M.B.A. Programs Start to Follow Silicon Valley Into the Data Age
By STEVE LOHRDEC. 25, 2014
Greg Pass, the former chief technology officer of Twitter, put the matter succinctly. The M.B.A., he observed, is “a challenged brand.”
That’s because the degree suggests a person steeped in finance and corporate strategy rather than in the digital-age arts of speed and constant experimentation — and in skills like A/B testing, rapid prototyping and data-driven decision making, the bread and butter of Silicon Valley.
Those skills are not just for high-tech start-ups. They are required now in every industry. And leading business schools are struggling to keep pace.
Mr. Pass is on the faculty at Cornell Tech in New York, where an innovative new program brings M.B.A. candidates and graduate students in computer science together. Meanwhile, across the country, colleges are adding new courses in statistics, data science and A/B testing, which often involves testing different web page designs to see which attracts more traffic.
Business plan competitions have become common. Students’ ideas usually have a digital component — websites, smartphone apps or sensor data — and prizes are up to $100,000 or more. Innovation and entrepreneurship centers have proliferated. Dual-degree programs, with a science or engineering degree added to an M.B.A., are increasing.
The program at Cornell Tech brings M.B.A. candidates and graduate students in computer science together. Credit Richard Perry/The New York Times
Graduate business schools have picked up the digital ethos of experimentation and new ventures. At the Stanford Graduate School of Business, 150 elective courses are offered; 28 percent of those did not exist last year.
“We’re responding to the best practices we see in the outside world like A/B testing and working with massive data sets,” said Garth Saloner, dean of the Stanford business school. “We’re adapting.”
So are the students. Once, students who had professional experience with computer programming were rare at business schools. Today, David B. Yoffie, a professor at Harvard Business School, estimates that a third or more of the 900 students there have experience as programmers, and far more of them have undergraduate degrees in the so-called STEM disciplines — science, technology, engineering or mathematics. “There’s been an extraordinary change in the talent pool,” Mr. Yoffie said.
Yet lately, many talented young people who might have gone to business school in the past are looking elsewhere. Applications to business graduate schools fell by 1 percent in 2013, the most recent statistics, reports the Council of Graduate Schools. By contrast, applications for computer science and mathematics graduate programs increased by 11 percent.
“Business schools are a legacy industry that is trying to adapt to a digital world,” said Douglas M. Stayman, associate dean at Cornell Tech.
Mr. Stayman describes the school’s M.B.A. program in New York as a start-up of its own, unencumbered by tradition. “Our starting assumption here is that a new kind of education is needed for managing in a digital economy, where speed and integration have to occur at a different level than in the industrial economy,” he said.
Cornell Tech, a partnership with Technion-Israel Institute of Technology, began with a relative handful of computer science students in 2013. The long-range goal of the new “applied sciences” school is to have 2,000 graduate students by 2043. But this is the first year for the M.B.A. program, in which 39 business graduate students share a third of their curriculum with 34 graduate students in computer science.
Their joint work includes projects for New York businesses including banks, hedge funds, larger technology companies and start-ups. They work in small teams, and typically design and write software programs for the companies. The emphasis is on making things rather than planning.
On Tuesday afternoons, the students gather for “studio” sessions, where they sit in circles of chairs, give progress reports, discuss problems and get critiqued by faculty and outsiders. Until 2017, when it begins moving to its campus being built on Roosevelt Island, Cornell Tech resides in one of Google’s buildings in downtown Manhattan.
The aim of Cornell Tech is to train what its faculty calls “entrepreneurial, technology product managers,” which are needed across industry as digital technology spreads.
The students selected are not typical of M.B.A. classes. About 75 percent have STEM undergraduate degrees, Mr. Stayman said, while the comparable share is about one third at Cornell University’s Johnson Graduate School of Management in Ithaca, N.Y.
Amanda Emmanuel, 28, is fairly representative of the business students at Cornell Tech. At Carleton University in Canada, she majored in computing and design, and she had summer internships as a software engineer for General Dynamics. But she also started her own fashion business, which used her software algorithms to create figure-flattering clothing designs.
Ms. Emmanuel came to Cornell Tech to burnish her business skills in a technology-rich environment. The Cornell program, which costs $93,000, lasts one year instead of the traditional two-year M.B.A. curriculum — another plus for Ms. Emmanuel.
“Saying you’re going to be out for two years can be a big drawback,” she said. “Some of the companies for the target jobs we’re looking for didn’t exist two years ago.”
Mr. Pass holds the title of chief entrepreneurial officer at Cornell Tech, and he leads studio sessions, critiques projects and acts as a coach. At Twitter, Mr. Pass was part of a huge commercial success and, afterward, he says he felt “realistic guilt,” holding a winning ticket in the lottery of start-up capitalism.
