Saturday, June 27, 2015

MBA Provides Both Immediate and Lasting Value


Type “the MBA is” into Google, and the autocomplete box fills with inauspicious indicators of the degree’s value. “The MBA is losing its magic” is followed by “the MBA is worthless” and “why the MBA is a waste of time and money.” Students graduating with an MBA disagree—and quite emphatically—according to a survey report released today at the annual Graduate Management Admission Council (GMAC) Conference in Denver.
“Business school graduates are clear in their judgment that their degrees not only provided immediate value, but lasting value,” Bob Alig, GMAC’s executive vice president for school products, said in a statement announcing the results. Indeed, nine out of 10 of the more than 3,000 graduating business school students who responded to the GMAC Global Management Education Graduate Survey (GMEGS) rate the value of their degree as good to outstanding, and 88 percent would recommend their program to others considering a graduate business degree.
GMAC
Graduates who snagged jobs early in the recruitment process were most likely to credit the degree with helping them develop skills in the areas of managing human capital, knowledge of general business functions and working well with others, GMAC reports.
Class of 2015 graduates—when surveyed in February and March of 2015—felt overwhelmingly that the degree increased their employability. Eighty-six percent said the MBA improved their chances of finding a job that meets their expectations, and 85 percent felt it both provided them with a competitive advantage and prepared them to meet challenges in the job market. The degree also introduced them to new career opportunities, said 78 percent of respondents.
“What stands out in the GMEGS survey, as well as in other surveys we have conducted over the years, is that a graduate management degree is an outstanding investment in the personal, professional, and financial aspirations of these students,” Alig added.
It doesn’t hurt that MBAs are graduating into a great market, with early employment success reaching a three-year high. According to survey respondents, 63 percent of job-seeking graduates from full-time two-year MBA programs had a job offer in hand before graduation, up from 60 percent last year.  Salaries, too, are up. Globally, MBA grads with early job offers report a median 90 percent pay bump over their pre-degree salary. That’s up from 80 percent last year and 73 percent the year before.
So why the disparity between what Google suggests “the MBA is” and what actual degree holders report? Perhaps like the iPhone’s autocorrect function, Google’s autocomplete function still offers room for improvement.

Sunday, June 7, 2015

MBA 留学 ニュース: TIME 6 Things to Know Before Applying for a MBA

Making the decision whether or not to pursue the MBA can be difficult, due to that it is an investment of time and money. However, the degree has the power to be incredibly beneficial when it comes to furthering your career, thus making it one of the most popular post-graduate degrees in the U.S., according to figures from the U.S. Department of Education in 2014.

This interview is with Shelly Taylor Heinrich, Director of MBA Admissions at Georgetown University’s McDonough School of Business.

Question:  How can someone tell when it is the right time to apply for an MBA? Is there a certain age you recommend, or should it be based on the type or years of work experience you have attained?

Shelly Taylor Heinrich: A candidate should choose to apply for an MBA program when and if they believe it will allow them to achieve their career goals. So, this is an individual and personal decision which only a candidate can make. Most MBA Programs typically require a minimum of two years of full-time professional work experience at the time a candidate would enroll in a program. The average work experience of enrolled students, however, is usually between four and six years; at Georgetown the average entering full-time student in Fall 2014 had 4.75 years. Having a high level of work experience is extremely valuable because it contributes to the overall classroom experience and conversation. Additionally, many MBA recruiters also look for this four to six year average when recruiting students post-MBA, so it makes candidates more marketable going into an MBA if they have this experience.

Question:  How can someone best prepare for the application process and when should they begin?

Heinrich: Ideally, candidates would start preparing for the application process 12 to 18 months prior to when they plan to start the program. The GMAT, or GRE, exams required for admission to most schools, are the application components which take the longest preparation lead time. Candidates should give themselves at least three to four months to prepare for the exam and allow for flexibility to take it more than once if they are not happy with their score. It is also important to start preparing this early since the first round application deadlines of most schools are September through November. Applying by the first round usually makes you most competitive for admission and scholarship decisions. If you don’t make the first or second rounds, but still have a strong desire to attend as soon as possible, the last rounds are typically late spring.

Question:  What is the difference between a Master’s (such as in finance or marketing) and an MBA, and how should a potential applicant discern which degree to pursue?

Heinrich: A specialized master’s degree (i.e. one that specializes in a subject area like finance or marketing) is usually shorter in duration and provides students a tailored expertise in a certain area. An MBA degree, on the other hand, provides students with a very diverse and broad curriculum in core business concepts (e.g. marketing, finance, operations, accounting) and the opportunity to gain expertise in a more specialized elective area. Additionally, the emphasis on leadership preparation and career resources tends to be a lot more abundant for MBA programs than in specialized master’s programs. Again, this is dependent upon the school and program.

Question:  Regarding the GMAT, what should someone do if they are not the strongest test-takers, but have tremendous work ethic and leadership skills?

Heinrich: Most schools take a holistic approach to the application process and look at all aspects of a candidate’s application which include the GMAT or GRE, undergraduate GPA, strength of undergraduate major and institution, years and quality of professional work experience, and fit determined by essays, interview and recommendations. The GMAT or GRE are, however, the only way that schools can equally compare students and are one way (in addition to quantitative courses taken in college) to determine a candidate’s ability to perform well in the rigorous quantitative courses of the curriculum. If you don’t believe you are the strongest test-taker, I recommend starting early to prepare; either buy a few test preparation books or enroll in a preparation course. Give yourself enough time to take it a few times so you aren’t reliant on one score. Additionally, enroll in a few quantitative courses at a local college so that should you not test well, you can prove your quantitative abilities in other ways. The bottom line is that schools want the students they admit to be successful in the quant courses, so they need some way of determining the probability of your success through standardized tests or coursework.

MOGUL: Are there certain myths that come with getting an MBA that you would like to dispel?

