Last month, I gave several presentations to business schools in the US about the Financial Times’s global MBA rankings and what they reveal about the US market. Of course, these data are not new – they are published each year and my colleague Michael Jacobs has written about it on several occasions.
But what surprised me was the reaction of the US business schools to the trends we had identified.
The first of these trends is a straightforward one: when the FT began ranking MBA programmes in 1999, 20 of the top 25 schools were from the US, with the remaining five from Europe; however, in 2010 there are just 11 US schools in the top 25, a further 11 are in Europe and three business schools are in Asia.
The second trend highlights a fall in the return on investment – in terms of the increase in salary five years after starting the programme – from studying an MBA in the US.
In the FT rankings published between 2000 and 2003, for example, alumni from 20 of the top 25 schools enjoyed, on average, salary increases of at least 150 per cent over that five-year period.
Today, no alumnus from a US school in the FT rankings enjoys a salary increase of more than 131 per cent (Yale).
The reasons for this are twofold. The students currently entering the top US MBA programmes are of the same professional standing as their predecessors – they hold the same qualifications and job titles.
And, as you would expect, the salaries reported by each cohort on entering their MBA have increased year-on-year by a few percentage points. However, salaries reported three years after graduation have not increased at the same rate and, in some cases, have even declined.
For example, in the FT 2003 rankings, those US students who reported US dollar salaries before and after graduation earned on average nearly $125,000 three years after graduation. Seven years later, their peer group who responded for the 2010 rankings earned salaries of $121,532.
Of course, the problem is compounded for US schools because many of them have increased their fees by 4 or 5 per cent each year over that period, squeezing the value for money they offer and resulting in graduates having anything between $50,000 and $100,000 of debt on graduation.
Money is not the only reason why the US schools are slipping down the FT rankings. As well as looking at the career progress of business school alumni, the FT also evaluates the ideas creation and academic credentials of the school and the international experience that the students receive.
The reason for this is that when the FT rankings were first established more than a decade ago, American business schools were struggling to be more than just US-centric schools and European schools were trying to match the academic credentials of their US counterparts.
What the rankings in 2010 show is that while European and Asian business schools have managed to penetrate the top echelons of the research community – three of the top 11 schools are from Europe or Asia – no US school has been able to penetrate the stranglehold that European schools in particular have on international students and faculty.
Furthermore, graduates from US schools do not enjoy the sort of international course experience or demonstrate the range of international mobility of their peers elsewhere. Indeed, only one US school in the rankings, Thunderbird School of Global Management, reports that more than half its students are from outside the US (53 per cent) and only Columbia Business School has more than 50 per cent international faculty.
So, what was the reaction of US business schools? Opinions were clearly divided – some individuals were visibly concerned by the data. Others shrugged it off.
As one professor put it: “It’s nice to have an alternative view of the market.”
www.credila.com
Monday, July 26, 2010
Saturday, July 24, 2010
Getting an MBA Degree Through Distance Learning
The concept of distance learning has been around for ages in the history of mankind. However, in recent times as we move in the information age, it has become the more accepted norm in society. Making the best use of various means and tools like the internet and audio-video conferencing, has helped students correspond with tutors or teachers more effectively. Definitely with numerous tools available for individuals, distance learning programs have gained immense popularity in the past few years. The growth in the ratio of MBAs awarded in recent years is definitely one of the few examples that show the impact of the increase in online learning programs.
Today there are number of institutes offering multiple online education courses through different universities. Among all these distance learning courses, the MBA is the most popular and in coming years expected to gain more recognition. This learning course degree has managed to grab the highest number students as compared to other courses. For those who still think the MBA through distance learning is mediocre to a regular MBA course, then they must change their perception.
If you are one of those who are looking for higher career achievement can now select to boost your career by opting for online MBA program. These days most of the distance learning MBA courses is available online and so as an individual you have no reason to delay pursuing your MBA just because you are busy with your work. Besides this, talking about the major benefit of distance learning MBA degree course is – you do not require completing your course in a water-tight study schedule. You can easily study at your own speed and appear the exams when you think you are ready.
You can apply for am MBA degree by following either of the two approaches-one can be by applying for a part time distance learning course and the other by applying full time learning course. While in the previous one you require to attend weekend classes but in latter one there are no such requirements. However, when you are planning to choose your MBA program, it is important that you select an MBA program from an accredited university or institute/school with a good track evidence and reputation. This small step and alertness can help you in avoiding any trap by degree mills or degree scams who want to defraud your money without giving you the degree that actually have any significance. Besides this, you must select the school that offers you a tuition rate you can afford, fit your style of learning best and give you the most flexible scheduling options.
Today MBA online degree have become increasingly popular and very acceptable to many employers. In fact many companies have started providing support in term of scholarships for their potential employees in order to enhance their management skills through online learning MBA program. The career opportunities open to MBA graduates are very genuine and should be taken into serious thought as you make decision regarding your future.
www.credila.com
Today there are number of institutes offering multiple online education courses through different universities. Among all these distance learning courses, the MBA is the most popular and in coming years expected to gain more recognition. This learning course degree has managed to grab the highest number students as compared to other courses. For those who still think the MBA through distance learning is mediocre to a regular MBA course, then they must change their perception.
