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Boston MBA Programs Are Leaders in the Business of Healthcare

Tobin Admissions Counselors Host Online Chat Session Today

Today, Monday, August 19th, admissions counselors at St. John’s Peter J. Tobin College of Business will be hosting an online chat session for prospective MBA students from 12-1 p.m. The purpose of the chat session is to educate future business school students on Tobin’s academic programs and life as a graduate student. Tobin asks that those wishing to participate pre-register before the chat session and then use the link provided to access the chat at the appropriate time.

While online info sessions offer a convenient resource for learning about MBA programs, you should think of them as just one of a number of research options available for prospective MBA applicants. There is no substitute for visiting business schools in person and speaking with students, faculty and staff to determine things like school culture.

We at MetroMBA also strongly recommend researching the academic and extracurricular offerings at each MBA program that align with your interests. Career statistics, in particular, are a great tool you can use to better understand how the MBA program might prepare you for your target field. Doing this type of research prior to in-person or online information sessions, like the one being offered by Tobin, can spark productive questions to ask the admissions counselors about their programs.

Direct from the Dean: Joseph DiAngelo of the Haub School of Business

Joseph DiAngelo has been dean of Saint Joseph University’s Haub School of Business (HSB) since 2000, during which time the student body has doubled, making HSB the largest Jesuit business school in the country. Before that, he was dean of Widener University for  13 years. “I am the longest serving dean in the Philadelphia metro region,” he asserts proudly. Continue reading…

2013 Forté Forum Comes to Boston

The Forté Foundation is hosting Boston’s Forté Forum, an event geared toward women interested in pursuing an MBA, on Tuesday, August 20 from 6-9pm at the Sheraton Boston Hotel. The goal of this interactive event is to help women determine whether or not an MBA will help them fulfill their professional aspirations, and provide an opportunity for various business schools to interact with potential applicants.

Onsite registration will begin at 6pm, as will the School Fair. Running the full length of the event, the School Fair will comprise of admissions members from top U.S. and international business schools, with a special emphasis on local schools. Babson College’s F.W. Olin Graduate School of Business, MIT Sloan School of Management, Simmons School of Management, Boston University’s School of Management, and Boston College’s Carroll School of Management are just some of the local business schools that will be represented at the Forté Forum, in addition to other nationally- and internationally-renowned schools (for the full list of participating MBA programs, please refer to Boston Forté Forum’s web page).

For those interested in speaking individually with MBA graduates about their professional experiences, a networking reception with light refreshments will be held from 6-7pm.

From 7-8pm is the MBA Alumnae Panel, which will feature MBA women in various industries and career stages, and will cover a wide range of topics; such topics  include how they chose their career, what motivated them to pursue an MBA, and the various successes and obstacles they’ve faced.

At 8:15pm, an Admissions Panel made up of seasoned MBA admissions professionals will discuss admissions requirements, researching schools, the application process, and how to finance an MBA.

Online registration has ended, so those wishing to attend will be prompted to register at the door and pay an entrance fee of $5. Attendees are encouraged but not required to stay for the full duration of the event, and may come and go as necessary. Those seeking more information should email forte@fortefoundation.org.

The Rise of the Graduate Degree

In order to become competitive in today’s workforce, more and more people are seeking post-bachelor’s education. Whether through master’s degrees, professional certificates, or non-matriculating adult education, people are supplementing their bachelor’s degrees in an effort to differentiate themselves professionally.

According to experts, a current skills shortage is a significant contributing factor to the 4 million jobs available in the United States. Many of these jobs require specialized education that the third of Americans ages 25-29 with bachelor’s degrees don’t possess.

“There’s some credential creep going on,” Heather O’Leary, a principal analyst for the Boston-based education consulting firm Eduventures, told Boston.com. “Forty years ago, a high school diploma was enough, and a bachelor’s degree was more for high-end positions. That has shifted. Now even for very basic administrative roles, employers are starting to prefer or require bachelor’s degrees. So now it’s a master’s degree that makes you stand out.”

