Tag Archives: Chicago Booth School of Business

US News Announces 2018 Ranking of Best Business Schools

U.S. News & World Report has released the 2018 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment. In this year’s full-time MBA rankings, …

U.S. News & World Report has released the 2018 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment.

Harvard Business School interview

In this year’s full-time MBA rankings, Harvard Business School and the University of Pennsylvania’s Wharton School have tied for the No. 1 program in the country. The University of Chicago Booth School of Business holds the No. 3 spot, and the Stanford Graduate School of Business drops from last year’s second place to share fourth place with MIT Sloan School of Management and Northwestern’s Kellogg School of Management.

Among part-time MBA programs, the UC Berkeley Haas School of Business once again retains the top spot, followed by Chicago’s Booth School of Business at No. 2. The NYU Stern School of Business and UCLA Anderson School of Management tie at third place.

US News’s Best Business Schools

  • Harvard Business School (#1 tie)
  • Wharton School (#1 tie)
  • Chicago Booth School of Business (#3)
  • Stanford Graduate School of Business (#4 tie)
  • MIT Sloan School of Management (#4 tie)
  • Kellogg School of Management (#4 tie)
  • UC Berkeley Haas School of Business (#7)
  • Tuck School of Business (#8)
  • Columbia Business School (#9 tie)
  • Yale School of Management  (#9 tie)

The six graduate disciplines U.S. News ranks annually are evaluated on factors such as employment rates for graduates, starting salary and standardized test scores of newly enrolled students. Because each graduate program is different, the rankings methodology varies across disciplines.

Different output measures are available for different fields, U.S. News explains, saying that in business, they use starting salaries and the ability of new MBAs to find jobs upon graduation or three months later.

“A graduate degree can lead to professional advancement and a potential salary increase,” says Anita Narayan, managing editor of Education at U.S. News. “Whether you are interested in pursuing a full-time program or taking classes part-time, the grad school rankings and advice offer guidance on finding programs that help you fulfill your personal goals.”

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Meet Madhav Rajan, New Dean of Chicago Booth

The Chicago Booth School of Business announced today that Madhav Rajan, former senior associate dean at Stanford’s Graduate School of Business, has been appointed the next dean, effective July 1, 2017. Rajan served as senior …

Chicago Booth Dean Madhav RajanThe Chicago Booth School of Business announced today that Madhav Rajan, former senior associate dean at Stanford’s Graduate School of Business, has been appointed the next dean, effective July 1, 2017.

Rajan served as senior associate dean for academic affairs at the Stanford GSB from 2010 to 2016. That role included leadership of Stanford’s MBA program, with oversight of admissions, curriculum, the student experience and career management. He launched new joint-degree programs with Stanford’s engineering school and rolled out initiatives for tighter integration with the rest of the university.

“We sought the most outstanding candidate whose values, ambition and abilities fully comport with the distinctiveness of Chicago Booth as one of methodological rigor in its research and education, and through that commitment one of high impact on the world,” President Robert J. Zimmer and Provost Daniel Diermeier wrote in announcing the appointment. “We are confident that Madhav will be an outstanding leader for Chicago Booth in the coming years.”

“The values I have in research and education are deeply valued at Chicago Booth,” Rajan said. “People come here to do rigorous, empirically based research and analysis, which provides the basis for a transformative student experience and an extremely effective MBA curriculum. We have an exciting opportunity to take Booth’s deep strengths and leverage them here and around the world. I am thrilled to have the chance to be dean at what is unquestionably the greatest academic business school.”

Rajan’s primary research interest is the economics-based analysis of management accounting issues, especially as they relate to the choice of internal control and performance systems in firms. He served as editor of The Accounting Review from 2002 to 2008 and is co-author of Cost Accounting: A Managerial Emphasis, the leading cost accounting textbook used around the world.

