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Holiday Debt Hangover: The Dangers of Contactless Payment
The holidays may be over, but for many they are far from forgotten. For kids, the holiday joy continues with toys and games, but for adults, the holiday hangover might not be as pleasant. In fact, according to Niro Sivanathan, bssociate professor of organisational behaviour at London Business School (LBS), the holiday hangover could mean an unprecedented amount of festive debt. The truth is that in 2016, more people than ever used touchless payment to make their holiday purchases, and that comes with some consequences: the holiday debt hangover. Continue reading…
Online MBA Programs in Houston
There’s something to be said for living, working and going to school in Houston. According to the 2013 Annual Cost of Living Index, Houston has the third lowest overall cost of living among the nation’s most populous metros. As for housing prices, those are also 36.6 percent below average. And when it comes to higher education, last year more than 403,300 students were enrolled in higher education in the Houston area, and more than 71,700 degrees and certificates were awarded for the 2013-14 year.
So, there’s no doubt that Houston is a great place to live, work, and learn but what about if you can’t make a move to Houston or you can’t take time off of your job to earn an MBA? What then?
There’s good news. There are two MBA programs in Houston that offer an online study option for the ultimate in flexibility. And to help you make the best decision on where to go to school, we’ve outlined the top online MBAs below. Continue reading…
Top Employers D.C.
When you think about Washington, D.C., the first thing that probably comes to mind is politics, but the DC area offers so much more. The District of Columbia is officially home to 4.8 million people with a median household income of $93,200 and 48 percent of the population having attained a college education. The city is also home to all three branches of the U.S. federal government as well as 176 foreign embassies.
But working for the federal government isn’t your only option in the city. Yes, the federal government is the area’s largest employer, but the public school systems in D.C. hire the most number of people. And if neither of those sounds interesting, D.C. is also the headquarters of the World Bank, the International Monetary Fund (IMF) and the Pan American Health Organization (PAHO). Plus, there are many large employers in the region.
So, if you’re thinking about living and working in Washington D.C.—post earning your MBA from Georgetown University’s McDonough School of Business or George Washington University’s School of Business—where should you work? There are plenty of options. It all depends on what you’re looking for. We’ve outlined a list of the top employers DC has to offer based on size, reputation, benefits and more. Continue reading…
University of Washington Welcomes Tent City to Campus
Thanks to a campaign by students at the University of Washington, Seattle’s homeless population has a new place to sleep. A 10,000 square-foot encampment—part of a roving tent city—has been set up in a parking lot on the school’s west campus. It’s a convenient location for residents who work near the city’s center and will welcome dozens of people at the school’s invitation. Continue reading…
Trump Appoints Controversial UC Irvine Professor Peter Navarro
Paul Merage School of Business economics professor Peter Navarro, one of the nation’s harshest critics of China, has just earned a seat on President-elect Donald Trump’s cabinet.
As a professor with the business school for over 20 years, Navarro penned nine books, most of which unmistakably mark China as a threat to the U.S. and the world-at-large. Several of his published works include The Coming China Wars, Death by China: Confronting the Dragon – A Global Call to Action and Crouching Tiger: What China’s Militarism Means for the World.
Death By China was also adapted into a short documentary feature narrated by actor Martin Sheen, in which he argues that the American people must “help defend America and protect your family – don’t buy ‘Made in China’.”
Navarro acted as a special advisor during Trump’s campaign, likely driving his ideological attacks against global trade, Chinese manufacturing and the loss of U.S. jobs.
The announcement of Navarro’s appointment has arrived shortly after several potentially antagonizing tilts between the two economic superpowers. First, shortly after the election, Trump had a phone call with acting Taiwan President Tsai Ing-wen allegedly without previous discretion (the Trump team stated that the call was pre-planned), going against decades of foreign policy agreements. Then, just last week, after China seized a submarine drone, Trump criticized the incident on Twitter. He writes:
We should tell China that we don’t want the drone they stole back.- let them keep it!
— Donald J. Trump (@realDonaldTrump) December 18, 2016
He will head the White House National Trade Council, serving as director of trade and industrial policy.
