Monday, May 15, 2017

Average GRE Scores At The Top Business Schools

The GRE cis becoming the preferred test for an increasing number of students, and an increasing number of candidates are getting into business schools by submitting GRE scores rather than — or in addition to — scores from the traditionally preferred Graduate Management Admission Test.

  • 8 schools surpass 30% in admits with GRE scores.
  • 11 schools saw a drop in GRE admits between 2015 and 2016, though of those declines, six were of just 1 percentage point. 
  • 24 schools saw increases, ranging from 1 percentage point to 24 points in a single year. 
  • 9 schools continue to have GRE admits in the single-digit percentages
  • 18 have eclipsed 20% and eight have surpassed 30%, led by Boston University’s Questrom School of Business, where a remarkable 42% of the 2016 intake were admitted with GRE scores.
Other notable schools: 
  1. Texas A&M University’s Mays Business School (39%, up from 15% in 2015)
  2. University of Illinois at Urbana-Champaign College of Business (36%)
  3. Southern Methodist University’s Cox School of Business (35%, up from 12% in 2015),
  4. Washington University’s Olin Business School (34%)
  5. Georgia’sTerry School of Business (31%). 
The previous year’s high-level mark for GRE scores was owned by Yale School of Management, with 23%.

At Duke University’s Fuqua School of Business, the percentage of admits with GRE scores tripled in the three years from 2013 to 2015, from 4% to 12%. Last year it dipped to 11%, but according to Anneli Richter, assistant dean of admissions, that may be an aberration.

Rise Of The GRE
Over the last several years, an increasing number of business school applicants have been admitted with Graduate Record Exam scores in place of Graduate Management Admission Test scores. The trend shows no signs of letting up, with a handful of schools seeing double-figure jumps between 2015 and 2016.

Percentage Of Incoming Class With GRE Scores

Percentage Of Incoming Class With GRE Scores

Rise Of The GRE

Stanford Scores Best — Again
Just as it did the previous year, Stanford GSB in 2016 edged out Yale SOM in overall average GRE score with 329 to Yale's 328, though Yale topped Stanford in Verbal scores, 165-164. In 2015, Stanford was the top school for average GRE with 328, better than Yale by 2 points.

Business Schools Dispute MBA Rankings

A number of universities are pushing back against annual business school rankings. Academics from more than 20 business schools participated in a research paper to be published this month in the journal Decision Sciences that questions the methodology and purpose of numerical ranking systems employed by several publications.

Deans and faculty from USC Marshall School of Business, UNC Kenan-Flagler Business School, and OSU Fisher College of Business are among those protesting the approaches used by media outlets to aggregate multiple factors into a single ordinal rank—and they are airing their grievances in the form of a research paper scheduled for publication in the May issue of Decision Sciences Journal.

Bloomberg Businessweek, for example, has ranked full-time MBA programs in the U.S. since 1988. The current methodology focuses on "how well the programs prepare their graduates for job success" and is comprised of five elements: employer survey (35 percent), alumni survey (30 percent), student survey (15 percent), job placement rate (10 percent), and starting salary (10 percent).

The 2016 survey, published in November, ranked Harvard the top MBA program, followed by Stanford, Duke and the University of Chicago's Booth School of Business. Northwestern University's Kellogg School of Management was ranked No. 9.

Some argue that surveys that focus on average base salary at graduation unfairly reward schools that place graduates in the financial sector. Others argue that the  best universities are the ones that provide the most value added to their students. Further, schools that do not cooperate are left out of rankings.

For more information please see the WSJ

NYU Stern Launches: Tech and Fashion & Luxury One-Year MBAs

The traditional path of MBA students toward careers in investment banking and consulting have been based on a model of internships as a hiring tool.  But in the tech and fashion and luxury, hiring is not predicated on the internship model. Reflecting this, Stern has established two new one-year MBA programs to create a different avenue to respond to the hanging nature of the job market, but also to the changing nature of the skill requirements of certain parts of the economy.

Over the summer, students in the new programs will complete a foundational business core with courses in subjects like finance, accounting, marketing, economics, and strategy. Most students in both one-year programs will sit together for the business core. In the fall, they complete a specialty core. 

For Tech MBA students, there will be a choice of three master’s level computer sciences courses such as software engineering, tech product management, and emerging technologies. 

Fashion & Luxury MBA students choose from courses like retail strategy, retail analytics, and luxury management. Electives will fill the spring semester. A fourth core of the new program will be an experiential learning component, putting students to work on real problems for real companies.

Stern Solution: A Branded Approach to Experiential Learning
Through a range of industry-specific immersions, courses, and projects, Stern’s approach has been to match students with faculty to work with companies ranging from the Union Square Hospitality Group to Jet Blue to ABC News. Student participation in these types of projects has increased by more than 130 percent in the past two years.

Once students have completed the summer semester business core, they work on two company projects, one in the fall and one in the spring. Working as part of three- to five-member teams, students help companies address a business issue over the course of each semester, meaning the experience functions similarly to traditional summer internships in two-year MBA programs. Unlike summer internships, though, students in the Stern program will receive academic credit for these experiential learning stints—not pay. Each will count as a regular three-credit course.

In addition, students in each program will participate in two, intense week-long immersions. For the Tech MBA program, the first one will take place in New York in August and the second, in Silicon Valley in January. Featuring classes in the morning and company visits in the afternoon. For the Fashion & Luxury MBA, the first immersion week will be in New York. The location of the second has not yet been finalized but will be either Paris or Milan.

Tech is already Stern's third largest area of placement, behind consulting and finance. One in every 10 Stern grads went into tech last year, up from just six percent two years earlier. That is less than many top business schools—HBS last year sent 19 percent, Stanford sent 33 percent, and Berkeley’s Haas School sent 39 percent—but it is more than uptown neighbor Columbia Business School’s seven percent. Stern hopes this new degree will only increase the school’s ability to place graduates in tech jobs. It also plays to one of Stern’s strengths. Though best known for its finance faculty, Stern has one of the largest collections of computer science and data scientists of any leading business school. The Tech MBA was preceded by the launch of a fintech MBA specialization last fall, likewise intended to leverage existing faculty strength and Silicon Alley proximity.

Where fashion and luxury is concerned, the new program also builds on the 2009-launched luxury marketing specialization for two-year MBA students. The NYU Stern Fashion Lab, a central hub for industry-related projects and networking, is now being created to serve all Stern students. The school currently sends between three and four percent of its two-year MBA grads into the industry, and the fashion and luxury page on its website is among its most often visited. 

The Fashion & Luxury MBA is the first of its kind in the United States—and, especially amid technological disruption, those in the industry have increasingly viewed adding business-savvy professionals to their creative staff as a competitive advantage.

