In India, for example, it’s common for a student to jump into an MBA program straight out of university, which makes for a very theoretical learning experience rather than a practical one in which to contextualize management problems. Once these MBA grads get into the workforce, they discover they must further develop various skills to become strong business leaders. For professionals working in international firms who aspire to relocate abroad, a degree earned in-country will not open doors the way a highly ranked MBA from a name-brand university will. A second MBA is seen as an efficient way to move out of a stagnant career and enhance their competitiveness, allowing the degree holder to shift into a new function, industry or geography after completing their studies. Creating a rich classroom experience through diversity is a huge focus of the top business schools, offering students the opportunity to interact with peers from an array of countries and professional backgrounds. While the educational component of the degree in South Asian business schools, for example, may sometimes rival their international counterparts, the ability to create networking ties across the globe is nowhere...

MBA programmes that yield the best salaries

One major component of Business Insider’s ranking is the average starting salary. Looking at this exclusively, you can filter out the business schools that yield the best salaries after graduation. Among the 50 leading schools, students from 22 schools went on achieving base salaries over 100,000 US-Dollar. Although Stanford placed fourth on the overall list, its graduates earn the highest starting salaries of all the schools, averaging more than 133,000 US-Dollar. Other high achievers like Harvard and Wharton fared well as well. Harvard graduates earn an average of more than 131,000 US-Dollar after school and Wharton graduates average on more than 127,000 US-Dollar, though Wharton’s tuition cost also amounts to 144,340 US-Dollar. The Wharton School topped the Business Insider ranking overall in 2015 for all-around excellence (see article above). Wharton’s salary expectation is similar to Columbia Business School’s as well as Sloan School of Management’s and the Booth School of Business’s. Graduates of Dartmouth’s Tuck School of Business follow with an average starting salary of 123,900 US-Dollar. Amongst the 22 schools are many more well-known schools like the Anderson School of Management, the Fuqua School of Business, Yale School of Management, London Business School, Darden Business School, the Booth School of Business or the Kellogg School of Management. But other not as well-known universities do well in the salary category as well. Graduates from the Foster School of Business, the Jones Graduate School of Business or the McCombs School of Business also break the ranks of the 100,000 US-Dollarfor example. Read full story: MBA...

Don’t Rush The MBA Decision: Not All Work Experience Is Created Equal...

We all know some things look good on paper but don’t always work in practice. And that sentiment should be taken into consideration when deciding if the time is right for an MBA. Just because you have the two years of experience that many of the world’s business schools require, doesn’t mean you are ready for an MBA. You should think more deeply about how to get the most out of your investment of time and money before applying to an MBA. We often see applicants rush this decision. At the Ivey Business School, we believe that a key question candidates should be asking themselves before applying to an MBA is: Does it make sense for me to get this degree right now? Here are some things to consider: 1.The admissions teams can help: The admissions team at Ivey is not in place to scrutinize or judge applicants. Instead, an important part of the team’s role is to ensure that you make the best decision possible, so you can get the most out of the program and contribute to the class community in a meaningful way. Where you are at in your own work journey before you arrive is a critical part of a successful outcome. Talk to us. We can help; 2.Quality over quantity: Be prepared to talk about the kind of work you have done. We are not interested in the length of time you have spent collecting a paycheque, but instead your ability to talk about the quality of work you have done. Tell us about the interactions you have experienced with internal or external clients and the projects you have contributed to moving forward. Bringing these kinds of experiences to formal classroom discussions is a...

The 19 best online MBA programs

An MBA can be a shortcut for ascending the career ladder and boosting your salary. While attending one of best b-schools in the world can be an attractive option — Business Insider published its list of the world’s 50 best business schools in December — for some working professionals it’s not feasible, making online programs a great alternative. U.S. News & World Report recently released their ranking of the best online MBA programs, evaluating schools based solely on data related to their distance education MBA programs in five categories: student engagement, admissions selectivity, peer reputation, faculty credentials and training, and student services and technology. (You can read a full breakdown of the methodology here.) Note that because of multiple ties, the ranking only goes through No. 15. Temple University’s online MBA program took the top spot, followed by Indiana University at Bloomington, and University of North Carolina at Chapel Hill. Read on for the rest of the 19 best online MBA programs in the country, according to U.S. News.Read full story: Business...

MBA Students’ Predictions For Business Education In 2016...

