Dec 5, 2017

Hiring Practices Examined in New UMD Smith Research

UMD Smith hiring research

Did you know that about half of job openings go to friends and acquaintances of high-powered individuals within an organization? We’ve always been told it’s about who you know, not what you know, after all.

Yes, referral-based hiring come across as a little sketchy, but many human resource departments actually encourage the strategy. But despite that, a research paper co-written by two Robert H. Smith School of Business scholars shows that hiring managers invite harsh moral judgments when they give jobs to friends and acquaintances referred to them.

Entitled “Compromised Ethics in Hiring Processes? How Referrers’ Power Affects Employees’ Reactions to Referral Practices,” the author’s note; “When the referrer is powerful, observers will believe the hiring manager is attempting to increase the referrer’s dependence on him/her, ultimately resulting in future benefits for the hiring manager.”

The research was authored by UMD Smith professor Rellie Derfler-Rozin, Ph.D. candidate Bradford Baker, and Harvard Business School professor Francesca Gino and published in the Academy of Management Journal. They found that hiring managers appear self-serving and unethical to others in the organization, which can disrupt workplace chemistry and even hurt support for the new hire.

“Referral practices can be seen as morally murky territory in which special interests and the exchange of favors dominate, above and beyond merit,” the authors wrote.

However, they also found that referral-based hiring practices have advantages: Not only do referrers usually have inside information about the applicants they recommend, but they also have incentives to train, mentor, and monitor them as well. Additionally, new hires want to perform well so they don’t embarrass the referrers who put trust in them.

Ultimately, the research does not suggest that companies should stop referral-based hiring, but that hiring managers and the people who give referrals should be mindful of the power dynamics involved.

“One suggestion could be creating a system in which referrers are anonymous, at least for an initial period of time pre and post-hire, while simultaneously providing enhanced transparency regarding the reasons for the referral,” the authors write.

You can read the entire research paper “Compromised Ethics in Hiring Processes? How Referrers’ Power Affects Employees’ Reactions to Referral Practices” here.

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Dec 4, 2017

Tuition Cost vs. Starting Salary: Atlanta

Atlanta MBA Return on Investment

One of the most important things a prospective MBA can look for when choosing a business school is the program’s return on investment. Return on investment, or ROI, is the most common profitability ratio, and an easy way to determine if an MBA is “worth” your time and money.

According to a recent review of 129 schools from U.S. News & World Report, graduates from a third of the institutions earned an average starting salary and bonus of more than $100,000, with the overall average for all schools coming in at $91,940. MBA Class of 2015 graduates typically left school with just over $50,054 in debt, according to the same data.

Most business schools publish employment records with average salaries for different industries, so prospective MBA students can use these numbers to project future salaries. Lucky for you, we’ve compiled these figures some of the Atlanta metro‘s premiere business schools.

The Atlanta MBA Return on Investment

Clark Atlanta University School of Business

A full-time MBA at the Clark Atlanta School of Business requires 60 credit hours of study, which totals up to $53,220 in tuition. Other costs also apply, including $1,008 in annual fees as well as books and supplies. To save some money for sibling students, Clark offers a Sibling Discount to a biological or legally adopted sibling currently enrolled at Clark Atlanta University. Siblings will receive a 33.3 percent discount after submitting a copy of both birth certificates, parent’s federal tax return and a simple application.

According to employment statistics provided by the school, MBA graduates earn an average base salary of $79,000 with a signing bonus of $12,250. Most graduates took marketing/sales jobs (59.7 percent), with finance/accounting (29.7 percent), human resources (7.4 percent), and operations (7.4 percent) following behind. In order to help place MBAs, the Atlanta University Center Consortium Career Planning and Placement Service (AUCC CPPS) offers students career planning and placement resources, plans on-campus recruiting events and hosts a database of contact information for over 1400 corporate, government and educational partners. They also host several on-campus recruiting sessions and career fairs.

Eugene W. Stetson School of Business & Economics – Mercer University

Full-time MBAs at Mercer’s Eugene W. Stetson School of Business & Economics pay $818 per credit hour, with total tuition for the program coming to $29,448 with some additional minimal costs, such as a technology fee. Students can visit the university’s Office of Student Financial Planning to receive updated financial assistance information, including information on federal student loan programs.

