Friday News & Notes: The Trump Effect, Career Bumps And Early Careers
Good morning and happy Friday!
Here are a few stories you may have missed from the week that was …
BloombergBusinessWeek writer Nick Leiber has found a slow but noticeable trend among incoming international business school students that does not bode well. Leiber cites a Graduate Management Admission Council (GMAC) survey from March that found nearly 40 percent of prospective international MBA students “were less likely to pursue a graduate management degree in America as a result of the 2016 election.”
Tim Mescon, a vice president at AACSB International, a B-school accrediting group, attributes it to the ‘Trump effect.’ With increasing concern over the president’s travel ban, anti-immigration rhetoric, and proposals to tighten visa rules, ‘students and their families begin to look for alternatives,’ he says. ‘This is a very dangerous scenario for higher education in the U.S.’
With uncertain degrees of work and industry volatility, employees need foundational assistance. That remains true for working class blue collar employees as well as high-level MBA graduates. A new piece from Financial Times writer Miranda Green looks at a handful of primary examples; from those that lost finance jobs during the Great Recession ten years ago, to those who are simply casualties of corporate restructuring. There is no complete safety net, but with a strong alumni network, there is a greater sense of security.
New findings from a recently released “U.S. News Short List” revealed the ten business schools in the United States that had the lowest average work experience for its incoming classes. Topping the list was the Jack C. Massey Graduate School of Business at Belmont University in Tennessee, which sported a confounding 0 percent in the survey (which included 126 total business schools). How that is actually possible is a bit of a mystery, considering it was the only school in the country to have no students with professional work experience.
Following in second place was the Gatton College of Business and Economics at the University of Kentucky and in third was the George Mason University School of Business.
The Stanford GSB Seed has been a foundational resource for many up-and-coming business enterprises, both domestic and international. A new piece from Clear Admit takes a look at the life of Nigeria-born Femi Oye and how the Seed program has helped him cultivate and invest in his business, providing environmentally-friendly biofuel stoves throughout Africa.
Building on its success in Africa, Stanford yesterday announced that Seed is now expanding to India. ‘The impact of Seed in West and East Africa has been astounding, with nearly two-thirds of participants reporting increased revenue and job creation,’ Stanford GSB Professor and Seed Executive Director Jesper Sørensen said in a statement. ‘We are five years into our journey, and just getting started. We believe—and have seen first-hand—that this unique model can help some of the most dynamic business leaders in these regions drive the kinds of firm growth that underlies sustainable regional prosperity. We are very eager to see its impact in India.’
In the mid-May issue of The New Yorker, reporter Nathan Heller takes an incredibly detailed dive into the work of the ever-evolving gig economy—a phrase that may also be known as the the sharing, on-demand, or platform economy.” In his journey he speaks with those that have cultivated their careers and side-gigs around familiar service apps like AirBnB and TaskRabbit. Heller’s stories are that of people who find profound joy from their new, personal work environments, but places an unsettled dread of uncertainty towards where the new economy could end up.
The American workplace is both a seat of national identity and a site of chronic upheaval and shame. The industry that drove America’s rise in the nineteenth century was often inhumane. The twentieth-century corrective—a corporate workplace of rules, hierarchies, collective bargaining, triplicate forms—brought its own unfairnesses. Gigging reflects the endlessly personalizable values of our own era, but its social effects, untried by time, remain uncertain.