Posts by Matthew Korman

Nov 17, 2017 by

How the House Tax Cuts and Jobs Act Could Affect Grad Students

House Tax Grad Students

Days before the House of Representatives voted to pass the House Tax Cuts and Jobs Act on the morning of Thursday, November 16, budget experts at the Wharton School at the University of Pennsylvania broke down the proposed bill, discussing its broad potential impact.

The breakdown, per the Wharton Budget Model, focused on three principle findings:

  • “This brief reports Penn Wharton Budget Model’s (PWBM) dynamic analysis of The House Tax Cuts and Jobs Act (TCJA), as amended and reported out by the Ways and Means Committee on November 9, 2017.”
  • “After including the tax bill’s effects on economic growth, TCJA is projected to reduce revenues between $1.5 trillion and $1.7 trillion. Debt rises by about $2.0 trillion over the same period. Looking beyond the 10-year budget window, by 2040, revenue falls between $3.6 trillion and $4.4 trillion while debt increases by $6.4 to $6.9 trillion.”
  • “In 2027, GDP is between 0.4 percent and 0.9 percent higher than with no tax changes. By 2040, the difference between GDP under the House tax bill and current policy is between 0.0 percent and 0.8 percent, due to larger debt.”

The research focused on broader implications, rather than zeroing in on how the bill potentially effects different socioeconomic classes. In conclusion, the research “projects that The House Tax Cuts and Jobs Act reduces federal tax revenue in both the short and long-run relative to current policy. In the near term, there is a small boost to GDP, but that increase diminishes over time.”

Brian Naylor at NPR notes that the bill was passed mostly on bipartisan terms, with Republicans in the U.S. House of Representatives largely pushing it through to the Senate without much push-back. “The vote was almost along party lines, with no Democrats voting in support of the bill and some GOP defections over provisions in the measure that would eliminate important tax deductions taken by constituents in some high tax states,” he writes.

The bill is less likely to pass in the Senate as it did in the House, according to reports from the New York Times. If it were to, however, the new legislation would directly affect graduate students across the board—including MBA students.

Section 117(d) of the bill, which can read here, indicates that all graduate students that receive any kind of tuition waiver will still have to pay taxes on the removed costs. For MBA students at schools like the Tepper School of Business at Carnegie Mellon University, this could mean a year-end cost increase of at least 25 percent, if not more. For students in Ph.D. programs, which often give tuition waivers to help bring in valuable research, the costs can be significantly higher, according to CNBC.

“This makes graduate school unattainable for anybody not already very well off,” 24-year-old grad student Kelly Balmes told NPR“It also creates a diversity problem, which graduate STEM programs already have.”

You can read Wharton’s budget analysis here.

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Nov 16, 2017 by

Harvard Business School Tops Bloomberg Businessweek Ranking

harvard bloomberg businessweek ranking

For the third straight year, Harvard Business School reigned supreme in the annual Bloomberg Businessweek “Best Business Schools” ranking, topping the Wharton School at the University of Pennsylvania and MIT Sloan School of Management. In joining HBS on the medals podium this year, those schools both saw significant gains over last year, climbing from sixth and seventh respectively.

Rounding out the top five this year is the University of Chicago Booth School of Business —holding steady year over year at fourth—and Stanford Graduate School of Business, which fell from second place in 2016 to fifth this year.

The methodology Bloomberg Businessweek uses to arrive at its annual MBA ranking involves weighting each of five principle factors. Employer surveys account for 35 percent of a school’s score. Alumni surveys account for another 30 percent. And a combination of current student surveys, salary rankings, and job placement together account for the remaining 35 percent of the final score.

High Risers

Ten out of the top 20 ranked schools in the 2017 Bloomberg Businessweek ranking advanced at least one spot over last year. Wharton and Sloan each managed to leap four spots, boosted by high praise from employers and hefty salary benefits for recent graduates. The University of Washington Foster School of Business also managed to jump from 19th to 15th overall this year, thanks largely to its top ranking as the nation’s best business school for job placement.

The Cornell S.C. Johnson Graduate School of Management and the UCLA Anderson School of Management both saw a rankings jump of three spots, with Johnson moving up to 13th and Anderson coming in at 19th.

The year’s biggest winner, however, may be the Penn State Smeal College of Business, which jumped a whopping 12 spots from last year’s 37th to come in at 25th in 2017. It wins the award for the year’s biggest overall rankings increase. The USC Marshall School of Business also saw a momentous climb this year, sidling up eight spots from 38th last year to 30th this year.

