Tag Archives: Chicago Booth School of Business

B-School Students Can Network Effectively and Economically

The travel and networking experiences that MBA students have at their fingertips is just one of the many amazing benefits of business school. Whether the motive is a tech trek to Silicon Valley, an finance …

The travel and networking experiences that MBA students have at their fingertips is just one of the many amazing benefits of business school. Whether the motive is a tech trek to Silicon Valley, an finance industry conference in New York, or a trip bonding with peers in Belize, these adventures can make quite a dent in a student’s wallet.

A recent article in US News offers some great tips to help b-school students trim some of those expenses by focusing on other, more affordable networking options. And in some cases, the untapped opportunities don’t cost a penny.

networking at business schoolFor example, students can take advantage of networking opportunities set up by the school to get first-year students paired with second years and alumni. “We really try to get the students engaged with the second-year class first, because that’s zero cost,” Emily Anderson, director of the career management center at the Owen Graduate School of Management at Vanderbilt University, tells US News.

Anderson also notes that at Owen, second-year students help facilitate a practice career fair, which lets first-year MBA candidates sharpen their networking skills while learning about various careers.

Another great tip is to help run a conference in the industry you’re interested in.  Working behind the scenes offers greater access to the speakers or session leaders of the event,  allowing you to forge stronger connections than the conference attendees collecting business cards at the cocktail reception, according to one Chicago Booth School of Business MBA featured in the article.

And don’t underestimate the networking power of a school sweatshirt—you never know what conversations it may spark and doors it may open. Anderson tells US News, “You want to draw people into conversations as much as possible.”

Despite the sometimes exorbitant cost, most MBA students find significant value in these travel and networking experiences, which can lead to employment offers and internships thanks to a school-sponsored trip.

Students must decide for themselves what is financially feasible, but there’s much to be gained from making strong connections with your classmates, and there’s almost no better place to do so than outside the classroom.

You may also be interested in:
Economist Ranks MBA Programs for Networking Potential

Image credit: Flickr user Richard Foster  (CC BY-SA 2.0)

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7 Podcasts to Feed Your Mind This Thanksgiving Weekend

When you finally emerge from your Tryptophan coma this Thanksgiving weekend and have a hankering for some food for thought, check out these illuminating B-school podcasts that cover entrepreneurship, creativity, leadership and marketing tactics. Professor …

When you finally emerge from your Tryptophan coma this Thanksgiving weekend and have a hankering for some food for thought, check out these illuminating B-school podcasts that cover entrepreneurship, creativity, leadership and marketing tactics.

MBA podcasts

Professor Dorie Clark at Duke University’s Fuqua School of Business talks about what it takes to succeed in business today. Whether you’re an entrepreneur or an employee, it’s all about standing out.

From the online publication Kellogg Insight, October’s faculty podcast features two Kellogg School of Management professors and a lecturer about the power of storytelling, as well as their tips to become a better storyteller.

Wendy Huber, Assistant Dean for the Full-Time MBA Program at Darden School of Business offers tips on how to achieve success in business school.

Harvard Business School launched a podcast series this fall called Cold Call, and the episode “Dangerous Mines: Saving Lives Through Leadership” stresses safety in South Africa’s platinum mines.

Brit Morin, founder and CEO of Brit + Co, discusses Inspiring Creativity with Great Content in this podcast from Entrepreneurial Thought Corner at Stanford University.

Nicholas Epley, professor of behavioral science at Chicago Booth School of Business, debunks some dangerous myths about gender differences.

This one falls under the marketing category, but it’s also just really fun and interesting for anyone headed to see “Spectre” this weekend. The Wharton School‘s Knowledge@Wharton publication offers this new podcast: The Spy Whom We Loved: The Enduring Appeal of James Bond.

We hope you enjoy this little bit of brain food and find something useful—and interesting—in each of these suggestions.

Image credit: Flickr user Patrick Breitenbach (CC By 2.0)

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Harvard Business School Crowned No. 1 By Poets & Quants

Poets & Quants released its 2015 MBA ranking this week, and Harvard Business School has reclaimed the title of world’s best business school after rebounding from second place last year. HBS has landed the top …

Poets & Quants released its 2015 MBA ranking this week, and Harvard Business School has reclaimed the title of world’s best business school after rebounding from second place last year. HBS has landed the top spot for five of the six years P&Q has published its composite ranking.

The school will continue to have a huge head start in maintaining that lead given its $3 billion endowment, which is three times the size of Stanford Graduate School of Business, its nearest competitor, notes P&Q editor John A. Byrne in Fortune. HBS has already raised more than $860 million toward the school’s $1 billion capital campaign, which still has three years remaining.