Heinrich: Attaining an MBA degree is not just for those wanting to pursue traditional for-profit sectors anymore. The knowledge gained from an MBA is applicable to all sectors and industries. In fact, many people are choosing to utilize their MBAs in the non-profit, NGO, or government sectors. They know that the hard business skills combined with leadership experience gained from an MBA will allow them to transform or lead an organization to make a positive difference.

Question:  In today’s competitive market, what are the overall benefits of receiving an MBA and making the financial investment?

Heinrich: There is a financial investment, but there is also a strong return on investment. An MBA provides the skills often required to be successful in a career and advance to the leadership positions that a student seeks. For some jobs and industries, an MBA is required, and for others, it is often preferred. Through rigorous course-work, case-based learning and competitions, internships, and global experiential consulting or learning experiences, an MBA provides you with a level of credibility and expertise that can make you the ‘go-to person’ on a team. Strong MBA programs also typically boast strong career service resources. At Georgetown McDonough, 91% of the Class of 2014 full-time graduates received a job offer within three months of graduation and 99% of Class of 2015 full-time students seeking an internship received one.

Shelly Taylor Heinrich is Director of MBA Admissions at Georgetown University’s McDonough School of Business leading the marketing and communications team. Shelly has spent ten years in the higher education, non-profit, and corporate sectors. Her responsibilities have included marketing, recruitment, admissions, business development, event planning, and career services. Prior to Georgetown, she worked in MBA Admissions at the George Washington University School of Business. She also brings experience from The University of Texas at Austin McCombs School of Business and the Syracuse University Whitman School of Management.

For more information please see the TIME article.


MBA 留学 ニュース: MBA in Crisis?

But some experts are starting to wonder whether the end is coming for business schools. Now it looks like a new subset of Wall Street is turning away from the MBA tradition.

Private equity firms such as Chicago-based GTCR, are backing off on the tradition of requiring employees to attend business school after several years of work, reports The Wall Street Journal's Ryan Dezember and Lindsay Gellman.

That firm is joining Apollo Global Management, Silver Lake, KKR, and Blackstone Group, all of which reportedly have lessened requirements on employees to earn MBAs.

Blackstone chief executive Steve Schwarzman said that niceness is a requirement for his employees — sometimes more so than holding an MBA degree.

Here are some other reasons why business school might be losing its prestige:
The number of people enrolled to write the GMAT — an exam required for business school applications — was steadily dropping for several consecutive years. And while, in 2014, applications for full-time, two-year MBA programs were up slightly, the majority of applicants came from overseas, according to the Graduate Management Admission Council.
Tuition is expensive — like more than $60,000 a year at Harvard, not counting fees or living expenses — and it's continually on the rise.
Some experts suggest it's wiser to go for a Chartered Financial Analyst, or CFA, credential instead. (All three levels of the CFA exam are being held around the world on Saturday, and more people are registered to take the test than ever before.)
Curt Welling, a senior fellow at the Tuck School of Business, one of the best business schools in the country, thinks that online courses and a growing demand for international business schools could seriously damage established MBA programs. He says the MBA industry is "in a bit of a crisis," and business schools need to think about how to remain relevant.
There's one reason why the MBA will never totally lose its popularity on Wall Street.

For more, see The Business Insider

MBA 留学 ニュース: Indian School of Business Class of 2016

The Indian School of Business (ISB) has shared details about the students in its current Post Graduate Program in Management (PGP) class.

There are 813 students in ISB’s PRG Class of 2016 and there are 560 students at its Hyderabad campus and 253 students at its Mohali campus. 

Of those, 236 are women. While this is the highest number of women in absolute terms so far in the school’s history, it represents 29 percent of the overall class, down slightly from 30 percent last year.

In terms of professional background, the entering class is highly diverse. Incoming students have worked in China, Russia, Sri Lanka, Singapore, the United States, Nepal, the United Arab Emirates, Australia, the United Kingdom, Chile, Mexico and many European countries. 

Several students hold doctoral degrees in biochemistry, biotechnology and biomedical science, and 18 have filed or received one or more patents, the school reports. The Class of 2016 also boasts the first-ever women from Sri Lanka and Russia, as well as nationally-ranked badminton, tennis and cricket players.

The average work experience for incoming PGP students dipped slightly this year, to 4.7 years, down from 5 years in each of the six previous entering classes. The average GMAT score for incoming students has remained constant at 700.
The Class of 2016 is the 15th class to enroll in ISB’s one-year PGP. The school’s network of alumni has now grown to more than 7,600 across a range of industries.

For more information, please see the Program in Management (PGP) class profile. 


