Monday, October 25, 2010
In today's world MBA is essential for growth in your professional life. CAT 2010: CAT 2010 Scheduled for 20 days; begins Oct 27: CAT Convener XAT 2011: XLRI's XAT 2011 to be held on Jan 2 IIFT 2010: IIFT and SNAP dates exams to be held on Nov 28 & Dec 19, 2010 SNAP 2010: IIFT and SNAP dates exams to be held on Nov 28 & Dec 19, 2010 FMS 2010: FMS Entrance Exam preponed, expected on Dec 5 CAT 2010 notification to be out on August 22: CAT Convener IRMA 2010 on Nov 14; registration ends on Sep 30, 2010 NMAT 2011 can be attempted thrice; application starts on Sep CAT 2010 from Oct 27 & Nov 24; Registration from Aug 30 Road to CAT 2010: FMS, SNAP & IBSAT declare exam dates Important guidelines for CAT 2010 registration JMET 2011 on Dec 12, registration starts Sept 6 XAT 2011 notification out; registration starts today Registrations on for AIMA's MAT December 2010 entrance test
Saturday, December 6, 2008
Latest News
How the credit crunch is affecting women MBA applicants
By Caroline Parry
Published: November 24, 2008
Print Email
With everyday bringing more gloomy headlines about the credit crunchand its effect on the UK and North America, it is no surprise that acloud of uncertainty has formed over certain business sectors, such asfinancial services, writes TopMBA's Caroline Parry.
The tough economic environment has left many questioning what this will mean for MBA and executive MBAs applications, particularly from women. The challenge of increasing the number of female candidates has been tough for business schools in happier economic times let alone as the fear of recession hangs in the air.
This climate tends to lead to two distinct reactions, says Karen Siegfried, FT MBA director at Judge Business School at Cambridge. "People that are losing their jobs, or feel they are about to, see it as an opportunity to go back into education, it offers them a safe haven and the chance to make the transition from one sector to another. Other people think it is the worst time to jump and want to stay safe in their jobs."
So far, business schools are remaining optimistic about the future with a majority saying that admissions - from men and women are increasing year-on-year with many new nationalities also applying.
Female applications
Joan Cowan Coonrod, director of executive MBA admissions for Goizeuta Business School in Atlanta, says anecdotally a recessionary climate tends to impact women most but at this point it has not seen "a measurable decline" in female applications. However, she adds: "Our largest class enrols in January, and this is where we might expect to see the effect of the credit crunch."
Meanwhile Paul Healy, MBA marketing manager at Manchester Business School has already seen a more pronounced effect. "Applications from women have been 5% to 6% down over the past two years but looking at the number of people still to declare if they are going so start this year or that have deferred, 40% of those are women."
He adds that there is a "healthy number" of students overall but with less credit available, many students are waiting to hear if they will receive scholarships, with many unable to proceed without such funding.
Coonrod believes that women are more affected by funding issues than men, particularly if candidates are considering executive MBAs. She explains: "Many women do not believe that they will see the 'payback' for the investment, and thus tend to self-select into lower cost programs or online programs."
Part time MBAs
It is, perhaps, no coincidence that many business schools are reporting a rise in part time applications, which allow candidates to work while studying. While Judge is reporting a 45% increase in female applications to its full-time MBA, Siegfried admits that business schools are facing a variety of issues around female recruitment, including increased competition from new methods of studying for an MBA. She also believes improved working conditions, such as home working, mean women are able to stay in the work force but it does not necessarily help with career development through training.
The main conflict of interest for female candidates is the age-old dilemma between family and career. Nuria Guilera, marketing director for MBAs and Executive Masters at ESADE in Spain, admits that attracting women to the executive MBA is a "difficult task" for this reason.
She adds: "The average age in the EMBA is 33, which is a complicated age for women as they reach to a point in life when they have to decide if they want to create a family, have children or keep growing in their career. In most cases, they cannot achieve it all at the same time."