No rival beats Harvard in the formidable resources it brings to the game: more superstar professors than any other school, the diversity of its course offerings, the stellar quality of its students, the size and scope of its campus, and the career achievements of its alumni spread all over the world,” writes Byrnes.

Top Ten U.S. MBA Programs

  1. Harvard Business School
  2. Stanford Graduate School of Business
  3. Chicago Booth School of Business
  4. University of Pennsylvania’s Wharton School
  5. Northwestern’s Kellogg School of Management
  6. Columbia Business School
  7. MIT Sloan School of Management
  8. UC Berkeley Haas School of Business
  9. Dartmouth’s Tuck School of Business
  10. Yale School of Management

Top Ten International MBA Programs

  1. INSEAD
  2. London Business School
  3. IESE Business School
  4. IE Business School
  5. HEC Paris
  6. IMD
  7. Cambridge Judge Business School
  8. ESADE
  9. SDA Bocconi
  10. Oxford Saïd Business School

According to Poets & Quants, the lineup of the best U.S. MBA programs combines the five most influential rankings but each is weighted separately to reflect P&Q’s view of their authority: U.S. News & World Report is given a weight of 35%, Forbes 25%, Bloomberg Businessweek 15%, The Financial Times 15%, and The Economist receives a weight of 10%.

“The list is far more stable–and reliable–than most rankings published elsewhere, taking into account a massive wealth of quantitative and qualitative data captured in these major lists, from surveys of corporate recruiters, MBA graduates, deans and faculty publication records to median GPA and GMAT scores of entering students as well as the latest salary and employment statistics of alumni,” Byrne explains.

You may also be interested in:

Columbia’s Dean Hubbard on MBA Rankings
Rethinking MBA Rankings

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Round 1 Reactions to Chicago Booth’s New Photo Essay Question

The Chicago Booth School of Business made a dramatic departure this application season with its innovative essay question based on a series of photographs—applicants must select one picture and explain how it resonates with their …

The Chicago Booth School of Business made a dramatic departure this application season with its innovative essay question based on a series of photographs—applicants must select one picture and explain how it resonates with their own viewpoint on why the Booth community is the right fit for them.

Chicago Booth MBA essayAs Round 1 interviews get underway, associate dean of admissions Kurt Ahlm shares some insight on the Booth Insider blog about how applicants have approached the photo essay.

“The intent of the essay is to get a better feel for who you are, how you think, and the unique impact you bring to the Booth community,” Ahlm explains. “We’ve been really impressed and have seen applicants take a very personal approach with their chosen image, as well as give profound reasons for wanting to be a part of this community.”

The photo is simply a way to contextualize and personalize the response, says Ahlm.

Michael Scichili, a Booth applicant featured in a recent Wall Street Journal article about the trend of unusual MBA essay prompts, said he thought the concept was “a little weird” at first.

He ultimately chose to write about a picture of Cloud Gate, the bean-shaped sculpture in Chicago’s Millennium Park. Scichili told the WSJ his essay focused on how the sculpture “distorts reality a little bit and makes things seem as though they’re not the way they are,” a reminder that in solving business problems, “you have to make sure you’re cognizant of your own bias.”

We’ve advised clients to think strategically about this question and chose a photo which resonates most specifically with them. You have the freedom to express who you are in words, images, graphics or some combination.

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.

The Booth admissions dean says that, “At the end of the day, we are looking for you to bring a new element about yourself into the essay, something that you haven’t already shared in other sections of the application.”

You may also be interested in:

Chicago Booth Debuts Bold New Essay Format

Chicago Booth Fall 2016 MBA Essay Tips

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Harvard Crowned No. 1 in Bloomberg Businessweek 2015 MBA Ranking

Bloomberg Businessweek has released its 2015 global rankings of best business schools, and Harvard Business School claims the number one spot among 74 full-time U.S. programs. Chicago Booth School of Business is number two, and …

Bloomberg Businessweek has released its 2015 global rankings of best business schools, and Harvard Business School claims the number one spot among 74 full-time U.S. programs. Chicago Booth School of Business is number two, and Northwestern’s Kellogg School of Management is number three. Bloomberg Businessweek‘s top school of 2014, Duke University’s Fuqua School of Business, fell to number eight.

Of 29 international MBA programs, Western University’s Ivey Business School in Ontario, Canada is number one (retaining its top spot in 2014’s ranking), London Business School is number two and INSEAD in Fontainebleau, France is number three.

Among the 74 part-time U.S. MBA programs evaluated, Northwestern’s Kellogg ranks number one, Carnegie Mellon’s Tepper School of Business ranks number two, and Rice University’s Jones Graduate School of Business ranks number three.

