Best Places to Work in 2018
LinkedIn is all about connection, a network that binds together every industry and organization. 546 million members strong, Linkedin has fostered a community that shares everything from job leads to market intelligence. At the same time, it has emerged as a data warehouse – one that can shed light on which employers are the most popular destinations for establishing long-term careers.
In March, Linkedin attempted to measure just that, releasing its inaugural Top 50 Companies for 2018, dubbing it “Where the U.S. Wants to Work Now.” The methodology, is based on factors like job demand, user engagement, and retention. Sure enough, many of biggest brands ranked atop Linkedin’s list…along with a few surprises.
Amazon Comes Out at #1
Amazon topped LinkedIn’s top 50 companies to work for. With the company’s second headquarters soon to be announced, LinkedIn excelled thanks to the “endless expansion” the Seattle-based company has on the horizon.
With a global headcount of 566,000, Amazon has the largest workforce among the top 25 companies ranked by LinkedIn. The company has made its presence known in a number of industries, including electronics, consumer staples, department stores, book stores, groceries, and more. Most recently, CNBC reported that the Seattle-tycoon is setting its eyes on the pharmaceutical industry.
Amazon’s recent $13.7 billion purchase of Whole Foods and its move to cashier-less stores with Amazon Go are just beginning of the expansion and innovation that has characterized the firm.
According to Glassdoor data, 74% of Amazon employees would recommend the company to a friend. A whopping 87% of reviewers approve of the company’s CEO, Jeff Bezos.
“Everyone here is really smart, and wants to succeed both personally, and as a company. People collaborate and help each other, focus on data, and truly focus on the customer,” one employee review reads.
Alphabet Inc. (Google) is “The Behemoth”
Coming in at number two on the rankings is Alphabet Inc., the parent holding company of Google. In many ways, Google set the new standards for company benefits and culture with its endless, quality perks.
Google is ranked at number two, according to LinkedIn, because of its massive reach in market search and digital advertising. In addition, Google has delved into a number of groundbreaking pursuits including Google Brain, the A.I. research lab that the New York Times reports as one of the company’s highest priorities.
As a company, Google receives over 1.1 million applications annually. And it’s no surprise as to why. The company has made headlines with its campus filled with climbing walls, slides, nap pods, and of course, free food.
With 80,110 global employees, Google has been able to keep an outstanding majority of them happy with their jobs. According to Glassdoor data, 90% of Google employees would recommend the company to their friend. 95% approve of Google’s CEO, Sundar Pichai.
“Still the best company to work with,” one employee review reads.
At Facebook, It’s About Building Communities
Facebook has been getting the brunt of bad headlines recently. From its alleged mishandling of Russian ads to its possible misuse of user data, the social network company is going through its fair share of hurdles.
Yet, valued at over $500 billion and with a 47% growth in annual business, Facebook isn’t slowing down anytime soon. If anything, the company has hit a stage of growth, realizing its potential outside of just being a social network site.
“One of the most important things we can do is make sure our services aren’t just fun to use, but also good for people’s well-being and for society overall,” Facebook’s CEO Mark Zuckerberg said in a statement.
The company has introduced a number of changes to prioritize meaningful social interactions including strengthening active conversations amongst news feeds.
LinkedIn has great reason to list the company in the top three. Mark Zuckerberg, Facebook’s CEO, was named the highest rated CEO in 2017 by Glassdoor, with a 98% approval rating.
With a global headcount of 25,100 employees, Facebook is relatively smaller in size compared to Google. Facebook’s Glassdoor employee reviews highlight the company’s “small start-up feel,” where employees say they can see the impact of their work.
Here’s what one employee had to say about the culture at Facebook.
“The openness is a real thing, we’re trusted to do the right thing, mistakes are expected, being yourself is important and encouraged, humility is encouraged and expected, building trust is paramount, the mission of making the world a more open and connected place isn’t just a cool phrase because it guides everything. It’s not about us, it’s about everyone else.”
One female software engineer at Facebook adds that the company is the best company she’s ever worked for.
“Every day I wake up excited and grateful to be working here. Even in such a large company, I feel like I get the support I need and while also having impact. Everyone is so smart, nice, and always willing to help.”
Sources: LinkedIn, CNBC, New York Times, New York Times, CNBC, Facebook, Glassdoor, Glassdoor, Glassdoor
How To Discount the Cost of an MBA
The total cost for an MBA at a top business school can easily cost you over $200,000.
Arlene Weintraub, a contributor at US News, recently shared some ways business students can cut the cost of MBA tuition.
