Oxford’s Saïd Business School Planning £60m Expansion
The Financial Times reports an Oxford expansion is in the works, with upwards of £60 million planned for the Saïd Business School.
Oxford Saïd MBA Employment Rises Alongside Tech Industry Interest and New School Research
There’s no doubt that the tech industry and the MBA are becoming cozier. From fintech to well-known tech firms, MBAs are chasing after jobs at tech companies and vice versa. And this shift has definitely been felt and reflected at the University of Oxford Saïd Business School.
Over the last several weeks, the school has been talking up the importance of tech. It starts with the release of the latest Oxford MBA employment report, revealing that the employment rate had risen to 91 percent. It continues with the revelation that more MBAs are heading into the tech industry than ever before. From there, Saïd released a new research report, “Understanding Chief Digital Officers” to find out about this new position and how people can succeed in this new tech role.
As we said, it’s been a few busy weeks. So, we’ll take you on a brief deep-dive of the latest Oxford Saïd MBA tech news
Oxford MBAs Exhibit Mobility, Capability, and Interest in Tech
Although the UK is still facing a challenging economic environment, Oxford Saïd MBAs are overcoming. This year, the employment rate rose to 91 percent, and the average salary increased to £71,550, both of which are reliable indicators that Oxford MBAs are well set for their future careers. As Stuart Jagot, the Director of Career Development says, “Results demonstrate the international mobility and capability of the Oxford MBA.”
Jagot calls it a “tech revolution” with a significant number of MBA graduates launching successful tech careers. And much of that success is due to the school’s relationship with the industry.
For example, MBA student Daniel Peach worked in consulting before he took a year out to study at Oxford Saïd. From there, he built upon his tech credentials and analytical roles until he eventually landed an internship with Google. “Oxford Saïd’s relationship with Google was extremely helpful,” says Daniel. “The careers team also gave me some great preparation for the interview—particularly on behavioral aspects.” And he’s not the only success story.
MBA student Marla Woodward made the successful transition from product manager to a tech sector internship at Cisco. And William Ou made the transition to the fast-evolving world of fintech, thanks to his MBA at Oxford Saïd.
“When I arrived in Oxford there was so much going on with blockchain technology which, honestly, I had never heard of. In one of the many company presentations at the School, I met the people from Blockchain.info, the world’s most popular bitcoin wallet, where I eventually did my Summer Internship and got into the cryptocurrency/blockchain world.”
The new Digital Marketing Pathway for tech-minded students has been an enormous help. The pathway provides access to General Assembly online curriculum, which helps students develop the tech skills they need for their future careers. There’s also the Oxford Saïd Careers Academy, which helps MBA students with career development planning, guidance, practical exercises, and 1-1 coaching in their career of choice. Together, these programs have helped Oxford Saïd students become successful in tech careers. (Learn more.)
Oxford Saïd Goes Inside the Role of Chief Digital Officer
For the aforementioned “Understanding Chief Digital Officers” paper, the business school interviewed 41 Chief Digital Officers (CDOs) in 13 countries to understand who they are, what they do, and how they can be successful. Researchers found that the role was full of “challenging contradictions” with a severe lack of clarity around the role and a wide range of tensions.
Lead author Gillian Brooks says:
“The CDO role has typically been created by large, established companies who can feel under threat from digital disruption in their markets as well as being excited by the opportunities that new technologies can offer. But there is no consensus on the ideal background or qualifications for a CDO, where the role should sit in the organizational structure, or even what a CDO does.”
The authors explain that CDOs are forced to do their job and define it at the same time with other C-suite executives having no understanding of what a CDO does. This makes the CDO role highly dependent on the goodwill and support of the CEO because if they’re not on board with their position, then nothing gets done. At the same time, while a CDO’s role is transformative, it’s also transient, since many times they can end up making themselves redundant.
Author Michael Smets, Associate Professor in Management and Organization, says:
“We discovered that, whatever their background, the most successful CDOs were those who are comfortable with uncertainty and ambiguity. They embrace complexity and paradox by finding ways to make seemingly incongruent, contradictory elements of their roles fit together.”
