Indiana, UNC Keep Top Spot in New U.S. News Online MBA Ranking
One year after the University of Indiana Kelley School of Business and University of North Carolina Kenan-Flagler Business School grabbed the top mantle in the U.S. News & World Report “Best Online MBA Programs” list, the two schools managed to hold the first spot yet again in the publication’s updated 2020 Online MBA ranking.
Continue reading…Masters Advantage: Business Analytics or Accounting?
A specialized master’s degree can be a valuable tool for enhancing your career prospects. If you have a specific career in mind—financial analysis, marketing, statistics, etc.—a master’s degree in your specialty can provide you with the advanced training you need to be successful. So, the question is, what specialized masters is right for you and will give you the advantage you want?
To help you out, we’re putting the most popular master’s degrees head-to-head in our new series. First up, we’re comparing Business Analytics and Accounting.
What is a Master’s in Business Analytics?
A Master’s in Business Analytics is designed for students interested in big data. These individuals are interested in using machine learning algorithms to process data and draw conclusions in everything from sports to consulting, manufacturing, and healthcare. It’s all about making sense of vast amounts of data to streamline business.
What is a Master’s in Accounting?
A Master’s in Accounting is exactly what it sounds like—it’s hyper-focused on accounting. Individuals who choose this path are interested in completing their CPA examination and pursuing a career in corporate accounting. You’ll be prepared to take a strategic accounting role in audit, tax, financial management, and more.
Business Analytics or Accounting: Coursework
There’s some overlap in the coursework you’ll take as an accounting master’s student and a business analytics student. Both master’s programs delve into financial topics and include finance-related courses. In fact, some Master’s in Business Analytics programs offer a professional track in finance.
Also, in both cases, you’ll dive into analytical techniques and data modeling—though in the Accounting program it will always emphasize finance and accounting areas whereas Business Analytics tends to be more generic.
However, that’s where the similarities end. In Business Analytics, you’ll dive deep into computer programming, statistics, machine learning, and visualization. On the other hand, a Master’s in Accounting will take you into financial reporting, auditing, business taxation, business law, and management accounting.
Business Analytics or Accounting: Accessibility
Both master’s degrees can typically be completed in 12 months with some programs lasting up to two years. In addition, students can complete either program through full-time, part-time, online, or hybrid tracks. What’s different is the application process and what type of student is best suited to each program.
Business Analytics students must be mathematically inclined and gifted in quantitative fields. Many of these Master’s programs are STEM-designated, so candidates must be prepared to demonstrate high grades and test scores in these subjects.
Master’s in Accounting applicants are expected to have a strong background in accounting, often having earned their undergraduate degree in the same field. Work experience is not typically required unless the student has no practical training in accounting.
Business Analytics or Accounting: Careers
As a Business Analyst, you may earn a higher salary than an accountant when starting—around $15,000 more—and you’ll have more job opportunities. A Master’s in Business Analytics graduate can work in a variety of analyst roles in everything from marketing to finance, strategy, and statistics. While, on the other hand, a Master’s in Accounting graduate is typically regulated to an accounting, tax, or audit career.
Business Analysts are in high demand and have many opportunities regarding their careers, typically earning around $85,000 to start. They can work in almost any industry and in a variety of job functions, including:
- Business analyst
- Budget analyst
- Financial analyst
- Corporate strategy analyst
- Actuary
- Social media data analyst
- Business intelligence analyst
- Machine learning analyst
Master’s in Accounting graduates are also in high demand and can work in a range of industries. Everyone from public accounting firms to government organizations, financial institutions, and nonprofits need accountants. However, when it comes to job functions, graduates are typically limited to working as an accountant or an auditor earning around $69,000 to start.
Business Analytics or Accounting: The Top Programs
To earn your Master’s in Business Analytics or Accounting, there are many top programs across the country that are highly regarded. It all depends on your specific interests and goals.
If you want the best of both worlds, the USC Marshall School of Business is the only program to be in the top five for both degrees. It is highly regarded for offering great flexibility and quality curriculum.
In the Midwest, one of the top Master’s program for Business Analytics can be found at Purdue University’s Krannert School of Management. Its MS Business Analytics and Information Management program is 11 months long, affordable, and STEM-oriented. For a Master’s in Accounting, you should look toward the University of Illinois Gies College of Business, which offers the best STEM-designated accounting program in the country with a 98 percent job placement rate.
On the East Coast, MIT Sloan offers the best Master’s in Business Analytics program with 100 percent of the most recent graduating class earning employment offers by graduation. Whereas NYU Stern an excellent Master of Science in Accounting, ranked 9th overall by the U.S. News & World Report.
One Year Later: MBA Program Gender Parity at USC Marshall
Last fall, USC Marshall became the first top-tier MBA program to reach gender parity with the full-time MBA Class of 2020 having as many women as men. It was a massive 20-point percentage increase from the previous year when women made up just 32 percent of the class.
Now that almost a year has gone by, we wanted to reach back out to USC Marshall to see how reaching gender parity has affected this year’s class, the new recruiting season, the business marketplace, and more.
