Tag: Professional MBA



In the September-October issue of the Harvard Business Review (HBR), Olin researchers identify four principles for designing executive compensation packages that encourage managers to deliver real, sustainable value. The recommendations for refining incentive-based plans stem from ground-breaking research that employed innovative data collection and advanced statistical techniques that revealed flaws and unintended consequences inherent in many pay-for-performance compensation plans.

The research was published in the Journal of Financial Economics earlier this year and received the Olin Award for research with the most potential to impact business in 2015.

Olin authors of the HBR article, “Comp Targets That Work,” include: Radhakrishnan Gopalan, Associate Professor of Finance; John Horn, Senior Lecturer in Economics; and Todd Milbourn,Vice Dean and the Hubert C. & Dorothy R. Moog Professor of Finance.

Harvard Business Review, September-October 2017, Volume 95, Number 5, pp. 102 – 107.

Journal of Financial Economics, 2017, vol. 124, issue 2, 307-330

Check out the Olin research on HBR.




Kelley performs at Shakespeare at Olin.

You might have seen him on stage at Olin’s Shakespeare Festival in April, or in other productions around town, or teaching improv to business students in the Active Learning Lab. When he’s not acting or teaching acting, Mark Kelley can be found in the Graduate Programs Office at Olin, where he is a staff member.

In the latest episode of St. Louis Public Radio’s Cut & Paste podcast, Kelley and his wife, Christina Rios, are profiled as a theater couple. Rios is artistic director of St. Louis theater company R-S Theatrics and Kelley is board president for the nonprofit troupe. The couple have four children—three under the age of six and one teen.

Listen in as the couple “profess more delight than drama in managing marriage and kids,” and share a common bond in their dedication to the art of the theater.

 

 

Top photo credit: Nancy Fowler, St. Louis Public Radio, Mark Kelley, center, coaching actors on stage fighting at a rehearsal of In the Heights, while his wife Christina Rios looks on.

All other photos: Jerry Naunheim, Jr.




Jim McKelvey, entrepreneur and co-founder of Square, will be the keynote speaker at the Second Annual Wealth and Asset Management Research Conference to be held at Olin Aug. 22-23, 2017. Hosted by the Wells Fargo Center for Finance and Accounting Research (WFA CFAR), the meeting brings together researchers and practitioners who share the common goal of better understanding the capital markets to create better outcomes for investors. The conference will feature research from leading academics with audience discussions lead by industry experts in each given field of research.

McKelvey was appointed as an Independent Director of the St. Louis Federal Reserve in January 2017, but is better known for his involvement in several St. Louis-based startups including Cultivation Capital (general partner and co-founder), Six Thirty (co-founder), LaunchCode (founder), Third Degree Glass Factory(co-founder), Mira publishing (founded when he was a WashU student), and Square, the mobile payment company he founded in 2009 with Jack Dorsey.

McKelvey graduated from Washington University in 1987 with degrees in Economics and Computer Science. Earlier this year, he donated $15M to the University to build a new computer science and engineering building named in honor of his father, James McKelvey, Sr. who is a former dean of the School of Engineering and Applied Science.

In addition to research topics, the one-and-a-half-day conference will feature presentations by noted industry experts including attorney Jerry Schlichter, and author William Cohan.

Link to register.
Sessions will be held in Emerson Auditorium, Knight Hall.

Conference Schedule:

Tuesday, August 22, 2017

12:00 – 1:00 pm  Registration – Knight Hall, Frick Forum1:00 – 1:15 pmWelcome & Opening Remarks Richard Ryffel, Senior Lecturer in Finance, Washington University

1:15 – 2:00 pm  Presenter – Bob Dannhauser, Head, Global Private Wealth Management, CFA Institute, “The Art and Science of Wealth Management: Looking to the Future”

2:15 – 3:00 pm  Presenter – Dan Bergstresser, Associate Professor of Finance, Brandeis International Business School, “Changes in the Municipal Bond Landscape since the Global Financial Crisis”

Discussant – Linda Matkowski, Chief Operating Officer, Stern Brothers & Co.

