Rady School Top 15 in 15

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The Rady School of Management is approaching its 15th anniversary and since its founding in 2003, the school has reached many remarkable milestones. Through the generous support of the business community, the school has grown exponentially—offering new graduate and undergraduate programs, expanding the ranks of its world-renowned faculty, and constructing state-of-the-art facilities where students thrive. Most impressively, the school’s focus on entrepreneurship and innovation has led to numerous companies, founded by Rady School students and alumni, that are changing our world and significantly contributing to our economy. Here’s a look at the top 15 accomplishments the Rady School has achieved in its first 15 years.

1. Over 150 operational startup companies have been started by Rady School alumni and students. These startups have revolutionized industries, led to breakthrough medical devices, drastically enhanced the lives of the visually impaired, improved personal wellness monitoring and have forever transformed our world for the better. Many of the startups are a product of the Rady School’s unique Lab to Market core sequence and accelerators.
2. The Rady School is grown into an economic powerhouse, with alumni and student startups creating over a $6 billion dollars impact in the local, national and global economy in the last 15 years.
3. Founded with the intention to provide quality business education to leaders in innovative industries, the Rady School has launched distinguished graduate programs to serve the needs of the business community, including the school’s flagship Full-Time MBA and FlexMBA programs, which are already recognized among the best.
4. In addition to the MBA programs, three specialty graduate programs have been launched: a Master of Finance, a Master of Science in Business Analytics and a Master of Professional Accountancy.
5. The school also has three robust undergraduate programs, a business minor, an accounting minor, and a entrepreneurship and innovation minor, all of which are among the most popular minors on the UC San Diego campus.
6. Rady School faculty are recognized as leaders for the quality of their research. Over the past 15 years, the school’s faculty have been ranked number one in the U.S. for intellectual capital by Bloomberg Businessweek, 14th globally for faculty research by the Financial Times and 12th globally in student rating of teaching quality by The Economist.
7. Since its inception, the school has received strong support from the business community. The school’s many supporters have been generous with their time and with gifts to support the mission of the school. Notable gifts include: a $100 million gift from Ernest and Evelyn Rady to fund strategic priorities and recruit faculty; a $4 million gift and endowed chair from Nobel Laureate and Rady School professor Harry Markowitz and his wife Barbara, a $30 million naming gift from Ernest and Evelyn Rady, and a $5 million gift from Carol and William Stensrud for program development and faculty recruitment.
8. The Rady School has established five Centers of Excellence: the California Institute for Innovation and Development (CIID), the Beyster Institute, the Center for Business Analytics, the Center for Social Innovation and Impact, the Institute for Supply Excellence and Innovation the U.S. – Israel Center on Innovation and Economic Sustainability. Each of the school’s centers focuses on a different topic of importance and provides additional learning opportunities and experience for students.
9. Launched in 2013, the StartR Accelerator at the Rady School is a non-profit program for Rady School students and alumni designed to provide entrepreneurs the tools needed to start and grow their businesses. The StartR program includes workshops, mentoring, advice and access to other resources for early-stage companies. At the conclusion of the program, teams present their pitches at Demo Day, attended by investors, industry experts and the San Diego community.
10. The Rady School’s mystartupXX program is a one-of-its-kind accelerator that was created to increase and encourage diversity in entrepreneurship. Program participants take workshops on launching startups, team building, leadership, market assessment, consumer feedback, creating a value proposition, validating business models, and understanding financing strategies needed to launch the business. Each team works with a mentor and advisors who monitor and encourage their progress.
11. The Rady Venture Fund, a student-assisted venture capital investment fund, was established to support the Rady School’s educational objectives in the areas of entrepreneurship, innovation and transfer of discoveries into the marketplace. Students screen investment leads, perform due diligence, make investment recommendations, and monitor portfolio companies. To date, the fund has invested in five early stage companies.
12. The Rady School’s Center for Executive Development (CED) offers courses and certificates provide valuable learning experiences that meet the needs of executives and managers in the rapidly changing world of business. Popular CED courses include: leadership, team building, and interpersonal skills. Executive development faculty are industry experts, renowned researchers, engaging teachers and authors.
13. The Rady School’s Ph.D. program began in 2009, attracting top doctoral candidates from around the globe. Rady School Ph.D. students have gone on to teach at top school across the U.S. and the globe.
14. Two state-of-the-art buildings have been constructed to house the Rady School and provide a modern and technology-forward learning space. Otterson Hall opened in 2007 and Wells Fargo Hall Opened in 2012. Wells Fargo Hall has been LEED Gold certified for its sustainable practices.
15. The Rady School earned accreditation from the Association to Advance Collegiate Schools of Business (AACSB International) in 2011. AACSB International is the premier business education accrediting body, with less than five percent of business schools worldwide achieving accreditation.

