All Articles Tagged "mba"
Supermodel, talk show host, and media mogul, Tyra Banks is never quite done reinventing and reforming herself. Just when we thought we knew what was next for her, she’s gone and surprised us again. Tyra is currently enrolled in classes in business. But get this, she’s not just enrolled in any old school, no she’s attending Harvard’s Business School.
Yup! The 37 year old is taking an executive education course targeted toward entrepreneurs. Good for her!
Graduates of a good MBA program always have access to the best jobs in the market. It not only makes them stand out but also gives them that edge over many other qualified applicants, Masters of Business Administration or MBA that equips students with the required skills to make crucial business decisions, understandin g the working of major corporations and empowers them to start their own company is among the most highly sought after program in the world. An MBA degree is not just a desirable advantage but an essential qualification in today’s industry.
Renowned business schools are known for churning out the best business leaders and CEOs in the industry. With over millions of degrees being awarded each year, the popularity of the program only seems to be following an upward trend with time. International businesses are also seeking the business expertise and prowess of overseas working professionals and executives. This opens up a gateway to incredible opportunities in different parts of the world. MBA graduates have a broad outlook and they truly understand the concept of globalization. An MBA in finance or marketing provides the required support to help you carry out your responsibilities in acclaimed organizations and accompanies across the globe.
by Sue Naylor
The MBA admission process is an intensely competitive one that involves putting the right paperwork together, staying focused and impressing the panel who will decide your future. Talent and business acumen go a long way in moving up the career ladder and what business schools seek is the required raw material to create good managers and executives. For example, students who are interested in pursuing an MBA degree in marketing must be talented enough to sell and market themselves just like they would do with an incredible product that is ready to be launched.
Leadership traits are also very important and business schools are interested in your professional experience and presentation skills apart from your academic profile and other qualifications. They are interested in accepting students who exhibit leadership skills and can be relied on to make major business decisions in the future and help companies grow and reap profits.
Well-defined professional goals and maturity that are gained after a few years of work experience come in handy when you apply to a business school. The admissions panel also needs to be convinced that you are ready and willing to take on the demanding course of study as a part of the MBA program. This is the main reason all business schools accept only those candidates who have cleared tough analytical, reasoning, verbal and quantitative tests before they even apply for the program of their choice. Intellectual strength combined with achievement in the classroom goes a long way in determining your ability to be a top notch student.
by Sue Naylor
Online MBA courses offered by business schools score over the in-class courses due to a number of factors. The first factor is the cost factor. Regular MBA courses cost a lot more because of the expenses associated with attending the classes conducted by renowned professors, costs incurred as student fees, living expenses and other miscellaneous expenditure. Online MBA degrees negate the overhead costs of the university or the institute and this gives students a cost-effective and cost-efficient option to pursue one of the most sought after degrees that have a great demand in the job market. Potential recruiters also accept these online MBA degrees while choosing prospective candidates.
Signing up for an online MBA course with a business school also offers a lot of flexibility which is the second factor. Working professionals who work fulltime need not take time away from work to fulfill their academic obligations. With easy access to virtual classrooms where study sessions are conducted online, they can attend the classes of their choice at a convenient time. Online learning courses are offered by many renowned universities.
The third factor is feasibility of study as students do not have to remain unemployed throughout the duration of the course which is the case while attending business school. Students can pick the required modules of their choice and they have to pay only for the modules that they select. Internationally acclaimed schools business schools enable executives to work full-time while pursuing the MBA degree. All that is needed is thorough research while choosing the MBA college to pursue an online MBA.
By Brittany Hutson
The lingering effects of the recession just keep on coming; recently, Bloomberg Businessweek reported that compared to 2008 graduates of MBA programs, 2010 graduates will have to wait an additional year to see a return on their investment due to higher tuition costs and lower starting salaries post-graduation.
Though this may not come as a complete shock, it is still discouraging to hear that those who seek additional education will have to wait longer than what may have originally been intended to pay back their debt. Bloomberg Businessweek calculated two years ago that it would take members of the MBA Class of 2008 an average of 5.6 years to recoup their MBA investment. For the Class of 2010, the average jumped to 6.5 years. The increase is a result of salaries post-MBA being down 6 percent from the 2008 average, while pre-MBA salaries were higher. Then of course, there is the increase in the overall cost to attend B-school.
Not surprisingly, graduates will take longer to recoup the costs associated with their degree at schools considered to be “top U.S. programs,” which include Harvard Business School and the University of Chicago’s Booth School of Business. State schools such as Texas A&M’s Mays Business School and Michigan State Broad College of Business are the best option, according to Businessweek. For example, Texas A&M’s ROI is just under three and a half years—the benefit here is that their program is relatively shorter at just a year and a half so costs are lower.