Many graduate programs, in an effort to meet increasing demand, now offer more focused programs that are industry-specific. “A lot of what’s driving the growth in master’s programs is new fields that are emerging,” explains Sean Gallagher, a member of the enrollment and student affairs staff at Northeastern University, citing interdisciplinary industries such as social media and health care informatics as catalysts.

Even more traditional degrees, such as the MBA, are becoming more tailored to certain career paths. Schools such as the Wharton School at the University of Pennsylvania and MIT’s Sloan School of Management offer specialized MBAs or dual degrees in a variety of industries, including real estate, sports management, biosciences, electronic commerce, health care.

In 2012, the Bureau of Labor Statistics released data indicating that the unemployment rate for those with bachelor’s degrees was 4.5 percent, whereas the unemployment rate for those with master’s degrees was 3.5 percent. What’s more, an individual with a master’s degree earns on average $234 more per week and approximately $450,000 more over a lifetimes than do those with bachelor’s degrees. But financial gains are not the only consideration.

“People are being told that in order to move to the next level,” says O’Leary, “they need to have a master’s degree. Without one, it will take you 15 years to get to that next level, and people with a master’s will pass you along the way.”

Smeal Adopts CRM Platform for Admissions and Student Services

The Wall Street Journal’s MarketWatch reported last month on Penn State University’s Smeal College of Business’s recent adoption of constituent relationship management (CRM) platform to automate its admissions process and better manage its recruiting efforts.

Enrollment Rx is designed facilitate admissions, marketing, and enrollment processes for colleges and universities, and runs on the Force.com cloud that is already popular among major for-profit corporations in tracking prospective and current customers. The platform will offer the Smeal admissions committee more robust data on its prospective students and submitted applications, and will also track information that will aid in more tailored outreach and recruitment efforts—presumably increasing the relevance of information to applicants.

Smeal has been using the platform to manage its MBA admissions process since 2011. In terms of potential impact on applicants to the MBA program, streamlined operations and better tracking on the back end will likely translate to more prompt application processing and more effective communication. Applicants are also able to log into the system to check on the status of their materials (which could be a blessing or a curse, depending on one’s anxiety management style).

The Smeal administration is reportedly considering an expansion of the CRM solution to other offices and functions within the college, including student services and career services for MBA students, as well as alumni relations. This suggests that Smeal MBA students may continue to benefit from both tracking of their personal requests and activities, as well as from high-level data on student needs and service utilization that has the potential to inform and improve school policy in an ongoing way.

Direct from the Dean: M. Moshe Porat of Temple’s Fox School of Business

When Dr. M. Moshe Porat became dean of Temple University’s Fox School of Business 17 years ago, the school was regarded as a good, local commuter school. In a recent Q&A with MetroMBA, Porat shared that today Fox is well on its way to being known as one of the best public-urban business schools in the country. Continue reading…

This Week in Philly Metro MBA Information Sessions

Happy Monday! If the start of another work week’s got you daydreaming about your next career move, here’s just the thing to help flesh out your escapist fantasies: a round up of this week’s MBA information sessions in the Philadelphia metro.

On Tuesday, August 13, Drexel University’s LeBow College of Business will offer one-on-one information sessions on its Malvern campus between 10:00am and 6:30 pm. Designed for prospective students who are already familiar with LeBow’s MBA program, these meetings provide a chance to ask personalized questions of admissions representatives.

Meanwhile, LeBow will offer a more general group information session on Drexel’s main campus on Wednesday, August 14, from 6:00–7:30pm. Attendees will hear an overview of each of LeBow’s MBA offerings, participate in a question and answer session, and have the opportunity to network with other participants. Details about attending both of these LeBow info sessions can be found on the school’s events page.

West Chester University will hold an online information session on its MBA program, also this Wednesday, August 14, between noon and 2pm. Interested attendees can register online through the WCU event webpage.

