Business School Briefing: Change management cliché, MBA jobs surge

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Welcome to the Business School Briefing. We bring you insights from Andrew Hill and the Business Education team, plus a selection of the top stories read in business schools. Edited by Wai Kwen Chan and Andrew Jack.

Bulletin board

Do ESG-Driven Business Strategies Increase Financial Performance? Join the Financial Times free webinar to find out more on Wednesday, June 23, with Gillian Tett of Moral Money’s FT and Rob Armstrong of Unhedge.

Work and career

An FT survey shows that many university graduates feel that they have not found a job that matches their career aspirations. Some have even returned to full-time education. The FT business school ranking, for example, shows that applications for MBA or Masters in Finance have increased.

Women at the start

How can you tell if companies are delivering results when it comes to tackling inequality in the workplace? Take a look at our special report “Women at the Start” and read career tips from graduates of the 2008 financial crisis.

Andrew Hill’s Management Challenge

The overused cliché of change management, the “burning platform”, must finally be erased. As I argue in my column this week, illustrating the leap or sinking is inadequate, inadequate and, in order to motivate employees, potentially counterproductive.

But what should it replace? For my Management challenge, please come up with a better story to create a sense of urgency among employees faced with strategic change. Send your concise metaphors to bschool@ft.com.

Last week, I asked what Jeff Bezos should do to make employee turnover at Amazon more manageable. Scott Nicoll on Twitter (@Scott_GKDSIFA) replied, “Pay them a decent wage above the minimum wage and keep them going[, then] offer the opportunity to participate in a stock savings program with a term of 5 years. If they leave, they’ll only get back cash minus administration fees. Loyalty rewarded ”. Among other things, the author and business school professor Rita Gunther McGrath suggested: “Stop bringing ‘super-intelligent’ young things as managers / supervisors while you deny hourly or subordinate employees a career path”.

Regular readers will know that I am a weakness for explaining the recent checkered history of Eastman Kodak, having written about its rise and fall. in the Continue reading, Kaitlyn Tiffany of The Atlantic, who grew up near Rochester, Kodak’s hometown, offers the prospect of a millennial. Kodak, she writes, provided “both a perfect invention that changed the world and a beautiful story of the life that the country’s middle class could not only dream of but expect. All of that ended before I was even born. “

Business news from Jonathan Moules

Job openings for MBA graduates have rebounded this year, with hiring and salary levels returning to pre-pandemic levels. Data from the Graduate Management Admission Council’s annual employer survey, reported to the Financial Times, shows the average salary for MBAs this year has returned to the all-time high of 2019 before the Covid-19 pandemic, down from $ 105,000 in of the 2020 survey. According to the study, demand was fueled by interest in business graduates among tech companies, with 96 percent telling GMAC that they would like to hire MBAs this year, a three-year high for the survey.

Higher education suffers from the perception that it is disconnected from the world of work. The University of Illinois’ Gies College of Business is trying to overcome this by making experiential learning compulsory for all junior year students. Starting this fall, the school will enroll around 800 students to work on more than 130 customer projects for Fortune 100 companies, medium-sized companies and start-ups.

Data line

Masters in Finance alumni who were surveyed in our current rankings were asked to rate certain areas of specialization in their business school on a 10-point scale. They reported that schools are strongest in corporate finance, investment, and statistics / quantitative methods, writes Leo Cremonezi.

The schools do less well in the areas of raw materials, fintech and compliance / law. Find out more about trends among Masters in Finance graduates.

Bar chart of the percentage of MiF graduates who gave specific ratings on various subjects taught by their schools shows Masters in Finance alumni say schools excel in corporate finance

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Top business school reads

The Tyranny of Spreadsheets How one of our most powerful tools became one of the most abused

U.S. Senators examine a chart during a hearing on Enron’s 2001 collapse. The utility company’s public email records provided insight into common Excel errors © Alex Wong / Getty Images

Matt Hancock resigns as UK Health Secretary Former Chancellor Sajid Javid has been appointed Secretary of State for Health and Welfare

Matt Hancock said in his resignation letter that he does not want his private life to be “distracted” from the fight against the pandemic © REUTERS

Financial regulator bans UK FCA’s Binance crypto exchange, also issues consumer warning against sprawling cryptocurrency group

Bar chart of monthly crypto volumes in US dollar equivalent ($ billion) showing that trading activity on Binance has increased this year

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