MBA 留学 ニュース: コロンビア大学ビジネススクール 2015-16 Essays

Columbia Business School (CBS) Admissions Director Amanda Carlson turned first to the school’s first essay prompt—the “career goals/why a Columbia MBA now” question.
“Through your resume and recommendations, we have a clear sense of your professional path to date. What are your career goals going forward, and how will the Columbia MBA help you achieve them?”
Like last year, applicants this year are given 500 words to map out their career goals and explain how a Columbia MBA fits into achieving them. A slight modification to the first sentence, though, suggests that applicants leave out any synopsis of their work history to date.
As Carlson herself points out, her team has included a career goals/why MBA question or some variation thereof at least since she joined in 2002—and likely longer. It’s important enough to appear again and again not only because it gives the admissions committee useful insight into what the applicant hopes to get out of business school, but also because it forces candidates to really think about their goals long and hard before they arrive on campus.
Like Sand in an Hour Glass
Depending on which program they enroll in—CBS features an accelerated program that begins in January, as well as its regular full-time MBA—students at Columbia are in school for 16 to 20 months. In talking to prospective applicants, Carlson likens that time to sand in an hourglass. “As soon as you turn that hourglass over, your time is limited and it runs out really quickly,” she cautions.
Columbia’s location in New York City—and all of the extra opportunities that affords—only amplifies the effect. This first essay prompt is designed to help make sure students are focused and can maximize all that business school in general, and Columbia in particular, has to offer.
“If students come and haven’t narrowed what they want to focus on, they may miss many of the opportunities here at their fingertips,” she says. “We feel responsible and want to ensure that candidates are super prepared when they walk into Uris Hall.”
Candidates Considering a Range of Careers
What if you’re considering more than one potential career path? “It is completely fair for candidates to say they may be exploring a few options,” Carlson says. The application actually provides two places for candidates to get at this answer, beginning with the short-answer question that invites them to share their immediate post-MBA career goal. “For this one we clearly want people to be concise and focused,” Carlson notes. Indeed, since the form field will only allow submissions of 50 characters or fewer.
The career goals essay, in contrast, offers candidates a full 500 words to describe how their short- and long-term goals fit together, and why Columbia is uniquely suited to helping them achieve those goals. “If someone wants to add a little bit of color and explanation, this is the place to do it,” Carlson says.
In other words, you can hint at more than one potential career path, but to stay within the word count and tell a compelling story—while also focusing enough in advance to make the most of your limited time at school—you’ll do well to narrow things down from the very start.
“No One at Graduation Checks the Admissions Essay”
Of course, there will still be time to refine your chosen career path after application essays are a distant memory. “No one at graduation checks the admissions essay to say, ‘You said you would do x, y or z,’” Carlson reassures. “It’s natural to be inspired by a professor, by your classmates, by the experiences you have in business school,” she continues. That’s part of the reason for going to business school, after all.
As part of its second essay, Carlson and her team want to know how a candidate will take advantage of Columbia’s location “at the very center of business.” More than that, they want candidates to provide examples of how they will seize the unique opportunities the school presents—such as its Master Classes, internships, New York Immersion Seminars and access to world-renowned faculty and practitioners—to bridge theory and practice.
Answering this question fully requires in-depth knowledge of the school’s unique offerings. So, what’s the best way of obtaining this knowledge? Is it through visiting campus? Talking to current students? Sitting in on a class?
“All of the above, of course,” Carlson responds cheerfully. Fortunately, she follows up with some specifics. “We have a group of students called the Hermes Society who volunteer their time to speak with prospective applicants about Columbia,” she offers as a first step, noting that contact information is readily available on the CBS website. “That’s a great way to reach current students and learn what their experiences have been.”
Also, since Columbia’s J-term students take classes for 16 months straight beginning in January, class visits are available even during the summer months. “We find that it’s a really nice benefit for prospective students to have that opportunity over the summer,” Carlson says.
For applicants who are specifically interested in learning more about the unique J-term program, Carlson and team will host a special event on July 16th called “Spotlight on January.” As part of a robust day of programming, participants will learn just what the J-term entails, as well as how it can be a really good choice for someone who is company sponsored, part of a family business or looking to make a slight change in their career, for example.
columbiaIf You Can’t Visit
Acknowledging that some applicants simply can’t make the trip to New York to visit the CBS campus in person, Carlson’s team has hosted dozens of webinars in the past year, some with an academic focus, others spotlighting leadership opportunities or other aspects of the school’s community. She hopes for even more in the year ahead.
Lastly, the team is finalizing its summer and fall recruiting plans and will soon post dates and locations in the United States and internationally where prospective applicant can meet the admissions staff and learn more about the school.
“Any and all of those ways would be really helpful in terms of helping folks learn a little more about what student life is like at Columbia and how they can take advantage of “being at the very center of business.’” Carlson says.
“CBS Matters”
“I am so excited to talk about this,” Carlson says of Essay 3. This essay prompt builds on a question Columbia has been asking for the past couple of years—one that invites candidates to share something about themselves they think will be pleasantly surprising to their future Clustermates.
In fact, an entire program has grown up around the very practice of CBS students sharing little-known aspects of who they are with fellow CBS students. Called CBS Matters, the program was founded a few years ago by one of the school’s alumni, and now it has become an institution in and of itself, Carlson says. This year, the essay prompt includes a link to a video showcasing the program, in which current students share a story or stories about themselves with their fellow classmates. The program is voluntary, but most students choose to participate, says Carlson, sharing their thoughts, aspects of their background, really whatever matters most to them, in a somewhat public forum. (CBS Matters presentations can be delivered to a student’s Cluster or to the entire school.)
“This program has been incredible in helping students foster deeper relationships,” Carlson says. “And when they get to learn about what really drives people—what motivates them most—very often classmates want to help,” she says. “CBS Matters really creates bonds that last longer than just the two years students spend here.”
By interweaving the CBS Matters program into the actual essay question this year, Carlson and team hope to help prospective applicants move beyond a merely hypothetical question and envision themselves actually delivering their own CBS Matters one day.
In terms of what to choose, Carlson encourages prospective applicants, if they want, to take this opportunity to share something personal that doesn’t necessarily relate to their career goals. Beyond that, to gauge the effectiveness of a topic you are considering, she suggests trying it out on two audiences, one person who knows you very well and one person who doesn’t know you at all. If it speaks to them both, that’s a good sign.
Is Imitation the Highest Form of Flattery?
We mentioned that there are some similarities between Columbia’s Essay 3 and Harvard Business School’s newest essay question, revealed earlier this month, in which applicants are invited to introduce themselves to the members of their future section. Carlson was surprised to hear it and seemed quite sure that any overlap was unintentional. Overlap, though, is not surprising, given that schools are looking for similar traits in candidates, she adds. “At Columbia, we ask this question because it is just such a great opportunity to get to know more about something that doesn’t relate to the candidate’s professional goals.”
Parting Advice
“Have fun with it!” Carlson says when asked for one last piece of advice she’d give to candidates before sitting down to write their essays. “I really encourage them to look at this as a ‘glass is half full’ process—in other words, we are looking for reasons to admit people, not the other way around.”