If you are one of those who are looking for higher career achievement can now select to boost your career by opting for online MBA program. These days most of the distance learning MBA courses is available online and so as an individual you have no reason to delay pursuing your MBA just because you are busy with your work. Besides this, talking about the major benefit of distance learning MBA degree course is – you do not require completing your course in a water-tight study schedule. You can easily study at your own speed and appear the exams when you think you are ready.
You can apply for am MBA degree by following either of the two approaches-one can be by applying for a part time distance learning course and the other by applying full time learning course. While in the previous one you require to attend weekend classes but in latter one there are no such requirements. However, when you are planning to choose your MBA program, it is important that you select an MBA program from an accredited university or institute/school with a good track evidence and reputation. This small step and alertness can help you in avoiding any trap by degree mills or degree scams who want to defraud your money without giving you the degree that actually have any significance. Besides this, you must select the school that offers you a tuition rate you can afford, fit your style of learning best and give you the most flexible scheduling options.
Today MBA online degree have become increasingly popular and very acceptable to many employers. In fact many companies have started providing support in term of scholarships for their potential employees in order to enhance their management skills through online learning MBA program. The career opportunities open to MBA graduates are very genuine and should be taken into serious thought as you make decision regarding your future.
www.credila.com
Admission to Executive MBAs in India
Admission to Executive MBAs in India
Here is a FAQ about executive MBAs. Its my personal opinion after completing one such course. In any case, consult multiple people before taking any decision.
1. Which are the leading institutions providing executive MBA courses (full time) ?
Almost all leading IIMs -A,B,C,L,Indore- along with ISB, are providing 1 year executive MBA courses in India.
2. Admission criteria?
a) GMAT score b) Interviews c) Overall profile
3. What is a good GMAT score?
It varies based on one’s profile. Someone working in manufacturing industry could get in with a score of 600. But considering the fact that most candidates belong to the IT crowd, one should target at least 700
4. What is a good profile?
a) Good academics (from good institutions is a bonus), b) coprorate experience with reputed organizations, c) awards/achievements from work place, d) Entrepreneurship experience, e)Achivement in terms of innovation (ideas, processes etc..) in work place f) Social service/Extra curriculars (if applicable)
5. What is the best experience level where one can make optimum use of MBA (in terms of placement?)
I would say 7-8 years of experience with more than 1 year of management experience. Sales/Presales exp also advantageous.
6. What is evaluated in interview?
a) Clarity of thoughts and communication b) Clarity about why you want to do MBA? c) Evaluation of the candidates quality of experience and possibility of boosting that career based on MBA d) Awareness of society in general, world economy, national level issues and economy, awareness about ones own industry, company as well as clear thoughts on areas/ways of imporvement in the above.
7. ISB, IIMA, B, C – which one to choose?
Apply everywhere! However,
- ISB prefers less than 4 yr experience;
- Choose anyone based on your convenience. Wont make much difference for experienced candidates like you.
8. How is it is for ladies to get admission?
There is a shortage of ladies in all these courses. Its pretty easy for ladies to get admission !
9. How much salary hike I can expect after doing the course?
It depends on your current salary ! If you are already getting very high salary, MBA cant help you too much (in getting higher salary)
10.Is academic grades/marks important in final placements?
Not at this level (avg exp of 10 years) . Your fitment with the companies requirement and your quality of experience will decide your placement.
www.credila.com
Here is a FAQ about executive MBAs. Its my personal opinion after completing one such course. In any case, consult multiple people before taking any decision.
1. Which are the leading institutions providing executive MBA courses (full time) ?
Almost all leading IIMs -A,B,C,L,Indore- along with ISB, are providing 1 year executive MBA courses in India.
2. Admission criteria?
a) GMAT score b) Interviews c) Overall profile
3. What is a good GMAT score?
It varies based on one’s profile. Someone working in manufacturing industry could get in with a score of 600. But considering the fact that most candidates belong to the IT crowd, one should target at least 700
4. What is a good profile?
a) Good academics (from good institutions is a bonus), b) coprorate experience with reputed organizations, c) awards/achievements from work place, d) Entrepreneurship experience, e)Achivement in terms of innovation (ideas, processes etc..) in work place f) Social service/Extra curriculars (if applicable)
5. What is the best experience level where one can make optimum use of MBA (in terms of placement?)
I would say 7-8 years of experience with more than 1 year of management experience. Sales/Presales exp also advantageous.
6. What is evaluated in interview?
a) Clarity of thoughts and communication b) Clarity about why you want to do MBA? c) Evaluation of the candidates quality of experience and possibility of boosting that career based on MBA d) Awareness of society in general, world economy, national level issues and economy, awareness about ones own industry, company as well as clear thoughts on areas/ways of imporvement in the above.
7. ISB, IIMA, B, C – which one to choose?
Apply everywhere! However,
- ISB prefers less than 4 yr experience;
- Choose anyone based on your convenience. Wont make much difference for experienced candidates like you.
