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2009 Top 100 ‘Most Desired’ Employers Chosen by MBA Grads

Universum’s annual rankings are out on the Top 100 Companies that MBA grads long to work for. Who’s who this year? Well, Google takes #1 spot as usual (3rd year in a row) but there have been some interesting shifts this year.

First, the top 15:

  1. Google
  2. McKinsey & Company
  3. Bain & Company
  4. Goldman Sachs
  5. Apple Computer
  6. The Boston Consulting Group
  7. Walt Disney
  8. Nike
  9. J.P. Morgan
  10. Johnson & Johnson
  11. The Blackstone Group
  12. Microsoft
  13. General Electric
  14. Morgan Stanley
  15. IDEO

Now, on to some analysis: Gone, of course, is investment bank Lehman Brothers (which collapsed last fall); Merrill Lynch (no longer an independent firm after being bought by Bank of America in September) plummeted to no. 55 from no. 18 last year. Some financial services firms, though, managed to stay in the top 15, including J.P. Morgan, Morgan Stanley and Goldman Sachs (now a bank holding company).

Big players like General Electric and Johnson & Johnson also were able to stay in the top 15 thanks to their strong brand and reputation, says Claudia Tattanelli, CEO of Universum North America.

But with consumer spending down, retail companies didn’t fare as well this year as they have in the past. Caffeine-purveyor Starbucks, for example, slid to no. 27 from no. 17, while discounter Target dropped to no. 44 from 26.

Less concerned with a prospective employer’s prestige, MBAs are broadening their horizons this year, Tattanelli says. Instead, they’re more interested in finding innovative companies with positive work environments.

“MBAs have opened up to a whole new set of employers,” she says.

One newcomer, Blackstone Group, is the first and only private equity firm to ever make the list. President and COO Tony James credits the firm’s appeal to the access and exposure its 15 or 18 new hires a year receive.

“We try to offer an extraordinary professional experience,” he said. Incoming associates are teamed with more senior executives on high-level projects and they “are equal in any discussion – that’s exhilarating,” James said.

Also making an impressive first showing was Palo Alto-based design firm, IDEO, at No. 15. The 500-person company is responsible for Crest’s Neat Squeeze, Tivo’s set top box and remote control and, most recently, Bank of America’s “Keep the Change” program.

When IDEO held an on-campus recruiting event at Wharton this year, “the room was packed,” Tattanelli said.

Data from more than 6,000 respondents at 58 top programs proves that MBAs are less willing to sacrifice challenging work, a competitive salary, and professional development for greater job security than undergraduates, who placed characteristics such as stability and security above all else.

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How Pepperdine’s MBA School Goes Up Against the Big Names

You’ve likely heard of Pepperdine, but maybe not its business school — Graziadio. I wasn’t sure how to pronounce it, and the Associate Dean of Full-Time MBA Programs tells me it’s like Graz-ee-ah-De-o, which translates to thanks to God.
Dr Mark Mallinger says there’s more one-on-one opportunity for students than you’ll find at the big name schools, like Harvard. He says the faculty is committed to student development. The goal of the school is collaborative, rather than competitive. He says that atmosphere enhances the ability for students to creative a collaborative network.
Mallinger says the students who take initiative to demonstrate their leadership abilities, end up doing as well as students from reputational schools. For example, the two-year MBA students who he’s identified as leaders who have recently graduated “and almost in every case, they already have had, they’ve got their jobs.” He says they’re working at AT&T, Bank of America, consulting firms and other companies that have worked with the students in internship positions.
Mallinger admits that having a campus in Malibu may slow some students from making contacts and taking those leadership roles. I asked him to compare what students get at Graziadio versus a big name MBA school — and he says their students get an experience-driven education that develops ethical leaders who can create solutions for business challenges. The small class size, opportunity to develop skills while working in teams, and close faculty focus makes the school unique. You’ll be able to hear the finished show in a few weeks on MBA Podcaster.