Merit Aid at Your Chosen School
Merit scholarships are one of the best ways to save money without having to pay back expensive loans. According to data from FT’s 2017 ranking, roughly 48% of two-year MBAs received a scholarship. Generally, merit aids are given in regard to an applicant’s profile, whether it’s personal attributes or academic distinction.
In an article for P&Q, Caroline Diarte Edwards, director at Fortuna Admissions, says applicants should start by targeting schools where they think they’d be a good fit.
“It begins with your MBA application—be aware it poses an opportunity to qualify for a merit scholarship, not just admission to the program,” Edwards writes. “All applicants may be automatically considered for merit-based scholarships, and most schools regularly dole out selective fellowships.”
For instance, Edwards says, at INSEAD, “spot scholarships” are awarded to the best candidates upon admission. The bigger the school name, the more award money they have.
“The most selective schools (especially HBS and Stanford GSB) have very deep pockets,” Edwards says. “While there’s often no separate paperwork to be eligible for merit scholarships, you’ll want to submit your MBA application in earlier rounds before scholarships are allocated.”
You Don’t Have to Quit Your Job
Traditionally, those pursuing an MBA would take two-years off from their career to focus directly on their studies. However, the two-year full-time MBA is not what it once was.
A number of b-schools have evolved their full-time MBA programs to offer flexible choices in pursuing a business degree.
At the Peter J. Tobin College of Business at St. John’s University, students now have the option to enroll in an evening MBA program – a 36-credit program that only takes three semesters to complete. In addition, a number of business schools also offer online programs, so students can attend to their careers and personal lives.
According to US News, a large number of b-schools also offer the option of an accelerated one-year MBA. Schools, such as the University of Notre Dame, Emory University and Northwestern University’s Kellogg School of Management, all offer accelerated degrees.
Norean Sharpe is the dean of the Peter J. Tobin College of Business at St. John’s University. According to Sharpe, the flexibility in MBA options is, for the most part, due to changing demands from students.
“With today’s millennial generation, their No. 1 concern is cost, and their second concern is time,” Sharpe tells US News. “We’re motivated to do anything we can to help those students accomplish their goals.”
Some employers also offer tuition assistance. According to GMAC, over 50% of students in part-time MBA programs in 2017 expected to receive financial assistance from their employers. For online MBA students, it was 38%.
Federal Loans
If students still cannot afford an MBA from merit- scholarships or work opportunities, the last option is to apply for federal loans. However, US News contributor Arlene Weintraub advises students to look at federal loans as a “last resort” option.
“Unlike undergraduate loans, federal loans for graduate students are never subsidized, meaning your interest will start accruing as soon as you take out the loan, rather than being deferred until you finish the program,” Weintraub writes.
With these options, hopefully your cost of tuition won’t deter you from pursuing an MBA. While an expensive degree, the MBA serves as an important investment towards your future.
Sources: US News, Poets & Quants
The Implications of an MBA Concentration or Specialization
What is the most difficult decision for MBA students? For many, it is choosing an MBA concentration or specialization – a decision that heavily employment options.
In her new article, Ilana Kowarski, a reporter at US News, discusses why concentrations are important and how prospective business students should choose their concentrations.
Concentration vs. No Concentration
Before discussing how prospective business students should choose their concentrations, it’s first important to distinguish what a concentration can offer students.
For MBA applicants who have a clear goal in mind, it may be more helpful to choose an MBA program that offers formal concentrations or specializations.
“For instance, MBA applicants who want to develop technical expertise in finance may prefer a school with a finance or accounting major or they might look for a school that offers numerous financially oriented elective courses,” Kowarski writes.
On the other hand, if an MBA applicant is unsure of what they want to pursue, it may be best to choose an MBA program that doesn’t require a formal concentration.
Kenton Kivestu is the CEO and founder of RocketBlocks, a company that helps aspiring management consultants prepare for consulting firm job interviews. Kivestum who holds an MBA from Dartmouth College’s Tuck School of Business, earned a general management degree – with no formal concentration. In an interview with US News, Kivestu says the broad focus on Dartmouth’s MBA program allowed him to explore a wide variety of courses and fields.
“One of the reasons I was coming into that program and interested in an MBA in general was I wanted to build expertise across the different functions that I knew I would need experience in as a CEO,” he tells US News.
An MBA Concentration Can Build Skillsets… and Salaries
Choosing a concentration isn’t for everyone, however. Anumber of experts say that concentrating or specializing in a certain field may be useful in building skills that are in-demand.
