IDEAS & INNOVATION For MBAs, a Post-Crisis Curriculum When B-school students arrive on campus this year, they'll find new classes and new programs—all pegged to the global meltdown
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MBA JOURNAL: FIRST YEAR REVIEW The True Value of an MBA "The most important thing I've learned in business school is that business is messy"
Getting In: Business School Blimp Runs on Solar Power The 40th anniversary of the moon landing has come and gone, and people are starting to fall into post-celebration hangovers. But a blimp is coming to the rescue, giving flight-loving people everywhere another reason to be merry
Notre Dame: A Virtual Tour Notre Dame's Catholic base offers business students an ethically grounded and academically challenging way to earn an undergraduate or MBA degree
Getting In: NYU Stern Names Stanford Professor as New Dean Today the New York University's Stern School of Business named Peter Blair Henry, a renowned international economist and Stanford Graduate School of Business professor - as its new dean
Pennsylvania: A Virtual Tour A Wharton degree virtually guarantees a highly competitive salary, a powerful alumni network, and for many, a place in the business world
B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:
Getting into B-School - Thinking of NOT accepting offer
From: jenn1979 To: All
Anyone else seriously considering their decision start B-school in the fall? I accepted an offer at a top 10 school (Ross) but have been having second thoughts. After I spoke with a number of MBA grads and learned what positions many of them are taking (quite a few are returning to their pre MBA jobs with an extra 100K of debt), I'm seriously re-considering my decision to pursue the MBA at this point in time. Anyone else in my boat?
From: cdubya To: jenn1979
Ask people who went to get their MBA around 2000. Then ask those who got theirs a couple years ago. Then take what you know now, and you will see its cyclical. You are hitting it at the perfect time. Count yourself lucky! Just my opinion.
From: JohnJimmy To: jenn1979
I think the situation will be better in a couple years. I'm planning on joining the class of 2012. I was planning on starting last year but postponed due to the economy. But I'm starting to get too old to wait it out any more so I'm going ahead and saying financial consequence be damned. Also, in the words of Warren Buffet "Be fearful when others are greedy, be greedy when others are fearful."
From: KAYES2 To: jenn1979
Having gone through the cycles of peaks an troughs in the job market, I am sharing my viewpoint:
-If you have a stable job, and not unhappy about the work environment, please stick to it. -If you are in a age bracket, below 25 years, it makes sense to wait for a couple of years and apply for the batch entering Fall 2011. -Job market is very bad, to say the least! Even brands like H/S/W are not adequate for getting a job. -If your current employer is willing to take you back post MBA, then you have a different scenario! You should go ahead with your admission.
Best luck.
From: NewEnglander To: jenn1979
How did Ross place this year? Did you speak to the recent grads? The questions to ask is NOT the placement % but the number of people who got good jobs. If you find that many people had to settle for mediocre jobs, Ross may not be the place for you now.
From: mbaguru22 To: jenn1979
I think it all depends on what you want to do
If you are like many on this bored and send signals that anything less than making 130k and working in high finance or M/B/B is a failure than yes you should probably not go
If you are actually normal and wouldn't mind the other 99% of jobs out there I don't see why you shouldn't go
From: QwanCC To: mbaguru22
I think the key here is to see the long term. Are you honestly stressing about getting a job in 2 years??? If so, think about what you need to do to guarantee that you are one of those that DO get a job and DO it.
Personally, I feel that those who worry about the job market too much are those who dont have a good shot at landing a job.
From: mbrown23 To: jenn1979
Try to look at the picture in the long term. If you can delay B-school for a year or two without damaging your chances for admission, then it may be worthwhile to consider that option. However, you never know if you will be admitted in a few years.
From: jenn1979 To: NewEnglander
Yes, many of the Ross grads from this year took what I would classify as mediocre jobs for someone graduating from a top MBA program. I spoke to a number of 09 Ross grads that were discouraged and either returning to their pre-MBA job or taking positions that they didn't need an MBA for. Just seems crazy to me that you spend $100,000 and two years of not earning an income and come out of school in worse shape (in debt and not earning much more than you could have without the MBA).