The application form that is similar to the two-year MBA program’s. The profile of students they will be looking for is similar in many ways to the two-year program, with a few key differences. Work experience, average age, competitive GPA and GMAT scores all will be the same, but applicants to the Tech MBA must demonstrate a substantial technological background. 

If not computer science majors, applicants can be STEM majors with a decent coding background. The curriculum, developed in partnership with NYU’s Courant Institute of Mathematical Sciences, is designed to prepare students to propel their careers in product management, fintech, and tech entrepreneurship.
The application process will begin with Round 1 applications due by September 15th. A second round will likely carry a mid-November deadline, and there may or may not be a third round.

Learn more about NYU Stern’s new one-year Tech MBA and Fashion & Luxury MBA

Sunday, May 14, 2017

Babson College Helping Empower Women

Women remain underrepresented in MBA classrooms and don’t participate in the global economy to the same extent as men. Many business schools and foundations are working to address by demonstrating successful female leadership and implementing programs to empower women in business. 

Babson College and the F.W. Olin Graduate School of Business recently announced that Liberian President Ellen Johnson Sirleaf would address their undergraduate and graduate students during its commencement ceremonies. 

About President Ellen Johnson Sirleaf
Sirleaf is a Nobel Laureate and the first female president of an African country. Internationally known as Africa’s “Iron Lady,” President Sirleaf is a leader in peace, justice and democratic rule. During her term as Africa’s first democratically elected female president, she has led Liberia toward freedom and peace while implementing economic, social and political change since her election in 2006.

Sirleaf is seen as a global leader for women’s empowerment. In 2007 she was awarded the United States Presidential Medal of Freedom for her personal courage and commitment to expanding freedom and improving African lives. Just four years later, near the time of her re-election, she was also awarded the Nobel Peace Prize for her work in securing women’s rights.

Sirleaf’s journey is detailed in her memoir This Child Will Be Great, and an overview of her accomplishments can be found on the official Babson website.

Babson Women MBA Students
Babson offers a wide range of scholarships including the Women’s Leadership Scholarships and Forté Fellowships. These scholarships are key, considering that 38 percent of women cite financial issues as the key reason for not attending graduate school, compared to 20 percent of men.

In addition, Babson women have an opportunity to participate in a variety of forums, coaching workshops and conferences throughout the year. 

The Babson Center for Women’s Entrepreneurial Leadership (CWEL) offers speakers, mentorship and co-curricular learning opportunities to all members of the school’s community. There’s also the Women Innovating Now (WIN) Lab, which provides women entrepreneurs with a network designed to help launch or transform their businesses. For MBA students specifically, there’s the Babson Association of Women MBAs (BAWMBA), a student-run group that organizes networking, coaching, and personal and professional development opportunities.

How Babson Helps Empower Women Entrepreneurs
The Women Innovating Now (WIN) Lab assembled a group of top female executives and leaders to share their advice and insight with an audience of aspiring women entrepreneurs. The school's CWEL and BAWMBA resources contribute to a culture where women are encouraged to speak their minds and develop an entrepreneurial mindset within a challenging and supportive community.

For more information, see the MetroMBA article 

10 MBA Programs With Early-Career Students

At these programs, the average full-time MBA student had fewer than two years of work experience, U.S. News data show.

Most MBA students arrive at business school with several years of work experience. But some MBA programs cater to early-career students.

At the 10 business schools with the lowest average total number of years and months of work experience among full-time MBA students, early-career students make up a significant chunk of the student population, with nearly 14 months of work experience on average.

In contrast, among the 126 ranked business schools that reported work experience data to U.S. News in an annual survey, the average full-time MBA student has four years and two months of work experience.

The business school where full-time MBA students have the least work experience is the Massey Graduate School of Business at Belmont University, where the average student has no post-college work experience, U.S. News data show.

On the opposite end of the spectrum, the Isenberg School of Management at the University of Massachusetts has the highest average amount of work experience among its full-time MBA students: seven years and 10 months.

Below is a list of the 10 business schools with the lowest average amount of work experience among full-time MBA students who enrolled in fall 2016. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered.

U.S. News surveyed 471 schools for our 2016 survey of business programs. Schools self-reported myriad data regarding their academic programs and the makeup of their student body, among other areas, making U.S. News' data the most accurate and detailed collection of college facts and figures of its kind. While U.S. News uses much of this survey data to rank schools for our annual Best Business Schools rankings, the data can also be useful when examined on a smaller scale. U.S. News will now produce lists of data, separate from the overall rankings, meant to provide students and parents a means to find which schools excel, or have room to grow, in specific areas that are important to them. While the data comes from the schools themselves, these lists are not related to, and have no influence over, U.S. News' rankings of Best Colleges, Best Graduate Schools or Best Online Programs. The work experience data above are correct as of May 9, 2017.

For more information see the US News & World Report article 

Comparing an MBA with Other Management Graduate Degrees

US News and World Report has recently performed a comparison between the MBA and other similar professional business-related masters programs. A specialized management program may be a better fit than an MBA for students with precise career goals.

There's the MBA. A Master of Public Administration. A Master of Health Administration. Master's degrees in management, arts administration and project management. The choice for those who want to lead companies, nonprofits or government agencies might be overwhelming.

Graduate students interested in management should use their personal career goals to decide what type of graduate degree in management to pursue: it's really important to know how strict your career goals are. 

The versatility of an MBA degree is a very important if you don't want to get locked into a particular career track and want to move between the public and private sectors.

Two questions prospective graduate students should ask themselves to determine whether to pursue an MBA or another type of management program.

1. Where do you see yourself in the next five years? Experts say students who are uncertain about their professional goals should strongly consider an MBA degree.

2. Do you want general or specialized management training? 

A specialized management program can help students learn how to confront formidable management challenges, such as judging how well an organization is fulfilling its mission. For instance, students in Carnegie Mellon's information systems management and data analytics programs analyzed social media data and open crime records to gauge community sentiment about police in multiple cities. The project involved data mining skills that could be applied at public and private sector organizations that want to measure and improve their performance.

A specialized management degree such as a degree in project management can help a student stand out in the job market, since these less-common degrees demonstrate technical expertise.

MBA programs are everywhere, and MBA graduates quite literally are a dime a dozen. So a given job posting might generate 50 or 60 job applicants that are MBAs but it might only generate one or two that have a degree in organizational change, and therefore, those types of resumes tend to float to the top of the pile. 

For more information see the US News article. 

