Category Archives: General

4 Key Career Benefits From MBA Programs

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com Business school graduates benefit not only from a solid return on investment through substantial salary increases, but also by deepening the knowledge, skills …

career benefits of MBA

In one survey, 96 percent of employers said hiring business school graduates creates value for their companies.

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com

Business school graduates benefit not only from a solid return on investment through substantial salary increases, but also by deepening the knowledge, skills and abilities they will need for future professional success.

Here are just four of the key career benefits MBA programs can offer.

1. Transferable skills: Business school gives you new skills and knowledge that will turbocharge your career. While MBA students often set their sights on a job in finance or consulting, the hard and soft skills acquired during an MBA program are transferable to myriad other roles. Today, you’ll find an increasing number of MBAs working in tech, health care, consumer goods, government and nonprofits, and many other industries.

The skills typically strengthened during an MBA – leadership, intellectual creativity, analysis and critical thinking, cross-cultural awareness, communication, even greater IT mastery – will serve you well as you find your way toward your ultimate career goal.

You may start out at a financial firm such as Morgan Stanley and learn a tremendous amount about banking and analysis before deciding that it’s not a good fit, as happened with my client, May. She built upon those skills when she eventually became involved with running a business as a gourmet food importer. Once you have a deeper understanding of the complexities of the business world, those problem-solving skills mastered during your MBA will carry over to your next position, and the one after that, too.

2. Higher employment rates: Having an MBA is a powerful tool that can increase job security with your current employer or within your current industry. When the Graduate Management Admission Council released its latest annual poll of employers, it forecasted robust 2016 hiring that reflects high demand for MBA graduates. A whopping 96 percent of responding employers agreed that hiring business school graduates creates value for their companies.

The MBA degree is also a powerful differentiator in a crowded marketplace. Recruiters have said that some of their corporate clients will not consider any candidate without an MBA, which shows just how much business leaders value this qualification. Employers believe it vets potential hires; you can safely assume an MBA graduate from Harvard Business School or the Wharton School at University of Pennsylvania is going to bring considerable skills and business acumen to the job from day one.

Without a doubt, companies appreciate managers who have risen through the ranks, know the business inside and out and can get the job done. But they also like hiring MBAs for their ability to handle complex situations, be nimble and adapt in the face of a rapidly changing global environment. As outsiders, MBA hires can provide a broad or fresh perspective to see how to improve inefficiencies or come up with innovative solutions to business problems.

3. Degree specializations: Most MBA programs offer specializations or concentrations that allow you to do a deep dive into the nuances of a particular industry. These courses provide students with an opportunity to sample a few different industries or career paths to see whether it’s a good fit before taking the plunge.

Adding a concentration to an MBA is a good move for people who know exactly what they want to do with their career and who want to build a stronger skill base in that area. If you already know that you’re interested in something really specific, such as digital marketing, real estate, business analytics, social innovation, health care and so forth, earning an MBA with a concentration can make you even more marketable.

In today’s competitive job market, listing a concentration on your resume helps you stand out. However, if you are a career switcher and still testing the waters, you would be better off focusing on a general business education instead.

4. Networking opportunities: At business school, you’ll interact closely with talented individuals from all over the globe, which enhances the experience by exposing you to different business practices, cultures and points of view.

The connections you make are, for many, the single most valuable aspect of the MBA, so make sure you capitalize on the opportunities in and out of the classroom during your MBA studies. Your alumni network helps you stay connected to the university as well as to countless professional opportunities you can tap into throughout your career.

While the quality of the education at the most elite programs is guaranteed across the board, when you’re spending two years of your life and paying more than $100,000, it’s the network of contacts you build that make your MBA experience truly priceless.

Image credit: e3Learning  (CC BY-ND 2.0)

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Chicago Booth Alum Gifts $10M for Veteran MBA Scholarships

Military veterans seeking an MBA degree at the University of Chicago Booth School of Business will have a significant leg up, thanks to the $10 million gift from alumnus Eric Gleacher to fund a groundbreaking scholarship …

MBA scholarships for veterans

Military veterans seeking an MBA degree at the University of Chicago Booth School of Business will have a significant leg up, thanks to the $10 million gift from alumnus Eric Gleacher to fund a groundbreaking scholarship program for U.S. veterans.

The Gleacher Veteran Scholars Fund will provide a permanent source of scholarship support to help veterans bridge the gap between the benefits they have earned from the government and the remaining costs associated with receiving their MBA degrees from Booth.

The number of veteran students in Booth’s programs has increased substantially over the past several years, and currently, there are 78 veterans enrolled.

The Marines taught me a great deal about leadership, which is crucial to the success of every business.  A Booth MBA can inspire veteran students as future business leaders, preparing them for successful careers as entrepreneurs and executives in major companies.

“It was a winning combination, and I want to make it possible for those who have served our country to have the same opportunity,” Gleacher said.