3 Rotman Grads Named Canada’s Most Powerful Women
If there’s one thing that everyone can agree on, it’s that women are necessary for business. In fact, companies with a female on the board of directors, on average, have a 53 percent higher return on equity. The issue is that though women represent 47% percent of the workforce, they only represent 17 percent of boardrooms, and 4.8 percent of CEOs among the Fortune 500 companies, according to the Forté Foundation.
That’s why University of Toronto’s Rotman School of Management has made it a priority to promote women in business. And their efforts have recently been rewarded with both a Rotman professor and two alumni named to the Women’s Executive Network (WXN) list of Canada’s Most Powerful Women for 2016. The list featured 100 women in total, including several graduates of the Rotman School’s Judy Project and Executive Programs. Continue reading…
LBS Alumni Spotlight: The Retail Industry & Holiday Trends
Unlike the consulting, finance and technology sectors, retail has always been regarded as a safe industry for employment. That’s because no matter how bad the economy gets, the retail industry will never cease to exist as long as people still make purchases. And that’s especially true for the holidays.
Each year during the holidays, on average, UK households spend £794.39 and US households spend $752.00. It’s not a small chunk of change. There’s no doubt that it’s a busy time of year, and many retail companies go all out to bring in new customers and grab the largest percentage of sales. But does that mean it’s a good industry to work in? Continue reading…
Inside the FinTech Industry
Finance has always been one of the hottest MBA industries. In fact, at many top schools such as the Booth School of Business and NYU Stern, over 30 percent of MBA graduates go into the financial industry each year. Why? Because it’s lucrative—the average Finance MBA earns $121,000 a year compared to $104,000 for other specialties—and well respected. However, until now, one thing that an MBA in finance did not offer was innovation.
The finance industry is one of the oldest and most prestigious industries around. It’s built on a foundation of history and careful research; after all, no company wants a CFO who makes decisions based on gut instinct. But, recently, a new side of the financial services industry has started to gain traction: FinTech. Continue reading…
Hot MBA Jobs – Nonprofit Fundraiser
It goes without saying—everybody likes making money. But while everyone loves some extra change in their bank accounts, some really get a sense of accomplishment working directly for a cause or nonprofit corporation.
Jones Full-Time MBA Named Top Ten Program in the U.S.
The full-time MBA program at the Rice University – Jones Graduate School of Business was recently named the 8th best program in the country for 2016 by Bloomberg BusinessWeek, a position which will have implications far and wide for the school and those involved with it.
Top MBA Recruiters: Berkshire Hathaway
When considering where you want to work, there are a lot of things that come into play. Do you want to work in a small startup or a large multi-national corporation? Do you want variety or do you want to become an expert in a particular field? Do you want prestige or would you rather be a worker-bee? The good news is that there are organizations that can fit any desire, including Berkshire Hathaway.
MIT Sloan Lecturer Talks Digital Disruption and Future Monopolies
MIT Sloan recently published an article that rounds up the insights Constellation Research founder, principal analyst and chairman R “Ray” Wang imparted at the Innovative Leadership Series to students “looking to take on—and take over—an industry.”
Wang has had a front-row seat to the “digital disruption of the last decade” as he’s helped his big-name clients “navigate digital transformation.” According to Wang, “More than half of Fortune 500 companies lost money last year while more than half of the companies on the list since 2000 are gone—merged, acquired, bankrupt, or off the list.”
Wang suggests that the reason many companies fail has to do with a focus on “operational efficiency.” Fortune 500 companies, Wang argues, should be asking themselves the tough existential questions related to their mission and business model to help them “figure out the products, the services, the insights, the experiences and outcomes.”
The second major piece of advice Wang offered related to the benefits of data. Simply put: “Data leads to information that can be shared with customers for a fee, in an effort to provide a better service. And it doesn’t cost a lot of money to implement.”
Wang pointed to the successes of “matchmakers” like Etsy and TaskRabbit, which reduce friction and distance between customers and service providers, as evidence that the increasingly streamlined connections between consumers and large companies has and will continue to make middlemen obsolete. “Nobody wants a middleman, unless that middleman is adding value.”
