Articles from Business Because

Brexit Could Cost MBA Jobs And Business School Applications...

UK’s business schools have been left reeling from the nation’s exit from the EU, with applications, jobs prospects and research funding now potentially at risk. Brexit threatens to harm the UK’s standing as a hub for elite universities, and Friday’s referendum result has placed the nation’s entire higher education sector into a period of uncertainty. Andrew Likierman, dean of London Business School, says: “Speaking personally, I am concerned at the implications of the result for the UK.” The UK is home to 14 of Europe’s top-ranked business schools by the FT. UK schools rely on their global standing to attract talent. But there are growing fears that the UK’s anti-EU sentiment will affect universities’ ability to recruit applicants. The proportion of British students in UK MBA programs has fallen from 58% in 2007-2008 to just 49% today, according to the Higher Education Statistics Agency. Brexit could not only turn potential students sour on the UK’s schools, but could also make it more difficult for schools to recruit faculty. For instance, 60% of Oxford University’s Saïd Business School professors are from outside the UK. Saïd did not respond to a request for comment. Ian Looker, education lead partner at PwC, says: “Not only is the research funding provided by the EU now at threat, but also the potential tighter controls over EU staff and students coming to the UK could well present UK universities as less attractive options to work and study.” LBS’ Andrew says: “For higher education as a whole, and London Business School in particular, this should not give the signal that the UK has turned inwards. We are a global school and I believe that the UK will remain an outstandingly attractive place to study.” Brexit could...

Harvard and Stanford MBAs Are Using This Brazilian Network To Land Jobs In Latin America...

Deep in the Latin America’s biggest economy, a network of MBAs from some of the US’s top schools is stirring. Founded by Patricia Volpi over a decade ago, the exclusive MBA Alumni Brasil community has grown to nearly 2,200 members, from 50 business schools including Harvard Business School and Stanford GSB. “The group has really taken off,” says the Indiana, Kelley School graduate. MBAAB helps graduates network and find MBA jobs through company visits, “happy hour” drinks doos, from São Paulo, Rio de Janeiro, and Belo Horizonte to Miami, New York and London, and job postings from companies such as Bloomberg, Microsoft and Nestlé. “The exchange of job opportunities drove the group,” says Patricia, who has worked at Frost & Sullivan, Telefonica and GNext, a recruitment firm. But Brazil is mired by a political crisis and a faltering economy. Its president, Dilma Rousseff, has been suspended and its central bank forecasts GDP to contract 3.5% in 2016. “One of the challenges was finding jobs that met MBAs’ salary expectations,” Patricia says. Below, BB speaks to two members of the MBAAB network working in São Paulo. A Hub For Entrepreneurs With a large financial center, well-regarded universities, and local heroes such as Dafiti, the e-commerce business backed with $250 million of venture capital, the city has a growing start-up ecosystem. “São Paulo is the best region in Brazil for entrepreneurs,” says Ric Scheinkman. The local entrepreneur is managing director and founding partner of Harpia Capital, an advisory and investment firm. He plans to study for an MBA at University of Miami, and says the MBAAB network has introduced him to top-level executives and entrepreneurs in São Paulo. “It has some of the best and brightest of the Brazilian business community,”...

When Is The Best Time To Apply For Your MBA?

The business school application process is intense, and with good reason. Getting an MBA is a significant investment in time and money. Going into the process without giving it a lot of thought beforehand is a recipe for disaster. If you aren’t prepared for the b-school experience, you won’t be able to take full advantage of the opportunity. But when you go into it deliberately, after a lot of careful thought, getting an MBA can be a life and career-changing move. Here are five questions you need to be able to answer “yes” to, before you’re ready to apply: 1. Do you know your post-MBA goals? It’s not a good idea to go to business school in order to figure yourself out, or to get away from the working world for a bit. Most MBA programs move very fast, and if you want to take full advantage of the experience, you’ll need to have a plan. Think about where you want to be in five years. Not just in your career, but where in the world you want to be, and what you want your life to look like. Do you want to work globally, start a business of your own or move into higher management positions within your current organization? 2. Do you know how an MBA will help you accomplish those goals? Lower-tier schools and diploma mills may be happy to admit anyone who seems interested and can foot the bill, but top business schools want to know that you have given a lot of thought to the prospect of getting an MBA. They are looking for students who will take the opportunity seriously, and reflect well upon the school as alumni. When you know how an...

Here’s Why Goldman Sachs, Citi, Credit Suisse Are Snapping Up IESE B-School MBAs...