Friday, May 15, 2015

MBA 留学 ニュース: UCLA アンダーソン・スクール Receives $100 Million

UCLA's Anderson School of Management will receive $100-million donation from the widow of its namesake, businessman John Anderson.

Marion Anderson made the donation as the UCLA business school has become mainly self-supporting; it no longer receives state funds for master's degree programs and relies more heavily on donors.

The gift will be split: $60 million will establish an endowment for financial aid, faculty stipends and research, and the remaining $40 million will go toward about half the cost of a new building projected to be built next door to the current complex.


It is important to have the best faculty we can possibly have and to give our students the best education they can have.
- Marion Anderson

The Anderson gift, among the largest donations in UCLA history, will also help with UCLA's campaign to raise $4.2 billion by 2019, the centennial of the university's founding. With the new gift, UCLA has received about $1.9 billion in donations and pledges.


For more information see the article in the LA Times 

Friday, May 8, 2015

MBA 留学 ニュース:コロンビア大学ビジネススクール 2016-17 締め切り/ Essays

Don’t worry—if you’re applying to Harvard Business School (HBS) in Round 3, you haven’t missed the deadline. It’s next week, May 13th. But the school’s admissions committee is already thinking about the Class of 2018, according to a recent post by Director of Admissions Dee Leopold.
If you are a prospective applicant also thinking about the Class of 2018 at HBS, some words of advice from Leopold: “I would encourage any potential Round One applicant who would like to see the case method in action to come now since class visits in the fall don’t begin until after the September deadline.” Class visits continue through mid-May, and there is still sign up availability, she notes.
The schedule for on-campus information sessions will change to every Monday and Friday at 2 p.m. beginning on May 8th. These sessions, conducted by members of the admissions team, do not require advance notice. Campus tours will also be offered, beginning on May 8th, at 1:15 p.m. every Monday and Friday. No advance notice is required for these either.
For those of you dying to get started on your essays, HBS will post next season’s questions on May 15th. Recommender questions will post the same day. The complete application will go live in mid-June, and the Round One application deadline will be September 9th.
Learn more about scheduling a class visit at HBS.

MBA 留学 ニュース:コロンビア大学ビジネススクール 2016-17 締め切り/ Essays

Columbia Business School has announced its deadlines for the 2016-17 for its accelerated January term (students forego a summer internship and study for 16 straight months beginning in January) and its early decision round will be October 7. The regular decision deadline will be April 13.

Columbia Business School students may enroll in either August or January. The two paths, each comprised of four terms, merge in the fall of the second year to complete electives as a single class.
The paths are identical in terms of competitiveness of admissions, academic rigor, and student resources, but they differ in terms of timing and the opportunity to complete a summer internship.


CBS Essays

Essay 1: Why MBA (500 words)
Essay 2: How you will take advantage of being “at the very center of business." 250 words.

For more information, please see the CBS Application website

MBA 留学 ニュース:ウォートン・スクール 2016-17 締め切り

Wharton has released deadlines for 2016-17
Round 1: September 29
Decision: December 17
Round 2: January 5
Decision: March 29
Round 3: March 30
Decision: May 3rd.

The advice from Wharton is to apply early if possible.

“The first two rounds have no significant difference in the level of rigor; the third round is more competitive, as we will have already selected a good portion of the class.”

For more information, please see Wharton's Admissions website.

MBA 留学 ニュース:スタンフォード大学ビジネススクール2016-17 締め切り

Stanford Graduate School of Business  has announced 2016-17 deadlines and
essay questions
Stanford Deadlines
Round 1: September 22 (nine days earlier than last year than this year)
Decision notification:  December 9.
Round 2: January 12
Decision notification:  March 30th.
Round 3: April 5
Decision notification: May 11

Essay Questions
Unchanged but with an increased word count to 1,150.
What Matters Most: 750 words
Why Stanford:  400 words
The school strongly advises applicants to apply in R1.

For more details see the Stanford GSB Admissions website

Monday, May 4, 2015

MBA 留学 ニュース: Columbia Business School Dean Criticises B-School Rankings Methodology

Columbia Business School (CBS) Dean Glenn Hubbard has questioned MBA school rankings. He believes an applicant’s individual needs should outrank any number affixed to a school in the many rankings that abound.

The quality of a business school can be measured by two simple metrics, input and output. By input he means applications, specifically how many applications a school gets and whether application volume is trending up or down. 

As for output, the second critical metric is job offers and salary levels of graduates. 

In this respect, the aggregate difference between schools in the top five or 10 can be slight. That means that, while rankings matter, if you are thinking about applying to business school, the question is whether the rankings matter for you. 

Hubbard called it human nature to apply to a school because it gets ranked highly, likening it to seeing a movie or buying a book after it wins an award. “We want to experience the best,” he wrote. But regardless of ranking, depending on your own needs and goals, some schools will be better for you individually than others. “You owe it to yourself to do your homework on a school’s academic curriculum, career management efforts, alumni network, and ability to put you in front of leaders who are shaping business today.”

For more information see “Do B-School Rankings Really Matter?”

MBA 留学 ニュース: IE Ties Up with Antai College

IE Business School will offer dual degrees to students of Antai College of Economics and Management.

Antai College, a leading business school in China and part of Shanghai’s Jiao Tong University, hold accreditation from each EQUIS, AMBA and AACSB. 

Antai College Dean Lin Zhou joined IE Dean Santiago Íñiguez de Onzoño for a signing ceremony at IE’s campus in Madrid on March 26th.

Students in IE Business School’s International MBA program can take a dual degree program with the Antai College of Economics and Management and vice versa. A dual-degree program is also available students in IE’s Master in Management and Antai’s Master in International Business program. In either instance, students will be able to complete both degree titles in two years, instead of the three years it would take to complete the degrees separately.

The University of Virginia’s Darden School of Business has also launched a new Asia Initiative at Darden, to include opening a new office in Shanghai and partnering with Antai College of Economics and Management on an upcoming investing summit.