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Schools are Making it Easier to get a JD/MBA

The Wall Street Journal came out with a great report today detailing how schools are trying to make it easier for students to get their JD/MBA degree in a shorter amount of time and with less red tape that is usually associated with dual degrees.

According to the report the JD/MBA is offered at around 42 schools across the country. Total enrollment in such programs fell from 330 to 287 students between the 2005-06 and 2007-08 school years, according to a recent survey by AACSB International, which accredits business management and accounting programs. The numbers are dropping as more and more students realize they want to start their careers sooner and start earning money to pay back the graduate school loans they’ve accumulated.

In response, a handful of schools are offering fast-tracked, condensed programs. Starting this fall, the University of Pennsylvania will offer a J.D./M.B.A. in seven semesters squeezed into three years (as opposed to the usual eight semesters over four years), including one summer semester between the first two years.

In Northwestern’s shorter program, students complete the core requirements for both the law and business schools and then cherry-pick electives from either curriculum. This year, applications shot up 50% to 250, says Beth Flye, director of admissions for the university’s Kellogg School of Management.

Yale will offer its coming three-year J.D./M.B.A. program without any required summer classes. The shorter joint degree aims to develop analytic and quantitative skills that are beyond what law schools traditionally offer, says Sharon Oster, dean of Yale’s School of Management. The four-year degree will still be offered but will go deeper into certain subjects.

“Someone who’s interested in a career in something specific, such as real-estate finance, would probably want to do a four-year,” Ms. Oster says. “But for those who want something more general, the three-year is a great option.”

Of course, there are advantages of a longer program. One is the added time for forming relationships with classmates and professors or spending time abroad. The multiple summers also allow students to “test-drive” multiple career paths. Some of the shorter programs require students to take summer courses, meaning less time for internships. And students in three-year programs often have such jam-packed schedules they aren’t able to participate in law reviews or take as many elective courses.

Some schools are saying that the full four years are necessary to adequately prepare for a career in either law or business, let alone for a potential career combining both.

Larry Kramer, dean of Stanford University Law School, says the school thought about shortening its four-year program to three years, but decided against it. “We considered it because of the competition for students,” says Mr. Kramer. “Unaltered, the programs are five years’ worth of study. To cut 40% was just not responsible.”

(Updated! Listen to our JD MBA show here: http://www.mbapodcaster.com/MBA_MoreInfo/JD-MBA.asp?iEpisode=86)
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Tulane — or a Big Name MBA School?

Tulane is for students “who are bigger than themselves” — especially in the wake of Hurricane Katrina’s destruction. That’s what Bill Hydrick tells me when I call. Bill is Director of Media Services at Tulane. We’re talking about the question potential MBA students might consider — is it better to stay near home to pursue their business education, or to shoot for a big name business school. It’s a show I’m working on right now for MBA Podcaster.

Part of the issue, Hydrick points out, is that if you say you went to Harvard, everyone knows the brand. But only in the South does it count heavily that you went to Tulane. The school is getting its faculty in front the business community via CNBC, Fox and others to raise its image.

Meanwhile, Tulane business students get heavily involved in the community — raising economic literacy and networking. Hydrick says he can’t speak for the 2009 class yet, but the 2008 class was 93.5% employed within six months, with an average salary topping $83K. Several MBA students began their careers at NY brokerage houses with salaries over $150K. Tulane boasts two well-respected programs — energy and finance. Companies such as Entergy, Goldman Sachs, Shell Oil, Capitol One and Bank of America frequently recruit on campus.

That’s the theme that’s beginning to build as I interview representatives at various regional schools — students can escape the pull of home, if they want, but there’s a special personalized quality they just can’t get at a big name business school.

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Summary of Free GMAT Classes That Are Currently Being Offered

Many test-prep companies these days are offering free sample GMAT classes. Take advantage of the offers, test out the various companies and find a teacher that really clicks with you.