Getting into B-School ? school for consulting (Europe)
From: juan333 To: All
Which is better for consulting Said, Esade or IE?
Hello Everyone! I got accepted to Said, ESADE and IE for MBA programs. My goal is to work in consulting for 2-5 years after graduation and later work in entrepreneurship field. The question is how would you rank these schools in terms of possibility to be hired later by top consulting companies? and why? My background: M 30yo, 6y work exp, for 2 years ran my own company. BS Economics, MS finance. please help me deciding.
From: Saem1973 To: juan333
Which is your GMAT and GPA?
Where did you worked and what did you do?
We need more "hard" data to analyse your profile.
I do not want to discourage but unless the previous is very good to sell, your chances to work for McKinsey or Boston are really low in any of these schools and even lower if the crisis gets longer. Saem
From: juan333 To: All
M. 30y. GMAT 710. Lived and worked in 3 European countries. BS in Economics, MS in Finance. speak Russian, English, Lithuanian fluently. understand and can speak some of icelandic, spanish, slovak etc.
6years we. accounting and some work in recruitment agency as a manager. for the last 2 years or so had my own construction company, built up everything from the scratch. i have never dealt with consulting so i dont know what is really needed in that field. anyway i dont have big names on my cv, but the good thing is that i have experience starting and running a co.
i see now in BW site that McK is a key recruiter from Oxford and salary is biggest for Oxford graduates. for some reason i got impression that Oxford is oriented towards social entrepreneurship, then how is the average salary so high? and how reliable this data is in general?
From: whistle_blower_h To: juan333
Mckinsey key recruiter at Oxford?I think they hire 1-2 graduates from Oxford. Dont believe in marketing stunts...
From: Saem1973 To: juan333
Well, you never know, I have a friend working for MCKinsey and she spent the previous MBA year as a sabbatical year, and also she did not have big names but she was a top 10 US School.
IE, Esade, Oxford, go where you think you can have more fun. They are 4 to 10 in Europe depending who answer this question.
About salaries, make your own conclusions. Probably FT data (salary) is more reliable than BW, check it.
Getting into B-School ? MBA on Real Estate
From: FZ10 To: All
Does anyone can tell me what are the top 5 MBA programs with Real Estate faculties?
And the sources of the information?
I know there's Wharton (#1) and Haas (#2 or #3?)
Thanks
From: cbs09 To: FZ10
Columbia, MIT, NYU, Kellogg all have good real estate schools
From: sacred To: cbs09
MIT Penn Columbia USC Wisconsin-Madison
From: canuck_mba To: FZ10
you will still place better in real estate out of H/S than any other school except for wharton. Columbia would be close too. I'm not trying to pump H/S. My point is that I think you first look at the most highly ranked school generally and then only take the RE focused school if they're somewhat close.
Btw, great time to get into real estate over the next few years!
From: barney1 To: FZ10
Found the following that might be helpful in your school search: Real Estate Economics (one of the more respected industry journals) ranked Berkeley 1st and MIT 2nd in terms of must influential research institution in the field. Dr. Geltner (MIT) and Dr. Wheaton of CB Torto Wheaton fame (MIT) were ranked 1st and 6th respectively by the journal as most influential researcher in the field. Rosen who is head of the Fisher Center at Haas recieved his PhD from MIT. Good luck!
From: sacred To: barney1
It might also be nice to take a look at the rankings of related programs and schools that have dedicated real estate centers.
Universities with dedicated Centers for Real Estate (that I am aware of)
Arizona State Clemson Columbia University of Denver MIT NYU Texas A&M USC Washington State Wisconsin-Madison
Whether you just want to focus on locally based real estate issues or start a global real estate and development enterprise one step in the right direction can be getting your MBA in real estate. It can be a great career booster for those already working in the real estate field and an illuminating experience for those looking to make the switch. In other words, if you're already a member of the National Association of Realtors and you're already listed in the official real estate agents directory, this might be a way to separate yourself from the pack. You'll learn the skills you'll need to work with the changes currently happening in the real estate market as well as being prepared to work with any future changes that might occur.