To learn more about the Rady School of Management, visit the Marshall website.

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Financial Times Ranks the Top MBAs for Entrepreneurs

Leading entrepreneurs in the business world today can often be seen as trailblazers, standing strong and independent in an often cutthroat world. What isn’t seen as often is the kind of support—whether financial capital or mentorships—that can help get an idea off the ground. In recent years, business schools and MBA programs around the globe have made this kind of support for new businesses a core part of their operation, often offering entrepreneurship majors, business pitch competitions, startup incubators and more.

Each year, The Financial Times releases their ranking of the best MBA programs for entrepreneurship, helping up-and-coming entrepreneurs to make informed choices about the best program for their career and startup goals. Its latest ranking, for 2018, has just been released.

The 2018 ranking of the top MBA’s for entrepreneurship compiled fifty schools from around the world. A number of factors went into determining which schools would make the grade, including the percentage of graduates who started a company after earning their degree, percentage of female entrepreneurs, the extend to which funding from the school or from the school’s alumni network helped in the creation of new businesses, and more. These factors combined would help decide in what position a school would fall on the ranking.

This year, schools in the United States took the top three spots on the list: the Stanford Graduate School of Business, the F.W. Olin Graduate School of Business at Babson College, and the Tuck School of Business at Dartmouth College. Two UK business schools—the Lancaster University Management School and the Cass Business School—rounded out the top five.

Despite dipping numbers of students, the Stanford Graduate School of Business entrepreneurship program is still the top-ranked in the world, according to the Financial Times.

At Stanford, although it still ranked as the best school for entrepreneurship globally, there was actually a significant drop since in the number of students starting a business within three years of graduation. This year, it was just 22 percent of students compared with last year’s 36 percent. Babson College’s Olin Graduate School of Business also witnessed a drop; from 52 percent last year to 37 percent in 2018.

One explanation for the drop, however, is not that interest in entrepreneurship is declining, but instead being taken on more as a ‘side hustle’ than a full-time career. This was certainly the case for Samantha Penabad, a former strategy manager at Accenture and MBA at Berkeley’s Haas School of Business, who has been working on a digital donation platform called GivingFund. Although she didn’t intend on becoming an entrepreneur when she started business school, tutors at the university helped her to develop a business plan and a fellow student with finance experience joined as a co-founder. The service is scheduled to launch later this month.

But GivingFund remains a side job for Penabad, who will be taking on a full-time job in strategy and operations at Google in New York after graduation. As a result, someone like Penabad will be not be included in data for students starting businesses after graduation, but among those accepting full-time jobs. Students pursuing similar paths—working full-time but starting businesses on the side—may help explain the dip in entrepreneurship that many MBA programs are witnessing.

One reason behind this trend may be the fact that many students see a full-time role as just one step to eventually starting their own company. By putting their skills to work at a top company like Amazon or Google, students are able to more quickly pay off their student loans, which means eventually starting a business debt free. Companies like Amazon also may seek out those with entrepreneurial experience, because it demonstrates an attractive leadership quality.