The combination of Oxford Saïd’s MBA curriculum, which supports tech, and the School’s tech-centric research and career development have made the tech industry attractive for Saïd MBAs. And it doesn’t look like that interest will wane anytime soon.
You can learn more on the school’s website and check out the full report here.
Wharton Reveals 2018 MBA Employment Report, Announces $25 Mil Gift
Lots of news out of the Wharton School at the University of Pennsylvania recently. Employment statistics have been published for the most recent graduating class, and a big donation will fund a cool new building dedicated to entrepreneurship in West Philadelphia as well as more international scholarships for undergraduates.
Here’s what’s going on at the Wharton School.
Penn Employment Report (2018)
The 2018 MBA Career Report revealed a slight increase in job offers and salaries with finance drawing in more students than ever. In 2018, 36.9 percent of full-time MBA graduates went into financial services (up from 33 percent last year). Consulting lured the second most graduates at 25 percent, down from 28 percent in 2017. As for technology—the third most sought-after industry—this year there was a small dip down to 14.9 percent from 16 percent in 2017.
Employment Summary
Overall, of the 77.9 percent of Wharton MBAs seeking employment, 98.4 percent received a job offer 90 days post-graduation, and 94.6 percent accepted. For the remaining 17.2 percent not seeking employment—140 students—84 returned to their current company (60 percent), 34 started their own company (24 percent), 17 postponed their job search (12 percent), and five students gave another reason (3 percent).
As for top employers, many prominent companies hired two or more graduates including Accenture Strategy, Facebook, Amazon, Apple, Bain & Company, Deloitte Consulting, McKinsey & Company, Microsoft, and Tesla.
Salaries Rise
Wharton MBA salaries continued their climb, with the school reporting a $5,000 increase in total median base salary, bringing that figure to $135,000 in 2018. The highest median salary—$180,000—went to graduates heading into professional services, followed by venture capital at $175,000 and hedge fund managers at $162,000.
As for regional differences in salaries, the 42.7 percent of Wharton MBA graduates who accepted positions in the Northeastern United States commanded a median salary of $140,000. Another 23.2 percent of grads headed to the West, where the median annual salary was $135,000. The Mid-Atlantic region of the U.S., with its median annual salary of $139,000, drew the third largest percentage of grads, at 7.7 percent. Interestingly, those who took jobs in the Midwest and South reported the biggest paydays, with a median salary of $150,000. This was trailed by the Southwest, with a median annual salary of $145,000.
Another 11.7 percent of the graduating class sought post-graduation employment outside the United States, where salaries on the whole were lower. In Latin America, the median annual salary is $92,000. Salaries are slightly better in Europe, where the median is $119,000, and best in Asia, at $126,000.
$25 Million Gift for Scholarships and New Hall
Right on the heels of publishing its employment statistics last week, the Wharton School also announced a $25 million gift. The transformative gift will go toward constructing Tangen Hall, the first-ever dedicated space for cross-campus entrepreneurship at the University of Pennsylvania. It will also establish an international scholarship fund.
“This gift not only represents a profound commitment to Penn and Wharton student financial aid; it also energizes our entire campus community through Tangen Hall, a game-changing facility for innovation, entrepreneurship, and technology,” Wharton Dean Geoffrey Garrett said in a press release.
Nicolai Tangen, W’92
Alumnus Donation
Nicolai Tangen, the founder of London-based investment partnership AKO Capital and 1992 Wharton undergraduate alumnus, encouraged the AKO foundation to donate as part of Wharton’s More Than Ever fundraising campaign.
“Katja and I are continually inspired by Penn students and pleased to have the opportunity to engage with them and set them up for success,” Tangen says. “We look forward to their many achievements in the years ahead and to witnessing how this new building will bring together the next generation of entrepreneurs, leaders, and innovators to share their talents with one another and for the greater good.”
Tangen Hall
Tangen Hall will be located at 40th and Sansom Street, offering students almost 70,000 square-feet of space to pursue entrepreneurial goals. The hall brings together students from across the university to participate in the new Venture Lab. Also, the building will become the new home of many entrepreneurship-focused programs including:
- Penn Wharton Entrepreneurship
- Goergen Entrepreneurial Management Program
- Weiss Tech House
- Sol C. Snider Entrepreneurial Research Center
- Wharton Small Business Development Center
- The Master’s Level Integrated Product Design Program
Tangen Hall will have dozens of meeting and collaboration spaces for students, retail space for student ventures, a test kitchen, a maker lab with 3D printers and laser cutters, a VR cave, and a café.