In 2000, Rajan won the David W. Hauck Award, the highest undergraduate teaching award at the University of Pennsylvania’s Wharton School. This April he will receive the Robert T. Davis Award for lifetime service and achievement, the highest faculty recognition awarded by the Stanford Graduate School of Business.

Rajan completed his bachelor’s degree at the University of Madras, India. He holds a PhD and two master’s degrees from Carnegie Mellon University. Before going to Stanford in 2001, Rajan held faculty positions at the Wharton School. He held a visiting professorship at Chicago Booth in 2007-08.

Rajan succeeds former Dean Sunil Kumar, who was named provost of Johns Hopkins University in July 2016. His appointment follows a national search informed by a Booth faculty committee.

Image courtesy of Stanford Graduate School of Business

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Applying for an MBA as an Early Career Candidate

Is there such a thing as a right time to apply for an MBA? Here at SBC, clients frequently ask if they’re too young to apply to some of the world’s top business schools. While …

advice for early career applicantIs there such a thing as a right time to apply for an MBA? Here at SBC, clients frequently ask if they’re too young to apply to some of the world’s top business schools. While there’s no one-size-fits-all answer, many b-school hopefuls consider pursuing an MBA straight out of undergrad or with scant work experience a no-brainer, as they avoid putting their lives on hold for two years—and forgoing a potentially significant salary to do so.

But what kind of early career candidate has a shot of admission into a top MBA program? Basically, those who are talented, motivated, and exhibit a track record of leadership and initiative. Though they may not have the years of formal work experience under their belts, these younger applicants have gained skills through internships, community service, entrepreneurial ventures or extra-curricular activities.

In a recent piece published on the Booth Insider blog at the University of Chicago Booth School of BusinessMegan Stiphany, Senior Associate Director of Admissions and Program Director of Summer Business Scholars, offers advice to early career candidates on finding those growth opportunities that will set you up for future success.

Professional or academic internships are a great place to begin, since they allow you to try a new career on for size and help lay the foundation for a strong professional network. This can be especially helpful for applicants with a lighter quant background in college.  You’ll build new skills, crystallize your career goals, and become more sure about whether an MBA is the next logical step. As an added bonus, Stiphany says future employers and graduate programs alike appreciate the value of internship experiences.

Programs such as Booth’s Summer Business Scholars Program (SBSP) allow those thinking about pursuing an MBA to test out the b-school experience. “No matter your background, spending three weeks this summer at Booth will give you tangible business skills that you can use right away, and give you a great taste of the business school experience,” she says.

“Recruiters and graduate programs are attracted to candidates who have explored diverse areas of study, and who can join their organization with strong leadership, business, and communication skills in place,” Stiphany adds.

Schools are becoming increasingly open to all ages, and realize that candidates have a lot to contribute in different ways at various life stages. If you can demonstrate maturity, highly focused career goals, leadership skills, and enough life experience to contribute to an incoming class, your age or thin amount of work experience become far less important.

Your job as an MBA applicant therefore is to search internally for what you have to offer.

“There are many roads you can take as part of your career journey,” says Stiphany. “Take the time to explore each option in order to truly evaluate which is right for you – and when!”

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The Economist’s 2016 Ranking of the World’s Best MBA Programs

In The Economist‘s recently published ranking of the World’s Best Full-Time MBA Programs, the Chicago Booth School of Business once again comes out on top…for the sixth time in seven years. Despite Booth’s reputation for finance and super quants, The …

In The Economist‘s recently published ranking of the World’s Best Full-Time MBA Programs, the Chicago Booth School of Business once again comes out on top…for the sixth time in seven years.

chicago booth tops Economist MBA ranking

Despite Booth’s reputation for finance and super quants, The Economist finds it to be a well-rounded MBA program, with graduates gushing about finding nearly guaranteed employment in the widest range of industries, and students believing the Chicago Booth career services, faculty, and facilities were top-notch.

While acknowledging that rankings are controversial, and that what makes a good MBA program varies for each individual, The Economist aims to look at business schools from the students’ perspective.