Pascal Michels likes to think of himself as a market maker. For some MBAs, technology firms have replaced banks as the employer of choice. But while investment banking is down as a career, it’s not out. “We make sure we educate MBAs about the opportunities,” says Pascal, associate director of career services at Spain’s IESE Business School. And the opportunities are seemingly plentiful. Investment bank recruitment has surged at IESE, beating all records since before the financial crisis in 2007/08. Bank of America Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and Nomura are all recruiting, Pascal says. Thirty-one job offers were made by investment banks in 2016 to IESE’s MBAs, up from 22 the year before. Of the 61 IESE MBAs who applied for jobs at investment banks, 19 received at least one offer. Some received as many as four. Elle Connor, an associate recruiter at Morgan Stanley in London, says IESE is one of the investment bank’s three elite target schools. “The MBA profile brings something a little more niche to the floor, and has a more mature approach to certain situations. That’s why we continue to grow our MBA hiring,” she says. It is a similar story at Nomura. Sam Price, a Nomura graduate recruitment associate, says: “We target IESE Business School” along with two other European-based schools. Nomura values MBAs, he says, because “they can bring in some experience. The traditional route to the associate level would be through years as an analyst. An MBA is already at the associate level”. Andrea Hayem joined Morgan Stanley in June 2015 as a summer associate. The IESE MBA believes the business school was key to her landing the job. “Career services supports you throughout...

50 Reasons Why You Should Get An MBA

To MBA or not to MBA? There’s no question! The Masters in Business Administration has been catapulting careers to unprecedented heights since Harvard Business School launched the first ever MBA program in 1908. Today, the MBA is the world’s most sought-after business management degree; the pièce de résistance for many an international b-school. Michael Bloomberg has one, Google CEO Sundar Pichai has one, Donald Trump sometimes says he has one. Heck, even Shaquille O’Neal has one. Basically, MBAs are cool. BusinessBecause (also cool) is in the business of supporting people on their MBA journey all the way from the very beginning. With this in mind, we spoke to MBA students, grads, professors, admissions staff, bloggers and entrepreneurs — and asked them all the same simple question: Why should I get an MBA? Here’s what they said: Browse by category: Click any of the links below to jump to each category Fast-Track Your Career Go Global Entrepreneurship Hard Skills, Soft Skills Networking, Parties and Social Life Me, Myself and I Fast-Track Your Career 1. Go From MBA To CEO Who runs the world? MBAs. MBAs grads hold the reigns of some of the world’s biggest firms: Apple, Google, JPMorgan and Coca-Cola included. 2. Double Your Earnings Get rich quick with a return on your investment in under four years. 3. Change Industry Want to switch from finance to fashion? An MBA is the perfect opportunity to start afresh. 4. Get Access To Top Employers Julia Sanchez, head of global alumni relations at Spain’s IE Business School, says an MBA will “open your eyes to infinite possibilities”. 5. Scholarships MBAs can be costly. Prodigy Finance lets you fund your degree with community-funded student loans. 6. Go From MBA To US President...

63 MBA Grads Raised $15bn In Venture Capital For Their $65bn ‘Unicorn’ startups...

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Elite MBA Students Are Spurning McKinsey, Bain For Freelance Consulting Sites...

An MBA job at McKinsey & Co or BCG was once the pinnacle for MBA students. But for graduates of elite schools like Harvard, Stanford or Wharton, freelance consulting is increasing alluring. As the rise of so-called unicorn companies like Uber or Airbnb — valued above a billion dollars — has spurred the “gig economy”, for a growing number of MBAs, the flexibility of short-term projects trumps the prestige of Bain & Co, et al. Harvard MBA Marta Mussacaleca worked at McKinsey and BCG before business school, but turned to HourlyNerd, a freelance consultancy site, to earn cash during the two-year degree. Some projects were more enjoyable than at established firms. “They have pushed me to become more adventurous,” she says. “Not having an evaluation committee scrutinizing your every move frees up creativity. I basically get to be my own consulting firm and am exposed to every single element in the process.”…Read full story:...

How To Stand Out In A Crowd Of Freshly-Minted Grads...

In today’s very competitive job market, graduate students, especially those with limited work experience, must develop an array of skills that will help them to stand out in a crowd of freshly minted graduates all competing for the same available jobs. I have seen a common thread — business schools are doing a fine job in preparing their graduates with solid core skills, whether in accounting, finance, marketing, or operations. Some schools make an attempt in leveraging those skills by adding management, leadership, negotiation, business ethics, and similar subjects to strengthen the available tool-sets of their students. What we often hear from employers and alumni alike is that additional skills, some call them soft-skills or complex skills, are needed to succeed in securing MBA jobs. To prepare for today’s competitive jobs market, here are five recommendations: 1) Obtaining an advanced degree is a smart career booster — it is often needed, and sometimes even required, for many roles in the business world. Companies often seek graduates with an MBA, masters in finance, or an advanced technology degree in engineering or computer science. In general, multinational companies like to recruit candidates who have a global mind-set and have experience studying and/or working abroad. For example, according to an article in the New York Times, employers in China are very interested in recruiting prospective employees who have a Chinese undergraduate degree and an MBA from a business school in the US. Understanding global economic complexity is a prerequisite to being able to interact and negotiate with international partners. 2) Previous business experience of one-to-three years — and success in that field — is often on a recruiter’s check-list. 3) A recent survey of recruiters, conducted by the National Association of Colleges...

