Industrial companies have traditionally favoured hiring
“second-hand” MBAs – those who have cut their teeth in banking or
management consultancy and want to move on. Now, this is changing.
spite of recent concerns in the business school world that MBA degrees
do not teach students skills that companies need, recruiters are
increasingly giving the professional services firms a run for their
money when it comes to recruiting newly minted MBAs directly from
business school. These days companies such as BP, BT, Google, Pepsico,
Samsung and Shell are names as familiar on the business school campus
as investment banks and management consultancies.
The sea change came with the classes that graduated in 2002 and 2003...
Congratulations to the class of 2007: It is an excellent year in which to venture forth into the real world, and even onto Wall Street. For the very best and brightest among you, the bulge bracket firms (aka the really big guys) are hiring like mad. For the traditional entry-level position of "analyst," the firms are paying a base compensation of about $70,000, with a bonus of anywhere between $65,000 and $95,000. Not bad, right?
Not bad, but, astonishingly, not good enough. These days, the Wall Street firms are struggling to keep their top hires, many of whom move onto the greener pastures of private equity and hedge funds after their obligatory two-year stints.
Over 100 representatives of leading business schools at the conference will discuss the challenges posed by innovation to executive education managers in an increasingly global environment. Can executive education consultants learn about innovation from different disciplines, such as high cuisine? How can business schools become more innovative, even disruptive, in the new European management education scenario after the Bologna Process?
UNICON is the international university consortium for executive education, an organisation of over 70 leading business schools with a commitment to management, executive education and development.
One of the biggest business events of the year took place in Barcelona this past week.
Barcelona, Thursday 15th February 2007 - The world's premier mobile
event, the 3GSM World Congress 2007, has enjoyed a second successful
year in Barcelona with an increase in both the quantity and quality of
visitors. An estimated 55,000* visitors from across the globe gathered
at the Congress to do business and discuss the hottest trends in the
mobile phone industry.
This year the Congress, organised by the GSM Association, hosted 1,300 exhibitors
"Our panelists were Paul Danos, dean of Dartmouth's Tuck School of Business; Tom Stemberg, founder of Staples (nasdaq: SPLS - news - people ) and a venture partner at Highland Capital; Forbes.com columnist Clayton Christensen, a professor at Harvard Business School, author of The Innovator's Dilemma and founder of the consulting firm Innosight; Scott Anthony, a managing director at Innosight and co-author, with Christensen, of Seeing What's Next; and Arlyn Tobias Gajilan, the Leadership editor at Forbes.com."
Their Top Ten. 1. You Tube, 2. Private Equity, 3. Supersized Philantrophy ...
..is chairman and chief executive officer of Lucent Technologies. As one of the founding executives of the company, she helped launch Lucent in 1996 and has spent more than 20 years of her career managing some of Lucent's and AT&T's largest divisions and most critical corporate functions. As Lucent's CEO since January 2002, she has led the company through one of the most challenging periods in the telecom industry's history and helped return the company to sustained profitability
"There is intense competition at the moment to hire the most talented and most intellectually able people ... We have a shortage of talent both within countries and between countries, and there is an intense battle between companies trying to hire the most talented workers and also between countries which are looking to recruit talented young immigrants.”
Following up on the information we posted about last week's roundtable in Prague on doing business in emerging markets, we spoke with Tuck professor Eric Johnson (right of photo) about the meeting, the main lessons learned, and his thoughts on how activities like this can inform future research and shape business school curriculum:
Click here to hear Professor Johnson's overview of the roundtable series, their choice of Prague as a loc ation and emerging markets as a topic, and the ways these sessions inform future research and teaching. (~4.5 minutes)
Click here to hear Professor Johnson summarize some of the main themes and take-aways from the Prague discussion. (~3.5 minutes)
"Women Face Multiple MBA Roadblocks, Say Female Executives", CNW Group According to the survey, more than half (56 per cent) of women in senior
level positions believe there are multiple barriers to female enrolment in MBA
programs, but just 30 per cent of men in senior positions feel the same way.
The obstacles most often cited by women are family responsibilities (36 per
cent), lack of financial resources (18 per cent) and lack of female role
models (6 per cent).
…keynote session at CIO Decisions 2006 in Carlsbad, Calif. (The annual conference is geared to CIOs at companies ranging from $50 million to $2 billion).
...A poll of the 200 CIOs in the audience showed that 30% had earned an MBA; 60% had not and 10% were pursuing one. When asked how they felt about the value of an MBA for IT executives, 19% of the audience said the degree was critical, 61% said "desirable but not critical," 16% were neutral on the issue, and 3% said the MBA was not important...
Students finishing Master of Business Administration
programs this year are being offered base salaries as high as $92,360 for the
first year of employment, up 4.2 percent from the average $88,626 received by
the Class of 2005, a new survey says.
More than two-thirds of jobs taken by MBAs in the Class
of 2006 came with average signing bonuses of $17,603, up slightly from the
previous year, according to the study released Friday by the Graduate Management
Admission Council, a McLean, Va., research organization that administers the
Graduate Management Admission Test.
After demand for MBAs declined in the softened economy
that followed the 2001 terrorist attacks, employers and recruiters are now
seeking the degree-holders to fill jobs in areas ranging from investment banking
"The MBA continues to demonstrate its strong value
proposition," GMAC President and Chief Executive Officer David Wilson said in a
prepared statement. "In a knowledge economy, leadership and management demand a
complex portfolio of skills and talents. A selective MBA program gives its
graduate those skills."
Universum'sAmerican MBA Edition is an independent
research survey that offers detailed information on the work-related
opinions of MBA's at the leading business shools in the US. Their survery of 2006 has been used in several articles including:
Della Bradshaw, The Financial Times Business Education editor.
I have been really interested to read the comments about the relevance of research and its application to teaching. I can't help thinking that the debate shouldn't be polarised around esoteric research on the one hand and on practical research and teaching on the other. Perhaps instead it should focus on how to develop really great ideas that can be researched, taught and used in the workplace. That is, how do you make sure research is provoking, whatever its remit and structure?
I'm afraid I'm on pretty shaky ground when I expound theories on high-level research, but clearly the best of it has changed the way businesses work, especially in the financial markets. I tend to think of it as being a bit like catwalk fashion - when I see some supermodel flouncing around in London or New York, I see clothes I would never wear in a million years, but eventually these designs influence the sort of clothes I buy in Marks and Spencer.
But that is the most exciting research - and clearly much research is neither exciting nor influential, particularly in second and third tier business schools.
I am reminded of the time when a subeditor on a UK national newspaper complained to the economics leader writer that he couldn't understand a word of his leader. The leader writer replied that there were only six people in the country would understand it - and the subeditor wasn't one of them! Clearly there are direct equivalents in the academic world, with academics publishing articles to impress other academics.
The same applies to "near-to-market" research: I often read case studies which only tell me things about a company that I have already read in newspapers. Unless they give companies new information on which they can develop strategies, what is the point of them?
Like Dean Danos, I believe the best teaching has to be informed by cutting-edge research. After all, teaching is about content as well as presentation. But it is what participants learn, not what the faculty teach, which is important, and there is a growing acceptance that other students, company internships or guest speakers are all contributors to this.
I have just got back from China where the top business schools are working hard to write case studies of companies in the region. One dean made the point that China is changing so rapidly in areas such as investment opportunities and banking, to name just two, that case studies are the most appropriate type of research. They capture the moment, if you will.
Perhaps the deep changes in the political, financial and business environments in Europe over the past 20 years have meant that lengthy research projects are less appropriate than in the US?