To gain insight into what’s happening at the school, we spoke with Evan Bouffides, assistant dean and director of MBA admissions, as well as Mark J. Brostoff, the assistant dean and director of graduate career services. They both offered unique perspectives on the impact of USC gender parity at the Marshall School of Business.
USC Marshall Class of 2021 Recruiting
While the Class of 2021 recruiting season is still ongoing, it’s not possible to gain a full picture of how achieving gender parity has affected the upcoming class, though Bouffides has witnessed a few changes.
Evan Bouffides, Assistant Dean and Director MBA Admissions, USC Marshall
“This year, industry-wide, many U.S. business schools were down in application volume, but USC Marshall received about the same number of applications as last year,” says Bouffides. At the same time, the “quality has gone way up.” As they’ve been reviewing applications for the Class of 2021, Bouffides believes the candidates have been stronger—both men and women.
Now, while that improvement cannot solely be laid at the feet of gender parity, it’s certainly a factor. Gender parity has made candidates more enthusiastic. Other factors include the continued improvement of USC Marshall’s rankings as well as the overall trajectory of the MBA program.
One thing that hasn’t changed is how Marshall is recruiting MBAs—with one exception.
After achieving gender parity last year and admitting the largest number of underrepresented minorities ever, USC Marshall has set their sights on international diversity, and particularly, international female diversity. “This is where we’re lagging behind,” explains Bouffides. “So, we concentrated our 2021 recruiting efforts on traveling to certain parts of the world including Africa, South East Asia, and Latin America where we haven’t gone before or often.”
Beyond that, Marshall held the same recruiting events as last year, including the third annual International Women’s Day Celebration Event in February. The event was extraordinarily well attended with even more enthusiasm this year over last.
Inside the First 50/50 Class
As for what’s happening with the class who achieved gender parity, you wouldn’t notice much difference from any previous class except that there are more women.
“If you break down the Class of 2020 into geography, academic area, or prospective career, there really isn’t a marked difference between students,” says Bouffides. “There’s definitely a story to be told being a class of 50/50 men and women, but we don’t know what that story is yet.”
What Marshall does know is that there has definitely been a positive vibe when it comes to having a gender equal MBA class. People appear to be generally happy with the achievement, and diversity and inclusion have been bigger than ever.
One noticeable change is the increase in women in leadership in the 40 MBA clubs and organizations. Women have always tended to take on more of those leadership roles, but now it’s even more recognizable.
Women in the Business Marketplace
As for the business marketplace, “obviously, there’s excitement about the fact there’s gender parity,” says Brostoff. And while it hasn’t opened up any floodgates in regards to internship recruiting or getting on the radar of new companies, there has been quite a bit of positive reaction. This is especially good news considering the Forté Foundation’s latest research, which revealed that gender inequality impacts almost half of all MBAs in the workplace.
Mark Brostoff, Assistant Dean and Director, USC Marshall Graduate Career Services
“We’ve had quite a few companies decide to start recruiting at USC Marshall when they might have been a little more hesitant in the past,” Brostoff explains. And while he wouldn’t lay all that success on the back of gender parity, it’s played a role, especially for tech companies.
Tech companies have been under the microscope recently for their obvious lack of gender equity, particularly in light of the #MeToo movement. And though those companies aren’t setting specific targets or quotas for the number of female employees they need, the fact that USC Marshall has so many female MBAs coming up is quite attractive. “Companies appreciate the opportunity to increase their gender inclusion initiatives,” says Brostoff.
As for what the career center is doing to continue this positive gender parity trajectory for the school, they’ve been looking to create more and more opportunities for women in business. For example, they recently hosted a new case competition on women in business, and they’ve been able to engage more female alumni and female executives to come to campus.
We’ll continue to keep an eye on gender parity at USC Marshall and keep you updated as we learn more.
This article has been edited and republished with permissions from its original source, Clear Admit.
The Big Picture: The 5 Most Important MBA Numbers of 2018
Each year there’s a ton of new information that comes out about MBA programs. From new rankings to the latest GMAC news, there are a thousand little tidbits that can overwhelm applicants, students, and alumni. We’ve collected the most important MBA numbers of 2018.
To pare down the news into the information you need to know, we’ve taken a look at the big picture of the MBA for 2018 and outlined the five most important pieces of data you need to know. We’re talking about everything from the decline and U.S. MBA applications to the increase in female enrollment, the higher salaries and GMAT scores, as well as the increase in interest in technology. Continue reading…
3 Online MBA Scholarships Worth Remembering
Navigating the maze of scholarships available to MBA students (really, students in general) can become a bit overwhelming. And for students hoping to earn a degree online, the search can seem never-ending. To help, we’ve broken down a handful of the most intriguing Online MBA scholarships.
How Online MBAs Use Technology to Enable Authentic Connections
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Technology has dramatically blurred the line between the digital and offline worlds; we can do almost anything online these days, ranging from ordering groceries to exploring Africa to attending college. However, one of the points of debate across nearly all fields is how the online experience compares to the parallel offline one; this has been especially true in online degree programs: Can online degrees provide the same value as their face-to-face counterparts?