In the latter half of the rankings came another one of this year’s biggest risers, with the Terry College of Business at the University of Georgia jumping 11 spots from last year, up from 65th overall to 54th. Elsewhere, the David Eccles School of Business at the University of Utah, the Whitman School of Management at Syracuse University, the C.T. Bauer College of Business at the University of Houston, and the Pepperdine University Graziadio School of Business and Management all saw a jump of at least seven spots in the new ranking.

Once Mighty, Now Fallen

Stanford GSB, Duke’s Fuqua School of Business, Dartmouth’s Tuck School of Business, and Jones School of Business at Rice University may all be feeling a wee bit dizzy. Last year Stanford shot up to second from seventh the year before, but this year it finds itself demoted to fifth. Duke’s Fuqua School, which last year celebrated a momentous jump from eighth to third, this year fell back down to seventh. Dartmouth’s Tuck School of Business, which had one of last year’s biggest gains, rocketing up nine spots to break into the top five from a mere 14th place finish the year before, this year finds itself at seventh. Similarly, Rice Business, as the Jones School likes to be called, which last year catapulted 11 spots to number eight, this year slipped to tenth. But at least all maintained their footing within the top 10.

Emory’s Goizueta Business School and the Texas A&M Mays Business School, for their part, slipped out of the top 20 altogether. Goizueta slipped just slightly, from 20th to 21st, and Mays slid from 18th to 22nd. The University of Virginia Darden School of Business also stumbled, slipping from 12th last year to 17th this year. But the Charlottesville school at least managed to remain in the top 20, thanks in part to strong scores in the student survey and salary categories.

No school, however, lost more ground than the George Washington University School of Business, which fell an eye-popping 14 spots from last year, losing its place among the top 50 business schools in the United States.

Bloomberg BW has made multiple changes to its methodology in recent years, resulting in significant volatility in terms of where schools fall on the list even when not much has changed year over year at the individual schools themselves. This has led many to question the credibility of the ranking overall. That said, Clear Admit’s Alex Brown found this year’s results easier to swallow than some in recent years. “This ranking seems more reasonable to me this year,” he says. “Each of the M7 programs are in the top 10, and the schools I would consider in the top 16 are all in the top 20.”

You can view the complete 2017 Bloomberg Businessweek rankings here.

This article has been edited and republished with permissions from Clear Admit.

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Nov 13, 2017 by

Fox Temple EMBA Jumps in New Financial Times Ranking

Fox Temple EMBA Financial Times

When it comes to MBA rankings, the Temple University Fox School of Business is usually remarked for its highly-praised Online MBA. But focusing solely on the business school’s remarkable digital offering overlooks its increasingly well-regarded executive business program.

Last month, the school earned an immense boost in the Financial Times 2017 Executive MBA program rankings, climbing up to 56th from 73rd overall last year—the highest spot in the school’s history. The annual list is typically dominated by joint EMBA programs, such as the Northwestern University Kellogg School of Management and School of Business and Management of The Hong Kong University of Science and Technology’s Kellogg-HKUST EMBA program, which came in 1st overall. In fact, only one non-joint EMBA—the Oxford Saïd School of Business’ EMBA—made it into the top 10.

The Fox School of Business EMBA program came in 10th overall among U.S.-only programs on the new list, as well as 7th among northeastern EMBA programs, and 2nd overall among business schools in Pennsylvania. FT praised the program in particular for it’s “global immersion experience” (ranked 3rd in the U.S.) and for progress students make three years after graduation (ranked 4th globally).

In a press release, Fox School of Business Dean Dr. M. Moshe Porat said, “These latest rankings from Financial Times are indicative of our program’s growing reputation, strength, and return on investment.”

“Further, global immersions and our worldwide partnerships afford students the opportunity to gain global business savvy and study internationally, all through an immersive learning experience,” he continues. “These details continue to set apart our program.”

The Fox School of Business at Temple University.

Michael J. Rivera, Ph.D., Associate Professor of Strategy and Entrepreneurship and Fox EMBA Academic Director, recently spoke on the why the school has seen its ranking ascension, saying, “It is not easy to boil the reason for Fox’s rise in the EMBA Financial times rankings to just one principle, but if I did, I would have to say that it is our commitment to continuous improvement across all areas of our programs.”

On the recent evolution of the program, fueling its incredible rise in the rankings, Rivera remarks, “Over the past three years, we’ve overhauled our program entirely. Repositioned with a strong understanding of the market, we strive to understand the value our students need us to deliver and be curricularly relevant in the eyes of industry.”