According to U.S. News, Mercer MBAs earn an average base salary of $57,500, with 23.8 percent of full-time graduates employed at the time of graduation. Mercer students can visit the Office of Career Management Services on the Macon or Atlanta Campus to receive specialized career guidance, job search, internship search, résumé and cover letter assistance, developing personal brand information, interviewing information, and salary negotiating.

Goizueta Business School – Emory University

Students enrolled in Emory University’s Goizueta Business School two-year, full-time MBA program pay a base tuition of $59,000 per year, while those enrolled in the one-year program pay about $89,500. These cost account for tuition only, so students must consider additional expenses for textbooks and other fees. To offset some of these costs, financial assistance is available in the form of Federal Stafford Loans, graduate plus loans, private loans, international student loans, research and assistantships, merit-based scholarships, fellowships from the Goizueta Business Fund for Excellence and fellowships at various constituent centers.

According to Goizueta’s most recent MBA employment report, the school’s alumni are among the top for post-graduate employment nationwide, with nearly 95 percent of students receiving job offers within three months after graduating and an average full-time base salary of $113,295. Goizueta Business School’s Career Management Center (CMC) offers assistance to full-time MBAs in their job search. Students can receive professional development and interview training within both core and elective courses, preparing students for both the internship and job search processes. Most Emory MBAs were offered post-graduate employment following an internship (56 percent), with another 19 percent getting job offers thanks to School Scheduled Interviews.

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Scheller College of Business – Georgia Institute of Technology

Tuition costs for Georgia Tech Scheller College of Business full-time MBA students are about $29,232 a year for Georgia residents or $40,180 a year for out-of-state residents, as well as $2,010 in mandatory fees. Financial assistance is available in the form of federal loans, graduate assistantships, and a limited number of fellowships.

According to the school’s MBA Compensation Overview, 95 percent of Scheller MBAs are employed within three months of graduation. These students are paid an average starting salary of $108,088. Meanwhile, 90 percent of graduates earn a signing bonus, which average to the amount of $15,830. Scheller MBA students are guided along the path to employment at the Jones MBA Career Center, where they learn about opportunities for internships and employment through one-on-one advisement, an eight-week career development workshop, self-assessment tools, interview preparation, and a series of conferences and career fairs

Terry College of Business – University of Georgia

Terrt’s in-state students pay about $15,670 in annual tuition, including student fees, for the Terry College of Business‘ full-time MBA. Non-residents pay $34,378 per year, including student fees. The school also awards approximately one-third of its students with graduate assistantships to help make the program even more affordable. Some students may have their tuition drastically reduced per semester, get 40 percent of their student health insurance premiums paid by UGS, and receive a monthly stipend for working 13 hours per week in the Terry College of Business. Additional scholarships are also available, such as the Terry MBA Leadership Scholarship. Given out during the spring semester, the scholarship awards between $1,000 to $2,000 to a student who has shown promising leadership skills.

According to the school’s MBA Employment Statistics, 90 percent of University of Georgia full-time MBA students receive a job offer within three months of graduating with an averaging starting salary near $90,250. Terry helps its students gain employment at the MBA Career Management Center (CMC), which helps students and graduates connect with networking events, information sessions, interviews, and much more.

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Nov 29, 2017

Georgetown McDonough MBAs Launch HoyAnalytics Club

HoyAnalytics Club

A group of Evening MBA students at the Georgetown University McDonough School of Business recently launched HoyAnalytics—a student organization focusing on statistics and data analytics. Though the club is is pending official sponsorship by the MBA Program Office, it has drawn a lot of interest in the McDonough School of Business.

According to the McDonough School, HoyAlytics is the first club organized by Evening MBA students. The organization’s board is made up of both full-time and Evening program students, and was created with unifying the two MBA programs in mind.

But the organization’s two main objectives are to create a community for those interested in statistics and analytics, as well as help those who are not already data-savvy gain quantitative skills. As statistics and analytics have become prevalent in more and more industries, HoyAlytics hopes to prepare MBAs for their careers.