“We welcome applicants with an entrepreneurial spirit,” says Amazon’s senior manager of campus recruiting, Dee Clarke. “They are given the ownership over their work, like they would [in] their own business, but within a global support network that provides added guidance and support.”

Guthrie Jones, an MBA at London’s Cass Business School, holds a similar philosophy. Although he had no intention of getting into entrepreneurship, he couldn’t stop thinking about one particular business idea and decided he’d have to pursue it. Guthrie believes his company, Icepick, which lets people rent out space on their hard drives, has the potential to become a global business. Still, if he right opportunity for a salaried role came up after graduation, he would gladly shift his plan to the side.

Nevertheless, student interest in studying entrepreneurship as part of their MBA has grown at schools like Cass. Part of this may be the result of Cass’s £10m investment fund, which has not only supported new MBA start-ups but has also trained students in the process of investing.

Financial Times MBA Entrepreneur Ranking (2018)

1. Stanford Graduate School of Business
2. F.W. Olin Graduate School of Business (Babson)
3. Tuck Business School (Dartmouth)
4. Lancaster University Management School
5. Cass Business School (City University)
6. Otto Beisheim School of Management (WHU)
7. IMD Business School
8. Saïd Business School (Oxford)
9. Harvard Business School
10. Judge Business School (Cambridge)

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The California MBA Program Guide

If you’re looking to earn a California MBA, where should you go to school? Should you choose a top MBA program in Los Angeles or San Francisco? Both cities offer beautiful weather, gorgeous beaches, and world-class business education, but is one location better than the other?

Los Angeles vs. San Francisco

To get started, it’s necessary to compare the cost of living in Los Angeles and San Francisco. According to Numbeo, the world’s largest database containing user contributed data about cities, San Francisco is far and away the more expensive place to live. You would need $7,748.24 in San Francisco, CA to afford the same lifestyle that you can have for $5,700 in Los Angeles. That’s just over $2,000 more per month needed to live in San Francisco, and here’s how that’s broken down.

• Consumer Prices:98 percent higher in San Francisco
• Rent Prices: 51 percent higher in San Francisco
• Restaurant Prices: 62 percent higher in San Francisco
• Groceries Cost: 8 percent higher in San Francisco
• Local Purchasing Power: 77 percent higher in San Francisco

Right off the bat, it’s obvious that the cost of rent (real estate) is what will eat up most of your paycheck in San Francisco, but is that offset by anything? Here are the other things to consider when choosing between San Francisco and Los Angeles.

• Industries
  • Los Angeles is ranked top in the country for manufacturing with over 500,000 workers in the industry. Other top industries include banking and finance (more than 100 foreign and domestic banks), entertainment, and tourism.
  • San Francisco, on the other hand, is known as Silicon Valley (with San Jose) for its technology companies and startups (Intel, Apple, Genentech, Google, Uber, and Twitter). It’s also a great city for finance, global business, medical science, biotechnology, tourism, and fashion apparel (home of the Levi Strauss & Co headquarters).
• Economic Development: According to the Center for Jobs, San Francisco far and away outperforms Los Angeles in terms of economic growth and development with the Bay Area growing year-over-year while LA has struggled with almost consistent decreases.

• Top Companies: California is home to 53 Fortune 500 companies, second only to NYC. And more of those companies are located in the Bay Area compared to Los Angeles. San Francisco is home to Apple (3), McKesson (5), Chevron (19), and Wells Fargo (25). While Los Angeles is home to Aecom (161), CBRE (214), and Reliance Steel & Aluminum Co (320).

Los Angeles vs San Francisco MBA Programs

The next step is to compare the top three MBA programs in each city. In particular, we wanted to take a look at the tuition rates (two years), GMAT averages, and post-graduation salaries at each program in each city to get a well-rounded picture.

There are a few things to note right away.