3:00 – 3:45 pm  Presenter – Andy Kalotay, President, Andrew Kalotay Associates, “Tax Optimization of Municipal Bond Portfolios”

Discussant – Steve Wood, Principal, Stephen A. Wood Consulting, LLC

4:00 – 5:00 pm   “Remembering Steve Ross: The Man and His Ideas” – Phil Dybvig, Boatmen’s Bancshares Professor of Banking and Finance, Washington University, Rick Antle, William S. Beinecke Professor of Accounting, Yale University, Michael Griswold, Senior Director, Risk Managment and Asset Allocation, Ascension Investment Management

Wednesday, August 23, 2017

8:00 – 9:00 am
A Discussion of the Importance of Financial Services to the Economy – William Cohan, Author,  “Why Wall Street Matters

9:15 – 10:00 am   Presenter – Jerry Schlichter, Founding and Managing Partner, Schlichter, Bogard, & Denton, “Litigation Pitfalls for 401k Plan Fiduciaries”

10:15 – 11:00 am   Presenter – Matt Ringgenberg, Associate Professor of Finance, David Eccles School of Business,  “On Index Investing”

Discussant – Hans Fredrickson, CIO, Oak Summit Capital

11:00 – 11:45 am   Presenter – Todd Gormley, Associate Professor of Finance, Washington University, “Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism”

Discussant – Charles Stucke, Chief Executive Officer, Lepercq

12:00 – 12:45 pm   Presenter – Emily Gallagher, Postdoctoral Research Associate in Household Finance, Washington University, “Financial Challenges of Low-Income Households”

Discussant – Chris Krehmeyer, President and CEO, Beyond Housing

2:00 – 2:30 pm   FinTech Showcase – Presenter – Cliff Holekamp, Senior Lecturer in Entrepreneurship, Academic Director for Entrepreneurship “How Venture Capital Pays”

2:30 – 3:30 pm   FinTech Showcase Panel – Ben Harrison, Chief Revenue Officer and Co-founder, DealCloud, Inc., Josh Smith, Co-founder and CEO, Solovis, Laurence Stock, COO and Co-founder, Numerated Growth Technologies, Inc., “Automation in Asset Management”

Moderator – Joe Maxwell, Managing Partner, Cultivation FinTech

3:30 – 4:15 pm  FinTech Showcase – Keynote Address – Jim McKelvey, General Partner and Co-founder, Cultivation Capital, Co-founder and Director, Square.

 




The Friends of Olin reception is one of the highlights of the year. It allows Olin to thank the many volunteers who help shape our students’ development. The event took place on May 12, a week before Commencement.

Dean Mark Taylor kicked off the event by thanking our guests for being judges, mentors, speakers, volunteers, advisory board members, and employers.

Over the course of the school year, nearly 2,000 individual volunteers provided insights and guidance to help students develop to their maximum potential.

More than 300 guest speakers shared their expertise in and out of the classroom, and over 125 companies networked with our students at our Meet the Firms events throughout the academic year.

Poets & Quants celebrated two of our BSBA students, Colton Calandrella and  Jessica Landzberg, and two of our MBA students, Markey Culver and Conn Davis, this year.

Todd Milbourn introduced our three featured speakers: Lillie Ross, BSBA’17, Professor Dan Elfenbein, and IBM’s Jerry Lis. Each speaker shared their perspective on the role and impact of Olin’s many friends.

Speakers: Dan Elfenbein and Lillie Ross.

Lillie spoke of mentorship and the meaningful relationship with a Friend of Olin that she developed her sophomore year and will last beyond her graduation.
Professor Elfenbein waxed poetic on the value of having classroom speakers who help illustrate the key learnings from his class.

Jerry Lis shares from the heart how IBM is a Friend of Olin.

Finally, Jerry Lis spoke of how important it has become for IBM to have a strong relationship with Olin and how both his company and the University have benefited from the partnership. It was a beautiful afternoon and a great way to celebrate our corporate partners and their help in creating the Olin experience.

Friends of Olin take home gift

Special thank you cookies for Friends of Olin.

©Photo by Jerry Naunheim Jr.




RESTON, Va., June 20, 2017 (GLOBE NEWSWIRE) — Corporate hiring plans for 2017 point to robust employment opportunities for graduates of MBA and business master’s programs, according to a new employer survey report from the Graduate Management Admission Council (GMAC). Globally, 86 percent of companies plan to hire recent MBA graduates this year, up from 79 percent that hired them in 2016. Demand for these MBA graduates is strongest in the United States and Asia-Pacific, where 9 in 10 companies plan to hire these candidates.

Karen Heise

“It’s indeed good news the market continues to value MBA talent,” said Karen Heise, Director of Olin’s Weston Career Center. “The expectations and requirements for MBA students to achieve their career goals means a lot of hard work, persistence and resilience. Olin’s MBA students invest significantly in their career search and succeed across a wide range of industries (consulting, financial services, technology, CPG, manufacturing and healthcare being the front-runners) and job functions including finance, general management, consulting, and marketing. The entrepreneurial spirit of our students serves them well in capitalizing on opportunities where MBA talent is valued.”