IESE Business School partnered with the China Europe International Business School (CEIBS) to launch a new joint program targeting senior business leaders whose work crosses international borders. 

Last fall, CIEBS partnered with the School of Hotel Administration at Cornell University to launch a new dual Master of Management in Hospitality (MMH) and MBA degree program and the NYU Stern School of Business Volatility Institute opened an extension at NYU Shanghai.





Saturday, April 4, 2015

MBA 留学 ニュース:南カリフォルニア大学 USC Marshall M Debuts Online MBA Program

The Marshall School of Business at the University of Southern California will roll out a new 21-month online MBA program fall 2015, featuring a curriculum designed specifically for the online learning environment. 

The new program will take a close look at emerging business topics of particular relevance to online business, such as internet analytics, social media, virtual teams and entrepreneurial thinking. The cost of tuition is slated at $93,502.

The curriculum was developed specifically for online delivery – this is not just a regurgitation of traditional in-classroom content slapped up online, 

Marshall’s faculty will lead the courses, and their weekly synchronous seminars will be viewed by students via webcam. The online MBA will also feature a one-time, one-week, on-campus event.

These synchronous elements will be complemented by online coursework that students can complete in their own time, according to their own schedules. 

Live action cases, interactive exercises and virtual teams are all elements of the online program designed to drive interactivity. Students in the new online MBA program also will be able to take classes in online programs at other USC schools and enroll in additional online courses from Marshall MS programs in entrepreneurship, marketing and global supply chain management.

The school will partner with All Campus, a creative agency and enrollment services firm, to help support both the program’s launch and its continuous growth.




MBA 留学 ニュース:HEC Paris unveils its first entrepreneurship barometer

HEC Paris released the results of its first entrepreneurship barometer, a survey of a representative panel of 8,500 alumni from all HEC programs (Master in Management, MSc, MBA and Executive MBA). The survey compares the entrepreneurial drive of its most recent graduates, in comparison with those who left the school 10 years ago. 

The results of this survey confirm the boom in entrepreneurship on campus, as 25% of all HEC graduates are now entrepreneurs, up from 9% ten years ago.

The barometer reveals three main trends:

The desire to start a business is rapidly growing. Among HEC Master’s students, entrepreneurship is booming: almost 20% of them have started their own business, three times the national average in France. ·        

HEC entrepreneurs are value creators in France. 84% of businesses are founded in France, creating jobs and generating growth for the country.

The businesses started by HEC graduates from very diverse sectors have sound, sustainable business models, often benefiting from the support of Business Angels or venture capitalists. 

Entrepreneurship has always been one of the strategic priorities of HEC Paris. Throughout the years it has taken various forms: innovative teaching methods (with flagship programs such as HEC entrepreneurs and Challenge+), research, support and coaching, awareness campaigns on campus, facilities such as the HEC Incubator or the e-Lab, etc.


MBA 留学 ニュース:コロンビア大学ビジネススクール Gears Up for J-Term Applications

Columbia Business School  J-Term compresses the two year MBA program into 16 months. 

Beginning in January, candidates study straight through the summer, eschewing the the summer internship. 

The J-Term application will launch on April 23, 2015, and the deadline for submissions is October 7, 2015. For those looking to learn more about the J-Term, CBS will host a virtual information session on April 22, 2015. There will also be an on-campus J-Term information session in July 2015, although an exact date and registration information has not yet been posted.

MBA 留学 ニュース:UVA’s Darden School of Business Launches New Asia Initiative

The University of Virginia’s Darden School of Business earlier this month announced its strategic Asia Initiative at Darden, part of the school’s continuing investment in globalization.

The initiative will try to advance the understanding of the dynamics of Asian markets as a critical component of business education. It's also to try to attract more students. 

The Asia Initiative has a three-year charter, but the school hopes to expand it into a lasting research center to complement the work of Darden’s existing research Centers of Excellence, such as its Center for Global Initiatives.

The University of Virginia celebrated the opening of its new office in Shanghai on March 6th and 7th, hosting a conference on Chinese urbanization. Dean Bruner and other leading officials from Darden then traveled to India to meet with academic and corporate partners.

Later this spring, on May 8th, the Darden School will partner with Shanghai Jiao Tong University’s Antai College of Economics and Management to host the Shanghai Investing Summit, which will examine the latest trends and opportunities in cross-border investing.

For more, please see the New Asia Initiative

Friday, March 13, 2015

MBA ニュース:スタンフォード大学ビジネススクール No.1 in U.S. News & World Report rankings

Stanford’s Graduate School of Business edged out Harvard Business School (HBS) to second and the University of Pennsylvania’s Wharton School to third in U.S. News & World Report rankings of the nation’s best MBA programs. Last year, the three schools tied for first place.

U.S. News focuses on quality assessments by deans and MBA directors at peer schools and corporate recruiter survey scores. Wharton’s scores slipped in both these regards, as well as in average pay for its MBA graduates.

Stanford's average GMAT/GRE scores stood at 732, the average undergraduate GPA was 3.75 and had an acceptance rate of just 7.1 percent, it was by far the most selective school of all those ranked, with HBS accepting 11 percent and Wharton, 20.7 percent.

Average salary and bonus, another core metric employed by U.S. News, varied very little among the top 10 schools. In terms of salary the ranking was

1. HBS: $144,750
2. MIT: $142,936
3. Stanford: $142,834. 
4. Wharton, at $142,574
5. Dartmouth College’s Tuck: $142,489 (and #9 overall)

The top 10 MBA programs as ranked by U.S. News & World Report for 2016 are as follows:
1. Stanford Graduate School of Business
2. Harvard Business School
3. University of Pennsylvania Wharton School
4. University of Chicago Booth School of Business
5. MIT Sloan School of Management
6. Northwestern University’s Kellogg School of Management
7. UC Berkeley’s Haas School of Business
8. Columbia Business School
9. Dartmouth College’s Tuck School of Business
10. University of Virginia’s Darden School of Business

Please see the full 2016 U.S. News & World Report MBA Rankings for more information. 