8. How is it is for ladies to get admission?
There is a shortage of ladies in all these courses. Its pretty easy for ladies to get admission !
9. How much salary hike I can expect after doing the course?
It depends on your current salary ! If you are already getting very high salary, MBA cant help you too much (in getting higher salary)
10.Is academic grades/marks important in final placements?
Not at this level (avg exp of 10 years) . Your fitment with the companies requirement and your quality of experience will decide your placement.
www.credila.com
Why an EMBA
It’s one of the more prestigious degrees around, but you have to admit that the MBA has become too pedestrian for its own good. Too many institutions offer this graduate program in business administration, so much so that an MBA graduate is now worth only a dime a dozen. So if you want to distinguish yourself and stand out from the crowd, you must choose a program that is offered at an institute whose reputation precedes itself, or you could go in for an EMBA.
An Executive Master of Business Administration degree is specially designed for the working executive, someone with enough experience under their belt in the business world. An EMBA degree is often offered part time so that busy professionals are able to find time to balance both work and education, and schedules vary from university to university.
The one drawback of the EMBA is that the fees are usually on the high side, but then, for working professionals who seek higher education options in the hope that it will help them climb further up the career ladder, money is often no objective. Also, when the cost is high, the clientele is exclusive. So only the best students who can really afford this degree get in, and this helps EMBA retain an edge over the more common MBA.
If you are hoping to gain admission to this course, you need to have enough experience and financial wherewithal to be accepted at a school that offers one. You have to also take the GMAT, be proficient in certain extra-curricular activities and have the right references. Some schools also accord importance to community service. It’s wise to get your employer to sponsor your education, but if you’re looking for a new job and hoping to use the EMBA to secure one, it’s better to do it on your own steam.
The duration of the degree varies from school to school – there are one, two and three year programs available. While most colleges require you to have at least 5 years of experience for their one and two year EMBA degrees, you must be a top level executive to qualify for the three year program which is very exclusive and reserved for the highest tier of working professionals in the business world.
Before beginning an EMBA program, you should know that the schedules are demanding and the coursework grueling. So enroll yourself only if you are serious about finishing the course and are willing to make a few sacrifices to give it your best shot. If not, the pursuit of a little knowledge could leave your wallet a whole lot lighter with nothing to show in return.
www.credila.com
An Executive Master of Business Administration degree is specially designed for the working executive, someone with enough experience under their belt in the business world. An EMBA degree is often offered part time so that busy professionals are able to find time to balance both work and education, and schedules vary from university to university.
The one drawback of the EMBA is that the fees are usually on the high side, but then, for working professionals who seek higher education options in the hope that it will help them climb further up the career ladder, money is often no objective. Also, when the cost is high, the clientele is exclusive. So only the best students who can really afford this degree get in, and this helps EMBA retain an edge over the more common MBA.
If you are hoping to gain admission to this course, you need to have enough experience and financial wherewithal to be accepted at a school that offers one. You have to also take the GMAT, be proficient in certain extra-curricular activities and have the right references. Some schools also accord importance to community service. It’s wise to get your employer to sponsor your education, but if you’re looking for a new job and hoping to use the EMBA to secure one, it’s better to do it on your own steam.
The duration of the degree varies from school to school – there are one, two and three year programs available. While most colleges require you to have at least 5 years of experience for their one and two year EMBA degrees, you must be a top level executive to qualify for the three year program which is very exclusive and reserved for the highest tier of working professionals in the business world.
Before beginning an EMBA program, you should know that the schedules are demanding and the coursework grueling. So enroll yourself only if you are serious about finishing the course and are willing to make a few sacrifices to give it your best shot. If not, the pursuit of a little knowledge could leave your wallet a whole lot lighter with nothing to show in return.
www.credila.com
Q+A With Doug Guthrie, Dean of the George Washington University School of Business
There's a new Dean in town. Dr. Doug Guthrie, who has a background in sociology, is soon to take the helm at the Washington, D.C.-based George Washington University School of Business.
In one of his first interviews as Dean of the School, Guthrie talks about why he prefers business students over sociology students, how responsible firms can make more money, why no one can compete with US-educated Chinese grads and his love of Indigo Girls.
The youthful Dean earned his first degree, an A.B. in East Asian languages and civilizations, from the University of Chicago in 1992.
He earned his master’s and Ph.D. in sociology from the University of California, Berkeley. He has taught at Harvard, Insead and Stanford. Most recently he was a professor of management at NYU Stern School of Business.
His books include China and Globalization: The Social, Economic, and Political Transformation of Chinese Society, published in 2006 and Dragon in a Three-Piece Suit: The Emergence of Capitalism in China, published in 1999.
You were originally a sociology professor. What perspective does sociology give you on business?
Sociology gives a much wider perspective on how markets work.
The problem with a purely economic and financial approach is that you get just one piece of the puzzle. We also need to look at political, social and cultural systems.
For so many years, business schools have trained sophisticated technical people think about markets as purely economic and financial systems.
But those systems are embedded in complex social and political environments.
Why did you move into teaching business?
I started out as a China specialist and a sociology professor. I’ve always had a passion for particular subjects: the complexities of market power, inequality within markets.