1. ManhattanGMAT: http://www.manhattangmat.com/free-events-select-location.cfm
Free class at many locations across the U.S. They also offer a free CAT, study flashcards and free online trial classes
For $100 off any ManhattanGMAT class, use the promo code Podcaster when registering

2. Veritas Prep: http://blog.veritasprep.com/2009/05/veritas-prep-free-trial-gmat-class.html
Free class in Los Angeles, Chicago & Boston. They also offer a free CAT; a free GMAT iPhone study application
For $150 off any Veritas class, use the discount code pod150 when registering

3. Princeton Review: http://www.princetonreview.com/bootcamps.aspx
Free GMAT “bootcamps” across the country
For $100 off any Princeton Review class, use the promotional code NAMPOD when registering

4. Kaplan: http://www.kaptest.com/mbapodcaster
Scroll down the page to “attend free event”
For 10% off every one of Kaplan’s GMAT comprehensive options use code MBAPOD10 when registering

5. MBA Math: http://www.mbamath.com/podcast.htm
$10 off MBA Math’s pre-MBA math prep course. Hit the ground running before you come to campus and/or show the admission’s committee that you have the right quant skills under your belt especially if you’re weak on GMAT Math.

Let us know if we missed anyone!

And here are our shows about the GMAT:
1. Test Taking Tips from Test Prep Masters: http://www.mbapodcaster.com/MBA_MoreInfo/gmat-test-taking-tips.asp?iEpisode=77

2. Comparing GMAT Test Prep Companies: http://www.mbapodcaster.com/MBA_MoreInfo/GMATComparison.asp?iEpisode=54

3. The GMAT, Everything You Need to Know: http://www.mbapodcaster.com/MBA_MoreInfo/Everything-about-GMAT.asp?iEpisode=4

4. GMAT Not Required: http://www.mbapodcaster.com/MBA_MoreInfo/GMATnotRequired.asp?iEpisode=37

5. Dealing With a Low GMAT Score: http://www.mbapodcaster.com/MBA_MoreInfo/low-gmat-score.asp?iEpisode=85

6. Conquering the GMAT (Video): http://www.mbapodcaster.com/mba-videos/Conquering-The-GMAT.asp?iEpisode=87

9. What To Do With a Low GMAT Verbal Score (Video): http://www.mbapodcaster.com/gmat-verbal/low-gmat-verbal.asp?iEpisode=98
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Which B-School for you? Regional or Big Name? We Talk to Simon in Rochester

Ah the value of a small school! I’m doing interviews for our show on MBA Podcaster.com to answer the question of whether students should go to regional business schools or the big name schools. Yet, again, I hear that the personal attention students get at the smaller regional schools outweighs the glitz of the brand.

This time it is Greg MacDonald, the Executive Director of Admissions at Simon Graduate School of Business Administration in Rochester, New York. MacDonald says students looking at regional B-schools will find constants such as specialized reputations and tighter personal relationships with faculty.

He says Simon’s reputation is in finance and accounting. What Simon teaches, he says, isn’t trendy, and doesn’t change with the times.

Their placement ratio is about 93% at ninety days after graduation. Like other schools, Simon expects that, in this rough economy, it will drop. However, MacDonald predicts Simon with weather the immediate storm. He says smaller schools like Simon don’t rely on the program hiring of the brand schools – as in, particular companies guaranteeing they will hire a specific number of grads. At the regional schools, the personal relationships with company recruiters bode well in tougher times. MacDonald advises students check to see what the average salaries are ten years past graduation, and the industries alumni gravitate toward. That will give you good information to extrapolate whether the regional – or brand – school is the B-school for you.

Stay tuned for our show on MBA Podcaster. We’ll let you know when it’s available for listening. Please feel free to comment or ask questions here in the interim.

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Regional B-School or Big Name? Talking to Texas A&M

If you’re thinking of applying to B-School right now — and many more are these days, given the brutal economy — are you considering going regional instead of opting for a big name school?
That’s the topic of a show I’m working on for MBA Podcaster.com, and I’ll be interviewing about ten people for the show. One of the first is Wendy Flynn, the Director of MBA Admissions for Mays Business School at Texas A&M.
Wendy sites several advantages of going to regional business schools. One is the high level of personal attention students get at the small B-school. With fewer students than the big-name brands, they can participate more and have closer relationships with faculty members. But Wendy adds that because Mays is at a large school, B-school students have the advantage of attending any of 800 student organizations and tapping into a large network of resources.