Financial Times Standout performances in the 2017 executive education rankings

IESE was the FT's top-ranked school and came in the top 10 of all 15 criteria except one, “growth”, for which it is ranked 35th. IESE was ranked first for the diversity of its faculty and its international clients. The school has five global campuses and two executive education centres. It also belongs to an international network of 15 schools.

Harvard: back in the top 10
Harvard Business School was in the top 10 of the custom programme ranking for the first time since 2011. It reached its lowest position of 18 in 2014 and 2015. However, it moved up to 14 last year and has now jumped nine places to fifth. The ratings from its corporate clients have improved significantly and it is now top for the quality of its teaching and the relevance in the workplace of the skills they gained.

Cass: new entrant
Cass Business School at City University in London entered the custom programme ranking for the first time in 60th place. The school performed notably better for the effectiveness of follow-up after participants return to their workplace, for which it is ranked 13th. “Our client director is outstanding and consistently goes the extra mile,” commented one of its corporate clients. It is also ranked 15th for the international reach of its customised programmes.

IMD: top school for open-enrolment programmes
It is the sixth year at the top for IMD. Despite the strong Swiss franc, students say the Lausanne school offers good value for money. “What is being delivered is worth every penny,” said a Polish manager on the High Performance Leadership course. IMD is top for the preparation and selection of its participants. Its online Global Leader Index allows students to assess their strengths and training needs.

Sloan: Quality of participants
MIT Sloan Business School is top for the quality of its participants for the first time in the open-enrolment ranking. Sloan’s students have been in the top 10 for this measure since 2005 and it achieved second place in 2016. Nearly half of its participants last year had an MBA, double the average for all ranked schools. Nearly two-thirds of students worked at partner level or higher compared with an average of 36 per cent.

Wharton: Most participants
The Wharton school at the University of Pennsylvania remains on an upward trend. It climbed three places to 14th in the open-enrolment ranking, having fallen to a low of 23rd in 2015. Wharton is unique for its number of participants, having delivered 26 online programmes in 2016 to more than 52,000 students on topics such as business analytics, digital marketing or entrepreneurship. Some 35,000 of these participants live outside the US.

IESE top in faculty diversity
Top overall in the combined ranking, IESE in Barcelona was also best for faculty diversity. A third of the school’s full-time faculty engaged in custom education are women and more than 80 per cent are from outside Europe.

IMD: highest rate of satisfaction
Students on IMD’s open-enrolment executive education courses report the highest rate of satisfaction, with 85 per cent ranking them at least nine out of 10 for the criterion.

Stanford GSB: best host
Stanford GSB ranked top in the open executive education ranking for the quality of food and accommodation. “The facilities, location and climate could not be better,” said one participant surveyed by the FT.

Queen’s University: Smith is best in revenue
Queen’s University: Smith comes second for “growth” in the custom ranking, with revenue in 2016 up by more than 40 per cent on 2015. The school had 37 corporate clients in 2016, 12 more than the year before.

Harvard Business School: skillful performance
Harvard Business School was rated best for new skills imparted to the executives of its corporate customers — a rise of 17 places compared with 2016.

ESMT joins the elite
The Berlin school, headed by Jörg Rocholl makes the top 10 of the combined ranking for the first time. The school dropped to a low of 27 in 2014 but has since moved up significantly in both open and custom rankings.

Antai: new to the table
Antai, in Shanghai, is in the combined ranking for the first time at 15, after entering the open ranking at 32. It is the third year that the school features in the customised programme ranking.

Thunderbird: female friendly
More than 70 per cent of Thunderbird’s students on open programmes are women. Its DreamBuilder programme targets women looking to set up businesses.

For more information, see the original FT article 

Friday, April 28, 2017

2 in 5 Business School Alumni in Careers They'd Never Predicted

GMAC interviewed 15,000 graduates were interviewed in the Alumni Perspectives Survey Report 2017, all of them business school graduates completing MBAs.

  • 52% had made a career switch (industry and/or function) upon graduating from business school
  • 39% of business school alumni had no idea they would find themselves in the industries they have now been recruited to.

For business school alumni who had not planned on changing their job function and/or industry, 88% of respondents said that they were happy with their role and their employer.

The sectors and jobs MBA graduates are most likely to work in
MBA graduates are most likely to be found working in products/services, technology, the nonprofit industry and consulting, according to GMAC’s report.

  • 51% of all respondents who opted for careers with nonprofits
  • 45% of those recruited into manufacturing hadn't considered these sectors before doing their management degree. Many business schools actively recruit candidates who work for nonprofit organizations, and there are even scholarships dedicated to this background.

In terms of job functions, MBA graduates are most likely to fill positions which include finance and accounting, sales and marketing, and general management.

GMAC also found that 92% of MBAs graduating between 2012 and 2016 have attained positions that are of mid-management seniority, with around a third holding senior-level roles and one in 10 holding executive or c-suite positions.

  • 92% of GMAC respondents said they had no regrets taking the MBA
  • 84% of full-time, two-year MBA graduates rating their programs as either 'outstanding' or 'excellent'. 

Friday, April 21, 2017

Top Tech MBA Schools

Foster School of Business at the University of Washington sent more than half its 2016 MBAs into tech. 

The high tech industry has become a major recruiter of elite MBA talent in recent years. Amazon hired 35 MBAs last year at INSEAD, 34 at Michigan Ross, 23 at both MIT Sloan and Northwestern Kellogg, 19 at Chicago Booth, and a 15 at Duke Fuqua. In the past five years, Amazon has hired nearly as many MBAs (49) from Columbia Business School as Morgan Stanley (51), consistently one of Columbia’s largest employers over many years (see table below).

Only five years ago, Google hired just four MBAs at Chicago Booth. Last year, Google had tripled its Booth hires to a dozen. In 2012, in fact, only one company–Google with those four hires–out of 26 major employers was a tech firm. Today, five of 26 are in tech, with two of the top six in technology. At Kellogg, LinkedIn, Facebook, Dell and Intuit made the list of major employers last year for the first time. At MIT Sloan, where Amazon, Google and Microsoft are among the top nine employers now, MBAs going into the software and Internet industries accounted for 23.9% of the class last year, up from a mere 4.7% in 2012.

It’s also a worldwide phenomenon. At Spain’s IE Business School, the tech industry for the first time become the largest employer of MBAs in 2016, overtaking consulting and finance. “We saw a dramatic upsurge in placements in the technology industry–25% compared to 16% last year–as innovations in the sector consistently generate new roles and functions,” according to IE’s 2016 employment report. In fact, many are using the MBA to transition out of other industries and going into high tech. At IE, for example, only 10% of incoming MBAs hail from technology, though 25% of outgoing MBAs land jobs in the field.