BusinessBecause spoke to several MBA students at the heart of the business school world to get their thoughts on what lies ahead. Power To The Pupil Ragen Haythorpe is a part-time student on the flexible MBA program at UWA Business School. She believes that with competition for applicants high, business schools will become more responsive to the needs of their students. “We will see greater flexibility for students to create their own unique education experience,” she says. “Enhanced collaboration between educational institutions, moving towards borderless education….is the way of the future.” MBA students want to choose what they learn, how and where they learn it. “New age companies like Google, Apple, Uber and Airbnb have shown how effective a bottom-up consumer oriented approach can be,” says Arijit Gupta, a first year student at the George Washington University School of Business. “I hope that the education industry picks up this mantra and starts offering courses which are customizable based on the students’ interests.” Online Revolution For Aaron Hoyles, a student at EMLYON Business School in France, more flexibility over how MBA programs are designed will invariably mean more content delivered online. “We’ll increasingly see online content blended with the classroom experience,” he says. “The most successful models will combine richly produced, self-paced digital content with collaborative teamwork that is practical and emphasizes integrative thinking and experiential learning.” Harish Sivashanmugam, a first year student at CUHK Business School, agrees. “Theoretical teaching will be pushed online and [the] classroom will become an incubation center,” he says. Harish also forecasts that more people will work in the technology sector and in start-ups, forcing a change in MBA course content. “Business education will cease to exist as an offshoot of finance,” he says. He...

For MBAs, it pays to be well-rounded

Specialization has become the new mantra at business schools, with students pursuing increasingly narrow tracks of study in hopes of gaining an advantage in the job market. New research suggests that some highly specialized students may not be getting the advantage they’re hoping for. Jennifer Merluzzi, an assistant professor of management at the A. B. Freeman School of Business at Tulane University, says graduates of elite MBA programs who specialize receive lower starting-bonus compensation and are less likely to receive multiple job offers than graduates with more diverse resumes. “People think that if they can demonstrate an expertise in something, it’s going to be rewarded, but we actually found the opposite,” Merluzzi says. “The people who were more focused were actually being penalized.” Merluzzi and co-author Damon Phillips, professor of management at Columbia University, tracked two cohorts of recent graduates from a top-ranked MBA program. All graduates tended to earn similar base compensation for similar jobs, but the graduates who opted to specialize in terms of academic concentration, extracurriculars and summer internships received smaller bonuses and were less likely to receive multiple job offers than their less-focused peers. While the paper focused exclusively on investment banking, they found evidence of the specialist disadvantage in marketing and corporate finance as well. “It’s just basic supply and demand,” Merluzzi says. “If there’s a market where specialization is rare, it’s going to be more valued. But with the market for top MBA graduates, where the focus is on creating really specialized resumes, specialization becomes commodified, and the person who shows accomplishment across a lot of areas then becomes more unusual and more valuable to hiring firms who deem these candidates as offering more.” The paper, “The Specialist Discount: Negative Returns for MBAs...

How Jack Welch Is Reinventing the MBA

The former GE CEO’s online MBA program has a laser-like focus on customer service. When legendary General Electric CEO Jack Welch hired a headhunter to search for new deans of curriculum and faculty for his online management institute, he had an unusual requirement. “Jack didn’t like pie-in-the-sky academic types,” says Michael Kirkman, a search consultant with Lochlin Partners. Despite that limitation, Kirkman had little trouble rounding up an impressive portfolio of higher ed candidates. “Everybody was very interested, particularly with Jack’s name attached to it,” Kirkman says. “A lot of them are just tired of the bureaucracy and garbage that goes on in traditional academic environments.” Welch ultimately hired Craig Clawson, former managing director of Duke Corporate Education, as dean of curriculum, and Mike Zeliff, a faculty member at George Washington University and a former marketing director for the U.S. Marine Corps, as the dean of faculty. Both hires go a long way in telegraphing the fact that the four-year-old Jack Welch Management Institute is one of the very few business schools that is run like a business, with a laser-like focus on customer service. The school is closely managed on student surveys that measure the impact of the education as well as the likelihood that a student would recommend the institute to a friend or colleague. At JWMI, every administrator and faculty member understands that students are customers. In fact, the incentive pay of the core leadership team—up to 25% of their annual base salaries—is based on satisfying those customers. Net Promoter Scores (NPS), the metric Welch is using to monitor student satisfaction, are widely discussed among the leadership team, even down to the scores on the 12 courses that make up the MBA curriculum. “We’re running this...

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...

