Articles from Business Because

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:...

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:...

The Best MBA Programs In The US – And How To Find The Right Fit...

In November, Bloomberg Businessweek ranked Harvard Business School’s MBA program the best in the United States for the third consecutive year. Wharton and MIT Sloan took the second and third spots respectively, with Chicago Booth and Stanford making up the top five. The same names are filling out the top tiers of MBA rankings tables year after year—nine out of Bloomberg’s 10 best graduate business schools of 2017 featured in 2016’s top 10. But there are hundreds of MBA programs in the US, and thousands of MBA candidates are taking the GMAT® exam and the GRE® General Test to apply to business schools each year. How can you make the most out of the MBA rankings? Delve a little deeper First, be assured that the top-10-ranked business schools (listed below) are not the be-all and end-all. Bloomberg’s b-school ranking is based on surveys of recruiters, students, and alumni, as well as data on post-MBA job placement and starting salaries. These are all weighted in different ways—from the employer survey contributing 35% of the school’s overall score, to salary and job placement data, both at 10%. When considering the top-ranked MBA programs, it’s important to look deeper into the rankings—into the methodologies and the data beneath—to find the right fit. Based on Bloomberg’s research, the top three most popular US MBA programs among students are found outside the top 10—at UCLA Anderson, William & Mary’s Mason School of Business, and Johnson at Cornell. But, at the same time, the Virginia-based Mason School of Business ranks outside Bloomberg’s top-50 for its reputation amongst employers, its job placement rate, and post-MBA salaries. Similarly, the University of Washington’s Foster School of Business ranked number one for its job placement rate and 24th for...

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...