Booth has built a reputation for providing veteran support through participation in the Yellow Ribbon Program, a voluntary program that allows universities to enter into an agreement with the U.S. Department of Veterans Affairs to fund tuition and fee expenses that exceed the established thresholds under the Post 9/11 GI Bill.

The Gleacher Veteran Scholars Fund will allow Booth to sustain and expand its financial support for veterans.

“Military veterans bring a great deal to the Chicago Booth community in terms of their experience, commitment to service, and maturity. I’m delighted we have significantly increased the number of veterans in our programs,” said Sunil Kumar, Booth Dean and George Pratt Shultz Professor of Operations Management.

“Eric’s gift will make pursuing an MBA at Booth significantly more affordable for many of these veterans, and thus will have a substantially positive impact on the Booth community as a whole.”

To learn more about Gleacher’s gift, please click here.

Photo by: Mackenzie Stroh for Chicago Booth School of Business

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INSEAD Deadlines for September 2017, January 2018 Intakes

INSEAD has posted the MBA application deadlines for the September 2017 and January 2018 intakes. They are as follows: September 2017 Intake (Class of July 2018) Round 1 Deadline: September 21, 2016 Interview Decision Notification: …

INSEAD mba application deadlines

INSEAD has posted the MBA application deadlines for the September 2017 and January 2018 intakes. They are as follows:

September 2017 Intake (Class of July 2018)

Round 1

Deadline: September 21, 2016
Interview Decision Notification: October 21, 2016
Final Decision Notification: November 25, 2016

Round 2

Deadline: November 30, 2016
Interview Decision Notification: January 13, 2017
Final Decision Notification: February 17, 2017

Round 3

Deadline: January 25, 2017
Interview Decision Notification: February 24, 2017
Final Decision Notification: March 31, 2017

Round 4

Deadline: March 1, 2017
Interview Decision Notification: April 7, 2017
Final Decision Notification: May 12, 2017

January 2018 Intake (Class of December 2018)

Round 1

Deadline: March 15, 2017
Interview Decision Notification: April 21, 2017
Final Decision Notification: May 24, 2017

Round 2

Deadline: May 3, 2017
Interview Decision Notification: June 2, 2017
Final Decision Notification: July 7, 2017

Round 3

Deadline: June 14, 2017
Interview Decision Notification: July 13, 2017
Final Decision Notification: September 8, 2017

Round 4

Deadline: July 26, 2017
Interview Decision Notification: August 26, 2017
Final Decision Notification: September 25, 2017

Applications must be completed and submitted by midnight French Time on the day of the deadline. For more information, please visit INSEAD’s admissions website.

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Deciding Which MBA Program is Right for You

Are you gearing up to apply for an MBA program this fall? I can’t stress enough how important it is to put significant thought into which programs you’re going to dedicate dozens of hours to …

where to apply

Are you gearing up to apply for an MBA program this fall? I can’t stress enough how important it is to put significant thought into which programs you’re going to dedicate dozens of hours to over the coming months, so here are just a few of the things you should be thinking about.

First and foremost, you should look beyond the MBA rankings and give serious consideration to your own preferences regarding teaching methods, curriculum flexibility, rural or urban setting, large or small program, general management approach or concentration-focused, as programs vary widely and the MBA is not a one-size-fits-all degree.

Many people wonder whether  they should pursue a general or specialized MBA. Personally, I feel that a general MBA prepares you better to be a business leader, because running a business involves an understanding of all aspects of the business. It also allows networking and an exchange of ideas with all different types of people with different backgrounds and goals.

Next, do your research to come up with a shortlist of business schools that meet those requirements, and then focus on how these programs can deliver on each of those attributes. Speak to alumni and current students at each school, and don’t forget to pick the brains of your mentors and colleagues who have MBAs to learn about their personal experiences.

Much of your list can be determined as you progress through the process. As you become more invested in going to business school, and your story solidifies, you may decide to add additional schools. As you clarify your goals, you may consider schools that you had never looked at in the past. Similarly, this process may cause you to drop schools.

Once you clearly see what makes each school different, you’ll understand which schools may best fit your needs. This will help you write your essays in a way that clearly shows fit by linking your needs to the schools’ culture.

But fit goes both ways. Schools are also seeking candidates that fit their unique culture. You can better understand the school’s culture by attending events this summer and fall. Also, don’t forget to keep up with those school-hosted online chats that provide admissions advice as well as insider knowledge about specific career paths or concentrations on offer.

Part of preparing a strong application includes knowing yourself well by doing a self-assessment. Know what you want to get out of your MBA experience and why a particular program fits your educational and personal needs.

Finally, I suggest creating a timeline of the deadlines of when you plan to apply. Working backward from this timeline will help you set goals in terms of GMAT preparation, essay writing, planning to attend events, etc. The sooner you hash out these details, the better prepared you’ll be to fine-tune your application and polish those essays.