“Tangen Hall marks a new chapter for the entrepreneurial community at Penn and in Philadelphia, providing a central hub for the groundbreaking innovations that happen here every day,” Wharton Vice Dean of Entrepreneurship and Innovation Karl Ulrich says. “This physical space will allow faculty to more strongly support students who turn ideas into outcomes that will transform business for years to come.”
Construction will begin in 2019 with completion slated for 2020.
International Scholarship Fund
Beyond Tangen Hall, the $25 million will also go toward a new Katja and Nicolai Tangen International Endowed Scholarship, which will provide funding for international undergraduate students. The goal is to help students who could otherwise not afford a Penn education.
It’s the fourth scholarship made possible thanks to the AKO Foundation and the Tangens. So far, they’ve supported a total of 22 Penn students since 2012.
“We are profoundly grateful to Nicolai and Katja Tangen for their extraordinary commitment to extend opportunities for entrepreneurship to all Penn students,” Penn President Amy Gutmann says. “We are also grateful that Nicolai and Katja are expanding their steadfast scholarship support, enabling the best students from every part of the world to attend Penn, to thrive in their studies, and to serve communities worldwide.”
This article has been edited and republished with permissions from Clear Admit.
The Perfect MBA Career: Portfolio Manager
If working in investment strategy seems appealing, then a job as a portfolio manager may be right for you.
Forté Foundation Now Accepting Applications for MBALaunch
Calling all women considering an MBA but unsure about how to navigate the competitive admissions process: The Forté Foundation’s 2019 MBALaunch program was made for you. This 10-month program offers female MBA candidates a powerful support network and road map for applying to top-tier business schools for the MBA Class of 2022.
Applications for the next season of Forté MBALaunch, slated to begin in January 2019, are open now.
What Is MBALaunch?
MBALaunch is a unique program designed to help exceptional female candidates excel in the high-stakes MBA application process. Beginning each year in January, the program includes a range of in-person and virtual events geared toward helping participants assemble their strongest possible applications. These include networking events, monthly webinars, and in-person peer group sessions offered in 11 host cities. In addition, the program is accessible via video chat.
Candidates accepted into the MBALaunch program can expect to:
- Cultivate a strong network filled with hundreds of women with similar goals;
- Gain intensive GMAT test prep that, on average, helps improve scores by 100 points;
- Receive help building a winning application;
- Hone interviewing skills with guidance from admissions consultants and business school representatives, and
- Get immediate feedback on their resumes, admissions essays, and more.
Who Can Take Part in MBALaunch?
The MBALaunch program is open to women looking to apply to any of the more than four dozen Forté member business schools in fall 2019 (for enrollment in fall 2020). Forté seeks candidates with a strong academic record and two to seven years of post-undergraduate work experience.
To take part, candidates must be able to travel to a host city (Atlanta, Boston, Chicago, Houston, Los Angeles, London, New York, San Francisco, Seattle, Toronto, or Washington DC) for a one-day kick-off event. Then, candidates dedicate 10 months to the online and in-person program. After the kick-off event, candidates unable to participate in person can take part via Skype or Google Hangouts.
There is a $25 non-refundable application fee. Admitted applicants then pay a $550 program fee to take part.
Additional application eligibility information is available here.
Application Deadlines
The first MBALaunch applications deadline is October 8, 2018, with subsequent deadlines on October 15 and 22.
This article has been edited and republished with permissions from our sister site, Clear Admit.
October MBA Deadlines: NYU Stern, Ivey, Lehigh, and More
Douglas Adams once wrote, “I love deadlines. I love the whooshing noise they make as they go by.” Prospective MBAs applying for business school can appreciate Adams’ humorous writing, but should do their best to not live by the British author’s procrastinating prose. That’s where MetroMBA comes in! Check out our list of upcoming MBA program application deadlines in our top metros: Continue reading…