A graduate of Cornell, where he majored in computer science, Mr. Pass, 39, said he wanted to “give something back to the community.” Something he figured he could provide was perspective, including his belief in the need for a “balanced culture,” especially in tech companies and start-ups.
Engineers may be the most valued asset in business today, but the engineering mentality has its weaknesses, Mr. Pass noted. Engineers, he said, tend to be problem solvers, one step at a time, solving the problem in front of them.
“But the major business issue, especially for entrepreneurs, is often that problems are not known, need to be discovered or defined in a new way,” Mr. Pass said. “You need a more integrated, broader view of things.”
The M.B.A. program, he said, is trying to nurture people with those wider horizons, technical know-how and quick business reflexes — “a new pivot on graduate education,” as he put it.
A version of this article appears in print on December 26, 2014, on page B1 of the New York edition with the headline: M.B.A. Programs Start to Follow Silicon Valley Into the Data Age. Order Reprints| Today's Paper|Subscribe
Showing posts with label MBA. Show all posts
Showing posts with label MBA. Show all posts
Friday, December 26, 2014
Monday, September 1, 2014
MBA or CFA? It depends on where you want your career to go
MBA or CFA? It depends on where you want your career to go
Industry experts say those who see themselves in strategic roles should go for an MBA, while those who prefer research roles should opt for a CFA.
SINGAPORE: For many business professionals looking for career development or a job switch, gunning for higher qualifications is a common move, and recruitment firms like Robert Walters say the Master of Business Administration (MBA) and the Chartered Financial Analyst (CFA) are two of the most popular options.
Business school INSEAD has 200 students starting their MBA programme this year, and they are among hundreds across the country embarking on the same academic path. These students are typically around the age of 27, and have around three to five years of work experience.
"We see a lot of people from the corporate sector wanting a change, and getting into consulting and finance," said Ms Stephanie Villemagne, Director of INSEAD's MBA programme. "We have about 35 per cent of our students going into consulting, close to 50 per cent going into corporates - anything from high tech, telecom, the retail industry, etc.
The MBA AND CFA vary significantly in terms of the amount of time and money that have to be invested. A full-time, one-year MBA in Singapore can cost between S$55,000 and S$103,000, while the CFA programme - which is structured in three levels - costs around S$3,000. The CFA is undertaken on a part-time basis, and can take two to five years to complete.
The two programmes also offer slightly differentiated job prospects. Said Ms Orelia Chan, manager of financial services at Robert Walters Singapore: "People in strategic roles may go into an MBA for the networking events. The CFA is for people who want to go into research roles, they may want to equip themselves with this sort of qualification to increase their chances."
There are some 3,400 CFA charterholders in Singapore - forming the second largest group of CFA charterholders in the Asia Pacific, after Hong Kong. CFA Singapore says three in four CFA charter holders here are between 31 and 45 years old.
Mr Simon Ng, Society Leader of CFA Singapore, said the roles and responsibilities of CFA charter holders have broadened over the years. "Since the inception of the CFA programme, we have seen roles being expanded from portfolio management and analysis to chief executives, risk managers, consultants, and sales and relationship management," he noted.
Robert Walters says getting an MBA or a CFA can give one a pay bump of 15 to 20 per cent. But while these qualifications are seen as an advantage, they are not prerequisites, as most employers still value intangibles such as work experience and communication skills. This is why industry experts say it is important to have an idea of the kind of return on investment (ROI) you can get when considering whether to take time off to study.
"It is very important to note that the ROI is also based on different things. It's time, it's money, and it's what career path you plan to have afterwards," said Ms Villemagne. "The money invested is very important, and should be planned ahead of time. You don't want to overload yourself with loans when the time comes."
- CNA/xy
- wong chee tat :)
Industry experts say those who see themselves in strategic roles should go for an MBA, while those who prefer research roles should opt for a CFA.
SINGAPORE: For many business professionals looking for career development or a job switch, gunning for higher qualifications is a common move, and recruitment firms like Robert Walters say the Master of Business Administration (MBA) and the Chartered Financial Analyst (CFA) are two of the most popular options.
Business school INSEAD has 200 students starting their MBA programme this year, and they are among hundreds across the country embarking on the same academic path. These students are typically around the age of 27, and have around three to five years of work experience.
"We see a lot of people from the corporate sector wanting a change, and getting into consulting and finance," said Ms Stephanie Villemagne, Director of INSEAD's MBA programme. "We have about 35 per cent of our students going into consulting, close to 50 per cent going into corporates - anything from high tech, telecom, the retail industry, etc.
The MBA AND CFA vary significantly in terms of the amount of time and money that have to be invested. A full-time, one-year MBA in Singapore can cost between S$55,000 and S$103,000, while the CFA programme - which is structured in three levels - costs around S$3,000. The CFA is undertaken on a part-time basis, and can take two to five years to complete.