She says one-quarter of the students are international, and the school recruits around the world to emphasize its diversity.

As for companies that recruit — hey, they’re in Texas, so of course the oil and gas industry is active, that is, Exxon and Mobil. Also, there are consulting companies who recruit, as well as Dell and Microsoft.

She says Mays had 100% perfect placement in 2007 (!), and last year that had dipped to 98%. However, 2009 — like everywhere — is going to be different.

One of the hidden benefits of going regional? Wendy Flynn says the MBA alumni are fervent supporters of their alma matter and new grads from their school, and that can only help B-school students when they’re networking and looking for jobs.

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Best Business Schools: Whose graduates have the most debt? The least?

We all know US News & World Report just issued their 2010 rankings for business schools but did you know they also measured the average debt load of the graduates from top schools around the country?

This shouldn’t make or a break a decision about where you go for your MBA but it is interesting to see the differences in debt, especially among the top 10 schools. One cause of significant differences in debt load has to do with how many TA’ships they offer or other jobs on campus that help pay for tuition. You should add the question of average debt load and how the school helps alleviate debt by offering teaching positions to MBA students to the list of questions you have for the schools you’re considering attending, if you’re in the lucky position of deciding between schools.

Top 10 With Highest Debt:
1. University of Pennsylvania (Wharton)
Philadelphia, PA
Average indebtedness of 2008 graduating class $98,668

2. Yale University
New Haven, CT
Average indebtedness of 2008 graduating class $91,800

3. Dartmouth College (Tuck)
Hanover, NH
Average indebtedness of 2008 graduating class $90,654

4. Vanderbilt University (Owen)
Nashville, TN
Average indebtedness of 2008 graduating class $85,780

5. University of Chicago (Booth)
Chicago, IL
Average indebtedness of 2008 graduating class $85,614

6. Duke University (Fuqua)
Durham, NC
Average indebtedness of 2008 graduating class $82,353

7. Harvard University
Boston, MA
Average indebtedness of 2008 graduating class $80,525

8. University of Michigan–Ann Arbor (Ross)
Ann Arbor, MI
Average indebtedness of 2008 graduating class $79,593

9. Cornell University (Johnson)
Ithaca, NY
Average indebtedness of 2008 graduating class $78,000

10. Carnegie Mellon University (Tepper)
Pittsburgh, PA
Average indebtedness of 2008 graduating class $75,240

Top 10 with Lowest Debt Load:
10. Eastern Kentucky University
Richmond, KY
Average indebtedness of 2008 graduating class $6,386

9. Seton Hall University (Stillman)
South Orange, NJ
Average indebtedness of 2008 graduating class $6,200

8. Wright State University (Soin)
Dayton, OH
Average indebtedness of 2008 graduating class $6,000

7. Texas Southern University (Jones)
Houston, TX
Average indebtedness of 2008 graduating class $4,000

6. University of Vermont
Burlington, VT
Average indebtedness of 2008 graduating class $3,900

5. Fayetteville State University
Fayetteville, NC
Average indebtedness of 2008 graduating class $3,615

4. New Mexico State University
Las Cruces, NM
Average indebtedness of 2008 graduating class $3,500

3. East Tennessee State University
Johnson City, TN
Average indebtedness of 2008 graduating class $3,000

2. University of Nevada–Reno
Reno, NV
Average indebtedness of 2008 graduating class $2,000

1. Cleveland State University (Nance)
Cleveland, OH
Average indebtedness of 2008 graduating class $0

Find the full list here:
http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-business-schools/debt

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5 of the Top 10 MBA Programs in the World Now Accept the GRE

Is the GMAT not working for you? Has it been too long since grade school math? Fear not, now you have options! The GRE is gaining popularity among top business schools around the world.