MBA ニュース:ウォートン Names Frank DeVecchis as Director of Admissions

Frank DeVecchis will become the University of Pennsylvania’s Wharton School has named a new director of admissions, working closely with existing Deputy Vice Dean of Wharton MBA Admissions, Financial Aid and Career Services Maryellen Reilly Lamb to oversee the entire application process, from recruitment through matriculation.

DeVecchis recently served most recently as director of MBA Academic Operations and successfully implemented Wharton’s new Course Match course registration program. He also advised more than 800 students during his tenure as the senior member of the MBA academic advising team and helped plan and implement Wharton’s three-week orientation for incoming students.

DeVecchis will help develop strategic recruiting plans for Wharton’s global applicant pool, manage the MBA Admissions team and play an active role in evaluating applications and selecting candidates for admissions.

Lamb has guided the MBA Admissions team since former admissions director Ankur Kumar stepped down in October 2013.

For more information, please see Wharton's MBA Program Office 

Thursday, March 5, 2015

MBA ニュース:Harvard University Appoints Jodi Goldstein New Managing Director of I-Lab

Harvard Business School (HBS) has appointed Jodi Goldstein, a long-time investor and entrepreneur, will become Harvard i-lab’s new Evans Family Foundation Managing Director this June.
Last year she spearheaded the Launch Lab, a business incubator for Harvard alumni, which is putting Allston, MA—where the i-lab is located—on the map as a solutions-centered hub swirling with interdisciplinary collaboration.
Goldstein has been a high-tech entrepreneur and investor for the past 15 years, with a focus on innovative consumer technologies. With industry expertise in consumer, e-commerce, mobile, social networking and luxury goods, she’s been on the management team of several venture-backed startups including iMarket (sold to D&B), Planetall (sold to Amazon for more than $100M), Send.com, Hoteluxury.com and Mobicious. 
Most recently, she was a co-founder of Drync, a mobile app for wine (a 2011 MassChallenge winner). She’s also an HBS alumna.
For more see the Harvard Innovation Lab press release. 

MBA ニュース:IESE Business School, China Europe International Business School Launch New World Executive MBA

Spain’s IESE Business School has partnered with the China Europe International Business School (CEIBS) to launch the World Executive MBA.

The new program will feature modules on CEIBS and IESE campuses across five continents. Modules are scheduled to take place in Shanghai, Shenzhen, Barcelona, New York, Munich, Silicon Valley, Sao Paulo and in strategic locations in India and Africa. 
To cater to executives from a variety of regions, the program format will be blended. Residential modules at CEIBS and IESE campuses will complement online modules. Both courses taught as part of the residential modules and those taught online will follow the case study method and will be taught by expert faculty from both schools.
IESE and CEIBS have been partners in a range of programs for 20 years, including a Global CEO Program, a Global CEO Program for China and a joint PhD.

For more information, see the World Executive MBA.

Tuesday, February 24, 2015

MBA ニュース: ウォートン・スクール Expands its Online MBA

Wharton School has expanded its online foundational MBA courses to now include a Business Foundations Specialization series that adds a capstone project in which participants can apply what they learn to help solve real-world business issues, the school announced last week. 

Wharton will invite top performers in the online series to apply to one of the school’s graduate programs, waiving the application fee, and will award up to five $20,000 scholarships to applicants who are admitted.

As with the initial four courses in Wharton’s Foundation Series – Accounting, Finance, Marketing and Operations Management – the new Capstone Project component is available through online education platform Coursera. Wharton was one of the first leading business schools to present the building blocks of its MBA curriculum in online form to a world audience.

The  Business Foundations Specialization series combines all four foundation courses, taught by Wharton faculty, with the newly added project component and confers a Coursera Verified Certificate for participants who complete the entire series. 

As part of the Capstone Project, participants work with industry partners to help solve a specific real-world problem. Snapdeal and Shazam have entered into initial partnerships with Wharton to provide Capstone project topics.

The cost of the entire series with a Verified Certificate is $595.

The top 50 performers each year in the Business Foundations Specialization series will be eligible to apply to one of Wharton’s graduate business programs without paying an application fee. Wharton will also award $20,000 scholarships to up to five students admitted to the MBA program who have excelled in the Specialization series in the previous 12 months.

For more information see Wharton Online

Tuesday, February 17, 2015

MBA Round 3/4/5 (Late Round) Deadlines

The following is a list of remaining late MBA Round deadlines:

Feb. 27: LBS R3
Mar. 03: IESE R3
Mar. 04: INSEAD
Mar. 11: Berkeley/Haas R3
Mar. 11: Cornell/Johnson R3
Mar. 13: Emory/Goizueta R4
Mar. 13: Oxford R4
Mar. 13: UNC/Kenan-Flagler R4
Mar. 15: CMU/Tepper R3
Mar. 15: NYU/Stern R4
Mar. 19: Duke/Fuqua R3
Mar. 23: Michigan/Ross R3
Mar. 24: UT McCombs R3
Mar. 26: Wharton R3
Apr. 01: Georgetown/McDonough R3
Apr. 01: Northwestern/Kellogg R3
Apr. 01: Stanford GSB R3
Apr. 01: Dartmouth/Tuck April Round
Apr. 01: UVA/Darden
Apr. 06: Harvard R3
Apr. 15: Columbia Regular Decision
Apr. 15: UCLA Anderson R3
Apr. 15: USC Marshall R3
Apr. 17: LBS R4
Apr. 23: Yale SOM R3
Apr. 24: Oxford R5
May 19: IESE R4
May 29: Oxford R6

While it’s always best to apply as early as possible, the difference between applying in Round 1 and applying in Round 2 is, for most applicants, a marginal one.  