“The club is on the cutting edge,” said Kenny Tan (MBA’19), one of the HoyAlytics founders. “Students are taking it in their own hands to make things happen.”

According to McDonough, the club recently held a free Excel workshop with nearly 40 full-time and Evening MBA students in attendance, and plans to continue holding workshops to teach different skills and software, such as Tableau, SAS, R, and SQL, as well as inviting guest speakers.

Student organizations and clubs generally provide great networking and professional benefits, such as access to industry leaders, professional development opportunities and the ability to make a real impact. A U.S. News & World Report list describes the following as reasons why it’s a good decision to get involved in a club in college:

  • It allows students to become connected to their school
  • It helps them build community
  • It allows them to discover their passions and strengths
  • It’s a résumé builder
  • Sometimes, busier people do better
  • Utilize your school’s resources

Check out some of the coolest MBA clubs and student organization’s in the Washington DC Metro here.

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Nov 28, 2017

Tech Grads Surge in New Northwestern Kellogg Employment Report

Northwestern Tech Jobs

The Kellogg School of Management released new employment data and statistics from the Class of 2017. According to the school, 94 percent of Kellogg’s full-time MBA Class of 2017 received an offer within three months of graduation.

“Kellogg leaders take a multidisciplinary approach to solving complex business challenges,” said Matt Merrick, Associate Dean of MBA Operations. “The versatile skills they hone at Kellogg enable them to make an immediate impact across all types of organizations.”

MBAs were hired by a wide variety of companies across all disciplines and industries, shapes and sizes. Some of the top companies hiring Kellogg students include McKinsey & Company, The Boston Consulting Group, Amazon, Bain & Company, and Microsoft.

Employment data shows that the most popular industries were consulting (33 percent), technology (25 percent), finance (13 percent) and CPG (12 percent). The Kellogg Career Management Center helped students establish relationships with more than 50 technology companies in order to help secure these employment opportunities. Overall, the Career Management Center works with employers to create custom recruiting strategies, forging deep relationships with employers of all sizes, from all industries and regions.

According to our sister site Clear Admit, the 25 percent of Kellogg grads that landed jobs in the technology industry was a school record.

Jeanette Brown writes:

Amazon hired 32 Kellogg grads, making it the third largest recruiter in 2017, behind only McKinsey and Boston Consulting Group (BCG). But Amazon was far from the only tech firm to hire at the school. ‘It’s not only the big employers like Amazon, Apple, Google—but the small companies as well, the ones that hire just one to two MBAs,’ explains Liza Kirkpatrick, Senior Director of the full-time MBA program at Kellogg’s Career Management Center. ‘We had over 50 unique tech employers that hired our students this past year, which demonstrates that we really have that depth.’ Kirkpatrick further noted that the types of jobs for which tech firms are hiring Kellogg grads is widely varied, including product management, sales, marketing, business operations, supply chain, product development, and others.”

Kirkpatrick notes that the surge in tech jobs stems from a concerted effort from the business school, which was also reflected in the number of technology industry internships for the Class of 2018.

“‘We started developing relationships in the tech space many years ago,’ acknowledges Kirkpatrick. ‘It has taken a while for firms to recognize that when an MBA comes on board, it really adds value.’ But they certainly have, which can also be seen reflected in the number of tech firms that now take on summer interns. ‘They have really organized themselves to bring on an MBA class as interns as a result,’ Kirkpatrick adds. The most recent employment report reveals that 26 percent of the Class of 2018 interned at technology firms.”

In a press release from the school, Jodi Washington, a Program Manager for the Networking and Security Transformation team, said, “Kellogg’s curriculum builds leaders who are strong analytical thinkers and are confident collaborating across organizations. The Kellogg graduates we hire jump in on day one, but also continue to mature at Cisco.”

2017 statistics/photo courtesy of Northwestern Kellogg.

The statistics show that the number of Kellogg MBAs to accept job offers on the West Coast has also increased (31.4 percent) from last year, a direct correlation to uptick in tech hires. Meanwhile, 30 percent of 2017 MBAs stayed in the Midwest and 33 percent accepted jobs on the East Coast.

You can read more on Kellogg’s latest employment stats and the Clear Admit interview with Kellogg Senior Director of Career Management Liza Kirkpatrick here.