LaSalle University will hold an online information session for prospective students interested in its Part-Time and Saturday MBA programs on Thursday, August 15, from 5:30-6:15pm. Participants can learn about LaSalle’s graduate offerings and application process from the comfort of their homes or offices; registration information is available on the LaSalle events page.

Finally, for prospective EMBA students, Temple University’s Fox School of Business will offer a virtual information session this Tuesday, August 13, from noon–1:00pm. Potential applicants interested in interfacing online with an admissions representative can register on the Fox events page.

Wall Street’s Allure Dims for New York MBA Grads

Traditionally, MBA programs have been known for sending many graduates into the world of finance, and in New York City this means Wall Street; however, recent trends indicate that New York MBA graduates are opting out of the Wall Street track for other industries.

The luxury goods industry is one example. Known as an industry where newcomers typically have to “work their way up,” luxury goods hasn’t historically been a magnet for recent MBA graduates. Yet in recent years, the student interest in this industry has risen, whereas interest in the financial sector has fallen. In 2012, according to Crain’s New York, only 22% of NYU Stern’s MBA graduates went into investment banking, as opposed to 28% the year before. At Columbia Business School, well known for a finance program that has been home to investing legends like Benjamin Graham and Warren Buffett, the number of graduates entering the finance industry dropped from 50% to 42% between 2011 and 2012.

Meanwhile, the number of CBS students getting jobs in luxury retail upon graduation has doubled between 2011 and 2012, and the retail and luxury goods student club now has 200 members and counting. In addition to gaining recognition as a “hot new industry,” luxury retail offers stability that a career in finance may not.

Not only is interest in luxury retail growing on the East Coast, but also interest in the arts and entertainment business; Pace University’s new major in this area drew applicants in record numbers this past year, resulting in an increase in enrollment of 180%.

While finance remains one of the most popular industries for MBAs, these trends may augur a move towards a more even industry distribution of MBA graduates.

Revamping Your Resume, Part 1: Let’s Get Ready to Résumé

So it’s time to update your resume. We recognize that this might not top your list of things you look forward to doing when you get home from work (and frankly, we might worry about you if it did), and indeed, this can be a daunting task. Continue reading…

Donation expands scope of global social impact prize at Wharton

In July, Barry R. Lipman, a 1970 graduate of the Wharton School at the University of Pennsylvania, contributed an additional $1.5 million towards the Barry and Marie Lipman Family Prize, which he established in 2011. Administered by the Wharton School, the award is given to the winner of an annual competition held for social impact organizations from around the world.

The gift will increase the amount of the prize’s current offerings and widen its scope. For winners, the grand prize will increase from $100,000 to $125,000, while finalists will now receive a cash award of $12,500. Past winners of the prize include iDE, a nonprofit dedicated to creating opportunities for income in rural communities around the world, and READ Global, which promotes literacy and economic growth in Southeast Asia.

The prize also gives finalists access to Wharton community resources. These include a tuition-free executive education program and free consultations with University of Pennsylvania faculty and staff.

In a press release issued by the Wharton School, Lipman said that the increased monetary rewards are intended to strengthen the annual competition.

“Our research shows that by increasing the amount and number of awards, a larger and more varied number of social impact organizations will apply, thereby increasing the influence of the Prize, the University of Pennsylvania, and the Wharton School within the social impact sector,” said Lipman. “This will create student opportunities for more curriculum development, case studies and site visits. I hope this will lead to more students choosing social impact for their careers.”

The competition is overseen by a committee of University of Pennsylvania faculty, staff, and Lipman family representatives. Applications for the 2014 Lipman Family Prize are currently being accepted through August 15.

Direct from the Dean: Carroll’s Jeffrey Ringuest

Continuing our conversations with top officials at business schools throughout the MetroMBA network, we spoke recently with Jeffrey Ringuest, associate dean of Graduate Programs at Boston College’s Carroll School of Management. Jeff has been Carroll’s associate dean for the past seven years, and before that he served as director of graduate curriculum. He also taught business courses in the operations department as a professor and department chair. In all, he has been at Boston College for more than 25 years–by now he knows the place pretty well.