The University of California-Berkeley’s Haas School of Business sent 38.8% of its Class of 2016 the short trip down the road into tech, a percentage point increase from 2015, and Stanford University’s Graduate School of Business — smack dab in the heart of Silicon Valley — upped its tech output by 5 points, to 33% of its 2016 MBA class.

Yet neither of those schools — nor even another elite California school, UCLA’s Anderson School of Management (28.3%) — can compete with the University of Washington. Based in Seattle, the Foster School of Business is the only elite B-school to send more than half (52%) of its MBAs into the tech sector, and that’s after a 9-point jump from 2015. Foster shares a home with one of the biggest employers of MBAs in the world, Amazon. Though numbers for 2016 Foster MBAs aren’t yet available, it’s safe to say Amazon didn’t forget about the tech factory in its backyard.

Five schools pay a median base salary of $120,000; a few (three) pay $125,000; and one leads the pack with a median base salary of $130,000. The leader: Stanford. Harvard Business School and the University of Chicago Booth School of Business, both of which boast a median base pay of $125,000 and a median bonus of $30,000. Columbia is a close third with a salary mark of $120,000 and a bonus of $33,840.

The other school that can boast of a $125,000 median base salary for tech workers: Haas, which only reports a mean (not median) bonus of $25,555.

The five European schools all have double-digit employment in the tech sector for their 2016 MBAs. Leading the way is London Business School’s 21%, up a tick from 20% last year, followed by INSEAD (19%, down 2 points), HEC Paris (17%, down 2 points), IESE (16%), and IE (10%). An MBA from INSEAD yields the highest base salary, US$99,500, with a median sign-on of US$21,100. Next is LBS, which reported a mean base salary of $93,408; and IESE, at median US$74,500 (and a median bonus of US$22,202).

LBS, meanwhile, may be interested in going the extra mile to attract new students. Anticipating a possible “student brain drain” in the wake of Brexit, the UK’s referendum to leave the European Union, experts expect full-time MBA tuition at England’s top B-school to fall somewhat from the current $93,000. They also look at the school’s opening of the new Sammy Ofer Centre, which increases LBS’ classroom space by 70%, and sense a move in the offing to appeal to more U.S. students in the growing fields of tech and entrepreneurship/innovation.

Big Data and Business: An MBA vs. Master in Business Analytics

2016 was the “Year of the Data Analyst.” According to the U.S. Bureau of Labor Statistics, the job market for various data analyst positions is growing far faster than average—around 27 percent annually. In fact, 85 percent of Fortune 500 companies have either launched big data projects or are planning to do so.

Big data, which refers to the practice of analyzing extremely large data sets to reveal trends and patterns, is reshaping the business world—and it’s here to stay. Companies like Google and Amazon have dedicated significant resources to big data, and a report by PWC estimates that the big data market for financial services is expected to increase to $53.4 billion in 2017.

As for the job market for data analysts, the McKinsey Global Institute estimates that by 2018, the United States could face a shortage of 140,000 to 190,000 workers with “deep analytical skills” and 1.5 million managers and analyst with the necessary “know-how” to interpret and apply big data.

The increasing emphasis on big data in business requires more workers who are able to analyze data and communicate the results effectively. Because employers want graduates who can do this work, many business schools are rethinking their curricula and integrating data science.

The MS in Business Analytics
Ninety-eight percent of companies believe that business school grads need to know how to use data to drive decisions. As big data has become a standard of business, it has also become a desirable part of a business education.
Beyond adding a business analytics concentration or a few big data electives, some business schools are making big data part of their core offerings. For example, UCLA Anderson School of Management is the latest of several leading business schools to offer a Master of Science in Business Analytics (MSBA).
In February, Anderson launched its newest academic degree program, the MSBA. It’s a 13-month long program that prepares students for a career in big data analysis with a combination of theory and application in a number of critical areas. The curriculum delves into mathematics, statistics, programming and data management as well as specific applications of business analytics including customer analytics, operations analytics and competitive analytics.

MBA Programs and Big Data
An MS in Business Analytics is typically a one-year program. The courses are largely focused on data analysis and interpretation, translating to a fairly narrow set of job outcomes after graduation.
For prospective students who are interested in a generalist experience, many MBA programs have begun to increase the emphasis on data in their curricula. For example, Cornell University’s Johnson Graduate School of Management offers a “re-engineered” MBA for the digital tech world: the Johnson Cornell Tech MBA. The program sits at the intersection of business, information science and technology. And when listing topics covered in the program, data science is one of the first mentioned, with courses such as “Data Analytics & Modeling” and “Designing Data Products.”

The University of Chicago Booth School of Business offers an MBA concentration in Analytical Management. Courses within the concentration include “Data-Driven Marketing,” which delves into actual market behavior of consumers, and “Data Mining,” which covers topics such as graphics, cluster analysis, multidimensional scaling, discriminant analysis, logic models, regression and classification trees, neural networks and issues in data collection and management.

MBAs who graduate with a focus on data analytics have the ability to work in a wide range of industries and functions. For example, graduates can work in marketing, given their ability to use data to understand advertising and consumer behavior. Or they can work for a firm like KPMG or Deloitte, using their skills to analyze risk and incorporated uncertainty to identify profitable customers and determine optimal pricing policies.

For the original article go to

Rise of One-Year MBAs In The USA?

INSEAD's topping of the Financial Times Global MBA Rankings for the first time in 2016, showed the rising popularity and usefulness of the one-year MBA. 

Within the United States, the traditional, two-year full-time MBA program is still dominant. Five out of the Financial Times’ global top 10 are two-year MBA programs from the US – including Harvard Business School, where the MBA was first introduced over a century ago.

However, according to GMAC, applications to two-year MBA programs fell in 53% of US business schools in 2016. At the same time, 55% of one-year MBA programs reported an increase in domestic applicants.

Vishal Gaur, associate dean for MBA programs at Johnson at Cornell University is the only Ivy League school to offer a one-year MBA program. Its associate dean Vishal Gaur sees a gradual shift towards more elite schools offering one-year programs. 

Applications to the Johnson at Cornell’s two-year MBA remain stable, but applications to the one-year MBA have increased steadily, with the program upping its intake from 40 to over 70 students in a matter of years. 53% of students enrolled on Johnson at Cornell’s one-year MBA are international, compared to 33% on the two-year program – the one-year MBA is still more accepted internationally than it is in the US.

The one-year MBA program is aimed at more experienced professionals; those looking to advance their careers in the same industry rather than switch career track. The current class has an average age of 29, and an average of five years’ work experience between them.

But Shashi Matta, MBA program director at The Ohio State University’s Max M Fisher College of Business, says around 60% of the school’s MBA students get jobs out of their internships and that many employers consider a one-year program not intensive enough.

