MBA Deadline Dates You Should Know in September
September may mean that summer’s over, but it’s also a time to start to look forward to new beginnings! Stay on track of September MBA deadlines and get those mid-fall and winter program intake applications in. Continue reading…
Penn State Supply Chain Program Earns Top Ranking
For the fifth time since 2008, Gartner, Inc. has ranked the Penn State Smeal College of Business as the best supply chain graduate program in the United States. The Penn State Supply Chain program earned top scores in three categories for this year’s ranking: “program scope, industry value, and program size.”
On news of the ranking, Nicholas C. Petruzzi, Chair of the Department of Supply Chain and Information Systems, says, “Retaining the No. 1 ranking for graduate supply chain education provides great affirmation for the rigor, relevance, and impact of our professional supply chain programs.”
“We take pride in this news, and being recognized as a leader in supply chain education is a testament to the dedicated and tireless efforts of our faculty and staff, students, alumni, and recruiters.”
The news of the placement came only a few weeks after Gartner, Inc. announced its undergraduate ranking, which was also awarded to Penn State University.
Smeal earned top honors for its supply chain program for the fifth time since 2008 on the Gartner, Inc. rankings.
The full, official supply chain ranking from Gartner, Inc. will be released in the near future. Head over to the official Penn State Supply Chain website for more information on the program.
Are Business School Neighborhoods Becoming More Gentrified?
When universities are found in downtown urban areas, gentrification most often follows. It almost seems inevitable since universities bring in more individuals with higher education, draw in more money, and increase new businesses. But what does the rapid increase of gentrification statistics mean for the business school students looking to start their career in a new area?
What Is Gentrification?
First, we need to look at what gentrification is. In simple terms, it’s the influx of more affluent residents moving into urbanized neighborhoods. At the outset, it may sound good, but it can be controversial.
Gentrification may improve the financial quality of a neighborhood, but it can also force the relocation of current residents and businesses due to increasing costs. Often, the process of gentrification also shifts a neighborhood’s racial and ethnic composition, as well as the average household income. This can lead to community displacement for lower-income families in gentrified areas, some of which often live in the area for several generations.
However, there is a grey area. Gentrification happens when a location becomes increasingly attractive. At that point, more high-income individuals move into the area bringing in investments in the community and leading to improved infrastructure and economic development.
What Causes Gentrification?
According to a recent comprehensive review of gentrification completed by researchers at UC Berkeley and UCLA, gentrification most often occurs when more public transportation is available. People are more attracted to transit hubs because they allow more privileged groups to trade car commutes for transit and signal a large-scale commitment to neighborhood upgrading, which, in turn, leads to increased employment opportunities.
Another spur to gentrification is education. Quality schools, universities, colleges, and medical centers tend to shape gentrification. The substantial federal support that public universities receive brings money into neighborhoods through many means including housing and housing subsidies for faculty and staff. A CityLab study revealed that universities and other academic institutions are key to attracting the creative class, creating more market demand and political pressure for better amenities, schools, and other services.
Analyzing University Neighborhood Gentrification Statistics
Since universities have such an impact on gentrification, we thought we’d take a look at what areas and schools have been most affected. While gentrification is not something most urban areas should aspire for, it happens, and it’s important to know where it’s occurring the most.
To find out, we looked at a recent study by RentCafe of the most gentrified areas in the U.S. The study took a look at the 2000 Census and the 2016 American Community Survey to see the changes that took place over a decade and a half across 1,000 U.S. ZIP codes. The study found that there are easy ways to quantify gentrification statistics when looking at median home value, median household income, and the population that holds a bachelor’s or higher degree.
Based on the results of the study, we analyzed the top five MetroMBA universities in gentrified areas.
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University of Southern California
Located less than five miles away from ZIP code 90014 in Los Angeles, USC Marshall is just on the edge of the most gentrified area in the U.S. Over the last 16 years, this area has witnessed:
- A 707 percent increase in home values
- A 95 percent increase in median household income
- And an 857 percent increase in people holding bachelors or higher degrees
So, while some at USC might be fighting gentrification, it may not be working. Just last year, USC opened up a brand-new $700 million USC Village with a Target Express, Trader Joe’s, and 15 restaurants, transforming the surrounding neighborhood. And even though as part of the development USC provided $20 million for construction of off-site subsidized housing, there are still concerns.
“Across the street, land values are going to increase,” Joe Donlin, Associate Director of Strategic Actions for a Just Economy, told KPCC. “We know the landlords are going to rent at higher levels of rent.”
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Howard University
Located in Washington, D.C. Zip Code 20001, Howard University’s campus is located directly in the second most gentrified area in the U.S. Over 16 years, the area has witnessed:
- A 207 percent increase in home values
- A 163 percent increase in median household income
- And a 212 percent increase in people holding bachelors or higher degrees
The gentrification statistics of the Howard University area hasn’t gone unnoticed. According to NPR, there has been a drastic change:
“The area, located just a couple of miles north of Capitol Hill, was once working-class and black. But as hundreds of new residents move to D.C. each month, more non-black residents move into Howard’s neighborhood. And as property values rise, the university is trying to capitalize on the hot real estate market.”
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University of Houston — Downtown
Located just steps away from zip code 77003, The University of Houston campus is located near the third most gentrified area in the U.S. In the last decade and a half, the area has seen:
- A 284 percent increase in home values
- A 71 percent increase in median household income
- And a 443 percent increase in people holding bachelors or higher degrees
Much of the gentrification can be laid at the university’s feet as its student housing footprint has expanded into surrounding neighborhoods over the last decades. According to the Houston Chronicle, “In the portion of the neighborhood closest to downtown, which includes Emancipation Park, median home values increased 176 percent between 2000 and 2013, according to an analysis of census estimates conducted by Governing.”