• San Francisco is home to more highly ranked MBA programs with two ranking in the top ten on every list. However, it’s important to note that both cities have programs that rank well and are considered top tier schools.
• The average tuition in each city is fairly even. However, the most expensive ($137,00) and the most affordable ($77,000) schools are located in San Francisco, whereas Los Angeles is more even regarding tuition across the board.
• You’ll need a better GMAT score to go to a school in San Francisco, and that GMAT score translates into a higher salary after graduation. San Francisco graduates earn about $11,000 more per year compared to their LA counterparts.

Here’s how it all breaks down per school.

Top 3 Los Angeles MBA Programs

Anderson School of Management – UCLA

The UCLA Anderson School of Management offers a full-time MBA, a part-time MBA, an Executive MBA, and a UCLA-NUS Global MBA (Asia Pacific) program. It’s considered one of the top business schools in the world, ranking 6th in the Economist, 15th in Forbes, 16th in the U.S. News & World Report, and 25th in Financial Times.

• Tuition Rates (two years): $117,176
• GMAT Averages: 719
• Post-Grad Salaries (Mean): $119,964

Marshall School of Business – USC

The Marshall School of Business at USC offers a full-time MBA program, a part-time MBA, an Executive MBA, and IBEAR (International Business Education and Research) MBA, and an Online MBA program. The school’s full-time MBA program is ranked: 20th in the U.S. News & World Report, 33rd in Forbes, 59th in Financial Times, and 65th in the Economist.

• Tuition Rates (two years): $116,361
• GMAT Averages: 703
• Post-Grad Salaries (Mean): $115,309

The Paul Merage School of Business – University of California, Irvine

The Paul Merage School of Business has both a full-time MBA program as well as a part-time fully-employed MBA program. In addition, the school offers an Executive MBA and a Health Care Executive MBA program. The business school is ranked highly across multiple rankings including 41st in Forbes, 42nd in the U.S. News & World Report, 56th in the Economist, 64th in Financial Times.

• Tuition Rates (two years): $87,661
• GMAT Averages: 652
• Post-Grad Salaries (Mean): $97,808

Top 3 San Francisco MBA Programs

Haas School of Business – UC Berkeley

The Haas School of Business offers a full-time MBA, part-time MBA, and Executive MBA program. Haas is ranked as one of the top business school’s in the world ranking in the top ten on every list: 7th overall in U.S. News & World Report and 7th overall in the Economist, as well as 9th overall in Forbes, and 10th overall in the Financial Times.

• Tuition Rates (two years): $117,444
• GMAT Averages: 725
• Post-Grad Salaries (Mean): $125,573

Stanford University Graduate School of Business

The Stanford University Graduate School of Business offers only a full-time MBA program, but it’s one of, if not the top two-year program in the world. When looking at how Stanford GSB stacks up to the competition, the rankings speak for themselves with all in the top ten and most in the top five, including: 1st overall in the Financial Times, 2nd overall in Forbes, 4th in the U.S. News & World Report, and 9th in the Economist.

• Tuition Rates (two years): $137,736
• GMAT Averages: 733
• Post-Grad Salaries (Mean): $144,455

UC Davis Graduate School of Management

At the UC Davis Graduate School of Management, MBA applicants can apply to the full-time MBA or the part-time MBA program. Once again, UC Davis is one of the top schools in the world, ranking 37th in the U.S. News & World Report, 63rd in Forbes, and 67th in the Economist.

• Tuition Rates (two years): $77,698
• GMAT Averages: 669
• Post-Grad Salaries (Mean): $97,695

California MBA Breakdown in Charts

When breaking down the data between MBA programs in Los Angeles and San Francisco, here’s what it looks like

California MBA Tuition (Los Angeles vs. San Francisco)

California MBA GMAT Averages

California MBA Post-Graduation Salaries

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The MBA Real Estate Boom: Inside The Schulich Real Estate Program

Real estate is booming. In fact, according to the Financial Times, commercial property asset values and investment yields have surpassed levels prior to the Great Recession, and there is continued strong demand for offices, urban apartments, and more. It’s all thanks to continued low interest rates and tight supply.