Their responses on how well the program delivers the things students themselves cite as most important inform the criteria The Economist measures and the weightings they apply. Four factors have consistently emerged when students assess the quality of their MBA program:

  • open new career opportunities and/or further current career (35% weighting)
  • personal development and educational experience (35%)
  • increase salary (20%)
  • networking potential (10%)

(see full methodology)

Top Ten Full-Time MBA Programs

  1. Chicago Booth School of Business
  2. Northwestern’s Kellogg School of Management
  3. UV Darden School of Business
  4. Harvard Business School
  5. Stanford Graduate School of Business
  6. Dartmouth’s Tuck School of Business
  7. UC Berkeley Haas School of Business
  8. IESE Business School
  9. HEC Paris
  10. University of Queensland Business School (Australia)

There’s a fair amount of volatility to be found within this newly released ranking, with Kellogg School jumping five spots in the 2016 ranking, up from 7th place last year. Stanford GSB, meanwhile, ranked 13th in 2015, and IESE held 14th place.

More dramatically, Spain’s ESADE Business School fell 33 places to No. 54 this year, and IMD of Switzerland has also seen a precipitous decline, going from the top spot in 2008 to 23th place today.

Darden School was ranked No. 1 for educational experience for the sixth consecutive year.

While we don’t like to encourage clients to focus too heavily on rankings when they’re making their MBA program selections, we also know those headed for b-school really can’t help themselves. But placing too heavy an emphasis on rankings can actually become a distraction for some applicants, so be sure to consider multiple factors when making your final school selection.

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Tuesday Tips: Chicago Booth Fall 2017 MBA Essay Tips

The Chicago Booth School of Business is consistently rated in the top echelon of MBA programs in the United States and is known for a strong intellectual community. This application is designed to evaluate candidates on …

chicago booth essay tipsThe Chicago Booth School of Business is consistently rated in the top echelon of MBA programs in the United States and is known for a strong intellectual community. This application is designed to evaluate candidates on their ability to handle the Chicago curriculum, contribute to the community, and grow in their careers.

Academic ability will largely be communicated through your GPA/GMAT, transcripts and other fixed data points, though intellectual curiosity can be demonstrated in the essays and the interview.

Along with academics, Chicago will be looking for demonstrated leadership, team building skills and community involvement, as well as your fit with Chicago Booth and the perspective you will share with your classmates.

It will be important to strategically work in leadership and work accomplishments into your application. If you choose an image from the options that focuses on professional topics you can work some of your own work examples into the essay.

If you decide to focus on some of the community or academic topics, you can use your resume and certainly the interview to describe your work accomplishments and goals.

ESSAY QUESTION
View this collection of shared Booth moments. Choose the moment that best resonates with you and tell us why.

Presentation/Essay Guidelines:
• Choose the format that works for you. Want to illustrate your response visually? Submit a slide presentation. Like to express yourself with words? Write a traditional essay. Use the format that you feel best captures your response, the Admissions Committee has no preference.
• Determine your own length. There is no prescribed minimum or maximum length. We trust that you will use your best judgment in determining how long your submission should be, but we recommend that you think strategically about how to best allocate the space.
Technical Guidelines:
• File Size: Maximum file size is 16 MB.
• Accepted Upload Formats: Acceptable formats are PDF, Word, and PowerPoint. We strongly recommend converting your piece to a PDF file prior to submitting.
• Multimedia Restrictions: We will be viewing your submission electronically and in full color, but all submissions will be converted to PDF files, so animation, video, music, etc. will not translate over.

The new Chicago Booth essay question gives you a set of photos and text describing and depicting a range of student activities at Booth – from students in India as part of a Global Social Impact Practicum to an MBA sailing race – and asks you to choose one that resonates with you.

Your first step is to do as much school research as possible on Chicago. Visit campus. Attend events. Speak to alumni. Read the admissions blog. Whatever you are capable of doing to experience the community for yourself before starting your application will be invaluable as you set pen to paper.