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University of Pennsylvania
The Wharton School at UPenn is less than five miles outside the fourth most gentrified neighborhood in the country: zip code 19123. This area, over the last 16 years, has noticed:
- A 203 percent increase in home values
- A 95 percent increase in median household income
- And a 230 percent increase in people holding bachelors or higher degrees.
In fact, UPenn has had a complicated history with gentrification over the years, dubbed Penntrification by some. The problem, according to The Daily Pennsylvania, is that in West Philadelphia Penn students’ demand for housing is displacing low-income families. There have even been protests criticizing the university for causing gentrification in the area.
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Texas Christian University
Fort Worth, TX, contains the sixth most gentrified area in the U.S.; just two miles away from Texas Christian University (TCU). Over 16 years, the area has witnessed:
- A 323 percent increase in home values
- A 103 percent increase in median household income
- And a 122 percent increase in people holding bachelors or higher degrees
While Fort Worth’s growth has brought new life to the city’s urban core, it’s also sky-rocketed property values. In particular, the areas around TCU are growing quickly. The university recently completed a $100 million renovation for its football stadium—just five years after its last overhaul, which reportedly cost $164 million.
New MBA Jobs: IBM, BB&T, Comcast, Deloitte, and Chevron
Want to know the best new MBA jobs out there? This guide is where you want to be. Browse some of the top job openings at the following top MBA employers below, and apply today! Continue reading…
Don’t Forget These August MBA Deadlines
While many prospective business school students are in the midst of relaxing during the apex of summer, a handful of application deadlines are on the horizon near the start of the next academic year. Here are the August MBA deadlines you need to know!
Forbes, Statista Analyze The Best U.S. Employers for Women
Forbes, in partnership with German data company Statista, surveyed over 40,000 U.S. employees (including 25,000 women) that worked for companies that had at least 1,000 total employees in an effort to find which companies were the best US employers for women. While several big-name companies earned high marks, one particular Iowa-based company managed to stand out among the competition.
The first set of criteria Forbes and Statista analyzed to calculate its best US employers for women ranking centered around factors such as working conditions, diversity, and “how likely they’d be to recommend their employer to others.” When accounting for the men in the survey, in contrast to the women that were asked the same set of questions, scores were adjusted if the differences if answers became apparent. For example, Statista would adjust scores if men in the survey said a company had a lot of diversity, but women said that the same company did not.
The following set of criteria used in the survey, specifically for the female respondents, focused on “on factors such as parental leave, discrimination, and pay equity,” as well as nominated companies outside of the one they happen to work for. “The final list ranks the 300 employers that both received the most recommendations and boast the most gender diverse boards and executive ranks,” Forbes says.
Des Moines, Iowa company Principal Financial Group was the best U.S. company for women, according to Statista data.
Principal Financial Group, based out of Des Moines, Iowa, earned the highest honors for the 2018 ranking, with an official score of 91.4. The company, ranked 210th overall on the Fortune 500 list, employs 9,978 U.S. workers, nearly 60 percent of which are women. Speaking with Forbes, Kerry Gumm, the Principal Capital Director of Human Resources Strategy, says, “It really does start with the culture of the organization.”
“You can have a holistic life if you’re part of this organization,” she adds. “I’ve not felt the need to compromise in any way.”
Principal Financial Group earned high recommendations because of its benefits, which include “flexible work schedules, prenatal care programs, and an onsite childcare center.” The company also manages an annual review of all of its pay practices to better combat any potential biases, alongside an anonymous call center to help discuss compensation disputes. Not to be outdone, the company also implements rigorous standards in helping its own employees earn promotions, of which include “three women’s networks for those in leadership, technology, and sales roles.” In contrast to many of the companies listed in the aforementioned Fortune 500 listing, 42 percent of executive roles and 45 percent of the boards seats are held by women Principal Capital Group.
The University of Pennsylvania Health System, more commonly referred to as Penn Medicine, earned the number two spot on the ranking. The organization has over 35,000 U.S. employees; the third highest among the top ten ranked companies. With a significantly larger employee base than Principal Financial, Penn Medicine also has one of the largest percentages of female employees in the country at 77 percent. This also includes 55 percent women in the organization’s executive roles, as well as five out of its seven CEOs.
Card manufacturer Hallmark, based in Kansas City, Missouri, rounded out the top three. The company sports the smallest employee base out of any company in the top 10, with 2,500 U.S. employees. However, Hallmark featured an even larger portion of U.S. female employees than Penn Medicine, with a figure of 83 percent overall. About 70 percent of the Hallmark board is also held by women.
Several of the nation’s most prominent universities also managed to land in the top 50 of the new ranking, the highest of which was Harvard University at 9th overall. New York University, UVA, Stanford, and Emory University also earned high honors in the 2018 best US employers for women ranking.
2018 Best US Employers for Women
| Ranking | Company | # of U.S. Employees |
|---|---|---|
| 1 | Principal Financial Group | 9,978 |
| 2 | Penn Medicine | 35,273 |
| 3 | Hallmark | 2,500 |
| 4 | BayCare | 25,600 |
| 5 | Oregon Health & Science University | 15,642 |
| 6 | Keller Williams Realty | 154,000 |
| 7 | Boston Children's Hospital | 5,001 |
| 8 | Providence Health & Services | 82,000 |
| 9 | Harvard University | 18,724 |
| 10 | Gwinnett County Public Schools | 23,300 |