Business students challenge me and they don’t agree. My thinking is completely foreign to them. Sociology students self-select: they agree with you and that’s why they chose the discipline. When I teach MBA students who are going on to work on Wall Street I feel like I’m doing something.
Corporate Social Responsibility is one of your research interests. A lot of people are cynical about it. What are the opportunities in this area now?
There’s a trend that goes back to the 1950s of tycoon philanthropy – a way for corporations to carry one with business as usual while justifying their existence on the basis of a social agenda. I’m uninterested in that definition.
I’m interested in issues of sustainability and how corporations can strategically think about the places where they have greatest risk, and the systemic possibilities. How can we train business leaders to avoid events like Shell in Nigeria in 1994 and Nike in 1997?
I’d like to train business leaders to think creatively about how to save money and maximize shareholder value by mitigating these risks. Ultimately it’s in the interests of their companies.
There are people talking about risk management and corporate citizenship from that perspective. The global director of New York branding agency Landor, Scott Osman, has developed an exciting practice around companies who want to evolve business models that converge the interests of people with economics.
We have a responsibility to train business leaders who will think about how fortunate they are and what their role is in society as members of these powerful organizations. Only nation states are more powerful in today’s global economy.
It seems like every week there are new business degrees on offer. Do we really need this many business graduates?
I think the issue is not how many business degrees are on offer but how focused the degrees are. Whether at undergrad, master or executive level, technical knowledge needs to be balanced with broader thinking that includes philosophy, ethics and social sciences.
Who’s more unethical? An MBA who makes millions selling mortgage-backed securities or an accounting professor who neglects to teach the systemic risks associated with off-balance-sheet liabilities?
Probably the accounting professor. There’s nothing inherently wrong with mortgage-backed securities: there are serious problems if you don’t think about the systemic risks that arise when you package bad assets into tranches and sell them on. I think there’s something wrong in failing to train business leaders in how markets can unfold in negative ways.
More business schools are opening in Chinese universities. What are the challenges for business grads in the US versus grads in China? We hear a lot about the shrinking skills base in the West, but also the lack of jobs for grads in China.
The bigger problem for the US is that in most schools we don’t have as clear enough understanding of how to embrace globalization. A lot of schools do study tours and use international cases, but few school know how to teach about, say, the BRIC economies in a deep and effective way.
I’ve taught classes on the multinational corporation in China, and students have come to me saying: “I really want to work in China. What should I do?” US students are at such a disadvantage. The answer is: you need to have embraced the language, you need a deep knowledge of the market; you’re competing against Chinese students who want to return home… We’re not training students who can compete in that world.
Within China, most business schools (with a few exceptions like CEIBS and Tsinghua) have a distance to go to catch up with US and UK schools. They aren’t yet producing a graduate population with higher level skills in finance, leadership, marketing and accounting.
Both US and Chinese business grads will find it tough to compete with the people who have the best of both worlds: Chinese students, educated in the US, we go back to take up high-skilled jobs in China.
What’s the worst job you’ve ever done?
One summer during my undergrad when I was a bike messenger in Chicago (anyone who has been to Chicago will understand this).
What’s your favorite business book?
Michael Lewis’s The Big Short, about the financial crisis. He was in the industry so he has access to people. He’s good at showing how personalities were in large part responsible for what happened.
Tell us what’s great about the GW School of Business in one sentence
I believe we’re the business school that’s taking advantage of being at the intersection of business and politics. We’ve embraced the concept of internationalism – we’re one of the few business schools that have an international business department.
Tell us something your students don’t know about you
I play the guitar and my favorite music to play is folk rock. Ani DiFranco and The Indigo Girls
In one of his first interviews as Dean of the School, Guthrie talks about why he prefers business students over sociology students, how responsible firms can make more money, why no one can compete with US-educated Chinese grads and his love of Indigo Girls.
The youthful Dean earned his first degree, an A.B. in East Asian languages and civilizations, from the University of Chicago in 1992.
He earned his master’s and Ph.D. in sociology from the University of California, Berkeley. He has taught at Harvard, Insead and Stanford. Most recently he was a professor of management at NYU Stern School of Business.
His books include China and Globalization: The Social, Economic, and Political Transformation of Chinese Society, published in 2006 and Dragon in a Three-Piece Suit: The Emergence of Capitalism in China, published in 1999.
You were originally a sociology professor. What perspective does sociology give you on business?
Sociology gives a much wider perspective on how markets work.
The problem with a purely economic and financial approach is that you get just one piece of the puzzle. We also need to look at political, social and cultural systems.
For so many years, business schools have trained sophisticated technical people think about markets as purely economic and financial systems.
But those systems are embedded in complex social and political environments.
Why did you move into teaching business?
I started out as a China specialist and a sociology professor. I’ve always had a passion for particular subjects: the complexities of market power, inequality within markets.
Business students challenge me and they don’t agree. My thinking is completely foreign to them. Sociology students self-select: they agree with you and that’s why they chose the discipline. When I teach MBA students who are going on to work on Wall Street I feel like I’m doing something.