Wang cites Amazon’s “unbeatable” all-in-one “content, network, and technology platform” as one he believes companies across all industries will attempt to copy. But the bigger question is how to partner with—or absorb—other organizations to build “the next set of vertically-integrated monopolies.”
The Top Finance MBAs in Chicago
The finance industry has always gone hand in hand in the MBA. Even as MBAs are becoming increasingly popular in other industries, finance is still the biggest MBA job sector and accounts for 22 percent of all MBA jobs, according to the 2014/15 QS TopMBA.com Jobs and Salary Trends Report. Continue reading…
Diversity and Inclusion at USC Marshall
There’s no doubt that interacting with classmates is one of the best parts about attending an MBA program. That’s because when you surround yourself with excellence, you can’t help but excel yourself. And that’s definitely true at the USC Marshall MBA program. Not only are all Marshall MBA candidates top-tier, but they also arrive with a diversity of ideas and opinions that truly enrich the entire experience. In fact, according to the most recent class profile, 32 percent of the MBA class is composed of women, 32 percent are from outside of the U.S. and 13 percent are underrepresented minorities. Continue reading…
No GMAT/GRE Required at These Houston MBA Programs
There’s a lot of work that goes into your MBA application. Not only do you have to write individual essays for each school and tailor your resume, but you also have to get letters of recommendation and perform well in an interview. And for those bad test-takers, there’s one other element that can leave you in a cold sweat—the GMAT/GRE.
Let’s be brutally honest. Prepping for the GMAT/GRE is stressful and tiring. Who has time to spend hours each week reading a textbook and taking practice exams? For many, it’s a nightmarish process that makes the prospect of getting an MBA a lot less attractive. Even worse, some of the top schools expect GMAT scores above 715 according to U.S. News. But there is good news.
Not every school requires the GMAT or GRE. In fact, six schools in Houston, Texas offer MBA program admission without the test. So, if the idea of testing makes you want to hide in a corner and never come out again, consider applying to one of these schools instead. Continue reading…
SDSU Professor Reveals How CEO’s Get Pay Raises
Have you ever wondered if there were “magic words” that could help get a pay raise? Well, if you’re a CEO who’s dealing with shareholders that might be the case. Taekjim Shin, Management Professor at San Diego State’s Fowler College of Business, discovered that the words “shareholder value” could increase a CEO’s yearly compensation by an average of $116,000.
Best Places to Intern in Houston
Most students pursuing an MBA in Houston already know that success comes from what happens both in and outside of a classroom. The value of networking, competitions and internships is almost immeasurable—but not quite.
Professor to Know: Alex Edmans, London Business School
There’s one thing that every top business school around the world has in common: impressive faculty. That’s because MBA programs know that their offerings are only as exceptional as their professors, and that’s definitely the case at the London Business School.
Faculty at LBS are at the forefront of innovative business thinking. They’re influential business leaders, managers and policy makers who conduct world-class research and teach topnotch courses. In fact, according to a recent review published in 2014, London Business School received a top four rating for its research performance. And there’s no better representation of LBS’s faculty than finance professor Alex Edmans.
About Professor Alex Edmans
Professor Edmans graduated from Oxford University in 2001 with his bachelor’s degree in Economics and Management. From there, he pursued a career at Morgan Stanley working in investment banking and fixed income sales and trading. Then, a few years later in 2003, he went back to school to receive his Ph.D. in Finance from MIT Sloan as a Fulbright Scholar. In 2007, he became a professor at Wharton, earning his tenure by 2013 before moving to LBS. And, so far, Professor Edmans’ teaching career has been prestigious.
Over the past six years, he’s won 14 teaching awards. At Wharton, he was the highest-rated finance professor in the MBA program before his departure and was even chosen as the Faculty Graduation Speaker to the MBA class of 2014. And then, just this year at LBS, he was given the MBA Class of 2016 teaching award for the highest-rated professor school-wide and the Best Teacher: MBA 2016 award.