Like many of the world’s top-rated programs, the global experience factor of the Fox EMBA heavily contributes to its overall quality. Rivera, who teaches his Creativity, Entrepreneurial Thinking and Innovation Strategy course in multiple international locations, adds, “The Fox EMBA program has numerous campuses globally where we offer our program – Bogota, Lima, Paris, Casablanca, Shanghai, and Tokyo. Stopping at these various campuses is helpful because it keeps me connected with the students and gives me an opportunity to observe the various programs in action. The on the ground insight supports our ability to be aligned and work as a team, even though we are physically in different locations around the world.”

Breaking Down the Benefits

The 48 credit program’s benefits for students is fairly self-explanatory. Fox EMBA graduates earn an eye-popping $156,426 annual salary three years after graduation, as well as a $26,000 bonus increase by the end of the program.

For a business school that may not be casually grouped with Ivy League competition, Rivera believes the success of the EMBA and its graduates comes from the school “punching above its own weight.” This is possible, he says, “because of our dean who is truly entrepreneurial and innovative. His leadership has empowered people to drive change and doesn’t set boundaries on what is possible.”

The FT ranking notes that Fox EMBA grads have seen financial benefit increases across the board, from salary jumps and promotions (4th best among qualified EMBA programs), as well as increases in female and international board members.

Fox EMBA applicants typically join the program with 10 to 15 years of experience, with a limit of 90 students per academic year (45 per cohort). The program can be completed in as little as 16 months and a GMAT waiver is available for select applicants.

For more information on the Fox EMBA, click here.

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Nov 10, 2017 by

Do Social Networks Affect Our Brains? Two Tuck Professors and a UCLA Professor Research the Truth

social networks

We’re you surprised by the results of the 2016 election? According to Tuck Associate Professor of Business Administration Adam Kleinbaum and his research partners—Dartmouth Associate Professor of Psychological and Brain Sciences Thalia Wheatley and UCLA Social Psychology Assistant Professor Carolyn Parkinson—you can blame social media.

In their latest paper, “Spontaneous Neural Encoding of Social Network Position,” the group reviewed how surrounding ourselves with a close-knit group of like minds, such as on social media, can have real-world consequences in politics, business, and more. According to their paper, there’s something called the “naked emperor effect” that occurs when we fall into the trap of only relying on information from trusted networks. The phrase, taken from The Emperor’s New Clothes, explains the tendency of people to place themselves in a bubble to exchange information that no longer holds true.

For their research project, Kleinbaum and Wheatley set out to answer the question, “Do friends see the world in the same way? And if so, what are the implications of that?” To gain insight into the question—including how social networks interact with the physical structure of the brain—they asked 42 first-year Tuck students to watch a series of videos while hooked up to an fMRI machine. They found some interesting results.

According to the scans, the more similar two people’s neural responses the more likely that they would be friends. From this, the authors’ surmised that people who have similar world views are more likely to be friends and that spending time together causes “neuroplastic convergence,” or a physical change in the brain to react similarly. Basically, the human brain can and will evolve to recognize one’s place in a group.

The implications of this research can have some profound effects for companies. Since most people tend to interact with like-minded people and to increase cohesion with their network overtime, this can create a false sense of security. The key is to help your employees be exposed to different ways of thinking.

“Executives worry a lot about being able to anticipate the next big thing, or being disrupted if they fail to anticipate the next big thing,” Kleinbaum explained. “Being exposed to different ways of thinking helps us break out of our thought worlds and imagine possibilities we otherwise might never have thought of.”

To read a more in-depth review of the research paper visit the news release on the Tuck School website. Or you can find the full paper in the April issues of Nature Human Behavior.

This article has been edited and republished with permissions from Clear Admit.

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Nov 1, 2017 by

Getting To Know The Denver Metro

denver metro

Resting beside the scoping silhouette of the Rocky Mountains lies Denver, the 19th most populous metro area in the United States, and arguably its most serene, uniquely blending urbanization and naturalism.

As the Denver metro continues to expand and its economy continues to swell, we at MetroMBA are expanding as well. As we continue our coverage of the best MBA offerings in North America and the UK, we welcome our readers to take a look at the best business schools Denver has to offer.

Getting To Know The Denver Metro

If you haven’t heard already, Denver—The Mile High City—rests one mile [5,280 feet (1,609 meters)] above sea level. For those already familiar with the joyous overture of altitude sickness (bring a water bottle—everywhere), this not-so-fun-fact is only a small part of Denver’s academic environment. Located only several minutes south of center city Denver is the Daniels College of Business at the University of Denver. Founded in 1908, Daniels is among the eight oldest business schools in the United States, and features over 2,200 combined graduate and undergraduate students. Named after Bill Daniels, who donated an immense grant to the institution, the school officially changed its name from the College of Business Administration to the Daniels College of Business in 1994.