Corporate Social Responsibility is one of your research interests. A lot of people are cynical about it. What are the opportunities in this area now?
There’s a trend that goes back to the 1950s of tycoon philanthropy – a way for corporations to carry one with business as usual while justifying their existence on the basis of a social agenda. I’m uninterested in that definition.
I’m interested in issues of sustainability and how corporations can strategically think about the places where they have greatest risk, and the systemic possibilities. How can we train business leaders to avoid events like Shell in Nigeria in 1994 and Nike in 1997?
I’d like to train business leaders to think creatively about how to save money and maximize shareholder value by mitigating these risks. Ultimately it’s in the interests of their companies.
There are people talking about risk management and corporate citizenship from that perspective. The global director of New York branding agency Landor, Scott Osman, has developed an exciting practice around companies who want to evolve business models that converge the interests of people with economics.
We have a responsibility to train business leaders who will think about how fortunate they are and what their role is in society as members of these powerful organizations. Only nation states are more powerful in today’s global economy.
It seems like every week there are new business degrees on offer. Do we really need this many business graduates?
I think the issue is not how many business degrees are on offer but how focused the degrees are. Whether at undergrad, master or executive level, technical knowledge needs to be balanced with broader thinking that includes philosophy, ethics and social sciences.
Who’s more unethical? An MBA who makes millions selling mortgage-backed securities or an accounting professor who neglects to teach the systemic risks associated with off-balance-sheet liabilities?
Probably the accounting professor. There’s nothing inherently wrong with mortgage-backed securities: there are serious problems if you don’t think about the systemic risks that arise when you package bad assets into tranches and sell them on. I think there’s something wrong in failing to train business leaders in how markets can unfold in negative ways.
More business schools are opening in Chinese universities. What are the challenges for business grads in the US versus grads in China? We hear a lot about the shrinking skills base in the West, but also the lack of jobs for grads in China.
The bigger problem for the US is that in most schools we don’t have as clear enough understanding of how to embrace globalization. A lot of schools do study tours and use international cases, but few school know how to teach about, say, the BRIC economies in a deep and effective way.
I’ve taught classes on the multinational corporation in China, and students have come to me saying: “I really want to work in China. What should I do?” US students are at such a disadvantage. The answer is: you need to have embraced the language, you need a deep knowledge of the market; you’re competing against Chinese students who want to return home… We’re not training students who can compete in that world.
Within China, most business schools (with a few exceptions like CEIBS and Tsinghua) have a distance to go to catch up with US and UK schools. They aren’t yet producing a graduate population with higher level skills in finance, leadership, marketing and accounting.
Both US and Chinese business grads will find it tough to compete with the people who have the best of both worlds: Chinese students, educated in the US, we go back to take up high-skilled jobs in China.
What’s the worst job you’ve ever done?
One summer during my undergrad when I was a bike messenger in Chicago (anyone who has been to Chicago will understand this).
What’s your favorite business book?
Michael Lewis’s The Big Short, about the financial crisis. He was in the industry so he has access to people. He’s good at showing how personalities were in large part responsible for what happened.
Tell us what’s great about the GW School of Business in one sentence
I believe we’re the business school that’s taking advantage of being at the intersection of business and politics. We’ve embraced the concept of internationalism – we’re one of the few business schools that have an international business department.
Tell us something your students don’t know about you
I play the guitar and my favorite music to play is folk rock. Ani DiFranco and The Indigo Girls
Business School News: Aston Grad Sets Up Book Charity
School stories > Business School News
Business School News: Aston Grad Sets Up Book Charity
MBA brings much-needed business books back to Nigeria
Submit a story
MBA Graduate Ayo Ajayi with Paul Hebron, Aston University's Alumni Relations Officer
Aston Business School is set to send books to universities throughout Nigeria to help a new charity, set up by a recent Nigerian MBA graduate, to provide better educational opportunities to the locals.
Promoting his charity, the Michael Andrew Olorunfemi Foundation, Ayo Ajayi, will see between 200 and 1,000 books being shipped to his native country. Aston Business School has also committed a further five shipments planned in the next twelve months.
The books in subjects of Business & Management, Engineering, Modern Languages, Teaching, Life & Health Sciences, Social Sciences, IT, Teaching and English language will be donated from the university’s library.
“Before I left to go back to Nigeria, decided I needed to develop a programme which would enable me to give back to the community I come from,” said Ajayi.
“Education is crucial for development, but with the limited investment in education in Nigeria, this seems to be a perfect way of making a difference and contributing towards empowering people, particularly youth.
“This kind of collaborative project will significantly compliment to improve the standard of education in Nigeria, build capacity and will hopefully meet the aspiration of the Nigerian students for access to up-to-date and relevant educational material.”
How to Build a Business School?
It took Yash Gupta, dean of Carey Business School at Johns Hopkins University, three years to find out the ups and downs of starting a b-school from scratch.