Jeff actually took time out of his vacation to answer our questions (!!), and for that we are very grateful. Read on to learn about Carroll’s growing strength in the areas of marketing and data analytics, the unique benefits of its small class size (just 100 students), what it means to be part of a network of Jesuit schools, and more.

Continue reading…

Pace Center for Corporate Governance Welcomes Former CFO of Fidelity Investments

On July 30, the Center for Global Governance, Reporting, and Regulation at Pace University’s Lubin School of Business named Robert J. Chersi as Advisor to the Executive Director. He will play a significant role in expanding the Center’s offerings, from sponsored conferences to special programming. His expertise will also help to expand the Center’s course coverage to non-banking financial institutions.

Chersi, a Pace University alumnus, began his career as a CPA and ultimately moved up to become the CFO and a Member of the Executive Committee of Fidelity Investments.  Over the course of his thirty year career, he gained wide experience with finance and risk management, which he will now bring to the Lubin community.

The Center for Global Governance, Reporting, and Regulation was originally called the Center for the Study of International Accounting, but gradually shifted its academic focus and evolved into its current form. It focuses on global financing standards, funding research and offering programs and courses devoted to this area of study. One such program is the Certified Compliance Regulatory Professional (CCRP), the curriculum of which covers all the latest aspects of both U.S. and foreign regulation, with two new modules covering securities law and regulations as a result of the new Consumer Protection Act. In the past, the Center has also hosted yearly forums on contemporary accounting issues.

Lubin’s Professional MBA program offers concentrations in both Accounting and Taxation which draw from the expertise of the Center.

Learn More about Pace’s MBA Programs Here >>

Philadelphia-Based Toll Brothers Raises $5 million for Cancer Research

The Philadelphia-based real estate firm Toll Brothers has reached a milestone, winning an award on July 17 for raising over $5 million in donations for the American Cancer Society. This number establishes Toll Brothers as the second leading donor to the ACS on the east coast.

Toll Brothers CEO Doug Yearly told the Philadelphia Business Journal that the company’s extensive fundraising efforts stemmed from the fact that “everyone has been touched by cancer in some way.” “Everyone has his or her stories,” Yearly said. “I lost my dad to cancer and my cousin, who was like my best friend, to cancer…We started the relationship with American Cancer through a big gala fundraising event that we hold every spring in Philadelphia.”

This year’s black tie event in Philadelphia featured over 500 guests. Toll Brothers raises approximately $500,000 each year for the ACS. More, Yearly claimed that all of this money goes directly to funding research efforts, rather than administrative costs.

“We insist that all the money we raise all these years all goes to directly to research,” he told the Journal. “Every dollar goes directly to the researchers in the labs, hospitals, and schools who are doing everything they can to cure these various forms of cancer.”

Toll Brothers, a Fortune 1000 company based in Horsham, PA, is not only one of the leading luxury homebuilding companies in the Philadelphia metro but in the entire country, and a prime destination for Philadelphia MBA graduates seeking careers in real estate.

Direct from the Dean: LeBow’s Frank Linnehan

Stats and rankings have their place, but when you really want to know what makes a school tick, it helps to hear it in the dean’s own words. In this new series we’re sitting down with deans and other top officials at schools throughout the MetroMBA network and asking them to tell us what makes their school stand out. Continue reading…

At Schools like MIT, MDs Seeking MBAs on the Rise

Since the rise of joint MD/MBA programs in the late 1990s, the incidence of physicians seeking business training has steadily grown; but recent years have seen a dramatic increase in the number of licensed doctors pursuing MBAs at some business programs, reports the Boston Globe.

While MBA programs have long offered specializations or even separate degree programs in healthcare management, many doctors now choose to pursue their business degrees through executive MBA programs, given the hectic nature of their careers. The MIT Sloan School of Management’s Executive MBA program notes that one in every five members of the class of 2014 works in health care, accounting for more students than any other industry.

