Tag Archives: Chicago Booth School of Business
March 24, 2017
If you haven’t heard of it already, it’s time to become acquainted with TransparentCareer, the career management platform and brainchild of Chicago Booth School of Business MBAs Mitch Kirby and Kevin Marvinac. Frustrated by the lack of …
If you haven’t heard of it already, it’s time to become acquainted with TransparentCareer, the career management platform and brainchild of Chicago Booth School of Business MBAs Mitch Kirby and Kevin Marvinac.
Frustrated by the lack of relevant compensation and satisfaction data available to MBA students, they created their company in 2015 to provide both industry and company-specific info on effective hourly wage across a multitude of post-MBA roles, and took the idea through Chicago Booth’s New Venture Challenge (NVC), a top-ranked accelerator program that has helped to fund over 140 successful businesses.
On the website you’ll find out which are the best tech companies and consulting firms, the top companies ranked by women, and the top ten MBA jobs ranked by salary and satisfaction. You’ll also find data-driven career guides, company rankings, and scoring of the top MBA programs based on employment outcomes.
But that’s not all. “Since we started TransparentCareer last year, we’ve received hundreds of inquires about MBA startup compensation, equity vs. salary tradeoffs, work-life balance, and recruiting strategies,” says Marvinac.
To answer those many inquiries, look no further than their newly released MBA Startup Recruiting 101. Billed as, “Everything you’ve ever wanted to know (and probably more) about recruiting for startups and high-growth companies as an MBA,” the guide uses hard data to paint a picture of what the median opportunity for an MBA looks like.
The guide addresses common questions such as:
- What kind of startups hire MBAs?
- Where do MBAs fit within a typical startup?
- How much can a startup pay me?
- What are top MBA programs doing about the trend toward startup recruiting?
The founders share that the platform, less than two-years-old, is already used by 40% of all current US-based MBAs. This is definitely a site worth bookmarking, as the intel can greatly help those considering business school figure out just what type of salary bump they can look forward to based on the industry or company they plan to target upon graduating.
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March 14, 2017
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.
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.”
March 8, 2017
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 …
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 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
February 22, 2017
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 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 Business, Megan 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!”
October 18, 2016
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.
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
- Chicago Booth School of Business
- Northwestern’s Kellogg School of Management
- UV Darden School of Business
- Harvard Business School
- Stanford Graduate School of Business
- Dartmouth’s Tuck School of Business
- UC Berkeley Haas School of Business
- IESE Business School
- HEC Paris
- 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.