While some US business schools are still getting to grips with the one-year MBA, in Europe the shorter MBA format has brought schools significant success. According to GMAC, 74% of full-time one-year MBA programs in Europe reported growing application volumes in 2016.

Michelle Sisto, MBA program director at France’s EDHEC Business School, says she’s seen a sharp increase in MBA applicants from the US in particular. The two-year investment in the US can cost upwards of $300-to-400,000 dollars including opportunity cost. 

For more information see BusinessBecause.

Friday, April 7, 2017

INSEAD Entrepreneurship Receives €10 Million Turbo Boost from Unnamed Alum

INSEAD has received a €10 million alumni gift to create several new academic positions and PhD scholarships to bolster entrepreneurship through strengthened research, expanded teaching and the cultivation of new talent.

“INSEAD changed my life for the better,” the anonymous donor said in a statement. “I want INSEAD to continue to excel in everything it does and to support it as an independent institution which needs donations from its alumni.” An entrepreneur himself, the donor called the decision of where to direct his investment a natural one. According to the school, the mystery alumni donor has long supported INSEAD—this latest gift bringing his total contributions to the school to more than €20 million.

INSEAD has been named the No. 1 MBA program in the world both this year and last by the Financial Times. With campuses in France, Singapore and Abu Dhabi, INSEAD offers its students the opportunity to study on three different continents and underscores this global education as one of its greatest strengths. 

Its accelerated MBA program—which students complete in a mere 10 months—also carries a much lower price tag than the two-year, full-time MBA programs more prevalent in the United States and requires less time out of the workforce.

For more information, please see the INSEAD press release

Tuesday, April 4, 2017

Record 46% Of INSEAD MBAs Go Into Consulting

INSEAD is well known as one of the top feeder business schools for the global consulting industry, sending more MBAs into the field than any other B-school in the world. But in 2016 46% of the graduating class last year accepted jobs in the consulting sector, up from 43% a year earlier and nearly 13 percentage points higher than just three years ago.

The three big global players, McKinsey & Co., Boston Consulting Group, and Bain & Co. took 29.8% of the graduates who reported their career choices to INSEAD. 

McKinsey employed 125, up from 102 MBAs last year. 
BCG hired 67 grads, slightly down from 72 a year earlier.
Bain employed 48, down from 52 a year earlier. 

Only three firms, all in technology, broke up the consulting party: Amazon, Microsoft and Google, which were among the dozen top employers. 

Many of these graduates returned to their firms after picking up their MBA in the 10-month-long program. The accelerated pace of the MBA experience makes the school particularly appealing to consulting firms who sponsor their employees. The McKinsey total, for example, includes 75 new hires and 50 MBAs who returned to the firm. At BCG, 26 of the 67 hires were of former employees, while at Bain 14 of 48 total hires had previously worked for the firm.

The total median compensation package, adjusted for the percentage of graduates reporting sign-on and year-end performance bonuses, totaled $134,268, a 2.9% decline from a year earlier. 

The total pay is composed of median salary of $102,500, sign-on bonuses of $22,800, reported by 65% of the class, and performance bonuses of $22,300, received by 74% of the MBAs. 

INSEAD’s $134,268 total, just behind the University of Texas McCombs School’s $135,885, puts INSEAD behind 19 U.S. business schools. The highest paid MBA graduates last year again came off the campus of Stanford University’s Graduate School of Business and Harvard Business School. Stanford MBAs pulled down a total median pay package of $163,827, while HBS grads landed packages worth $158,080 (see What MBAs Make In Their First Year Of Work).

The pay gap is largely the result of many more INSEAD MBAs going to work in countries where pay levels are significantly lower than they are in more mature economies as well as many students who enter the program with salaries below those at many U.S. schools. Salaries across the world, even in the same industry from the same employers, can vary widely.  INSEAD revealed that graduates who took jobs in India earned median salaries of $47,360, or 3,200,000 Rupees, compared to overall median salaries for the entire class of $102,500, a sum that would include the Indian salaries.

The median starting salary for a consulting job in North America topped out at $145,000, exactly the number reported by leading U.S. schools, the median in Southern Europe was just $77,900. In Latin America, starting salaries in consulting were only $81,300, while in Asia Pacific they were $113,500, according to INSEAD. Moreover, the cost of getting an INSEAD degree are significantly lower than those who enter a more traditional two-year MBA program, resulting in one of the highest returns on investment for any MBA in the world.

INSEAD reported that 89% of its graduates had at least one job offer three months after graduation, down from 90% in 2015. That level of employment also trails many of the leading U.S. schools. At Chicago Booth and Wharton last year, more than 98% of the graduates had job offers three months after commencement, while at London Business School, 96% of the 2016 class had job offers at that point. Still, the 89% job offer rate was just a point below Stanford’s 90% job offer level last year. Given the unusually wide dispersement of INSEAD grads around the world, the 89% offer rate is impressive, or as Hastie pointed out, “a remarkable achievement given the intensive nature of our 10-month global MBA programme and the macro-economic uncertainty in some of our traditional sectors and geographies.”

While 46% of its graduates landed jobs in Europe, some 29% gained employment in Asia Pacific, 10% in Africa and the Middle East, 8% in North America, and 7% in Latin America. The school said that no single country accounted for more than 14% of the jobs its graduates landed last year.

Only 27% of the school’s MBA students came from the consulting sector, 46% of the graduates enter the field.  Among those who have joined the consulting sector, INSEAD reported that 25% of them will be based in Asia (compared to 22% in 2015), taking away geographical share from Europe (falling from 48% in 2015 to 45% in 2016), with the share of the other regions largely unchanged. This mix mirrors the growth expectations of these regions.

Average consulting salaries remained mostly flat for most regions, with the exception of Asia and the Americas. In Asia, average base salary increased by around 3% while the average base salary fell by 4.3% for the Americas. INSEAD said the fall in average salary in the Americas is mainly due to exchange rate impact and the reversal in regional mix between Latin America (65% in 2016 vs 33% in 2015) and North America (35% in 2016 vs 67% in 2015). This brought the overall average down despite the rise in average salary in the North and Latin America regions of 11% and 17% (without currency effects), respectively.

The 46% of the INSEAD class that was hired by consulting, moreover, compares with just 16% at Stanford, 25% at Harvard Business School, 27% at Wharton, and 30% at Chicago Booth. One other consequence of this is that the school’s representation in other sectors, particularly finance and technology, is much lower than many of its rival schools. Last year, only 14% of INSEAD’s MBAs went into financial services, while just 17% accepted jobs in technology. Similar to previous years, 6% of INSEAD’s graduates last year became entrepreneurs post-graduation.