In 2006, the world-renowned research university received $50 million from real estate mogul William Polk Carey. After three years in the process of curriculum design, fund-raising, faculty recruiting and accreditation searching, the first class for Hopkins’ new global MBA program is set to arrive in August.
www.credila.com
Business School News: Aston Grad Sets Up Book Charity
MBA brings much-needed business books back to Nigeria
Submit a story
MBA Graduate Ayo Ajayi with Paul Hebron, Aston University's Alumni Relations Officer
Aston Business School is set to send books to universities throughout Nigeria to help a new charity, set up by a recent Nigerian MBA graduate, to provide better educational opportunities to the locals.
Promoting his charity, the Michael Andrew Olorunfemi Foundation, Ayo Ajayi, will see between 200 and 1,000 books being shipped to his native country. Aston Business School has also committed a further five shipments planned in the next twelve months.
The books in subjects of Business & Management, Engineering, Modern Languages, Teaching, Life & Health Sciences, Social Sciences, IT, Teaching and English language will be donated from the university’s library.
“Before I left to go back to Nigeria, decided I needed to develop a programme which would enable me to give back to the community I come from,” said Ajayi.
“Education is crucial for development, but with the limited investment in education in Nigeria, this seems to be a perfect way of making a difference and contributing towards empowering people, particularly youth.
“This kind of collaborative project will significantly compliment to improve the standard of education in Nigeria, build capacity and will hopefully meet the aspiration of the Nigerian students for access to up-to-date and relevant educational material.”
How to Build a Business School?
It took Yash Gupta, dean of Carey Business School at Johns Hopkins University, three years to find out the ups and downs of starting a b-school from scratch.
In 2006, the world-renowned research university received $50 million from real estate mogul William Polk Carey. After three years in the process of curriculum design, fund-raising, faculty recruiting and accreditation searching, the first class for Hopkins’ new global MBA program is set to arrive in August.
www.credila.com
Friday, July 23, 2010
Admissions Q&A: Georgia Tech
At the Georgia Tech College of Management (Georgia Tech Full-Time MBA Profile), the job search starts even before students are admitted. The director of MBA career services plays a big role in the admissions process, and students whose job prospects look poor might not get in, says MBA Admissions Director Paula Wilson. "This is a big investment for the student, and an investment for us as well," she explains.
This emphasis on employment means that Georgia Tech MBAs have fared better in the job market than many of their peers, despite the down economy. By three months after graduation, 85 percent of the Class of 2009 had jobs, with the average starting salary topping $85,000. Fully 100 percent of the Class of 2010 had summer internships.
Wilson recently spoke with Bloomberg Businessweek's Zachary Tracer about how Georgia Tech evaluates applicants and offered some tips on getting in. Here are edited excerpts of their conversation.
Could you tell me about any big changes you've made to the application process for the coming year?
We haven't made any major changes, [but] since 2004, we have included the director of MBA career services in our full-time interviews for admissions, and he is on the admissions committee. To be admitted to the full-time program, you have to interview with me as well as with the director of MBA career services. We want to make sure that not only can we help the students succeed academically, but that we can help them in achieving their career goals as well. [The director of MBA career services] is almost doing the first interview for the corporate recruiters, to make sure that [students] are going to be competitive in corporate recruiting interviews.
What are you looking for in the interview and also in the application process? What are you evaluating people on as candidates for the program?
Our students tend to be very bright, and they're competitive in the sense that they tend to push each other to do well. They have that very much Georgia Tech mentality of being great problem-solvers and rolling their sleeves up and getting the job done. We do not have a minimum work experience requirement, but we strongly recommend two to three years.
What makes someone a good fit for a Georgia Tech MBA, as opposed to any of the other MBA programs in the country?
We are really looking for people who have the reputation of being down to earth and collaborative. We always say there's not really a GMAT score high enough to overcome arrogance.
What are some of the common mistakes you see in the interview?
I think that the most common mistake is not being prepared for the interview. This is really a pet peeve of ours. Applicants really need to treat this process just like they would a job interview and research the school, come in in a suit, and be prepared.
And how about in the application, are there any mistakes you see that are common?
I would say with the application the most common mistakes are maybe not reading the essay questions. Usually these students are applying to a number of MBA programs, and I think they try to make their essay response fit into each one. While a lot of the questions are similar, each school has some nuances and paying attention to that is important.
Can you offer any tips for students working on your essays?
You want to spend time on them and get them right, but I think sometimes students tend to overthink and spend too much time on the essays making sure that they're perfect.
You have an essay question that asks student who they would invite to a dinner. How should applicants tackle that?
That essay, where there's never a right or wrong answer, it gives us the opportunity to get to know them a little better as a person. It gives them an opportunity to be creative and hopefully have a little fun in the process. One of my favorites was a young man who had invited four superheroes and kind of tied it back to a business organization.
How important are GMAT scores when you are reviewing an application?
As we are going through applications and trying to select people to bring in and interview, having a strong GMAT score is going to help you make that first cut. A high GMAT score certainly doesn't guarantee anything. We always say there's not one part of the application that's a dealmaker. But there certainly can be deal-breakers.
What makes a good reference for a student?
I would recommend a professional or an academic reference, someone who knows the student well. The thing for them to keep in mind is to stay away from personal references or even references from people that they think may impress the committee. So, for example, they wouldn't want to use the president of their company if they've just met this person at a company picnic.