What has this real estate boom meant for business schools? It’s meant a decrease in interest in banking and an increase in interest for real estate study, particularly among MBA students who understand the cycle and want to get involved while they can. The reality is that there are many jobs in real estate, and that’s what MBA students want.

According to Sherena Hussain, an assistant professor in Infrastructure at the York University Schulich School of Business, “The real estate and infrastructure sectors account for a large proportion of a nation’s GDP.” So, it shouldn’t be surprising that many top MBA programs are prioritizing real estate curriculum, specializations, and clubs for their students.

Real Estate and Infrastructure at the Schulich School

Real estate and infrastructure have an indispensable role at the Schulich School. Not only does the school offer a Master of Real Estate and Infrastructure (REI), but MBA students can also specialize their curriculum with a focus on REI. The MBA specialization focuses on “creating and maintaining places for living, working, shopping, learning, recreation and culture, and the critical accompanying support systems ranging from mobility and logistical networks, to utilities and energy supply,” according to the school website.

One of the reasons behind the MBA REI specialization at Schulich is Toronto itself.

“Many of the leading global Real Estate and Infrastructure firms are located in Toronto,” explains Hussain. “If you are interested in a career in real estate and infrastructure, Schulich’s MBA specialization is a rare opportunity to develop your understanding, skills, and network in a way that leverages the specialization’s top-tier reputation and committed faculty and alumni base.”

As part of the REI specialization, students must complete 12 credits focused on real estate including two required courses: Real Estate Finance & Investment and Development Prototypes. Other potential courses include:

• Partnership Models for Infrastructure Delivery
• Structuring Real Estate Transactions
• Commercial Real Estate Asset Management

“The idea behind the REI MBA specialization is to bring students to industry and industry into the classroom,” Hussain outlined in an email exchange with MetroMBA.

“Our faculty and sessional instructors have real-world experience and bring this perspective into the classroom by leveraging experiential learning at its finest. Examples include flying in senior policy officials to judge a capstone assignment about international infrastructure, bringing leading CEOs into the classroom as guest speakers in REI investment classes, or partnering with a leading national-law firm to have our students learn how to negotiate joint venture agreements. This is a small sample of how the REI MBA specialization approaches holistic learning.”

But holistic learning isn’t just regulated to the MBA program and inside classrooms. It can be found throughout the school, including within Schulich’s Real Estate and Infrastructure Club (SREIC).

Schulich Real Estate and Infrastructure Club

SREIC is open to all Schulich business students interested in learning more about pursuing a career in real estate and infrastructure. The club acts as a liaison between students, the industry, and professionals.

“SREIC offers MBA students an opportunity to supplement their learning with real-world, co-curricular programming and unique networking opportunities,” says Hussain. “It’s a student-run group that has the full backing of Schulich’s Real Estate and Infrastructure program faculty, and it is one of the most active student groups at the business school.”

Programming offered by the club includes:

• Value-Oriented Programming: site visits, breakfast seminars, conference engagements, project panels, case competitions, etc.
• Deep Industry and Alumni Relations: on a one-on-one and broad basis through speed mentoring, recruitment breakfasts, and keynote events.
• Leadership Development Opportunities: including the semi-annual resume book circulated to recruiters and senior leaders.

There are also several keynote events that take place each year including Schulich’s Developers’ Den international case competition, ARGUS training, and Schulich’s annual Perspectives Lecture. And one event that just took place in February was the annual New York City real estate study tour.

The study tour is part of a partnership with Columbia University’s real estate program, beginning several years ago. It’s a three-day intensive and transformative real estate experience that takes students to site visits and tours of leading real estate and infrastructure firms all over NYC. Some of those firms include Blackstone, Related Companies, Oxford, Vornado Realty, WSP, Brookfield, and Silverstein Properties. The goal is to give students a glimpse into the future of real estate 

“Schulich students benefit from learning more about a new market, as well as having a basis for global comparative learning,” Hussain explains. “The partnership [with Columbia] offers an opportunity to develop a network of peers engaged in commercial real estate development in New York City and across the U.S. Each year, the club visits a development class held at Columbia University to learn more about their approaches to learning about real estate. In return, the Schulich School hosts an annual friendship dinner in Manhattan to offer more opportunities for students, alumni, and friends of industry from Canada and the U.S. to forge relationships.”