The school reported that almost eight out of ten graduates used their MBA to switch industries, functions or geography. Some 48% of the class changed country, 52% switched industries, while 63% changed function. “This year, our students chose exciting roles with more than 300 different employers in 68 countries, which represents by far the most global and diverse reach of any top MBA programme,” wrote Hastie. “This is made possible thanks to strong employer relations with nearly 600 companies and an alumni network of more than 52,000 in more than 170 countries. In terms of career change, nearly 80% of the class changed one dimension of sector, function or country, with 27% of the class making simultaneous changes in all 3 dimensions.”

Financial Times 2017 Global MBA Rankings

INSEAD remained at #1 for 2017 but there were some major changes
1. Stanford GSB rose to 2nd
2. Harvard Business School fell to 4th
3. Cambridge Judge rose to 5th ahead of London Business School

Source: 2017 Financial Times Global MBA Ranking 

For the second consecutive year, the FT named INSEAD’s accelerated 10-month program the No. 1 MBA experience in the world. 

Stanford GSB replaced HBS to rank second, with Wharton in third place, and the University of Cambridge’s Judge Business School in fifth. Judge rose five places this year and 21 places in the past five years to gain its fifth-place finish, putting further distance between Judge and its top rival, Oxford’s Saïd Business School, which fell five places to a rank of 33rd, its lowest FT ranking since 2003 when it finished 35th. Only five years ago, Saïd was ranked 20th, ahead of Judge by six places.

This year the FT ranked London Business School, the only other non-U.S. MBA program to ever grace the top of its list, sixth. Columbia Business School, always a strong performed in this ranking, was seventh, with Spain’s IE Business School eighth, Chicago Booth ninth, and IESE Business School tenth.

A trio of schools in the top 25 each gained six places to finish substantially higher this year: IESE Business School in Spain rose to 10th from 16th, CEIBs in Shanghai, China, jumped to 11th from 17th, and ESADE in Spain improved to 17th from 23rd. Switzerland-based IMD lost the most ground, dropping eight places to a rank of 21st from 13th last year.

It was a tough year for U.S. business schools: Not only did INSEAD keep Stanford, Wharton and Harvard out of the top spot; only half of the top ten ranked institutions are based in the U.S., down from seven on each of the previous three annual lists. When the FT began ranking MBA programs, INSEAD finished 11th, and nine of the top ten schools were in the U.S., including first-place Harvard. This year, HBS lost two spots, sinking to fourth place.

The FT calculations on currency exchange which impact its salary data–a major factor in these rankings–were done in the fall before the more recent rise in the U.S. dollar which also hurt U.S. schools. Overall, the impact of the strengthening US dollar has yet to be felt in the FT ranking, with many European and Asian schools performing well in the top half of the table. Six of the top 11 schools are from Europe and Asia, with the other places held by the fabled M7.

Failing to win a top ten rank were a group of world class business schools that have long dominated the top of most rankings. They include: No. 11 Northwestern University’s Kellogg School of Management, MIT Sloan and UC-Berkeley’s Haas School, both tied at 13th, No. 15 Yale School of Management, No. 18 Dartmouth College’s Tuck School of Business, and No. 19 NYU’s Stern School. Eight of the U.S. schools lost ground this year, while only four U.S. MBA programs improved their position.

Still, it was not all bad. U.S. schools occupy 51 of the 100 places on the list, up from 47 last year. Some 30 of the U.S. players were up, with 19 down and two maintaining their ranks from a year ago. Many American MBA programs did especially well. Indiana’s Kelley School rose eight places to finish 47th, Ohio State’s Fisher School jumped 12 spots to rank 63rd, Brigham Young University’s Marriott School advanced 15 places to finish 65th, Washington University’s Olin School gained 12 places to rank 68th.

Kellogg Unveils New Global Hub

Northwestern’s Kellogg School of Management opened its $250 million Kellogg Global Hub, a 415,000-square-foot home for the business school.

Construction began in April 2014. The resulting building—which entailed more than a million work hours put in by more than 1,500 people and incorporates materials from 17 countries from around the globe is touted as placing collaboration as a key defining principle.

Visitors to the Global Hub enter through its soaring Collaboration Plaza, a 6,000-square-foot, three-story central space modeled on piazzas of Europe, where the Kellogg community is expected to intersect and interact both by chance and by design. 

Grand “Spanish Steps”—34-foot-wide terraced seating inspired by the beautiful “Scalina Spagna” of Rome—form the plaza’s center and connect the building’s ground, first and second floors. They were designed as a convening space both where groups can plan to meet and where passersby can be lured into serendipitous conversation with peers as they move from one part of the building to another.

The building is designed to promote constant path crossing between students and increase energy levels and buzz. 

For more details see "A New Era for Kellogg" 

Saturday, April 1, 2017

US News & World Report Top 25 Core Metrics

Here are the top 25 Schools for the 2018 US News & World Report rankings by core metrics:

For more information please go to US News & World Report 2018 U.S. News Rankings

2018 U.S. News Business School Ranking: 25~50

Here are the 2018 rankings for US News & World Report 25-50

2018 U.S. News Business School Ranking

U.S. News ranked 131 schools in total. 

Top 25 2018 rank (2017 rank in parentheses)

1) Wharton rose in the rankings because of Strong employment and pay figures—85.6 percent of graduates employed at graduation and the highest reported average salary of all schools, $155,058.

2) Booth is confirmed as a Top 3 School
Last year, Chicago Booth tied Stanford for second place—its first time ever outranking Wharton and also the first time the Chicago school had secured a top-three spot in the history of the U.S. News rankings. A climbing GMAT average (726) and high employment numbers (84.9 percent employed at graduation) have played a part in its rise.

3) Stanford was damaged at least in terms of the U.S. News list—by the fact that its graduates are confident enough that they’ll land an excellent job so they often wait until accepting the best offers. Only 62.8 percent of its MBAs were employed by graduation—as compared to 85.8 percent at Wharton, 84.9 percent at Chicago Booth and 79.3 percent at HBS. 
But Stanford's GMAT average stood at #1 at 737;  average undergraduate GPA was 3.73, with an acceptance rate of just 6 percent. HBS acceped 10.6 percent, Wharton, 19.6 percent, and Chicago Booth, 23.6 percent. 

4) Yale SOM Defends Its Position in the Top 10
This year marks the third time since 2013 that Yale School of Management (SOM) has ranked in the top 10, giving the school an increasingly legitimate claim to membership in this elite club. In this most recent ranking, the New Haven school tied for No. 9 with CBS. Last year it tied at eighth with Tuck—a five-spot jump over the previous year.

