Stanford GBS Increases MBA Tuition

Stanford Graduate School of Business (GSB) is boosting its tuition cost from $57,300 to $59,534 for the incoming class of 2013-14 bringing the cost for an MBA program rising to around $185,530 for a single student living on campus.

A student living off campus with a spouse or partner will pay more than $220,000. These figures do not take into account required study trips as part of the program, which can cost up to $4,000.

The average scholarship (free money not loans) to entering MBAs this year was $25,562 and 50 percent of students got some amount of money according to Madhav Rajan, a senior associate dean who heads the Stanford MBA program.

Tuition at Harvard Business School is currently $53,500 per year, and the total cost for a single student to complete the two-year program is $174,400. At the University of Pennsylvania’s Wharton School, meanwhile, tuition and fees for per year are $62,034, with total costs for the two-year program coming in at $184,000.

Source:  BusinessWeek

Wharton School, Lauder Institute Offer Dual-Degree Global Program for Multilingual Students

The University of Pennsylvania’s Lauder Institute, together with the Wharton School, will train MBA/MAs in politics, economics, business and culture as part of a new dual-degree Global Program, according to Wharton Magazine.

The new Global Program is like a “startup” within the Lauder Institute, according to Wharton Magazine. Students will study still-evolving aspects of the global political and economic system, such as international capital flows, the rise of sovereign wealth funds and China’s emerging dominance.

Professor Regina Abrami will direct the new program, which admitted its first three students as part of Round 1 of Wharton’s MBA admissions. With Round 2 now underway, Abrami hopes for six to eight students to make up the first Global Program class, which will begin in May 2013.

Abrami came to Wharton and Lauder from Harvard Business School (HBS) and is now a senior lecturer in the political science department and a senior fellow in the management department as well as director of the new Global Program. At HBS, she also helped launch globally-focused initiatives, including a “Doing Business in China” elective course and HBS’s global immersion programming, through which 400 students participate in 11 country-specific immersions during the winter session.

The Global Program will include classes on intercultural negotiations, international trade and the international legal order, which will take the place of language classes Lauder students take as part of that school’s other tracks. Global Program students must be proficient in two languages.

Source: Wharton Magazine

Harvard Business School Regains Number One Spot in Financial Times 2013 MBA Ranking

Harvard Business School (HBS) topped the Financial Times (FT) MBA rankings for the first time in 8 years, displacing Stanford Graduate Business School, which held the top spot last year!

The ranking also shows signs of stopping its reverse bias against other media rankings. For example U.S. media rankings tend to favor U.S. B-schools and ignore the rest of the world. The FT and The Economist, despite many failings in their own rankings methodologies, tried to address this balance, probably in search of advertising cash. 

The FT said the reason why Harvard was back in flavor was that the new dean and international perspective of Dean Nitin Nohria, who is the first Harvard dean born outside North America.

Canadian and European business schools are falling in the rankings as Asian schools move up. The top 100 MBA schools include 10 from Asia this year, the most ever. 

Among European schools, business schools in the United Kingdom have slipped the most. 

London Business School has ranked in the top five for the past decade and Cambridge’s Judge School moved up  10 spots this year to number 16, five U.K schools fell out of the top 100 completely. 

Overall, 11 U.K. schools made the rankings, down from 18 in 2009.

The top 10 global MBA programs in 2013 as ranked by the FT are as follow:

1           Harvard Business School

2           Stanford Graduate School of Business

3           Wharton School at the University of Pennsylvania

4           London Business School

5           Columbia Business School

6           INSEAD

7           IESE Business School

8           Hong Kong UST Business School

9           MIT Sloan School of Management

10         University of Chicago Booth School of Business

Source:  Financial Times  

GMAC Survey of MBA Alumni Reveals Strengthening Job Market

The Graduate Management Admissions Council (GMAC) annual Alumni Perspectives Survey, released this week, found that 92% of last year’s graduates were working within three months of completing their MBA, up from 86% of graduates from the Class of 2011 surveyed at the same time the year before.

More than 800 MBA and other graduate-level alumni responded to this year’s survey; 77% said their starting salary met or exceeded their expectations and 76% said that were it not for their graduate management degree, they would not have gotten their job.

Source: GMAC

INSEAD Dean to Quit March 1

Following ill health, Dipak Jain will quit dean of INSEAD as of March 1st, retaining a role as marketing professor at the international business school with campuses in France, Singapore and Abu Dhabi.

Two of INSEAD’s three deputy deans, Ilian Mihov and Peter Zemsky, will act as interim deans until a permanent appointment is made, a process that could take up to a year.

Jain was appointed INSEAD dean just two years ago, in March 2011, replacing outgoing dean Frank Brown. Prior to his INSEAD appointment, Jain served for a decade as dean of the Kellogg School of Management at Northwestern University after building an illustrious career as a professor in that school’s marketing department. 

INSEAD had hoped that Jain, who was credited with helping expand Kellogg’s international reach, would help INSEAD further strengthen its global presence and attract more students from the developing world.

Source: Financial Times

Georgetown McDonough Names New MBA Admissions Dean

The McDonough School of Business at Georgetown University has named Shari Hubert as new associate dean of MBA admissions. 

She most recently served as director of recruitment for the Peace Corps, where she led the recruitment of 4,000 volunteers annually and managed the operations of nine regional recruitment offices across the United States.

Prior to that, she worked as senior vice president of campus recruitment for Citi’s Global Bank in North America, leading the recruitment of analysts and associates for Citi’s Markets & Banking Division.

Hubert holds an MBA from Harvard Business School and also managed campus recruiting for GE.

Source: McDonough School of Business at Georgetown University

Myth vs Fact for Chicago Booth

Associate Director of Admissions Joanne Legler devoted a recent post on the Booth Insider Blog to debunking some common myths about the admissions process:

Myth 1: A campus visit is a must if you expect to be admitted.
Myth 2 : You must have a minimum GPA or GMAT/GRE score and have five years of work experience to be considered for admission.
Myth 3 : An interview with a staff member is different than an interview with a student or graduate.
Myth 4 : A letter of recommendation from the CEO of my company/Booth graduate I met once/the governor/the President of the United States would be an amazing addition to my application.
Myth 5 : It's impossible to be admitted during Round Three.

For more details, see the Booth Insider Blog