Which companies demand the longest workweek from their MBAs?
From advancing the careers of Asian women in business to the average workweek for MBA graduates, catch all the trending stories for future business leaders.
Goodbye 40-hour workweek
Earning an MBA is not for the faint of heart. Business school can be downright grueling at times. Sure, the ROI might be incredibly lucrative, but that big payoff doesn’t come without putting in lots of hours. The demands you face during and after business school make the old Dolly Parton classic “9 to 5” seem all the more dated. According to an organization that tracks MBA compensation, the average workweek for business school graduates in their first year of employment is 54 hours. That’s on average. If you work at Goldman Sachs, which has long been a popular destination for MBAs, the average workweek is an astounding 85 hours! The average workweek at Microsoft, however, is only 44 hours. This article breaks down the numbers for many other major companies, so take a look. (Poets & Quants)
Brexit fallout for MBAs
This week is the United Kingdom’s date with a destiny—one of many it has faced in modern history. This time it involves the country determining whether or not it will leave the European Union, a decisions which would have wide-ranging impacts on everything from the economy, to immigration, and even to MBA education. Many of the country’s business schools are in a panic about what leaving the EU will mean for them—namely their ability to secure qualified candidates from other parts of the continent. The 125,000 non-UK MBA students living in the country generate billions of dollars worth of revenue and create as many as 19,000 jobs. “The initial uncertainty will throw a cloud over UK business school applications. And there’ll be a temporary switch away from UK business schools and towards European business schools,” says Andrew Scott, professor of economics at London Business School. (Business Because)
Minority representation
At more than 100 business schools across the United States, just one in ten enrolled students are from underrepresented groups. At others, minorities represent a much larger percentage of students. Some of these demographics are partially due to location: For instance, the University of Miami and Florida International University’s respective business schools are both located in heavily Hispanic south Florida. Other MBA programs attract large number of minority students due to effective recruiting strategies. If diversity is important to you, check out these business schools. (U.S. News & World Report)
Asian women in business
While efforts to promote women to positions of power in the United States and Europe have been underway for decades, similar efforts in Asia have just begun. The continent lags behind in terms of advancing the careers of women in business. Just under 15 percent of executives and board members at Asia-Pacific finance companies are female. In comparison, about 20 percent of executives and 23 percent of board members at North American finance companies are women. “In [Asia] there’s a sense that if you do something specifically for women you have to do something to help men as well. But if you look at the disparities for board directors and senior management, clearly there’s a specific issue we need to focus on,” says Sean Ferguson, associate dean of master’s programs at Hong Kong University of Science and Technology. (The Financial Times)
HBS first
Speaking of promoting women in business and celebrating their accomplishments, Harvard Business School just named its very first building after a woman—who also happens to be Asian-American. The late Ruth Mulan Chu Chao was the matriarch of a family of six daughters, four of whom graduated Harvard Business School just like their mother. Chao and her husband created the Foremost Foundation “to help young people access higher education…while also supporting health care initiatives and U.S.-Asia cultural exchanges.” Speaking at the dedication ceremony was Chao’s daughter and HBS graduate Elaine Chao, who served as President George W. Bush’s Secretary of Labor. “She believed that men and women should be treated equally, and she and my father made sure her six daughters were equipped with the tools they needed to realize their dreams,” Chao said. (NBC News)
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