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Nov 27, 2017

Marshall Online MBAs Tap into IBM Watson For Business Solutions


Online MBAs enrolled in the USC Marshall School of Business’ Opportunity Recognition and Implementation course were recently tasked with developing a startup that takes advantage of the supercomputing capabilities of IBM Watson, the tech company’s flagship artificial intelligence system.

The course, taught by Professor of Clinical Business Communication Pete Cardon and Associate Professor of Clinical Entrepreneurship Elissa Grossman, has been part of the MBA curriculum at Marshall for two years. The project, meanwhile, goes as follows: Students studied how Watson’s analytics software works, and then identified a problem they can solve with that technology. Each team then formulated a business plan that could be introduced and put into action, and pitch it to a panel of entrepreneurs and venture capitalists.

“This is not an abstract exercise,” Cardon told USC Marshall. “This is a very intense project that places students in a situation where they are thinking about how to use cutting-edge technology for new products. And we provide access to the people who are really doing this—the experts at IBM.”

Each MBA team was supported by IBM mentors and experts, such as Daryl Pereira, the Creative Content Director of Watson and Cloud Platform. Pereira told USC Marshall that IBM’s collaboration with the school and it’s Online MBAs has produced impressive results.

“We knew it would be exciting partnering with USC to explore the possibilities of artificial intelligence with the brightest business minds,” Pereira said. “What we weren’t prepared for was the creativity in the startup ideas from the students: everything from the automated review of legal contracts to the creation of a data-driven record label.”

This year’s winning was the Music Predictor, a plan drawn up by the MBA team of Steven Truong, Michele Rosette, and Erin Young. The predictor was described as “a cognitive tool that analyzed song metadata and social media to provide projections of future revenue for a potential song, allowing smaller record labels to refine their budgets.” As the winner of the pitch competition, the Music Predictor team earned an invitation to the IBM Watson Developer Conference.

“We spent a significant part of our time applying our fresh business knowledge to the various IBM technologies that were showcased,” Troung said. “We discussed feasibility of novel technology-business concepts, pondered the unmet market needs for various exhibitions and discussed real startups with more veteran entrepreneurs that are in high-growth technology spaces.”

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Nov 22, 2017

Notre Dame Mendoza Team Takes Top Prize in Annual International Case Competition

Notre Dame International Case Competition

A team of Notre Dame Mendoza School of Business MBA students won first place and a cash prize of $5,000 in the 22nd Annual International Case Competition (ICC). The competition was held earlier this month at Carnegie Mellon’s Tepper School of Business and was organized by Tepper’s Operations Management Club.

The competition provides student teams experience in organizing and prioritizing issues, applying decision-making skills, working in teams, and developing innovative solutions—all under the pressure of competition, according to the Operations Management Club. The competition unfolds over two rounds—a 20-minute presentation followed by a 10-minute Q&A session in the first round, and a 30-minute presentation to the judges in the finals.

The Mendoza team was made up of Christopher Kunnen (’18), Austin Gilbertson (’19), and Zachary Kozak (’18). They beat out 10 teams from top universities across the country, including MIT Sloan School of Management and Carnegie Mellon University Tepper School of Business.

“Overall, case competitions are a great experiential component to the MBA experience,” Kozak said. “The competitions combine both real-world problem solving and simulating the time-constraint project management challenges that we as professionals will experience in the future.”

Mendoza’s MBA winners, from left to right: Zachary Kozak, Christopher Kunnen, and Austin Gilbertson/Photo courtesy of the Mendoza College of Business

The Notre Dame MBA team won thanks to their ability to identify the key issues in the case and its development of data-driven insights and recommendations that went beyond expectations.

“We employed a key take-away from one of our favorite professors, Dan Connors, who teaches the course Lessons from Turnaround Situations in the fall term,” Kozak said. “Dan, a former Bain consultant, conveyed to us early on to follow the strategy of ‘Listen, Deliver and then Add’ for any business problem. We replicated this approach when analyzing the problem and then building our presentation.”

ICC also connects leading operations talent with multinational sponsor companies for networking and recruiting opportunities, including Eaton, Amazon, and Emerson.

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