“Despite the political uncertainty about the status of immigration and work visas in the United States and other parts of the world, companies are keen to hire graduates from this year’s MBA and business master’s programs, including international candidates,” said Sangeet Chowfla, GMAC president and CEO. “This signifies the value these programs create for students and the vital role their skill sets bring employers.”

At the time GMAC conducted the Corporate Recruiters Survey in early 2017, respondents in Asia-Pacific, Europe, Latin America and the United States declared their companies are staying the course with plans to hire international graduate business candidates. Overall, 59 percent of the survey respondents plan to hire or are willing to hire MBA and business master’s graduates requiring legal documentation — a gain of seven percentage points from 2016.

Most U.S. companies (55 percent) either plan to hire (28 percent) or are open to hiring (27 percent) an international candidate in 2017 — up from 49 percent that had such plans last year. The technology industry in the U.S. is the most likely to hire international business graduates this year. Half of U.S. tech firms (50 percent) plan to hire such candidates in 2017 — up from 27 percent that planned to hire them last year.

GMAC conducted the 16th annual Corporate Recruiters Survey in February and March 2017 together with survey partners EFMD and MBA Career Services & Employer Alliance (MBA CSEA), in association with 97 participating graduate business schools. Survey findings are based on responses from 959 employers representing more than 628 companies in 51 countries worldwide. Two additional organizations, CEMS and RelishMBA, assisted with recruitment of survey participants.

Additional Key Findings
Hiring Demand Also Bright for Business Master’s Graduates
As the outlook for MBA hiring continues to look bright, so do projected hiring trends for 2017 business master’s graduates, especially those with Master in Management and Master of Accounting degrees.

•    The largest increase in hiring demand compared with 2016 is seen in the share of companies that plan to hire Master in Management graduates; globally, 59 percent plan to hire recent Master in Management graduates, up nine percentage points from last year.
•    Notably, 70 percent of manufacturing companies plan to hire Master in Management graduates in 2017, up from 50 percent of companies that hired them in 2016.
•    Data analytics expertise continues to be in high demand. Sixty-nine percent of employers plan to place recent graduate business school hires into data analytics roles in 2017, just trailing marketing, business development, and finance roles — each with 71 percent.

More Start-Up Companies Plan to Hire B-School Grads This Year
For the first time, this year’s survey report breaks out the responses specifically among start-up companies, revealing a promising 2017 hiring outlook for business school graduates. Three in 4 start-ups plan to hire recent MBA graduates in 2017, up from the 52 percent that hired them in 2016. More start-ups also plan to make 2017 hires from graduates of Master in Management (37 percent), Master of Accounting (23 percent), and Master of Finance (25 percent) programs.

Compensation: MBA Salaries Will Reflect 83 Percent Premium Over Recent Bachelor’s Salaries
Globally, more than half of survey respondents (52 percent) report that MBA base salaries will increase at (34 percent) or above (18 percent) the rate of inflation in 2017. Latin America (74 percent of respondents) and Asia-Pacific (59 percent) have the greatest share of companies that plan to increase MBA salaries either at or above the rate of inflation this year.

A majority of European and U.S. companies (57 percent and 51 percent, respectively) will maintain 2016 salary rates for new MBA hires in 2017. The projected median base starting salary for recent MBA graduates in the U.S. in 2017 is US$110,000, up from a median of US$105,000 in 2016. This represents an 83 percent premium over recent bachelor’s-degree holders in the U.S., who can expect to receive a median starting salary of US$60,000 in 2017.

“Once again, this year’s report brings to light the continued value of the MBA degree to the marketplace,” said Megan Hendricks, executive director of MBA CSEA. “The increased interest in specialty master’s talent provides further indication of the relevance of these programs at our member schools.”

Link to download the full report.

About GMAC: The Graduate Management Admission Council (GMAC) is a global, nonprofit association of 220 leading graduate business schools. Founded in 1953, we are actively committed to advancing the art and science of admissions by convening and representing the industry and offering best-in-class products and services for schools and students. GMAC owns and administers the Graduate Management Admission Test® (GMAT®) exam, used by more than 6,500 graduate programs worldwide, and the NMAT by GMAC™ exam, for entrance into graduate management programs in India.

Source: GMAC news release


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