The two programmes also offer slightly differentiated job prospects. Said Ms Orelia Chan, manager of financial services at Robert Walters Singapore: "People in strategic roles may go into an MBA for the networking events. The CFA is for people who want to go into research roles, they may want to equip themselves with this sort of qualification to increase their chances."
There are some 3,400 CFA charterholders in Singapore - forming the second largest group of CFA charterholders in the Asia Pacific, after Hong Kong. CFA Singapore says three in four CFA charter holders here are between 31 and 45 years old.
Mr Simon Ng, Society Leader of CFA Singapore, said the roles and responsibilities of CFA charter holders have broadened over the years. "Since the inception of the CFA programme, we have seen roles being expanded from portfolio management and analysis to chief executives, risk managers, consultants, and sales and relationship management," he noted.
Robert Walters says getting an MBA or a CFA can give one a pay bump of 15 to 20 per cent. But while these qualifications are seen as an advantage, they are not prerequisites, as most employers still value intangibles such as work experience and communication skills. This is why industry experts say it is important to have an idea of the kind of return on investment (ROI) you can get when considering whether to take time off to study.
"It is very important to note that the ROI is also based on different things. It's time, it's money, and it's what career path you plan to have afterwards," said Ms Villemagne. "The money invested is very important, and should be planned ahead of time. You don't want to overload yourself with loans when the time comes."
- CNA/xy
- wong chee tat :)
Wednesday, January 27, 2010
Nanyang Business School's MBA programme ranked 27th globally
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 Nanyang Technological University |
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SINGAPORE : Singapore's Nanyang Business School's flagship full-time Master of Business Administration (MBA) programme has again been ranked among the top 30 globally in the latest report by London-based Financial Times.
Although it dropped three notches from last year's ranking, the 27th placing this year still makes it the only Singapore MBA course in the top 100 full-time global MBA programmes.
In the Asia-Pacific, the MBA programme was ranked among the top 4.
The programme scored well on several fronts, including salary increases, career progression, international mobility and ideas generation through research.
The Financial Times survey showed that the Nanyang MBA students who graduated three years ago currently enjoy on average a salary of US$110,567, up from US$104,294 reported last year by the previous batch.
The most significant improvement was in career progress rank, which has jumped to 15th position from 71st position last year. The school said this demonstrates the programme's value to improve one's career over the long term.
Professor Gillian Yeo, interim dean, Nanyang Business School, said: "Our strategy has always been to emphasise both academic rigour and relevance to businesses and industry, to enable our graduates to successfully and responsibly lead organisations globally.
"As we continue to attract some of the most talented students from around the world and hire more world-class faculty, we intend to work towards creating knowledge with an Asian focus. We will be doing research on the new Asian economic giants China and India, and developing case studies."
The Nanyang Business School has over 4,000 students.
The Financial Times' ranking is based on two sets of surveys - one completed by alumni who graduated three years ago and the other by the top business schools.
- CNA/ms
- wong chee tat :)
Saturday, January 23, 2010
Nanyang Business School's MBA ranked 27th in world by Financial Times
Nanyang Business School's MBA ranked 27th in world by Financial Times
Posted: 23 January 2010 0032 hrs
Posted: 23 January 2010 0032 hrs
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Nanyang Technological University |
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SINGAPORE: Singapore's Nanyang Business School's flagship full-time MBA programme has again been ranked among the top 30 globally in the latest report by London-based Financial Times.
Although it dropped three notches from last year's ranking, the 27th placing this year still makes it the only Singaporean MBA in the top 100 full-time global MBA programmes.
In the Asia-Pacific, the MBA is ranked among the top four.
The programme scored well on several fronts, including salary increases, career progression, international mobility and ideas generation through research.
The Financial Times survey showed that the Nanyang MBAs who graduated three years ago, currently enjoy on average a salary of US$110,567, up from US$104,294 reported last year by the previous batch.
The most significant improvement was in career progress rank, which has jumped to 15th position from 71st position last year. The school said it demonstrates the programme's value to improve one's career over the long term.
Professor Gillian Yeo, Interim Dean at Nanyang Business School, said: "Our strategy has always been to emphasise both academic rigour and relevance to businesses and industry, to enable our graduates to successfully and responsibly lead organisations globally.
"As we continue to attract some of the most talented students from around the world and hire more world class faculty, we intend to work towards creating knowledge with an Asian focus. We will be doing research on the new Asian economic giants China and India, and developing case studies."
The Financial Times ranking is based on two sets of surveys - one completed by alumni who graduated three years ago and the other by the top business schools.
- CNA/vm
- wong chee tat :)
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