Several reasons might explain an uptick in practicing physicians enrolling in MBA programs. The Globe cites Dr. Sree Koka, an alumnus of the EMBA program at Sloan and chairman of dental specialties at Mayo Clinic, as saying that improving the patient experience was his reason for seeking an MBA. “It’s not just about the teeth,” explained Koka, “but everything the teeth represent: patients’ quality of life, social esteem, self-confidence, pain, comfort, and their smile.”

But other doctors point to the recent changes in health care law, in part due to the Affordable Care Act, as their motivation to understand the business side of health care. According to Stanford Hospital and Clinics, the ACA favors doctors who yield the best outcomes while keeping patient and insurer spending at a minimum. It seems more and more doctors are educating themselves on issues that used to be the purview of hospital administrators in order to achieve this dual mandate.

“Doctors can be changed by the system or be part of the change,” said Dr. Ivan Salgo, senior director of global cardiology at Philips Healthcare’s ultrasound unit in Andover, as quoted by the Globe. “Physicians with business training can help lead the change.”

Growing Numbers of Wharton MBA Graduates Going the Startup Route

An increasing percentage of graduates of the University of Pennsylvania’s Wharton School are choosing to start their own ventures or join fledgling companies, according to Bloomberg BusinessWeek.

Wharton reported that 7.4% of 2013 MBA grads are creating their own companies, a dramatic jump from 2.6% in 2008. With regard to sector, financial services and consumer goods and food are among the more popular areas of specialization, accounting for 15% and 8% of new student ventures, respectively.  An increasing number of first-year students are also choosing to spend their summer internships in startup environments, up to 70 this year from 61 last summer.

This change may be due in part to a shifting culture among Wharton students and administrators. Marissa Hu, President of the Wharton Entrepreneur Club, remarked on an increased emphasis in supporting students who are interested in entrepreneurship through the career management process and other institutional resources. Hu also attributed the jump in startup internships to a growing proportion of students entering the program with an interest in entrepreneurship but without a concrete plan or business idea of their own.

The internship provides exposure to the startup environment and imparts skills—which Hu notes are distinct from those required in a traditional corporate environment—that will be transferable to whatever venture students ultimately embark on. This illustrates the value of attending an MBA program with support for a range of career outcomes and corresponding training opportunities.

Fordham GBA Establishes Scholarship Fund for Former Board of Overseers Vice Chair

The Fordham University Graduate School of Business Administration is in the process of establishing the William Filonuk Jr. Memorial Scholarship in honor of William “Bill” Filonuk, Jr. Filonuk, a 1977 graduate of Fordham College at Rose Hill who received his MBA in finance in 1983 from Fordham GBA, passed away on May 25^th of this year.

Once established, the Filonuk Memorial Scholarship will join a roster of other scholarship opportunities for Fordham GBA students. These include the Hitachi Minority Scholarship (available exclusively to MBA students), the Emily L. and Robert E. Smith Scholarship, and the Linda Perrin Taber Pollack and Roy Howard Pollack Scholarship. All scholarships are based on a combination of academic merit and financial need.

Filonuk served as a managing director at BNY Mellon (where he worked for three decades, including a six year stint abroad in Brussels), but nevertheless stayed active in the Fordham community. Filonuk was the first to hold the position of Vice Chair on the Board of Overseers at Fordham GBA, and was a member of the GBA Finance Advisory Board. He was known among his colleagues for going out of his way to share his professional experience and knowledge with current Fordham GBA students, making time for mentorship and inviting current students to his offices at BNY Mellon. He also made lasting contributions to both the development of career services and entrepreneurship initiatives at Fordham GBA.

The Fordham GBA Board of Overseers, administration and staff are currently accepting contributions to the Filonuk scholarship fund. The scholarship is in memory of Filonuk’s kindness, optimism, intelligence, and continual service to the Fordham GBA community.