Tag Archives: Harvard Business School
January 27, 2014
For the fifth time since 1999, Harvard Business School tops the 2014 Global MBA Ranking published Sunday by the Financial Times. Stanford Graduate School of Business occupies the number-two slot for a second year running, …
For the fifth time since 1999, Harvard Business School tops the 2014 Global MBA Ranking published Sunday by the Financial Times. Stanford Graduate School of Business occupies the number-two slot for a second year running, while Wharton School swapped places with London Business School this time around, and Columbia Business School and INSEAD share the fifth place spot.
In fact, seven of the top ten MBA programs are taught in U.S. business schools, but France’s INSEAD (ranked 5th) and Spain’s IESE Business School (ranked 7th) also make the cut. Financial Times calls Yale School of Management a “notable climber” for rising four places to 10th, noting that this is the SOM’s first appearance in the top 10 in seven years.
The ranking also shows the salary of 2010 graduates of elite MBA programs has doubled over the past five years, despite a sluggish global economy. According to the Financial Times survey, 94% say they had achieved the salary increase they were looking for after business school.
Stanford GSB graduates enjoy the highest salaries, averaging $184,000 annually. The second highest salary earners were Harvard graduates, with $178,000. Wharton graduates aren’t far behind though, with salaries averaging $170,000.
The FT says its ranking is based on two surveys of the business schools and their alumni who graduated in 2010. MBA programs are assessed according to the career progression of their alumni, the school’s idea generation and the diversity of students and faculty. Compensation, however, is the most important factor in the ranking and accounts for nearly half of the total weight.
January 24, 2014
During their time participating in Harvard Business School‘s Field Immersion Experiences for Leadership Development program, or FIELD, successful students find they must learn to let go of preconceived ideas and step outside of their comfort …
During their time participating in Harvard Business School‘s Field Immersion Experiences for Leadership Development program, or FIELD, successful students find they must learn to let go of preconceived ideas and step outside of their comfort zone when they work with partner organizations in emerging markets.
A feature story published this week in the Harvard Gazette takes a look at how this innovative program, now in its third year, offers first-year MBA students an opportunity to test their skills and find out if what they developed conceptually in the fall will actually work in practice during FIELD’s eight-day immersive component in January.
Felix Oberholzer-Gee, the Andreas Andresen Professor of Business Administration, says the idea for the program came about as a countermeasure to research showing that companies often face great difficulties replicating their success when they expand internationally. The unfamiliar environment and different business etiquette require an adjustment both in expectations and in practice if companies hope to duplicate their local success.
The article notes that about 149 companies in 16 cities participated in the project in South America, Asia, Europe, and Africa, ranging from the almost fully developed Shanghai and Mumbai, India, to the delicate and struggling economies of Accra, Ghana, and Phnom Penh, Cambodia. While students do a lot of research in the first phase of FIELD, they often arrive overconfident about their ability to make an impact.
“It teaches HBS students something for which they’re not exactly well-known, and that is humility,” says Oberholzer-Gee. “You have to go into these markets, and you have to be quite humble about what works and what doesn’t work and how much of your previous experience is applicable to a particular market.”
This year’s FIELD teams wrapped up their visits last week, and will share their team projects and experiences with their home sections when they return to campus on January 27th. The article describes in detail each of the phases of the FIELD program, and offers a great snapshot of this unique element of the first year experience at Harvard Business School. Check out the original article in the Harvard Gazette for more information.
January 14, 2014
Harvard Business School‘s student-run Venture Capital and Private Equity Club will hold its 20th Annual Venture Capital & Private Equity Conference on February 9, 2014. As one of the largest student-run conferences, the event provides …
Harvard Business School‘s student-run Venture Capital and Private Equity Club will hold its 20th Annual Venture Capital & Private Equity Conference on February 9, 2014. As one of the largest student-run conferences, the event provides a forum for private equity and venture capital professionals, academics and students to reflect on the evolving landscape of the industry today.
This year introduces several new panel topics, including Investing in Africa, Family Offices, Corporate Venture Capital, and Women in Private Equity. All panels will be comprised of a blend of institutional investment managers, fund general partners, advisors, and intermediaries, each with extensive experience in the private equity and venture capital industries.
“The panels we’ve put together this year address a range of today’s most relevant topics in alternative investments, from growth equity investing and fundraising to geography specific investment opportunities,” says Alex Kleiner, Harvard Business School MBA Class of 2014 and Co-President of the Venture Capital & Private Equity Conference. “We hope to initiate a broad range of debates about the key trends affecting the industry today and into the future.”
This year’s conference will feature the following keynote speakers: David Rubenstein, Founder of The Carlyle Group; Joe Baratta, Global Head of Private Equity for Blackstone; and Chamath Palihapitiya, Founder of Social Capital and Former Vice President of Facebook.
Barbara Rauber, Harvard Business School MBA Class of 2014 and Co-President of the Venture Capital & Private Equity Conference, says, “It is an honor to welcome the leading members of the private equity and venture capital community to our conference once again and we look forward to a conference that will further the discussion on the evolving landscape of the alternative investment industry, where it is today and most importantly where it is going.”
To view the full schedule of events and to register to attend, please visit: http://2014.vcpeconference.com/
December 17, 2013
Are business schools adequately preparing MBA students with the IT skills that tomorrow’s companies will demand? Not according to a recent article in The Harbus, which asserts that Harvard Business School in particular is behind …
Are business schools adequately preparing MBA students with the IT skills that tomorrow’s companies will demand? Not according to a recent article in The Harbus, which asserts that Harvard Business School in particular is behind the curve when it comes to teaching students how to interact effectively with IT-oriented members of the C-suite.