The trek is a unique event that gives Schulich students a chance to explore real estate and infrastructure in a whole new way.

“The 2018 SREIC New York trip was an excellent and well-balanced learning experience for students who are truly passionate about real estate and infrastructure,” says James Chang, an MBA student working to his REI specialization. “A prime example of ‘outside the classroom’ learning with the perfect balance between education, relationship building, and fun. I would highly recommend it to students in the MREI or MBA program to take advantage of this opportunity next year!”

To learn more about real estate and infrastructure at the Schulich School of Business, visit the school’s website.

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The Value of Choosing a Research-Focused MBA Program at UW Foster

How important is faculty research to choosing your MBA program? Should you care if you go to a research university or is it all just white smoke? Is there value in choosing a research-focused MBA program?

We know that faculty matter. According to a paper written by researchers at Indiana University and Michigan State University titled “Faculty Do Matter: The Role of College Faculty in Student Learning and Engagement,” faculty have a significant impact on student learning and the overall educational experience.

“The impact that a faculty member can have on the student experience can be seen in and out of the classroom,” the study explained. “We found that faculty behaviors and attitudes affect students profoundly, which suggests that faculty members may play the single-most important role in student learning.”

But what about faculty research, is it important? Continue reading…

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Los Angeles News: UC Irvine Female Faculty Recognized, and More

Let’s visit some of the biggest news stories coming out of business schools and MBA programs in Los Angeles.

Welcome New EMBA Director Joe O’Hannigan – Loyola Marymount Newsroom

The Loyola Marymount University College of Business Administration has recently named Joe O’Hannigan as the new associate dean and director for the school’s Executive MBA Program. With more than 30 years of experience in both higher education and international business, O’Hannigan will come to the College of Business Administration from Notre Dame, where he helped take the university’s Executive Education and EMBA programs to new heights.

“Our Executive MBA Program plays a valuable role in the community, bridging and strengthening both LMU and the business world with increasing recognition and impact,” O’Hannigan commented. “I can’t help smiling as I reacquaint myself with this wonderful institution; it’s this proud alum’s dream come true.”

Read more about Joe O’Hannigan and LMU’s Executive MBA here.

Entrepreneur and Scholar to be Honored by University – USC Marshall Newsroom

Kathleen Allen, Professor Emerita of Clinical Entrepreneurship at the Marshall School of Business at USC is the newest recipient of one of the University’s highest honors—the 2018 Faculty Lifetime Achievement Award. A Ph.D. graduate from USC Marshall, Allen served as the university’s professor of clinical entrepreneurship at the Lloyd Greif Center for Entrepreneurial Studies for 26 years before retiring in 2016. She is the author of a number of best-selling textbooks about entrepreneurship, including “Launching New Ventures,” which has been published in six languages and sold around the world. The Lifetime Achievement Award will be presented to Allen at the Academic Honors Convocation Ceremony in April.

Read more about Allen’s tenure at USC Marshall and the Lifetime Achievement Award here.

UC Irvine Merage in FT Global MBA Ranking 2018 – Financial Times

The Financial Times has recognized the Paul Merage School of Business at the University of California, Irvine as a stand out in their latest ranking of the best MBA programs in the world. According to data from the publication, the Merage School is the first business school in 20 years of FT’s rankings to have a majority (52 percent) of female faculty. This is significantly higher than the average rate of 28 percent for other ranked schools. The Merage MBA program has remained consistently ranked since the first listing in 1999, and since then has witnessed a steady growth of female faculty each year.

Find out more about the Financial Times’ annual ranking here.

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