The school is routinely lauded by the likes of U.S. News, Forbes, and the Financial Times for its highly-recommended entrepreneurial and Executive MBA programs, as well as the MBA@Denver Online MBA. For the 2017-18 academic year, the Daniels full-time MBA (known as the Denver MBA), will cost students $69,391. This is just shy of the average Daniels MBA graduate average starting salary of $69,842. About 68 percent of Daniels’ graduates earn a full-time job just three months after graduation.

Located right in the middle of center city Denver is the Colorado University Denver Business School, which features five different MBA program offerings, including: a full-time Professional MBA; an 11-month accelerated MBA; the CU Denver Business School Executive MBA; the Health Administration MBA; and the highly-ranked Executive MBA Program in Health Administration, which is regarded by U.S. News as one of the 25 best “graduate programs in health services administration.” The UC Denver Business School, which was originally part of CU Boulder, has a second location 20 miles south of its center city location at the Liniger Building, formally part of CU South Denver.

Its original home, the University of Colorado Boulder, houses the most highly-regarded business institution in the state: the Leeds School of Business. Ranked among the best business schools in the country by both U.S. News and Forbes, Leeds is located less than 30 miles northwest of center city Denver. It offers both an exceptional full-time and Evening MBA, enrolling around 300 total students in both programs.

The accredited business school is, in fact, two years older than the aforementioned Daniels College of Business, making it the oldest business school in the state. Leeds holds a staggering 97 percent graduation rate for MBA students, who earn an average of $80,123 upon receiving full-time employment. MBA students that graduate from Leeds have been recently employed by notable companies like Deloitte, McKinsey & Co., Microsoft, Oracle, and more.

The Leeds School of Business at CU Boulder

Travel about an hour north of Denver and you’ll find the Colorado State University College of Business, located in Fort Collins. The CSU College of Business, located on the north end of the CSU campus, hosts a myriad of well-rounded MBA programs, including the universally well-regarded Online MBA—ranked among the 20 best in the world by the Financial Times. The MBA program is also one of the most affordable in the state, with current full-time tuition coming at a total cost of $40,368, and $40,897 for part-time students.

Colorado State University

The Denver Metro Business Community

After the federal and state government, both the first and second largest employers in the state, Denver is home to several of the country’s largest healthcare institutions, including American Medical Response and DaVita, as well as large employment branches for companies like Kaiser Permanente. The metro area is also home to the famous Coors Brewing Company, as well as more than 160 other brewing companies, which helped the city earn the nickname “The Napa Valley of Beer.” In addition, Denver is the original home of Western Union, Frontier Airlines, and multiple fast food chains, including Chipotle, QDoba Mexican Grill, and Quizno’s. According to the U.S. Bureau of Labor Statistics, the city has also seen employment figure increases in almost all industries.

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Oct 27, 2017 by

German Graduate Students Head to Mercer Business

german mercer business

For the first half of October, the Mercer University Eugene W. Stetson School of Business & Economics hosted 40 FOM Hochshule students from Essen, Germany. The select students participated in a series of workshops, seminars, and more.

With their participation in the Oct. 2-13 program, the German students earned Lean Six Sigma Green Belt certifications as well as university credits. Along with the aforementioned workshops and seminars, students in the two-week program also visited the Atlanta Tech Village—a massive co-op hub (the fourth biggest in the U.S.) that houses companies such as SalesLoft and Namely, as well as the city’s chamber of commerce—and the SweetWater Brewery.

Forty students gather from the FOM Hochshule, the university of applied sciences in Essen, Germany/via Mercer

On the international program, Dr. Markus H. Dahm from FOM Hochshule, says (translated), “The combination of Lean Management and Six Sigma enables organizations to increase their productivity, achieve higher quality, and remain competitive in the long term. This basic course offers an ideal introduction to the topic.”

In a recent press releaseDr. Eric Kushins, Assistant Professor of Entrepreneurship and Director of Executive Programs at Stetson said, “The Center for Executive Education would like to thank Dean Susan P. Gilbert for helping to establish this relationship and for providing support for this program. The training would not have been so well received without the excellent teaching from Dr. Myriam Quispe-Agnoli, Dr. Beth Chapman, Dr. Nik Volkov, and Joseph Briner.”

“And a special thanks to Dr. Michael Weber and Dr. Julie Petherbridge for teaching and assisting with the logistics and organization,” he also added.

Click here to read more about the two-week stay and what you need to know to earn a Lean Six Sigma Green Belt certification.

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