“Today the HBS curriculum gives us powerful insights into CFOs and CMOs, but multiple alums observed that noticeably missing is the CIO and CTO perspective,” write Lauren Lockwood and Sean Liu, the article’s authors.
Whereas HBS once dominated in preparing students for today’s technology, and in fact was the first business school in the country to require every student to own a personal computer, the school now offers courses in this area only as electives in each individual HBS department.
In contrast, the authors note that MIT Sloan School of Management requires all students take “Data, Models, and Decisions”, and Stanford Graduate School of Business requires “Information Management”, whose syllabus states: “Knowledge of technology (computing, networks, software applications, etc.) is a prerequisite for a successful manager.”
“Information technology has infiltrated the senior ranks, becoming an integral part of building competitive advantage, securing information, understanding clients, predicting trends, and increasing productivity,” say Lockwood and Liu, who point to a growing importance of making IT decisions at senior levels.
The article offers an eye-opening look at how Harvard Business School has lost its tech lead and leaves its MBAs with a technology skill set gap. “It’s inexcusable that the curriculum today fails to cover the implications of technology for management, strategy, and organization, fundamental to accurately reflecting the real world for tomorrow’s leaders,” say Liu and Lockwood, who want these courses offered as part of the required curriculum now.
“You have to look no further than the Healthcare.gov debacle to appreciate the level of senior involvement necessary in IT decisions.”
Read the complete story of HBS’s Technology Skill Set Gap here.
December 10, 2013
This year’s Poets & Quants ranking of the best full-time MBA programs in the U.S. proves that the best business schools tend to stay put. There is not a single difference between the top eight MBA programs in our new 2013 composite ranking and the top eight in 2012. What’s more, all top 10 schools remained firmly in the top 10 this year.
The steadiest institution is still Harvard Business School, which took the very first spot for the fourth year in a row. Despite less-than-flattering publicity generated by a New York Times’ front page story on gender inequality at Harvard, an MBA from the school remains the quintessential credential in business.
“No rival beats Harvard in the formidable resources it brings to the game: the outsized number of superstar professors, 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,” said John A. Byrne, editor-in-chief of Poets & Quants.com.
This year’s entering class at Harvard, moreover, is one of the most impressive ever. Drawing from an applicant pool that was up 3.9% last year to 9,315 hopefuls, Harvard welcomed just 941 incoming MBA students, with the highest percentage of women ever at 41% of the class. The median GMAT score was a hefty 720, while the average undergraduate grade point average for the newest crop of MBA students was an impressive 3.67.
The underlying index scores in the composite ranking are especially close. The scores of No. 1 Harvard, No. 2 Stanford, No. 3 Chicago, and No. 4 University of Pennsylvania are fractions away from each other; a mere 0.35 separates No. 1 Harvard and its perennial West Coast rival No. 2 Stanford.
The immovable top eight differ in many ways—size, region, culture, and so on. But the schools do have one feature in common: They’re all private, pricey, highly prestigious institutions with powerful global brands.
This is the fourth year that Poets & Quants has published rankings of the world’s best MBA programs. Unlike other rankings, the Poets & Quants composite list combines the latest five most influential business school rankings in the world: Bloomberg BusinessWeek, The Economist, The Financial Times, Forbes, and U.S. News & World Report.
Instead of merely averaging the five, each ranking is separately weighted to account for Poets & Quants view of their authority and credibility. (The BusinessWeek, Forbes and U.S. News lists are given a weight of 25% each, while the FT is given a 15% weight and The Economist is given a 10% weight).
Combining the five most influential rankings doesn’t eliminate the flaws in each system, but it does significantly diminish them. When an anomaly pops on one list due to either faulty survey technique or biased methodology, bringing all the data together tends to suppress it. So the composite index tones down the noise in each of these five surveys to get more directly at the real signal that is being sent.
This year’s top 20 in the U.S. did change—but not much. UC-Berkeley’s Haas School of Business and Duke University’s Fuqua School switched places this year: Fuqua took the ninth spot, and Haas landed in tenth place. Meanwhile, the University of Michigan’s Ross School and the University of Virginia’s Darden School also pulled a switch. The Midwestern titan rose to No. 12, while Darden slipped to No. 13. In the middle of all the swapping, Cornell University’s Johnson Graduate School of Management remained stable at No. 11.
Though its Northern Californian cousin slipped a little, UCLA climbed from No. 17 to No. 14. It even bumped NYU’s Stern School out of the No. 14 spot, sending it down to No. 15. Meanwhile, Ivy League Yale School of Management finished 17th, down from 15th last year. U.S. News and the Financial Times actually placed Yale above UCLA, but the other rankings—in particular, the return-on-investment focused Forbes list—favored the Los Angeles school.
Though the Poets & Quants ranking is only a few years old, a recent survey by an association of admissions consultants found that more MBA applicants consulted the Poets & Quants ranking last year than other lists by The Economist and Forbes.
December 9, 2013
We’re sure Round 1 applicants to Harvard Business School are practically coming out of their skins waiting for that decision notification email. According to today’s update on the HBS Admissions Blog, applicants will learn their …
We’re sure Round 1 applicants to Harvard Business School are practically coming out of their skins waiting for that decision notification email.
According to today’s update on the HBS Admissions Blog, applicants will learn their fates at noon EST Wednesday. An email will direct candidates to their online application, which will have one of these three letters: sorry, waitlist, you’re in!
“On Wednesday, you get to choose where you’re going to be – and with whom – when the news comes in,” writes director Dee Leopold.
Best of luck to all the R1 applicants out there who are on pins and needles for the next day or so.