Which top schools? China Europe International Business School (CEIBS), Harvard, Instituto De Empresa (IE), Canada’s Queen’s School of Business, MIT Sloan and Stanford. To view a complete list of MBA programs that accept GRE visit www.ets.org/gre/bschools.

More than 190 business schools from across the globe – including many top-ranked MBA programs in Europe, Asia and North America – are part of a growing trend of MBA programs that are seeking to broaden and diversify their candidate pools by accepting GRE test scores.

Last month, Harvard Business School (HBS) announced that it will accept GRE scores for admission into its 2+2 program. “The HBS 2+2 program is designed to encourage college juniors – especially those in majors such as engineering, science and government – to consider business as a career path,” said Deirdre Leopold, Harvard Business School’s Managing Director of Admissions and Financial Aid. “Since the GRE is the test these students are most familiar with on the road to graduate school, we are pleased to offer it as an alternative option to the GMAT®.” And this just in (added 5/18/09) the regular Harvard MBA program now accepts the GRE as well.

In addition, MBA programs cite institutional competitiveness and student access to GRE test centers as practical reasons for accepting GRE test scores. But it is the current global economy and the GRE test’s inherent ability to support programs’ diversity goals that creates the most appeal, according to David Bach, Associate Dean of MBA programs at Instituto de Empresa (IE) Business School.

“As the financial crisis deepens, new approaches are needed to rebuild global financial systems and to uncover opportunities for creating value in business and society,” says Bach. “Business schools must look to diverse participants to engage in this process, and we find the GRE test an excellent tool to help us meet this objective.”

For more info on finding an MBA Program that doesn’t require the GMAT check out our show on this topic.

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Wharton School Announces Launch of Custom Loan Program for International MBA Students

Hopefully this is a sign of easing loan restrictions for Intl MBA Candidates at other schools as well:

The Wharton School of the University of Pennsylvania announced the launch of a custom loan program with Digital Federal Credit Union (DCU) that will provide needed assistance to international MBA students who do not have a U.S. co-signer. The program, which covers tuition and living expenses, is also available to current first-year international students for their second year of study. Highlights of the program include attractive loan terms, no origination fees and attentive customer service.

“The global economic crisis has had a negative impact on many financial institutions who have traditionally offered private student loans, which of course has direct ramifications for our students,” said Anjani Jain, vice dean of Wharton’s Graduate Division. “With students from more than 70 countries, Wharton offers a truly international environment and it was very important for us to find a lender that can meet the needs of these students.”

With a network of 84,000 alumni in 139 countries worldwide, the Wharton School has a long established commitment to global engagement. Today 40 percent of all Wharton MBAs are international students, providing valuable insights to both faculty and classmates. Under Dean Thomas Robertson, Wharton continues to grow internationally with the recent appointment of Professor Harbir Singh as the new Vice Dean for Global Initiatives; 25th anniversary celebrations for both the Lauder Program and Global Consulting Practicum; 17 semester-long international exchange program options at 14 partner schools; and the multi-campus reach of the Wharton-INSEAD Alliance.

DCU developed the custom loan program for Wharton’s international MBA students in conjunction with Credit Union Student Choice, a credit-union-owned organization that offers school-certified private student lending solutions to credit unions across the country.
“As a credit union, we have a unique business model that makes us perfectly suited to meet the private loan needs of international students at the Wharton School of the University of Pennsylvania,” said James Regan, DCU President and CEO. “We are extremely excited about the value we can deliver to Wharton students.”

The custom loan program created by DCU features a unique line-of-credit structure, giving international students the ability to apply once and secure financing for their complete graduate degree. Besides providing tuition financing, other key attributes of the line include low interest rates, flexible repayment options, and zero origination or pre-payment fees.

If you’re interested in Wharton, check out our Day in the Life show all about life on campus:
http://www.mbapodcaster.com/DayInLife/WHARTON_DayInLife.asp

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