(Businessweek) — Ever since the dot-com bust, and particularly after the financial meltdown that began in 2008, all anyone in business schools seems to talk about is whether or not the MBA is still a relevant and practical degree. Do people need MBAs—particularly degrees from elite b-schools—to become successful chief executive officers with hefty paychecks? Exclusive new research suggests the answer is “no”. Bloomberg Businessweek asked compensation consultancy Equilar to analyze the pay disclosures of companies with annual revenue of more than $1 billion and to compile a list of the highest-paid CEOs.Aaron Boyd, head of research at Equilar, reports that more than half of the 50 highest-paid executives on the list lacked MBAs.
(Businessweek) — No longer can students rely on the traditional on-campus recruiting process. More than 40 percent of B-school career services officers saw a decline in on-campus visits this spring, according to the MBA Career Services Council (CSC). And when companies do come to campus, instead of having a dozen positions to fill, they might have two or three. Starting salaries among all MBAs surveyed by Bloomberg Businessweek have dropped nearly 6 percent, from an average of $104,500 in 2008 to $98,400 this year. And students’ plans are changing, with many settling for lesser positions. More than half of those surveyed expressed concern about the job market.
For many, the decision to get an MBA is among the biggest financial commitments of one’s life. The tuition for a traditional MBA program is $25,000 per year for a lesser known program to $350,000 for a four year program at a top tier school. The combined tuition and living expenses are above the average annual wage for adult Americans.Paying for an MBA is like taking out a mortgage on one’s career, with no guarantee of future earnings to pay for the degree.
According to best-selling business author and blogger Seth Godin, an MBA is a screening tool for job placements such as being a consultant or an investment banker. He wrote, “it’s hard for me to understand why this is a better use of time and money than actual experience combined with a dedicated reading of 30 or 40 books.”
One of Godin’s followers was recently featured on CNNMoney and Fortune.com for espousing the same sentiments. Josh Kaufman, a 28-year-old entrepreneur and former assistant brand manager for Procter & Gamble, has become a well known MBA basher, based on his Godin’s writings. Kaufman applied Godin’s writings to his own personal experience and is now using it to turn a profit.
Five years ago, Kaufman was working at P&G as an assistant brand manager after graduating from the University of Cincinnati. Most of his colleagues held elite MBA degrees, which was intimidating to Kaufman. So, he began to self-educate by reading numerous classic business textbooks such as the “Essentials of Accounting,” to “Competitive Strategy” by Harvard professor Michael Porter and “The Effective Executive” by the late management guru Peter Drucker. Kaufman said, “After I went through the self-education process, I felt like a peer, I was able to walk into a boardroom and hold my own with people who had graduated from Stanford and Wharton. It was very exciting.”
Kaufman then created PersonalMBA.com, an online self-education program and penned a book “The Personal MBA” to pass along what he feels is an economically viable alternative to attending an accredited MBA program. He started doing coaching and consulting for $1,000 a month, created a 12-week online crash course delivered live and on video for $997. His website features what he considers to be the 99 best business books that lay out all the basic principles of business and a community in which to discuss the ideas with others. Kaufman claims he is already pulling down what a freshly minted Harvard MBA would make upon joining Boston Consulting Group or McKinsey & Co. “Without any of the debt,” he quickly adds. He also posted a “manifesto” to explain the idea to newcomers and to urge them to “skip business school” and “educate yourself.”
Kaufman presents an interesting and viable alternative to paying for an MBA program. The pursuit of knowledge both inside and outside of the classroom is what keeps the mind sharp and competitive. However, it is questionable just how many candidates will actually get to the interview with an MBA from an online study program by a self proclaimed educator. The notorious Godin says that both experience and education contribute to career success. It is questionable how many candidates will get through the door without the educational background the employer is seeking. Kaufman was fortunate in obtaining the needed exposure to rub elbows with the upper echelon when he joined P&G. However, he was placed there after graduating from the University of Cincinnati by virtue of the school’s cooperative education program. He then decided to rise to the level of his peer group through self-study.
For the low cost of Kaufman’s program, it is certainly worth a shot for those that would seek an MBA but find it cost prohibitive. However, both Godin and Kaufman state that experience counts just as much as your education. Kaufman would likely not have been inspired to branch out on his own without it. But my advice is get the best education that you can afford, and keep your day job. In doing so, your success will find you.
Candi Sparks is the author of the “Can I Have Some Money?” books series.
(CNN Money) — “Do you want to know who gets into Harvard Business School and how it works?”
Sandy Kreisberg asks the question as if he’s about to divulge Coca-Cola’s (KO, Fortune 500) secret formula to a rival company spy. In Darwin’s coffeehouse off Harvard Square, the long-time MBA admissions consultant leans across a table with a serious air. He reaches into a satchel and pulls out a thick folder bulging with more than 100 resumes from clients who applied to Harvard Business School last year.
(Brand Makers News) — As entrepreneurs we often rely on our natural business instincts to navigate the challenges we face as smallbusiness owners. We are independent self-starters and we’re willing to teach ourselves whatever we need to know to keep our company’s running strong. While we will read books and scour the web for the answers we need, many of us fail to consider traditional M.B.A. programs as a way to help us succeed in the business world.