However most of the seats in the incoming class will have been given away by the time Round 2 decisions are released, the acceptance rate in the third round is dramatically lower than that for the first two deadlines of the season.



エコノミスト:Top 10 Business School Alumni Networks

The Economist has listed the world's top-10 alumni networks. Nine of the top 10 strongest alumni networks are affiliated with U.S. schools. 

The best schools also tend to be old and big, this means keeping up to date on an awful lot of people. Harvard Business School, for example, has 44,500 registered MBA alumni.

The Tuck school at Dartmouth comes out top with its famously fierce collegiate spirit. 

For more information, please see the Economist. 


MBA ニュース:Georgetown, ESADE and SDA Bocconi School of Management Launch Global Advanced Management Program

Georgetown University’s McDonough School of Business, Madrid’s ESADE and Milan’s SDA Bocconi of Management have united to launch the Global Advanced Management Program (GAMP)m a new program designed to prepare senior executives to meet the demands of organizations.

The  program takes participants to three different continents. GAMP participants will meet for three one-week modules held every two months.

During the first module, at Georgetown McDonough in Washington, D.C., participants will look at the complex circumstances shaping the world today and their impact on business. 

Next, participants will convene in Asia, where the Antai College of Economics and Management (Jiao Tong University, Shanghai, China) will host a second module analyzing emerging global business models. 

The third and final module will take place at ESADE in Madrid and will help participants hone the leadership skills required at highly international companies.

GAMP gives participants a crash course in the real-time challenges facing leaders in the global marketplace. The format was also designed to help participants expand their network to include new countries and cultures.

GAMP will also feature several special components, such as a CEO Forum, a Wellness Plan and a Ground-field Exposure Lab.



MBA ニュース:シカゴ大学 ブース to Make Hong Kong’s Mount Davis Asia Executive MBA Hub

The University of Chicago Booth School of Business hopes to renovate Hong Kong’s historic Mount Davis site, once an artillery base, into a new intellectual hub to serve as home to the school’s Executive MBA Program in Asia.
“The center will allow us to engage even more effectively with the business and academic communities in Hong Kong,” Chicago Booth Dean Sunil Kumar said in a statement. “It will be a testament to our lasting commitment to educating leaders in the region.”

Originally a gun battery in the 1930s, Mount Davis became a mess hall and clubhouse for British officers after World War II and later a government detention center. Chicago Booth’s plans would involve adaptive reuse of some of the original structure and key architectural elements, such as fireplaces and arches, as proscribed by local conservation management guidelines. 

Building plans were submitted in January, and Town Planning approval is slated for June 2015. Pending approval and subsequent land grant execution, construction could start in August 2016, with occupancy anticipated for August 2018.

For more information see the Chicago Booth website

Monday, February 9, 2015

MBA ニュース:コーネル大学・ジョンソンスクール Upgrades Curriculum

Samuel Curtis Johnson Graduate School of Management at Cornell University is overhauling its curriculum which will roll out in the Class of 2016. 

In recent years The University of Pennsylvania’s Wharton School, Harvard Business School and Northwestern’s Kellogg School of Management have all revised their core curriculums. 

Cornell's changes are designed to place greater emphasis on collaboration, leadership and analytical skills. The curriculum redesign is the culmination of a comprehensive two-year review process the school launched in 2011. Through student and alumni focus groups, peer benchmarking and surveys of students, alumni, corporate recruiters, faculty and staff, the review process reached more than 1,000 participants from the last 12 MBA class years and identified three priority areas for redesigned coursework and programming.

Modeling and Decision Analysis: An enhanced required course, Data Analytics and Modeling, takes students beyond statistics, to data modeling and Big Data techniques and strategies. Modeling is woven into other courses to help students develop the analytical skills needed in all areas of business.

Personal and Leadership Skills: Every Johnson student progresses through a targeted curriculum in leadership consisting of the proprietary Johnson 360° Leadership Assessment, coursework, case exercises, teamwork, hands-on leadership experience, coaching, and customized programming. The personalized program begins in the pre-term, with individual assessment and feedback, and continues through the first year, with the Leading Teams Practicum, and second year with Principled Leadership. Marquee leadership instructors teach intensives on leadership topics. These classes are enriched with a menu of Leadership Skills workshops and Leadership Expeditions that span the entire program.

Integrative and Critical Thinking Skills: In their first semester of MBA study, students learn and practice critical thinking skills, with a focus on analyzing, integrating, and synthesizing information for optimal decision making, in the face of challenges, such as incomplete, inaccurate, or ambiguous information.

Among the innovative elective courses being introduced:

The Art of Innovation: A Design Thinking Immersion and Making Design Thinking Work. These hands-on courses prepare MBAs to be future innovators by teaching them the human-centered design methodology known as Design Thinking.

Core Leadership Skills for a VUCA (volatile, uncertain, complex, and ambiguous) World, with retired U.S. Army General George Casey. This course builds on the skills acquired in earlier components of the leadership program, through discussion and interaction with an experienced practitioner and former leader of the United States Army.

Johnson’s FinTech Trek and Hackathon. Students convene at Cornell Tech in New York City to learn about disruptive technologies facing the financial industry and develop relevant solutions. The experience culminates in a hackathon, in which participants have about 24 hours to develop financial products or services that meet a real business need. Similar classes are planned, each focusing on a different industry.







Wednesday, February 4, 2015

Foreign Policy: The Best International Relations Schools in the World

These are the results of the 2014 Ivory Tower survey—a collaboration between Foreign Policy and the Teaching, Research, and International Policy (TRIP) project at the College of William & Mary—provide an insider’s guide. 




Responses from 1,615 IR scholars drawn from 1,375 U.S. colleges and universities determined rankings for the leading Ph.D., terminal master’s, and undergraduate programs in IR. 

The scholars were asked to list the top five institutions in each category. The survey also quizzed respondents about recent historical events and future policy challenges.