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...

42% Of CEOs At Top Fortune 100 Firms Have MBA Degrees...

Business school may be your ticket to the boardroom. More than 40% of the chief executive officers in the top 100 Fortune companies have studied for an MBA, according to research from Heidrick & Struggles, the executive search firm. In the UK, 27% of the top chief executives opted for an MBA degree; 24% in France. The data show that studying at an elite business school could be your best bet for becoming a CEO. Around 50% of the chief executives of SBF 120 companies, the index of France’s 120 largest firms, graduated from one of four top schools: INSEAD, HEC Paris, École nationale d’administration or École Polytechnique. INSEAD, which has campuses in France, Singapore and Abu Dhabi, has several prominent CEOs. These include Tidjane Thiam at Swiss investment bank Credit Suisse; Helge Lund of oil major BG Group; and António Horta-Osório of UK lender Lloyds Banking Group. HEC Paris’ star alumni include Jean-Paul Agon, CEO of cosmetics group L’Oréal; François-Henri Pinault, the chief executive of luxury brand Kering; and Bruno Lafont, industrial champion Lafarge’s chief. In the US, 28% of the Fortune 100 chiefs graduated from seven top universities: Harvard, Stanford, Pennsylvania, Berkeley, Columbia, MIT, and Princeton. Harvard Business School has seven CEOs at top European companies alone. These include Vittorio Colao at telecoms group Vodafone, and Sir Martin Sorrell of WPP, the world’s largest advertising group. Columbia’s CEO alumni are James Gorman, at US bank Morgan Stanley, and César Alierta, at telecoms group Telefónica, among others. Stanford counts Carlos Brito, CEO of brewer Anheuser-Busch InBev, as alumni. Berkeley graduated Joseph Jimenez, the chief of pharma group Novartis, and Shantanu Narayen, head at software company Adobe. Meanwhile, 24% of the UK’s FTSE 100 CEOs graduated from either Oxford...

Google Most Popular MBA Employer Amid Migration To Tech Sector...

Google has topped the list of the most popular MBA employers in research that confirms a significant shift in business graduate job destinations to the technology industry. Tech has become a magnet for MBA students, who are energizing businesses from e-commerce group Amazon to Apple, the world’s most valuable company. “Technology companies are seen to be the place of innovation and creativity. This is really attractive to MBA candidates,” Paula Quinton-Jones, director of career services for Hult International Business School, told BusinessBecause. Google bested all other companies for the ninth consecutive year to the title of most sought after company among MBAs, with nearly 30% saying the internet search giant was among their top companies to work for. The annual list is compiled by Universum, the employer branding company founded by a graduate of Stockholm School of Economics. Google has doubled the number of business schools it recruits from. Google is already a leading recruiter at top schools including Berkeley Haas, Kellogg and Stanford. Apple, the record smashing iPhone maker, came second in Universum’s list. Apple is looking for MBAs to join its marketing, operations, sales, and internet software and services teams. In its last fiscal year, the company added nearly 9,000 non-retail jobs to its 100,000 strong workforce. At Duke Fuqua School, Apple has hired 74 students and graduates for internships and full-time roles over the past five years alone. Amazon came in at fifth and is highlighted by 12% of MBAs as a desirable employer. The e-retailer has become a symbol of the tech shift at business schools. It is a leading recruiter from most of the top-ranked MBA programs. At Michigan Ross, for example, Amazon hired more MBAs last year than any other company — including...

Banks’ Big Data Boom Brings New MBA Job Opportunity...

In the depths of a 20,000 sqm vault on the outskirts of Madrid, Spanish bank BBVA is hoarding rows of computer processors. Instead of storing bullion, Spain’s second largest lender is stockpiling data. BBVA, which between 2011 and 2013 spent an average of €850 million a year investing in technology, infrastructure and software development, is an example of the way finance institutions are beginning to bank on big data. “Banks are starting to realise the full potential of digital technologies and their potential to disrupt and transform the banking industry,” says Richard Lumb, group chief executive for financial services at Accenture, the consultancy. The big data boom in finance has started to bring new job opportunity at banks. “Demand for big data experts is strong,” says Adam Jackson, managing director at leading City of London recruiter Astbury Marsden. He says this has become an important focus as more data exchange with consumers is conducted via the cloud. But there is a skills shortage of analytics talent across the financial services industry, according to Accenture. Technology is becoming increasingly important for banks and they are battling technology groups for the best talent. All industries are scrambling to figure out ways to harness the power of data, which they are using to drive decision making. Finance is one sector that has been ahead of the curve. “I have seen both the insurance and financial services areas make the early moves,” says Michael Goul, chair for the Department of Information Systems at W. P. Carey School of Business. Dustin Pusch, director of business analytics at George Washington University’s business school, says big data is becoming particularly important for banks’ credit departments. “The use of big data is increasingly necessary for firms to...