Chicago Booth’s open-ended essay format is daunting for most applicants. Whether you choose to write an essay or prepare a presentation, take a step back from the unique format and think about the question strategically. The format’s open-ended setup simply gives you the freedom to express who you are in words, images, graphics or some combination.

Keep in mind what Chicago Booth represents in the image you choose. Booth is a school with a tradition of intellectual rigor, non-conformity, and innovation. When discussing the image that resonates with you about Chicago Booth you can share almost anything from any context, from work to home to extracurricular activities.

It’s also important to explain why your chosen image resonates with you and to bring in important elements of your application strategy. Maybe the image of GrubHub founder Matt Maloney on the floor of the New York Stock Exchange resonates with you because you dream of an entrepreneurial career, and you can use the essay to describe more about your career goals.

If you decide to write an essay response, you have enough space to tell a story that describes something new about yourself. If you decide to prepare a PowerPoint in response to this essay question, refine your story to its key elements.

To keep a visual essay interesting and high-impact, consider how you will format. Can you use photos? Drawings? If you use words, keep them clear and focused. Take every point up a level, so you are communicating a vision rather than a thesis.

Optional Essay:
Is there any additional information that you would like the Admissions Committee to know? If so, please address in an optional essay. (300 word maximum)

This optional essay is a flexible question, allowing you to provide the information you need to put forward the best possible application. If you have any areas that need to be explained in your profile, such as academic issues or gaps in work experience, this is the ideal place to add more detail.

Because the essay is open-ended you can also use it to add any additional information you wanted to inform the admissions committee about. Anything from an interesting personal background to meaningful extracurricular could be relevant context to add to a successful application.

Contact Stacy Blackman Consulting to learn more about how we can help you approach your Booth application.

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Chicago Booth Dean Kumar Named Provost at Johns Hopkins

Johns Hopkins University has announced that Sunil Kumar, dean of the Chicago Booth School of Business, will become its 15th provost and senior vice president for academic affairs, effective September 1, 2016. “Sunil is a proven academic …

Johns Hopkins University has announced that Sunil Kumar, dean of the Chicago Booth School of Business, will become its 15th provost and senior vice president for academic affairs, effective September 1, 2016.

“Sunil is a proven academic leader with uncompromising standards for excellence, great integrity, and a deep-seated commitment to collaboration,” says President Ronald J. Daniels. “He is a scholar and leader passionate about higher education, committed to values that align with the priorities of the Johns Hopkins Ten by Twenty‘ strategic vision, and well-suited to be a steward and champion of this extraordinary institution.”

Sunil Kumar provost Johns HopkinsIn five years as dean at Chicago Booth, Kumar helped raise more than $300 million in philanthropic support; focused on student recruitment, including increasing the enrollment of women in full-time programs from 35 percent to 42 percent; and expanded courses for undergraduates.

The dean was also instrumental in establishing the newly consolidated Polsky Center for Entrepreneurship and Innovation, which helps researchers across the university translate ideas, discoveries, and new technology into products and start-up businesses.

As JHU provost, Kumar will work with the president and deans on university-wide interdisciplinary collaboration, academic policy, and key priorities including diversity, student aid, and commitment to the communities surrounding Johns Hopkins’ campuses.

“I look forward to helping Johns Hopkins continue to attract the best faculty and students, while strengthening a welcoming, inclusive, and scholarly environment at the university,” says Kumar. “Ensuring Johns Hopkins is the home of choice of a diverse and talented group of faculty members and students is important to me.”

“I feel that the professional schools and the rest of the university have a complementary and symbiotic relationship,” Kumar adds. “I am deeply attracted to the opportunity to support the faculty and students at Johns Hopkins as it moves closer to the ‘one university’ ideal.”

For more information on this new appointment, please read the original article on the Johns Hopkins University website.

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