Yale has been making improvements on several fronts. In 2011, the school hired Dean Edward Snyder—the very same dean who sat at the helm of Chicago Booth during its meteoric rankings rise in the early 2000s. Yale has also been poaching high-profile faculty from other schools over the last decade, including Andrew Metrick, professor of finance, and Anjani Jain, current assistant dean, both formerly Wharton faculty.
Add to that the opening of glittery new facilities in 2014 and the school’s traditional strength and reputation as a leader in the non-profit and corporate responsibility areas—currently in vogue with millennials—and the school’s continued top-10 showing makes sense.

5) CBS is battling to maintain its top-10 claim, and its tie this year with Yale for ninth is theoretically an improvement over its 10th place finish last year. But it’s still down from the No. 8 spot it successfully defended from 2012 through 2016. Contributing factors could include the rising cost of living in New York and declining interest among applicants in the financial sector—but that’s just conjecture.

6) NYU Stern Bounces Back from 20 to 12

For more information please go to US News & World Report 2018 U.S. News Rankings

Friday, March 31, 2017

The Potential Impact of Brexit on U.K. Schools

British Prime Minister Theresa May has announced plans to invoke Article 50 of the European Union Lisbon Treaty on March 29th—triggering the start of the United Kingdom’s two-year process of exiting the bloc of nations it has been part of for four decades. Given this, it seems a good time to look at the impact of Brexit on U.K. schools. 

According to a 2017 GMAC Brexit-U.S. Survey, 45 percent of respondents claimed that Brexit would make them less likely to study in the United Kingdom. But what does that figure mean? Are U.K. schools expecting fewer applications from top international talent, or is everything well?

The Consequences of Brexit
Currently, Brexit is still clouded in uncertainty. According to Rafael Ramirez, the director of the Oxford Scenarios Programme and senior fellow in strategy at the Saïd Business School, “It is not only unclear how long the uncertainty will last, it is also not clear what its scale will be and how far the unintended consequences of Brexit could stretch—far beyond the U.K. and Europe. The IMF Chief Economist has called it a ‘spanner in the works’ that has claimed 1 percent of global growth already.”
There is one thing, however, that U.K. business schools can be certain about: Business doesn’t operate in a vacuum, and neither do business schools. “Ninety-five percent of our MBA students are here because the U.K. government has allowed them to be here,” Saïd Dean Peter Tufano told Bloomberg. “It would be a real shame if it moved in the opposite direction and made it more difficult for students to study in different countries.”
Unfortunately, that’s a valid worry, which is why administrators at Saïd compiled a “risk list” of possible fallouts in advance of the Brexit vote. “There are some implications of Brexit that would be, I think, disastrous for the U.K. and higher education more generally. Others are more benign,” said Tufano.
The concerns are wide ranging. With the outcome of the Brexit vote, the pound has grown weaker, which makes the program less financially attractive to faculty. In addition, there’s also a concern that Brexit will result in a loss of E.U. research funds and regional development funding, which has become increasingly important in recent years as the U.K. has decreased its own funding.
MBA programs in the U.K. have their benefits: The weakened pound, while disadvantageous for faculty, makes U.K. programs more affordable for students from other countries. Many U.K. schools also offer accelerated one-year programs, in contrast to the two-year programs that are more prevalent in the United States, presenting a lower opportunity cost to boot. But that appeal could lose some of its luster if high-paying finance jobs in London take a hit. In fact, a another recent Bloomberg article explained that “Britain crashing out of the European single market could cost banks and associated businesses in the U.K. almost £40 billion ($51 billion) in lost revenue, undermining a key sector of the economy.”
That’s not to say that Brexit is all bad news for MBA programs in the U.K. We spoke with David Simpson, the MBA admissions director at the London Business School, to gain a different perspective. Here’s what he had to say.
Clear Admit: Has LBS noticed a difference in MBA applications since Brexit?
David Simpson: So far this year we haven’t seen any negative reaction. In fact, we have seen increased application volumes for the MBA in every admissions round so far, and MBA applications are up by 15 percent overall.
CA: What is LBS doing to combat any negative effects from Brexit to still attract top international talent?
DS: We run incredibly global programs, recruiting students from over 70 countries who want to work all over the world post-graduation. So, to some extent, we are partly insulated against any local economic changes. The evolving nature of our MBA and other programs, and the continued success of LBS graduates in global job markets across all sectors (more than 94 percent of MBAs [employed] within three months of graduation), helps us to attract more and more top talent from around the world.
CA: In spite of Brexit, what makes the U.K. and LBS still an attractive place to study?
DS: London is an exciting, vibrant, global city, with opportunities and strengths across every sector. At London Business School we are well connected in London and have a strong presence all over the world. London’s ongoing success in tech, start-ups and across all major sectors gives our students a huge advantage.
CA: How will/has Brexit actually helped students/workers in the U.K.?
DS: Our programs have always been an excellent value for the money, with strong employment rates, high salaries and great learning opportunities such as internships. Recent changes in the exchange rate have added greater value for our international candidates (over 90 percent of our students are non-U.K. nationals).
CA: How will/has Brexit negatively affected students/workers in the U.K.?
DS: As an institution at the heart of global business, we have experienced many economic and political changes over our 50-plus-year history, whilst continuing to grow and achieve great success. There has been little effect on LBS students or graduates working in the U.K. up to this point. In fact, several large employers, for example Google and Amazon, have announced plans to expand here. The school is watching closely how the situation evolves over time and is continuing to provide top talent to recruiters across all sectors.

For more information please check the full story at

7 Common Mistakes International MBA Applicants Make

International candidates made up a significant percentage of the 2016 incoming class: 32 percent at the University of Pennsylvania's Wharton School, 35 percent at Harvard Business School and 40 percent at the Stanford Graduate School of Business.

However, sometimes cultural differences or a simple lack of awareness regarding what a strong MBA application should include can unwittingly derail even the most stellar applicants. With that in mind, international students should avoid these seven common hurdles when targeting top-ranked U.S. business schools.

1. Choosing business schools solely with rankings: While brand and cache carry a lot of weight worldwide, you need to look beyond rankings to find the programs that best serve yourr individual needs.

2. Omitting unique personal experiences in essays: In many cultures, sharing personal stories with strangers is taboo. International applicants may be strongly tempted to keep the focus solely on previous education and professional experience.

But to stand out from the masses of similarly qualified applicants, you must focus your essays on aspects other than your quantitative or technical background.

The key to a successful MBA application is showing exactly what you – and nobody else but you – can bring to the program. Don't be afraid to let your originality and true personality come through in your application materials.