With a majority of programs taking 18-24 months to complete, finishing an MBA is no small feat. New programs that offer weekend classes and accelerated study can help those who want to work while attaining their degrees to do so more easily, however. Students should be prepared to take a range of general business courses that will help them emerge well rounded from the program, even with a concentration in real estate. Specialized coursework can include topics like real estate law, development and finance, estate economics, urban fiscal policy, policy and private development, international real estate markets and the aesthetic considerations of architecture. The combination of these general courses with more specific ones should produce graduates who are able to work skillfully on issues related to development, finance, investment, valuation, law and the regulatory environment and urban land economics.
While the real estate market has unstable in some places, in others it's still flourishing, with low prices for land and buildings driving a healthy investment market. Those looking to work in real estate will find that there are still many opportunities out there for success upon graduation. Possible career paths can include upper level management at large real estate firms, starting your own real estate investment business, and a variety of specialty positions within the real estate market. Salaries for this kind of work can vary widely, and are often based partially on the overall success of the company involved. For that reason, it's tough to create an estimate as some people will be pulling in salaries that are six figures and above, while others will make more modest amounts working in a different and possibly less risky market.
Thanks. James.
B-SCHOOL BLOGS
View over 4,500 blogs in our MBA Blogs community today! Share your journey, meet new friends, and expand your network. Connect with MBA students, applicants and alumni from Columbia, Kellogg, Notre Dame, and more! Become a blogger today! Here's an excerpt:
ThePerfectionist MBA Internship Final Presentation
By Britt
For those of you following along, I had my final presentation for my MBA summer internship with Darden Restaurants, this last Friday. I'm pretty sure I practiced that presentation 20+ times, and I think it paid off for my self confidence and comfort with the material. It was hard to pack 10 weeks of work into 20mins of power point slides, but with some creative animation and robust talking points I managed to get it in at just under 19 mins. What was odd was that during the presentation, I actually had a moment of pause in my head and was sad that the presentation was almost over. I had been so focused on this presentation for so long that it was sad to see it end.
So now what? Well, we have another 2 weeks with the internship program, and I have two other projects to focus on. These are much less intense than the major one, but still challenging. These ones are more analytical in nature and more about presenting a situational analysis than strategic recommendations.
Like most MBA internships there is the ever present anxiety of a full time offer hanging over. I'm not sure when we will find out, but it may be before we leave, so everyone is walking on egg shells until the news drops. I would love to get an offer because I have very much enjoyed the work and the people and think I could both learn a lot from the company and add value. What is hard is that I think every one of the interns would say the same thing. From my conversations with them, everyone would like an offer, so I don't envy those who will have to make the decision. It certainly won't come down to who is most interested, at least. Our program is relatively close knit and small compared to some of the other marketing internship programs, and I wonder if the anxiety or worry over an offer is even greater with them or if it is less because the pool is larger. Please share your experiences if you're willing.
In other news, I've started focusing on next year and what I can do to get prepared. The incoming first years are already very active on our Facebook page and integration websites. I'm looking forward to getting back to Williamsburg and meeting the new class and catching up with my class. We have a great new building too that should provide some great venues for marketing club events. Get excited...
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In a matter of weeks, b-schools will be welcoming new and returning students to campus, and the economy will be much on everyone's mind. As Rachel Arndt reports, the economy will be much in the classroom as well: new classes, new lectures, even a few new programs, all pegged to the global economic meltdown in one way or another. As teachable moments go, this is a big one, so it's heartening to see that b-school faculties aren't letting it go to waste.
The faculties aren't the only ones that have had their thinking caps on this summer. As Geoff Gloeckler reports, the good folks in career services are also getting creative: a few have begun partnering with social media outfits and executive search firms to connect new MBA and EMBA graduates with employers who are in the hiring mood. It's too early to tell if the strategy will work, but it's worth a try?in this job market, anything is.
Until next week?
Louis Lavelle Business Schools Editor BusinessWeek
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