Five MBA Trends for 2015

Ever since its inception in the late 19th century, the Masters in Business Administration is the one academic postgraduate qualification that has never stood still. The constantly evolving requirements of employers, the changing demands of students, and the revolutionary changes caused by waves of new technologies have been met by a willingness by the best business schools to change the what, the how, and (increasingly) the where they teach. Alternative funding sources for MBA studies The AMBA 2012 Salary Survey showed that 29 per cent of respondents received some form ofcorporate sponsorship towards their studies; by 2014 the same survey showed a drop to 21 per cent. New funding sources, such as crowd funding and peer-to-peer lending have evolved over the last couple of years, and are likely to increase in popularity – and are certainly going to become a trend in 2015. Crowd funding is where prospective students borrow capital from those interested in supporting MBA studies as an investment. Several are available, such as Prodigy Finance and SoFi. Prodigy now provides loans to MBA students at 18 AMBA-accredited schools, with more in the pipeline. Investors, primarily alumni of these schools, invest in one class of students. Rather than focusing on credit history, Prodigy uses a predictive model that calculates borrowers’ potential future income. Peer-to-peer lender SoFi (Social Finance) only offer tuition loans to employed graduates – so whilst not ideal for all, they are ideal for anyone who wishes to study for an EMBA on a part-time basis. Wider range of specialisations Highly popular about 10 years ago, MBA specialisations are making a comeback. However, those now being offered have changed. Previously, most were still related to established MBA topics – Finance, Marketing, Strategy and Technology –...

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:...

It’s cheaper and easier to rent an MBA than to hire one...

The on-demand economy, where people work when they want and get paid by the task, has redefined the roles of taxi drivers and created new jobs such as professional grocery store shoppers who are paid by the hour to run other people’s errands. Less well known is how the 1099 economy (named for the US tax forms filed by independent contractors), is now bleeding into the upper echelon of the workforce: The nation’s top business school graduates. For many of these people—unlike the “struggling workers” of Uber or the homeless house cleaners at Homejoy who critics say are getting a raw deal—the decision to leave big companies is more often than not, a choice. And their migration has big consequences for the future of employment. HourlyNerd, a two-year-old startup that lets companies rent an MBA, is bankrolled by the likes of Mark Cuban and Greylock Partners, and this week it secured its third round of financing, bringing the total raised to $12.55 million. One of its newest funders: General Electric’s venture arm. Perhaps the most institutionally corporate of all global companies is now backing a network of 10,000 graduates from top-40 US business schools. The rise of these “nerds,” who don’t commute to an office but earn $100 to $150 an hour from companies such as Microsoft and American Apparel, tells an important story about where the labor market and the economy are headed. For one, companies can now bypass costs associated with hiring full-time employees or paying the overhead of big consulting firms, says John Shegerian, president of the recycling giant Electronic Recyclers, which used HourlyNerd to find a Harvard MBA to write a business plan for a new project. “You get access to really smart people without...

Dartmouth’s New B-School Dean: It’s Time to Disrupt the MBA...

For the first time in 20 years, the Tuck School of Business at Dartmouth has a new dean. Matthew Slaughter, Tuck’s associate dean for faculty, will take on the elite school’s top job on July 1. After a tenure spanning two decades, Dean Paul Danos will be stepping down at the end of this academic year, a move announced last March. Slaughter, 45, wants to shake up the traditional M.B.A. model, because students want flexible alternatives to two-year, full-time programs, he said in an interview. Among his aims: building a digital platform for Tuck courses akin to the University of Pennsylvania’s Wharton School offerings on Coursera or Harvard Business School’s HBX digital platform, which offers online access to course materials. “We imagine a future where we might have a broader way that students access the Tuck M.B.A. degree,” he said. Slaughter also plans to expand Tuck’s non-M.B.A. offerings—which currently comprise an executive master of business administration program, a non-degree “bridge” program for incoming M.B.A. students, a Master of Health Care Delivery Science offered jointly with the Dartmouth Institute for Health Policy and Clinical Practice, and select undergraduate courses at Dartmouth and Bowdoin College in Brunswick, Maine—and may add shorter masters programs geared toward younger graduate students. Slaughter said it is also high time to attract more women to the Hanover, N.H., campus; women make up just under a third of Tuck’s current enrollment. He pointed to a new partnership program with the all-women’s Smith College in Northampton, Mass., set to debut this spring, which is aimed at preparing graduating students there for entrance into M.B.A. programs, as a step in the right direction. And he said plans to have more conversations with Tuck alumnae and participants of the student-run...