For more information, please see Foreign Policy 

Saturday, January 31, 2015

Start-up costs for MBA graduates pay off

MBA entrepreneurial grads—specifically those who launched startups during or soon after business school— can expect to make as much as their peers who follow more traditional career paths not long out of school, according to survey data collected as part of the Financial Times’ 2015 business school rankings research.
Of the 7,800 MBA graduates from the world’s top 100 business schools who responded to the FT, 22 percent had launched a start-up. Within three years of graduation, the average annual income of these entrepreneurs was $134,000, compared to $132,000 across the entire sample, the FT reports.
A mere 5 percent of startup founders reported an annual salary of zero three years out, though the FT points out that survey respondents did have an option to not reveal their income level, so the data may not fully reflect the financial risk taking faced by entrepreneurial grads. That said, of the companies launched by survey participants, 84 percent did report still operating a full three years later.
In general, startups launched by MBA grads tend to fare better than those launched by non-MBAs. Citing the U.S. Bureau of Labor Statistics, the FT noted that roughly 60 percent of new businesses survive three years, far less than the findings of the FT survey and less still than reports from individual business schools. At MIT Sloan, for example, 36 percent of the 2011 MBA graduates started a business, and 86 percent of those were still operating three years later, according to the FT report.
“Of course,” say business school professors. Startups launched by MBA grads do better because their founders have prepared for challenges within the classroom, IESE Professor Pedro Nueno told the FT. “If someone is prepared they are more likely to be willing to take a lower salary or cut back to maintain cash flow,” he said. “They tend to manage better than somebody who just sees an idea and launches without too much analysis.”
Nueno has been tracking the start-up success of his MBA students for several years and has found that 80 percent of those who started companies were still in operation five years after graduation. The majority of startups launched by his students are small—solo ventures or businesses with just a few employees. Still, Nueno has found that they earn as much if not more than their peers who went to work for large corporations, the FT notes.
The FT’s MBA survey revealed that a gender gap exists within entrepreneurship among MBAs, with only 16 percent of female graduates reporting starting a company, compared to 24 percent of male grads. But, notes the FT, “this divide is little different to the wider world of start-ups, in which male founders are more common the female ones.”
Not all survey respondents went as far as to say that business school itself was helpful with the practical matters of launching a startup (30 percent said no) or securing financing (60% disagreed). Likewise, enthusiasm for the value of business school’s alumni networks in the startup launching process was lukewarm. A third disagreed with the statement that alumni helped start their business and more than half (55%) stated that alumni provided no help with fundraising.
Both the success of MBA graduate founders as compared to their classmates in traditional fields and the startup survival rates varied from business school to business school, with institutions ranked in the top five for entrepreneurship teaching faring the best. For example, entrepreneur MBA grads from top-ranked Stanford Graduate School of Business reported average salaries of $190,506 three years after graduation, compared with $170,433 for fellow graduates who didn’t launch businesses.
Despite these encouraging statistics, entrepreneurship is still pursued by relatively few within business education, the FT noted. Taken together, the survey findings suggest that just 8 percent of the 2011 MBA graduate community currently makes an income solely from entrepreneurial ventures.

For more information, please see the Financial Times 

Friday, January 30, 2015

GMAT Enhanced Score Report

The new GMAT Enhanced Score Report (ESR) provides test takers with a comprehensive set of post-exam diagnostics including rankings, response times, and a customized summary – to help evaluate strengths and weaknesses and provide additional insight into the skills tested within each GMAT section.

In addition to the usual section and total scores, test takers can discover how much time they spend on each question, compare their skill level with other test takers (from the past three years) and identify areas where they excel and where they need to improve.

Key Benefits include:

  • Overall section performance ranking
  • Sub-section ranking
  • Time management ranking
  • Percentage of questions answered correctly
  • Average response time
  • Ability to benchmark against other test takers from the past three years
  • Customized summary report for each section that assesses strengths and weaknesses

The ESR puts test-takers in control of their future study, preparation, and test-taking strategy, while helping you to evaluate and refine your GMAT test preparation programs. 

For more information, please see the GMAC site

Saturday, January 24, 2015

ハーバード・ビジネス・スクール Dean Fights to Keep MBA Relevant

Harvard Business School Dean Nitin Nohria admits the traditional elite U.S. MBA faces problems.  

1. MBAs are no longer essential for a career at Goldman Sachs or McKinsey & Co. 
2. $100,000 is seen as expensive.
3. The rise of Asian business schools poses another challenge. Many Asian students and successful entrepreneurs have opted to stay closer to home to hone their skills. Business schools have mushroomed in India and China, offering courses and networking opportunities that are more relevant to their home markets.
4. Top U.S. business schools have responded by introducing shorter and more specific business programs, and adding international business cases for study.

Harvard's Strategy: 
a) Expand in Asia. Harvard opened its first research center in Hong Kong 15 years ago. About 10% of our business cases then were international. Now it has eight research centers around the world, including Mumbai, Tokyo and Shanghai, and 60% of our cases are global cases. 
b) Attract Asian donors: aim to get 100 people who can give $1 million each to support the international activities of the school. I want to build a broad base. My dream will be 30%-40% of that group will be from Asia.
c) Tap into the explosive Asian market. Japanese students used to be 30 or 40, now down to to four to five. 
As for Greater China, our mix has shifted to mainland. Now a quarter of the students are from Hong Kong, and three quarters from China. It used to be the vast majority of Chinese students were from Hong Kong.
d) Increase financial aid. Tuition has been going up by 4%, and HBS is increasing financial aid, at a rate of almost 5%-7%. Almost 28% of HBS tuition is now given away as scholarship. Last year 50% of students receive some forms of financial aid. Twenty years ago it was almost impossible to imagine.
e) Demand for 2-year MBA programs has declined 20% from year 2000.

For the full article see WSJ