Outside of his exceptional teaching, Alex Edmans is a prolific researcher, blogger and Twitter user (you can follow him @aedmans). His blog, Access to Finance, covers a variety of topics and excels at making finance research available to anyone and everyone. It’s written for people with a non-finance background who might not normally be interested in finance but want to stay on top of current trends and events.
As for Edmans’ research, his most recent publication was published in the Journal of Financial Economics on October 27, 2016. Titled “The Source of Information in Prices and Investment-Price Sensitivity,” it discusses the value of financial markets to the real economy. Other research topics have included “Equity Vesting and Investment,” “Blockholders” and “Governing Multiple Firms.”
As you can see by just the most basic facts, Alex Edmans isn’t an ordinary professor. But that’s just the surface. We wanted to get to know Professor Edmans, so we asked him five questions about his life and work as a faculty member at the London Business School.
- What do you love most about teaching at the London Business School?
I really enjoy the diversity of the student body—not just nationalities, but also educational and career backgrounds. This brings lots of different perspectives to class.
I also enjoy the fact that I teach core courses. It’s easy to teach an elective since students have self-selected into the class, so you know they’ll like it. The core is challenging because I teach students who may not like finance, may even be scared of finance, and only take it because they have to. I like this challenge. It means that I have to make finance interesting and accessible, and hopefully, students end up enjoying the class even if they dreaded it to start with.
- What do you hope students take away from your research, teaching, and speaking?
Teaching: I would like students to be able to think for themselves and understand the intuition behind the concepts, which they can apply to any real-world situation—rather than just knowing the formulas that they can plug numbers into in order to solve an exam problem.
Research: The importance of large-scale, rigorous, academic research in a world where policy is increasingly formed on anecdote or myth. That “academic” research isn’t irrelevant but has substantial relevance for the real world.
Speaking: I give a number of talks on personal leadership, not just finance. I would like students to choose careers that are personally fulfilling, rather than just the career that happens to be hot at the moment. And I would like students to be mentally present in everything they do, not just physically present.
- In an era where corporate responsibility is becoming more important than ever, what do MBAs need to know and keep in mind?
That companies should do things for intrinsic and not instrumental value—even if there is no clear profit benefit for an action. This applies to your personal life too—to help a classmate even if you don’t clearly benefit from it, or learn something even if it won’t be on the exam.
- Which of your blogs would you most recommend for MBAs to read?
My blog, Access To Finance, aims to make finance accessible to a general audience by taking complex academic papers, or topical issues (such as Brexit or the current debate on executive pay), and making them simple. Which articles in the blog to read depends on the MBA’s interest, and so it’s hard for me to recommend some over others. My Twitter feed @aedmans also aims to showcase simple, accessible articles on real world finance.
I would also recommend two talks that I gave which may be of particular interest to MBAs. One is my TEDx talk, “The Social Responsibility of Business”, on the business case for sustainability, and the other is “Fulfilling Careers and Full Lives”, the final lecture of my MBA course, which is similar to a graduation speech in that it provides general advice for how MBAs can make the most of their talents and opportunities to serve society, but aims to do so in a concrete and actionable rather than sugary and saccharine way.
- What makes your teaching/classes different at LBS?
In every class, I have an “extra-curricular break,” which takes a complex academic paper with real-world relevance and makes it accessible for a practitioner. Indeed, my blog spun out of these extra-curricular breaks.
- While a core class is theoretical and rigorous, I always try to emphasize the evidence to the real world, drawing from my own practitioner and policy experience.
- I cold-call students. This is absolutely not to scare them, but to keep the class interactive and the students engaged, and to give the students practice in solving problems themselves, rather than just following someone else. It also ensures the pace of the class is not dictated by the students with finance backgrounds; cold-calling means that a broad set of students end up contributing.
- I play music before class and during the breaks, and dress down. This is absolutely not intended to be a gimmick. Instead, it is to conduct class in as relaxed an atmosphere as possible, to make students relaxed about asking questions and not be afraid to be cold-called. The music aims to bring energy to the class, which is particularly important when studying finance at 8:15 am on Monday morning!
