Stanford GSB is offering free tuition to admitted MBA students—but there’s one small caveat.
Cornell welcomes its newest MBA class, Stanford is gives aspiring MBAs free tuition with a catch, and entrepreneurs face high expectations when applying to HBS Startup Studio. Here is everything that’s trending in the world of business school.
HBS helps startups grow
As we reported to you earlier this year, Harvard Business School recently opened up a startup lab in New York City, which is quickly becoming the Silicon Valley of the East. In fact, the burgeoning tech sector in this major urban area has even been dubbed Silicon Alley.
“We have over 8,000 alumni here, and so we thought it would be a great place to put down a stake, especially with all the entrepreneurial activity happening here in New York City,” said Avani Patel, director of HBS Startup Studio. But getting accepted into the program, like Harvard’s flagship school in Cambridge, is no easy task. To qualify, you have to have already secured at least $500,000 in funding and at least one of your startup team members must be an HBS alumni.
“You have to be proactive about problems, you have to say ‘This is where the company needs to go; this is what I’m going to do to get it done. I’m starting at 8 a.m. tomorrow,’” said one HBS Startup Studio student. (Voice of America)
Cornell Johnson’s newest MBA class
Ithaca-based Cornell University Johnson Graduate School of Management is on a tear, shaking up its curriculum, consolidating three schools into the School of Management, and creating a new campus in New York City. Despite all these changes, which could have possibly scared off risk-averse aspiring MBAs, applications jumped an impressive 12 percent this past cycle, from 1,704 to 1,960.
Overall, the new class includes 284 students, up 10 from last year. Johnson’s acceptance rate dropped from 32% to 27%, and the average GMAT score for the entering class climbed three points this year over last, 700 compared to 697 last year. This is a trend we are seeing all over the country: top business schools reporting higher GMAT scores for their new classes.
“We’re very pleased with our Class of 2018 and the diverse perspectives they bring, representing 31 countries across the globe,” says Judy Byers, the school’s executive director of admissions and financial aid. (Poets & Quants)
Free tuition… with a catch
Stanford University’s Graduate School of Business is one of the country’s few top-ranked MBA programs on the West Coast. The school is especially popular among aspiring MBAs who want to work for major tech companies and startups, given its close proximity to Silicon Valley. While it’s an attractive program for many other reasons too, one new way the school is trying to attract students is with the promise of free tuition… as long as you promise to work in the Midwest, two time zones away.
The school’s idea is to churn out MBAs and then send them to underserved parts of the United States that can benefit from an influx of new talent. “When we look at our country, and we think about different places where there’s still a lot of room for growth and development, the Midwest was a big part of that,” Simone Hill, an assistant director for MBA admissions at Stanford said. (Business Insider)
Most wanted MBA jobs
According to a study of business school graduates conducted by the employer branding experts at Universum, Google is the company where the hottest MBA jobs are. “The level and scale of impact that these companies can make for their customers can be attractive,” says Emily Taylor, director of MBA career education at UCLA Anderson School of Management.
Other companies where MBAs most want to work include consulting giants McKinsey & Company, The Boston Consulting Group, and Bain & Company. These aforementioned three have long been a desirable workplace for those in business school, as they carry a certain amount of prestige, not to mention high starting salaries. (BusinessBecause)
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