Top Ten Full-Time MBA Programs in 2015

  1. Harvard Business School
  2. Chicago Booth School of Business
  3. Kellogg School of Management
  4. MIT Sloan School of Management
  5. UPenn Wharton School
  6. Columbia Business School
  7. Stanford Graduate School of Business
  8. Duke/Fuqua School of Business
  9. UC Berkeley Haas School of Business
  10. Michigan Ross School of Business

For the first time, Bloomberg Businessweek says it has placed a sharper focus on what people most hope to find after business school—career growth and job satisfaction—and how well MBA programs promote both. Businessweek compiled what it calls its deepest and broadest set of data ever from over 13,150 current students, 18,540 alumni, and 1,460 recruiters across 177 business school programs.

According to the news magazine, the rankings are based on five measures:

1. Employer Survey (35 percent of total score): Recruiter feedback on the skills they look for in MBAs, and which programs best equip their students with those skills;

2. Alumni Survey (30 percent of total score): Feedback from the Classes of 2007, 2008, and 2009 on how their MBAs have affected their careers, their compensation change over time, and their mid-career job satisfaction;

3. Student Survey (15 percent of total score): The Class of 2015’s take on academics, career services, campus climate, and more;

4. Job Placement Rate (10 percent of total score): The most recent data on how many MBAs seeking full-time jobs get them within three months of graduation;

5. Starting Salary (10 percent of total score): The most recent data on how much MBAs make in their first jobs after graduation, adjusted for industry and regional variation.

“By refining our focus and updating our methodology, we’ve created the most effective ranking yet for helping career-oriented students choose an MBA program,” says Ellen Pollock, editor, Bloomberg Businessweek.

Not everyone agrees, however, that the updated methodology accurately reflects the standing of the best business schools in the land.

“Changes in methodology…result in vast swings in rankings that have nothing to do with the quality of an MBA program’s experience,” notes Poets & Quants editor John A. Byrne in his analysis of the new rankings. “Even among the truly elite MBA programs, there were double-digit changes which tend to be rare and hardly credible,” Byrne writes.

In the article he calls out some head scratchers—schools that have either skyrocketed or plummeted over last year’s standing—but Byrne says that in general, the new methodology has produced a somewhat more credible list than last year’s, “which severely damaged the standing of the Businessweek ranking.”

In the end, despite any debate over rankings and methodology, one thing remains clear: the MBA continues to be a sound investment in one’s career.

Jonathan Rodkin, research and rankings coordinator at Bloomberg Businessweek, says, “Most MBAs have no trouble landing jobs: Three months after graduation, 88 percent of MBAs have been hired—and offered a nice pay bump. Graduates saw an 81 percent jump over their median compensation before B-School. After six to eight years, pay typically increased another 64 percent to around $169,000 a year.”

You may also be interested in:

Chicago Booth Tops the Economist MBA Rankings Again
Columbia’s Dean Hubbard on MBA Rankings
Rethinking MBA Rankings

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Chicago Booth Tops The Economist MBA Rankings Again

For the fifth time in six years, the Chicago Booth School of Business takes the top spot in The Economist’s annual ranking of the best business schools in the world. Despite Booth’s reputation for finance …

chicago booth tops economist rankingsFor the fifth time in six years, the Chicago Booth School of Business takes the top spot in The Economist’s annual ranking of the best business schools in the world.

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.

Although the rankings are global, 14 of the top 20 schools in the 2015 ranking are located in the U.S. Here’s a look at this year’s Top Ten:

  1. Chicago Booth School of Business
  2. UV Darden School of Business
  3. Dartmouth’s Tuck School of Business
  4. Harvard Business School
  5. HEC Paris
  6. UC Berkeley Haas School of Business
  7. Northwestern’s Kellogg School of Management
  8. INSEAD
  9. UCLA Anderson School of Management
  10. The Wharton School

There were some notable shifts from last year’s ranking, which placed Kellogg at 14, INSEAD at 18, and UCLA Anderson at 13. Another surprise was Spain’s IESE, which took the 5th spot in 2014 but came in at 14 this year. IE Business School, also in Spain, made great strides over last year’s ranking, coming in at 36 in 2014 and 17th in 2015.

The Economist wants to find out how effective the MBA degree is at opening up new professional opportunities, and says its ranking is based on a mix of hard data and subjective marks given by the students.

“Each year we ask students why they decided to take an MBA. Our ranking weights data according to what they say is important. The four categories covered are: opening new career opportunities (35% weighting), personal development and educational experience (35%), increasing salary (20%) and the potential to network (10%),” the magazine explains.

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.

You may also be interested in:

Columbia’s Dean Hubbard on MBA Rankings
Rethinking MBA Rankings
The Truth Behind 3 Common MBA Rankings Myths

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