Image credit: inertia NC (CC BY-NC-SA 2.0)

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Apply Now for McKinsey Emerging Scholars

Are you headed to a full-time MBA program at one of the top-tier business schools this Fall? Then consider applying for a McKinsey-sponsored scholarship opportunity for outstanding pre-MBA students. The Emerging Scholars program offers  a …

McKinsey_&_Company_logo

Are you headed to a full-time MBA program at one of the top-tier business schools this Fall? Then consider applying for a McKinsey-sponsored scholarship opportunity for outstanding pre-MBA students.

The Emerging Scholars program offers  a monetary award, individual mentorship with McKinsey consultants, and an opportunity to network with fellow peers across top MBA campuses during a celebratory weekend this summer.

Launched in 2013, this program has already extended scholarships and mentorship to many amazing pre-MBA students in its three years, and McKinsey plans to build upon the program even more this year. They want to get to know people who:

  • Actively seek to maximize their potential
  • Enjoy tackling complex challenges that matter
  • Thrive working collaboratively

According to the company, they are looking for people who yearn to do more than just come to work; they want to create change – for clients and the world around them.

Says one former recipient from Kellogg School of Management, “McKinsey’s Emerging Scholars program was an invaluable experience. We didn’t just hear about their culture, we experienced it over drinks and dinner. They didn’t show slides touting their high-impact work and renowned problem-solving approach they let us actually tackle a prior project with McKinsey facilitators.

In the end, you understand why CEOs and prime ministers call McKinsey first, why the best and brightest work there and, most importantly, whether or not the firm (and consulting) is right for you—all before you step foot on campus.”

The application—it’s simple and takes just a few minutes to complete—is open now and has a May 19th deadline for submission. Selected candidates will go through a short interview process and winners will be invited to a unique celebratory weekend in mid-summer.

Learn more at: http://www.mckinsey.com/careers/emerging_scholars

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Harvard Business School Names New Head of MBA Admissions

A five-month search culminated yesterday with Harvard Business School’s announcement that Chad Losee, Harvard MBA Class of 2013, will be its next Managing Director of MBA Admissions and Financial Aid. Losee will succeed Dee Leopold, …

new head of admissions at HBS

A five-month search culminated yesterday with Harvard Business School’s announcement that Chad Losee, Harvard MBA Class of 2013, will be its next Managing Director of MBA Admissions and Financial Aid.

Losee will succeed Dee Leopold, who has headed the school’s MBA selection process since 2006. Leopold will remain at HBS as Program Director for 2+2, a deferred admission process for students in college or full-time master’s programs.

After graduating from HBS in 2013 as a Baker Scholar (an academic honor awarded to the top 5% of the graduating class of some 900 students), Losee worked for a year as an HBS Leadership Fellow in the Dean’s Office. In that role, he collaborated with the school’s senior leadership on a range of strategic projects.

One such effort was at HBX, where Losee helped to launch and set strategy for this unique digital learning platform. In particular, he co-led the exam and credential strategy for CORe (Credential of Readiness), which teaches students the fundamentals of accounting, business analytics, and economics for managers.

In addition, he worked with HBS professor Clayton Christensen to develop an HBX course on Disruptive Strategy, an offering designed for executives around the world.

Losee also served as an observer with the HBS Admissions Board, evaluating prospective students during their interviews – an interest that had been piqued during his student days when he was an Admissions Ambassador for his HBS section, helping candidates during their visits to the campus. Losee has remained active as an HBS alumnus, serving a term on the HBS Alumni Board, one of about 70 graduates appointed to provide expertise and input to the School’s leaders.

I am a real believer in Harvard Business School’s mission to educate leaders who make a difference in the world, says Losee.

In 2014, Losee returned to Bain & Company’s Dallas office, where he had worked from 2008 to 2011, including a stint in Stockholm. As a manager at Bain, Losee has led consulting teams in client engagements across multiple industries. He graduated in 2008 from the Honors Program at Brigham Young University, where he earned a bachelor’s degree in international relations summa cum laude.

“I’ve seen firsthand how my classmates, the amazing body of HBS alumni, and the outstanding faculty and staff all strive to shape the world around them for the better,” Losee says.

“The experience of a two-year, full-time MBA at HBS continues to have a great impact on me personally and as a leader. My goal as Dee’s successor is to make sure that each diverse MBA class continues to have a transformative experience at HBS and go on to make a real difference in the world.”

“We are delighted to welcome Chad back to the School and his family back to Boston,” said Jana Pompadur Kierstead, Executive Director of the MBA Program. “He has a deep understanding of HBS and its pedagogy and mission; superb interpersonal, analytical, and strategic skills; and a passion for admissions. That combination of talent and experience positions him well to lead our Admissions and Financial Aid teams.”

Losee will begin his new role in June.

Image credit: Harvard Business School

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