US NEWS RANKINGS PROMPTS DEAN TYSON TO STUDY HAAS MBA HIRING CYCLES
By Richard Kurovsky
Executive Director of Marketing and Communications, Haas School of Business
As expected, a major change in the methodology of the new US News and World Report survey of business schools has resulted in a shift of the Haas School's ranking from the 10th best business school in the nation last year to the 14th best this year. The magazine published its new rankings of graduate schools on March 19 (with a cover date of March 29).
Under the new methodology, the magazine emphasized two categories in which the Haas School is at a significant disadvantage to other business schools. These categories -- percentage of MBA students hired at graduation, and the percentage hired within three months of graduation accounted for 21% of the entire survey. Haas had 66.8% of its second year MBAs reporting that they had been hired by graduation last year, or 49th best among 50 schools. In addition, 87.4% of the Class of 1998 reported finding a job within 3 months of graduation, or 50th among 50 schools.
Dean Laura Tyson has launched an internal effort to understand why Haas students appear to differ from their MBA counterparts at other schools, especially in the longer time it takes Haas students to search for a new job. The Dean has asked several staff members to gather and analyze placement data from last year, and to get early hiring information from current second year students to see if a similar trend is developing this year. The group will also examine how other schools reported their placement data to US News.
Dean Tyson also said she would hold a town meeting soon to discuss the issue with MBA students. Haas performed considerably better in other parts of the survey. For example, on academic reputation it ranked 7th among all schools, and it placed 13th in a survey of corporate recruiters who were asked to select the top 25 business schools. In addition, Haas ranked 2nd in the nation in terms of its selectivity in choosing prospective students. Haas students have the 9th highest grade point average and the 12 highest GMAT average test score. Finally, Haas MBA students ranked 17th in a survey measuring total compensation from their new jobs. The ranking is based on the total value of the starting salary and signing bonus. Haas students reported a total compensation package of $90,000.
One possible explanation for the later than normal hiring cycle at Haas is that large numbers of students search for jobs among smaller, high tech firms. Finding jobs among these firms typically takes longer, and many of these firms want students to start immediately, ruling out job searches while students are still in school. The Haas School will also directly lobby US News for methodological changes in next year's rankings to create a more level playing field. For example, the survey does not place any value on stock options as part of the total compensation package; it only counts bonuses. Half of Haas MBA students reported getting stock options as part of their compensation package often in lieu of a bonus last year. Haas and other schools like it may benefit in the rankings if stock options were given some value.
The US News rankings, which were released earlier, can be viewed on-line here.
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STUDENT CAMPAIGNS GEAR UP
Both the 1999 MBA Giving 101% and the undergraduate Feed the Bear committees have begun meeting and planning this year's campaigns. The student campaigns are an integral component of the Haas School's Annual Fund, which raises unrestricted resources for the school. Unrestricted gifts support such crucial areas as student services, curriculum innovation and development, faculty recruitment and retention, as well as extensive alumni outreach. Co-chairs for the Feed the Bear campaign, now in its fourth year, are Susanne Richman, Felicia Woo, and Christian Carr. An anonymous alum has established a challenge to the 1999 undergraduates. For every dollar pledged over the $9,000 the class of 1998 raised, this alum will match dollar for dollar. With the 1999 theme of "99% in Î99," this should be a very exciting campaign.
This year, Lisa Thompson, Whitney Wheeless, Leslie Stephens, Seth Brenzel, and Beth Murphy have taken on leadership roles in the MBA Giving 101% campaign, now in its 11th year. This year's class cohorts will once again compete to see who reaches the highest participation percentage.
Both campaigns officially kick-off April 12th, so watch Haas Week and check your email for more information. Final results will be announced on May 7th at the dean's end-of-the-year party.
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AWARDS, ACHIEVEMENTS & ANNOUNCEMENTS
A display case housing John Harsanyi's Nobel Prize in Economics has just been installed in the lobby of the Long Library. Special thanks to Diane Dimeff, director of the Evening MBA Program, for spearheading the fundraising for the case, which came from a fund established in memory of evening MBA almuna Michele Batcabe.
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In its March 9 edition, the USA Today highlighted a recently published compilation of writings and speeches from prominent business leaders entitled "The Book of Leadership Wisdom." Among the business luminaries whose works are contained in the book is Haas MBA Alumnus and Wells Fargo & Co. (NYSE:WFC) Chairman Paul Hazen, who "elegantly" argues that ethics are a "necessity" in business." On another note, Dow Jones Newswires reported on Mar. 8 that Hazen has been handsomely rewarded for the successful $34 billion Wells Fargo-Norwest merger. According to the report, Hazen took home $14.7 million in salary and bonuses in stock and cash, a five-fold increase compared to the $2.9 million received in 1997. Hazen, who was chief executive with Wells Fargo prior to the merger, is a member of the Advisory Board of the Haas School of Business. For more, see here and here. (paid subscription required)
In the wake of the government's antitrust settlement with Intel Corp. (NASD:INTC), Haas Professor and Intel Consultant Carl Shapiro was quoted in the Mar. 9 edition of the New York Times. "Simply playing hardball is not an antitrust violation," said Prof. Shapiro, "You have to show an actual effect on competition or a likely effect on competition in the future." For more click here .
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HAAS ENQUIRER: KARLA RODEBUSH
Alumni Relations web and publications coordinator, Karla Rodebush, is an eclectic individual. Born and raised in Kansas City, Missouri, Karla didn't see the ocean until she moved out west in her 1965 Ford Mustang after graduating from the University of Missouri with degrees in Psychology and Philosophy. Although the Heartland will always be with her, she feels most "at home" in the Bay Area. After ten years as a litigation and corporate paralegal, Karla started her own talent agency. For four years, she booked and managed jazz musicians while she pursued her own singing talents in a folk rock band, 'inAjam'.
For the past 14 months, Karla has been the creative force behind the Haas Alumni Network (HAN), Blue News, and a sundry of other invitations and the like that go out regularly to Haas alumni. Karla also manages both alumni websites, including the On-line Community, a package of Internet-based services that includes job postings, message boards, a mentoring database, and the alumni On-Line Directory.
The mother of two boys, Nick (12) and Graeme (10), Karla also leads a busy life outside of work. "My kids are music and sports nuts just like their mother," she laughs. Karla coaches her youngest Graeme's Little League baseball team in addition to playing tennis and volleyball. To relax, she likes to write poetry and make handmade gifts for friends.
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