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Foreign Business Schools Hope to Capitalize on Uncertainty in U.S.

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Could the Trump administration threaten enrollment at U.S. business schools?

Salaries for consultants are on the rise, Russian women look west for an MBA education, and British and Canadian MBA programs think political tensions in the United States may be a boon for recruiting. Here’s what’s trending on the management education landscape.

Top consulting firms see rising salaries

As the old saying goes, there are only two certainties in life: death and taxes—though high salaries for management consultants is perhaps not far off. Newly released data from California-based Management Consulted show that revenue at top consulting firms rose between 7% and 13% in 2016, which likely lead to a rise in salaries of between 4% and 5%. These same major consulting firms—long the destination of MBAs—have also been increasing their hiring, as the bad old days of the Great Recession recede into memory.

“Salaries have been more than just creeping upward. The 4% to 5% rise is the biggest year-over-year increase we’ve seen since 2011,” says Namaan Mian, Management Consulted’s operations manager. “As the economy has picked up growth, these Fortune 100, 500, 1,000 companies that take advantage of the services that consulting firms offer, they’ve had more cash flow, more capital to invest in consultants. And that means that these consulting firms have to hire more people and are starting more projects.”
(Poets and Quants)

What Russian businesswomen want

Despite Russia’s checkered scorecard on human rights, one thing that it does have going for it is gender equality in the boardroom. According to Grant Thornton, an international professional services company, nearly half of senior management positions are held by women, just about double the global average of 24%. When it comes to getting their MBA, however, many of Russia’s most successful women want to attend business school in the United States or other parts of Europe.

“If you want to stay and to work in Europe, it’s a huge advantage to have a European MBA. A Russian MBA degree doesn’t give you the same advantage,” said one recent business school graduate who earned her degree in Italy. Said another MBA, “We don’t have a critical mass of really good professors in Russia. A good professor of business education is not only a great academic. It’s usually someone who’s been in business as well.” She points out that capitalism in Russia is only about 25 years old—following the collapse of the Soviet Union. (BusinessBecause)

Be honest with admissions committees

Business school admissions officers are savvy—and know good applicant when they see one. Vetting thousands of applicants over the years has trained them to sniff out applicants who are merely telling them what they want to hear, those who exaggerate their experiences, and those who are genuine and honest about their shortcomings.

“It’s been a problem because the stakes are so high,” said Rosamaria Martinelli, who has over a decade’s worth of experience working in admissions for top-ranked business schools like Chicago Booth and Wharton. Said one admissions consultant, “We all have blemishes in our past. The way to explain these mistakes is to be upfront and candid.”
(U.S. News & World Report)

Business schools see opportunity in Trump administration

Still reeling from last year’s surprise vote to leave the European Union, British business schools are looking at ways to recruit non-British students onto the rolls, keeping in mind that many may not want to study there because the country feels less than welcoming now. They think they have an answer, albeit one controversial to many: Recruit U.S. and non-U.S. students who are not comfortable studying in an America under a Trump administration.

Professor Nelson Phillips, acting dean of Imperial College Business School, suggests that President Trump’s campaign rhetoric will make some Muslim prospective MBA students feel not at home in the United States, creating opportunities for U.K. business schools with campuses in Saudi Arabia and the Gulf States. Some Canadian business schools harbor these same ambitions, but at least one top American MBA program seems unconcerned. “Other schools of management around the world are always trying to put their best foot forward and you know, God bless them,” said David Schmittlein, dean of MIT Sloan School of Management. (The Financial Times)

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