3. Focusing too much on MBA message boards: It's unsettling to be so far away geographically, and the instinct is to seek out all news and information possible about your dream programs in the U.S.

But local MBA websites and message boards can be rife with rumors and inaccurate information that can steer you in the wrong direction as you consider application strategies.

Remember that no one except the admissions committee knows what's going on with interview invites, acceptance rates, waitlists or anything else of importance for prospective students.

4. Failing to correctly translate or explain GPA and undergrad transcript: This is a common yet complicated issue, since there's no universal standard to convert an international GPA to the American 4.0 system. Once you've translated your home country's GPA using an online grade conversion calculator, assess whether it accurately reflects the rigor of your undergrad institution.

Variations in course difficulty can lead to confusion – for some transcripts, a 75 percent would be equivalent to an American A-plus, and at other, more difficult programs, a percentage as low as 60 would translate to an A grade.

If you feel there is some ambiguity in this metric of your transcript, briefly explain to the admissions committee any relevant information that would clarify its understanding of your academic performance.

5. Appearing uncomfortable with a new culture and language: Feeling comfortable working across cultures is crucial in today's global business landscape. Make sure to highlight any previous study or work abroad experiences, and include examples within your application of times where you have worked with people from other cultural or language backgrounds.

The ability to communicate effectively and fluently in English is also nonnegotiable at top MBA programs. This is one reason some schools have introduced a video interview question in their applications to verify candidate's comfort with the language. Enroll in conversation courses if needed and continue to read business publications in English to bolster your vocabulary and increase fluency.

6. Failing to manage recommenders, especially nonnative English speakers: You have to convey to your recommenders the criteria for a successful letter of recommendation to a top business school. Otherwise, you're left with well-intentioned but generic platitudes that provide little insight into exactly what makes you a strong leader, team player or an asset to the program.

Determine exactly what your recommenders should highlight and guide them by providing anecdotes or themes you'd like them to mention.

If your recommenders are not native English speakers, you need to make sure the letter is well-written or, if needed, translated into English.

7. Applying in round three: Round three is difficult to pull off successfully for any applicant, but international candidates should avoid this application cycle for practical reasons. This can take anywhere from a few weeks to a few months, so applying in one of the earlier rounds reduces the stress of managing this process once you're already received an offer of admission and can apply for a student visa.

Also, the earlier you apply, the more time you have to secure and provide proof of funding, whether through work, loans, family or other means. At some schools, scholarship offers go out at the same time as admissions offers, so more award funding is generally available the earlier you apply.

Planning, planning and more planning are key to a smooth application process no matter where you are applying, but the logistics are even more critical for international students.

The Top 10 US MBA Programs Where Graduates Land The Most Jobs

US News & World Report’s latest MBA rankings have revealed the top 10 US MBA programs where graduates land the most jobs.

Temple University’s Fox School of Business tops the list. The Philadelphia-based institution reported 100% of its 2016 graduating MBA class found jobs within three months of graduation. Fox had particular success placing more than a quarter of their MBA graduates in finance and accounting jobs

Other US business schools churning out high numbers of immediately employable MBAs were the University of Washington’s Foster School of Business and the School of Business at Stevens Institute of Technology in New Jersey. Respectively, 98% and 97.2% of graduates from these schools landed a job within three months of graduation.

The US News list was based off job placement data provided by 131 ranked MBA programs. On average, 88.3% of full-time MBAs from these schools found work within that time.

The findings showed that some of the programs reporting the highest percentage of placements were not necessarily near the top of the overall US News business school rankings. The University of Pennsylvania’s Wharton School of Business came in tenth in the placement listings while topping the overall business school rankings.

Both public and private business schools comprised the top ten MBA placement percentages.

The lowest placement percentage came out of Bowling Green State University in Ohio. Only 25% of the university’s MBAs found work within three months of graduation.

UCLA Anderson to Add Business Analytics Degree This Fall

UCLA Anderson School of Management will add a Master of Science in Business Analytics (MSBA) degree program as a possible track for business graduate students. The MSBA will enable students to take advantage of the growing need for business analysts.

The 13-month business analytics degree program will offer courses that give insight into fields such as healthcare and entertainment. Students will also be required to complete a four-credit summer internship that will allow them to apply their education in a business setting. MSBA registrants will have a 3:1 student-to-faculty ratio, giving them ample access to Anderson’s renowned faculty

The curriculum will require that students gain a thorough understanding of programming and data management, as well as statistics and mathematics. Students will then take courses that allow them to practice applying data analytics principles to real-world situations.

Anderson’s MSBA track may be an attractive option for recent graduates, as it is shorter than the standard MBA program and does not require previous work experience.

Rapid advances in technology have led to an influx of data for businesses—and a subsequent demand for qualified professionals to sift through this data and use their findings to advance a company’s mission. The value of business analytics experts who can interpret the constant stream of information and help companies strategize based on the information they accrue has become of increasingly critical importance 

For more information, please read the following article

Friday, March 10, 2017

Chicago Booth Names Stanford GSB' Madhav Rajan as Next Dean

For the second time Chicago Booth has selected a Stanford GSB professor as its new dean. Madhav Rajan, who chairs the accounting department at Stanford GSB and served as senior associate dean for academic affairs from 2010 to 2016, will be Booth's next dean on July 1st. 

Sunil Kumar, served as Chicago Booth’s dean from 2011 until leaving to become provost of Johns Hopkins University in July 2016, was former senior associate dean at Stanford, where he spent 14 years.

As senior associate dean for academic affairs at Stanford GSB, Rajan led the school’s MBA program, including overseeing admissions, curriculum, the student experience and career management. While at the GSB, Rajan also launched new joint-degree programs with Stanford’s engineering school and led initiatives toward greater integration of the business school within the larger university.

Rajan holds a bachelor’s degree from the University of Madras as well as two master’s degrees and a PhD from Carnegie Mellon University. His research has focused primarily on analyzing management accounting issues through an economics lens, especially as they relate to the choice of internal control and performance systems in firms. Cost Accounting: A Managerial Emphasis, which he co-authored, is the leading cost accounting textbook used around the world. He also served as editor of the Accounting Review from 2002 to 2008.

Rajan also served as a visiting professor at Chicago Booth in 2007-8. 

Chicago Booth's ranking and reputation has been steadily rising over the past decade,  threatening Wharton’s previously undisputed place alongside Stanford and Harvard Business School (HBS) as the best business schools in the world. The Economist has ranked Chicago Booth the number one business school for five years running, from 2012 to 2016. And in last year’s U.S. News & World Report ranking, Booth tied with Stanford for second, behind HBS and ahead of Wharton.