One thing that stands out about Georgia Tech is that many of your students are engineers. What proportion of the students are engineers and how does that affect the academic experience for everybody?
About half of our students come from engineering or computer science backgrounds. They're great in the classroom because they're great problem-solvers [and] our corporate recruiters love them for the same reason. They really help the people who are not engineers to be able to see the details and to be great problem-solvers.
But really, is Georgia Tech just a business school for engineers?
Our program is not more technical or quantitative than most of our peer schools. Certainly I think a lot of the things we're known for with corporate recruiters are things like operations management and IT and technology commercialization, but we have a number of students who go into corporate finance, to marketing, to leadership development programs, strategic management consulting.
I see that international applicants make up about 40 percent of the pool of applicants, but only 16 percent of the class of 2010. Do you have any advice for international applicants?
That was actually a conscious decision on our part, in terms of reducing the number of international students. It really came back to career services being a part of the admissions process. Many of the international students want to stay and get some experience in the U.S. and we just haven't found that there are a lot of corporate recruiters willing to interview international students. I think with the unemployment rate in the U.S. being around 10 percent, it's just hard to justify hiring an international when there's a lot of U.S. talent out there.
Has Georgia Tech made any effort to recruit women or minorities into the program? The business school was only 15 percent female last year.
One hallmark this year for us is that our class coming in is around 30 percent women and 32 percent minorities. All that we've done is made a concerted effort to provide a more personal experience for these students. I think we have to put students, especially women or minorities or people who come from non-engineering backgrounds, in touch with people who have similar backgrounds.
Are there any changes to the curriculum recently or upcoming that students should be aware of?
We are starting to offer more courses in sustainability, especially through our operations management area. We've also beefed up our real estate offerings.
Can you tell me about some of the dual-degree programs that you have and how those benefit students?
We actually have a dual-degree program with any other graduate program at Tech. Most of the students we get are from engineering, but we've had students from architecture, from international affairs, industrial design, other departments across Georgia Tech.
One thing that comes up a lot when you think of the Georgia Tech College of Management is that it's a small program. What are some of the pluses and minuses of having a small MBA program?
I think that our students really enjoy being in one cohort and getting to know each other. The traditional minuses that you think of with small classes really haven't been a problem for us. For example, limited electives. Our administration has been very responsive to student need, and if there is sufficient demand for a particular class, it generally hasn't been a problem to offer that course. I think another minus that people think of is the difficulty of getting corporate recruiters to recruit on campus. But as you can see from our job numbers the last few years, this hasn't been a problem.
Have you had to adjust your career services during the downturn? How have you helped students find jobs?
Our career services staff has worked very hard and our students have as well. The small class size is a big plus here, because our career service advisers only advise about 20 students per class, and students work with the same career adviser for two years, so they really get to know each other very well. I would say our faculty, our alums, our College of Management advisory board have also been tremendous resources in providing contacts and leads.
Atlanta is a pretty big business center. How does that play into the job search for students and also the opportunities that the school can offer students throughout the year?
Certainly I think we work very closely with the companies here in Atlanta but [we] encourage the students to think nationally in terms of their job search. In terms of classes, it's been amazing. Being here in Atlanta certainly gives us access to a lot of companies and a lot of business leaders who can come right down the street and speak in classes.
You said you'd like for students to have a national job search, but has the school been able to encourage national recruiters to come and recruit students?
We've had to reach out to companies around the country to come in and recruit. While we do have some of the Atlanta companies coming in, we don't rely on those companies to be the primary source of jobs for our students.
www.credila.com
This emphasis on employment means that Georgia Tech MBAs have fared better in the job market than many of their peers, despite the down economy. By three months after graduation, 85 percent of the Class of 2009 had jobs, with the average starting salary topping $85,000. Fully 100 percent of the Class of 2010 had summer internships.
Wilson recently spoke with Bloomberg Businessweek's Zachary Tracer about how Georgia Tech evaluates applicants and offered some tips on getting in. Here are edited excerpts of their conversation.
Could you tell me about any big changes you've made to the application process for the coming year?
We haven't made any major changes, [but] since 2004, we have included the director of MBA career services in our full-time interviews for admissions, and he is on the admissions committee. To be admitted to the full-time program, you have to interview with me as well as with the director of MBA career services. We want to make sure that not only can we help the students succeed academically, but that we can help them in achieving their career goals as well. [The director of MBA career services] is almost doing the first interview for the corporate recruiters, to make sure that [students] are going to be competitive in corporate recruiting interviews.
What are you looking for in the interview and also in the application process? What are you evaluating people on as candidates for the program?
Our students tend to be very bright, and they're competitive in the sense that they tend to push each other to do well. They have that very much Georgia Tech mentality of being great problem-solvers and rolling their sleeves up and getting the job done. We do not have a minimum work experience requirement, but we strongly recommend two to three years.
What makes someone a good fit for a Georgia Tech MBA, as opposed to any of the other MBA programs in the country?
We are really looking for people who have the reputation of being down to earth and collaborative. We always say there's not really a GMAT score high enough to overcome arrogance.