“MBA applicants should consider how rapidly change is occurring across all industries, and identify an area like innovation and tech that is equally applicable to different sectors and will give them a toolkit of skills that is adaptable and future-facing,” Crystal Grant, director of admissions at the Imperial College Business School at Imperial College London, tells US News.
It’s also important to note how certain skillsets may be affected by automation.
“You need to do something that is not going to be replaced by machines or robots in the next one or two decades, because that’d be a problem in the future,” Keng Siau, professor and chair of the business and information technology department at Missouri University of Science & Technology, tells US News.
It’s also important to carefully consider your MBA concentration, because in many ways, it very well likely determines how much money you may make.
Among MBAs, those who concentrated or specialized in strategy make the most compared to their peers. According to PayScale data provided exclusively to Poets&Quants, strategy MBAs earned a $94,800 median in early career – an estimated $13,900 better than any field of study. By mid-career, strategists made $150,000 median annually.
While the MBA concentration is an important decision, students shouldn’t feel pressured to choose one, especially when there are flexible programs available.
“The MBA program in general is designed to be exploratory and so, if you’re not sure, look for a school that has a wide variety of concentrations,” Eric Newton, an MBA student at Carnegie Mellon University’s Tepper School of Business, tells US News.
Sources: US News, Poets & Quants
How To Position Yourself for Success on the GMAT
GMAT scores are on the rise for the top business schools in the US.
According to data published by Poets & Quants, 38 schools out of the top 50 are on an upswing in the five-year trend of average GMAT scores, at an average of 9.9 points. Only seven schools in the top 50 have seen a drop-off over the last five years, while two have remained flat and data for two others is incomplete. The average GMAT score at the top ten schools is now 727, according to US News.
In a new article, Matt Symonds, a contributor at Forbes, discusses what the GMAT means to b-school applicants and how learning to “fall in love” with the standardized test can make the experience just a little bit easier.
Fall in “Love” with the GMAT
For one, Symonds says, the GMAT is a special type of standardized test.
“The GMAT is uniquely positioned when it comes to business schools,” Symonds writes. “It’s the only standardized assessment created by business schools for business school admissions. It’s been around for 50 years, so there are five decades of validity studies behind it. It’s true that no standardized test will do a perfect job in predicting who will be successful in an MBA program.”
Why is the GMAT so Important?
“They want to prove ahead of time that a candidate will actually get through their entire program, and so the GMAT helps them make that decision with some level of confidence,”
Camille Coppock, marketing director for the Americas region at the Graduate Management Admission Council, tells US News in an interview.
If anything, Symonds says, the GMAT allows for an equal playing field—especially amongst the increased competition and diversity of the MBA applicant pool at top b-schools.
“Your score is important, particularly because the student composition at tier-one programs has become truly globally diverse,” Symonds writes. “How do you compare the entrepreneur in Eretria to the Bain consultant from Silicon Valley? The GMAT helps level the playing field by offering a consistent data point for evaluating candidates against each other.”
How Long You Should Spend Studying
The easy answer to this question is, the more you study, the better prepared you’ll be.
According to Symonds, applicants who scored above 700 report studying at least 80-100 hours for the GMAT. But that doesn’t necessarily mean studying 80+ hours will guarantee a score above 700. The important lesson, Symonds says, is that when it comes down to doing well on the GMAT, it requires time to develop skills.
“It’s not like the SAT, where some folks just walk in and nail a great score,” Symonds writes. “And that’s because the GMAT looks at skills developed over time. Data sufficiency, for example, isn’t a skill set that comes intuitively, it’s a skill set that you build with practice.”
In addition, Coppock says the amount of time spent studying depends on an applicant’s comfort level with logic exams as well as what their target score is.
It’s a tough answer to the question, but the reality is, success on the GMAT takes a great deal of practice and time spent studying.
“Too often, people get caught up in search of a ‘fast, easy, secret recipe’ for earning a 700+ GMAT score,” Woodbury-Stewart, Target Test Prep Founder and CEO Scott, tells Forbes. “They become hyper-preoccupied with the efficiency of their preparation process at the expense of real learning and deep mastery of material. The questions have logical, methodical solutions; there are no secret “tricks” to getting correct answers. The biggest mistake people make is underestimating how long it will take them to effectively prepare.”
A high GMAT score can do wonders to an application. And while it is important, it’s critical to remember that your score is only one component of your entire application.
Sources: Forbes, US News, Poets & Quants, US News.
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