The challenge of engaging and preparing students is two-fold for online degree programs. They need to cover the same key topics and transfer the same volume of knowledge as their on-ground counterparts. However, another part of the attraction of top MBA programs is that they not only develop students’ business acumen, they facilitate long-lasting connections that can lead to career opportunities and professional connections. That level of engagement presents a much bigger obstacle than catching someone’s attention long enough to complete a simple e-commerce transaction.
Technology in the Online Classroom: Two Major Lessons Learned
One of the things that makes a great online MBA successful is technology. Of course, if it were just an issue of investing in the latest and greatest tech solutions, every university would have successful digital learning programs. Further complicating things is the boom in technology built to solve this problem; which solution is best for the online classroom, and which will help build skills that will carry over into students’ careers.
After looking at some of the technology decisions at the University of Southern California’s Online MBA program, we found two major lessons for how to be successful with the kind of engagement these programs need to facilitate.
1. Innovate With Purpose
It’s easy to see the concerns over rapid technology evolution, whether you consider this 2015 New York Times article about innovation happening too quickly for businesses to keep up, or William Smith’s Morley, in which he wrote that widely available news and faster travel options would destroy relaxation as we know it, in 1886.
The technology we use will always be changing, whether it’s 1886 or 2186. One of the things that is hard to admit, though, is that the thinkers who said it would be impossible to keep up were right. Particularly at an organizational level, it really is impossible to stay current with every technology innovation that emerges.
The difference between success and failure—in the virtual classroom and in global business—is how they adapt new technologies to their environments.
One example of this in action comes from the University of Southern California’s Online MBA program. There are countless options for encouraging deeper collaboration and facilitating connections in an online setting, including a growing list of business collaboration tools as well as universities who opt to build their own social collaboration platforms. Sometimes, though, the answer is much simpler.
One of the things that stood out from USC’s Online MBA is that, in addition to the classroom sessions and videoconferencing, students chat and connect over WhatsApp. One of the biggest lessons from this experience is the fact that, sometimes, the best solution for a given problem is something students or employees are already using; it just needs to be embraced in a way that supports desired outcomes.
Why it Matters: Both businesses and universities may be reticent to allow important work and collaboration to exist outside of the platforms they control; and, there are certain instances (i.e. regulation) where allowing consumer-grade technology is a poor choice. However, embracing a student or employee-driven approach to collaboration is essential to making it work, particularly in a virtual setting. Rather than try to force students off the tool they’re comfortably using, USC can focus on smarter investments in other areas that are critical to online learning, like high quality video conferencing and learning management systems.
2. Outcomes First, Technology Second
It may seem counterintuitive at first, but the best strategies for utilizing technology don’t start by considering technology—they start by considering desired outcomes. If the goal is to facilitate the creation of real connections in a virtual space, using technology to enable this will need to feel natural and incorporate features that bring some of the same qualities of face-to-face interaction.
For online MBAs, there is a second and critical part to solving this challenge: Increasing students’ familiarity with tools that they will need to use in their professional lives.
For both businesses and higher education institutions, approaching this problem primarily from a technology perspective is the wrong approach. By thinking about desired outcomes, organizations can better guide their technology choices.
For example, with software for videoconferencing, there are myriad options. From a purely technical standpoint, many schools might first consider a solution like Blackboard Collaborate or Canvas’ built-in conference tools because so many already have Blackboard or Canvas for their Learning Management Systems.
These platforms may be enough from a functional standpoint, but, for developing true connections in an online MBA, user experience is an even more critical element of software used for video and teleconferencing. Considerations like these led USC’s Online MBA program to leverage Zoom, a dedicated communications platform, for conferencing in addition to the Canvas LMS for facilitating learning. Zoom lets students see the instructor, as well as their fellow classmates on live video, making it closer to face-to-face interaction than many alternatives. It’s also easier to schedule meetings on short notice with the ability to send calendar invites, offering similarity to the spontaneous brainstorming sessions that might happen in a classroom or office.
Why it Matters: The best solution for a given problem isn’t always the one that comes integrated with the rest of the software organizations already have. Especially for an online MBA, it’s also important to consider technology that has value beyond the classroom, as this will better equip students to succeed in their careers. The second component of this is to think about software that readily integrates with platforms people use in their daily lives anyway. Even if it is just the ability to send a meeting invite over Google Calendar, individual features can make the difference.
The Results: When Technology is Used Effectively
The biggest result of USC’s smart use of technology is that students can and do form real connections that lead to face-to-face interaction. For example, many students organize meet-ups in their area, so that those who live away from campus can still participate in the Online MBA community.
The deeper social connections, coupled with classroom learning and group discussions, also create unique opportunities that would not be as easily made without digital engagement. In USC’s case, one team of students in the recent cohort is planning to open their own business together.
The Bottom Line: Universities have historically struggled to keep pace with technology adoption. Regardless of whether a program is online, offered on-campus or uses a hybrid approach, though, the best MBA programs will stay ahead of the curve by considering outcomes first and avoiding the temptation to innovate without a clear purpose.