What are some of the common mistakes you see in the interview?
I think that the most common mistake is not being prepared for the interview. This is really a pet peeve of ours. Applicants really need to treat this process just like they would a job interview and research the school, come in in a suit, and be prepared.
And how about in the application, are there any mistakes you see that are common?
I would say with the application the most common mistakes are maybe not reading the essay questions. Usually these students are applying to a number of MBA programs, and I think they try to make their essay response fit into each one. While a lot of the questions are similar, each school has some nuances and paying attention to that is important.
Can you offer any tips for students working on your essays?
You want to spend time on them and get them right, but I think sometimes students tend to overthink and spend too much time on the essays making sure that they're perfect.
You have an essay question that asks student who they would invite to a dinner. How should applicants tackle that?
That essay, where there's never a right or wrong answer, it gives us the opportunity to get to know them a little better as a person. It gives them an opportunity to be creative and hopefully have a little fun in the process. One of my favorites was a young man who had invited four superheroes and kind of tied it back to a business organization.
How important are GMAT scores when you are reviewing an application?
As we are going through applications and trying to select people to bring in and interview, having a strong GMAT score is going to help you make that first cut. A high GMAT score certainly doesn't guarantee anything. We always say there's not one part of the application that's a dealmaker. But there certainly can be deal-breakers.
What makes a good reference for a student?
I would recommend a professional or an academic reference, someone who knows the student well. The thing for them to keep in mind is to stay away from personal references or even references from people that they think may impress the committee. So, for example, they wouldn't want to use the president of their company if they've just met this person at a company picnic.
One thing that stands out about Georgia Tech is that many of your students are engineers. What proportion of the students are engineers and how does that affect the academic experience for everybody?
About half of our students come from engineering or computer science backgrounds. They're great in the classroom because they're great problem-solvers [and] our corporate recruiters love them for the same reason. They really help the people who are not engineers to be able to see the details and to be great problem-solvers.
But really, is Georgia Tech just a business school for engineers?
Our program is not more technical or quantitative than most of our peer schools. Certainly I think a lot of the things we're known for with corporate recruiters are things like operations management and IT and technology commercialization, but we have a number of students who go into corporate finance, to marketing, to leadership development programs, strategic management consulting.
I see that international applicants make up about 40 percent of the pool of applicants, but only 16 percent of the class of 2010. Do you have any advice for international applicants?
That was actually a conscious decision on our part, in terms of reducing the number of international students. It really came back to career services being a part of the admissions process. Many of the international students want to stay and get some experience in the U.S. and we just haven't found that there are a lot of corporate recruiters willing to interview international students. I think with the unemployment rate in the U.S. being around 10 percent, it's just hard to justify hiring an international when there's a lot of U.S. talent out there.
Has Georgia Tech made any effort to recruit women or minorities into the program? The business school was only 15 percent female last year.
One hallmark this year for us is that our class coming in is around 30 percent women and 32 percent minorities. All that we've done is made a concerted effort to provide a more personal experience for these students. I think we have to put students, especially women or minorities or people who come from non-engineering backgrounds, in touch with people who have similar backgrounds.
Are there any changes to the curriculum recently or upcoming that students should be aware of?
We are starting to offer more courses in sustainability, especially through our operations management area. We've also beefed up our real estate offerings.
Can you tell me about some of the dual-degree programs that you have and how those benefit students?
We actually have a dual-degree program with any other graduate program at Tech. Most of the students we get are from engineering, but we've had students from architecture, from international affairs, industrial design, other departments across Georgia Tech.
One thing that comes up a lot when you think of the Georgia Tech College of Management is that it's a small program. What are some of the pluses and minuses of having a small MBA program?
I think that our students really enjoy being in one cohort and getting to know each other. The traditional minuses that you think of with small classes really haven't been a problem for us. For example, limited electives. Our administration has been very responsive to student need, and if there is sufficient demand for a particular class, it generally hasn't been a problem to offer that course. I think another minus that people think of is the difficulty of getting corporate recruiters to recruit on campus. But as you can see from our job numbers the last few years, this hasn't been a problem.
Have you had to adjust your career services during the downturn? How have you helped students find jobs?
Our career services staff has worked very hard and our students have as well. The small class size is a big plus here, because our career service advisers only advise about 20 students per class, and students work with the same career adviser for two years, so they really get to know each other very well. I would say our faculty, our alums, our College of Management advisory board have also been tremendous resources in providing contacts and leads.
Atlanta is a pretty big business center. How does that play into the job search for students and also the opportunities that the school can offer students throughout the year?
Certainly I think we work very closely with the companies here in Atlanta but [we] encourage the students to think nationally in terms of their job search. In terms of classes, it's been amazing. Being here in Atlanta certainly gives us access to a lot of companies and a lot of business leaders who can come right down the street and speak in classes.
You said you'd like for students to have a national job search, but has the school been able to encourage national recruiters to come and recruit students?
We've had to reach out to companies around the country to come in and recruit. While we do have some of the Atlanta companies coming in, we don't rely on those companies to be the primary source of jobs for our students.
www.credila.com
Subscribe to:
Posts (Atom)