However, there is also a feeling that women are less likely to ask their employers to support them in doing an MBA or EMBA, and industry observers say that as job security concerns grow, they will be even less likely to push for career development. Valérie-Claude-Gaudillate, director of MBAs at Audencia Nantes School of Management in France, explains that even in less difficult times, women do not believe that MBAs are an option. She adds: "They don't think that their company will pay for them."
There is also a feeling that the credit crunch has come at a time when women are seeking jobs outside of the traditional corporate arena, just as for not-for-profit organizations, healthcare and public sector. "I think we might be going through a cycle," says Siegfried. "Women are feeling they don't necessary want a full time, hard-charging career these days with many choosing to be full or part time mothers now. Also, the jobs that women are aspiring for do not require an MBA, or they don't want the kind of jobs where recruiters want an MBA. She adds "Women in sectors such as not-for-profit organizations don't think that an MBA will help or that it is necessary for their progression."
For this reason, many business schools believe that more needs to be done to communicate the benefits of MBA and EMBA courses to women both now, as the credit crunch bites, and in the future as women pick increasingly diverse sectors to work in. "The bottom line," says Coonrod, "is that women need to see that courses like EMBAs are 'doable' and they often need to know that their companies will be supportive at some level."
She adds that women often put such training on the back burner and she calls for MBA recruiters to be more proactive by letting women employees know that they are under consideration for high level roles. "An executive MBA experience at a top program - where they apply what they learn, as they learn it - yields get rewards for the individual and the supporting organization."
In the past, says Siegfried, women have not been specifically targeted by communications or recruitment drives because research has shown that they do not want to be singled out. But there is now a widespread feeling that it is time to change strategy in case the credit crunch takes its toll on the already struggling female numbers. She explains: "We need to show the range of options available and how doing an MBA can help women get what they want, like working part time."
MBA benefits
Women need to be convinced that doing an MBA or an EMBA will bring benefits to their career. The latter will prepare them for profit and loss responsibility and more operational roles, it helps them migrate out of support roles and into strategy development, and will also put candidates in touch with each other helping to broaden their business outlook. According to Gaudillat, this should be highlighted to candidates through mentoring schemes and work by alumni. Siegfried adds: "This puts the onus back on the business schools, we need good mentors to show that an MBAs don't have to be about a traditional, corporate thing."
The world of MBAs can appear male dominated and they are concerns that fewer female applications mean that recruiters are not always getting a diverse range of candidates for roles. But, crucially, as Gaudillat, points out if there are less women doing MBAs, they are less women getting to board level. She adds: "If they don't go through the training to reach the top role, they don't get there."
With the economic outlook looking unsettled for the foreseeable future, the ability to bring something extra to a role will become increasingly important to recruiters. More women need to realize the importance of training and should be proactive about getting it from the companies, this means more has to be done to show them what they can achieve if they put the time and investment in.
Source: topmba.com
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By Caroline Parry
Published: November 24, 2008
Print Email
With everyday bringing more gloomy headlines about the credit crunchand its effect on the UK and North America, it is no surprise that acloud of uncertainty has formed over certain business sectors, such asfinancial services, writes TopMBA's Caroline Parry.
The tough economic environment has left many questioning what this will mean for MBA and executive MBAs applications, particularly from women. The challenge of increasing the number of female candidates has been tough for business schools in happier economic times let alone as the fear of recession hangs in the air.
This climate tends to lead to two distinct reactions, says Karen Siegfried, FT MBA director at Judge Business School at Cambridge. "People that are losing their jobs, or feel they are about to, see it as an opportunity to go back into education, it offers them a safe haven and the chance to make the transition from one sector to another. Other people think it is the worst time to jump and want to stay safe in their jobs."
So far, business schools are remaining optimistic about the future with a majority saying that admissions - from men and women are increasing year-on-year with many new nationalities also applying.
Female applications
Joan Cowan Coonrod, director of executive MBA admissions for Goizeuta Business School in Atlanta, says anecdotally a recessionary climate tends to impact women most but at this point it has not seen "a measurable decline" in female applications. However, she adds: "Our largest class enrols in January, and this is where we might expect to see the effect of the credit crunch."
Meanwhile Paul Healy, MBA marketing manager at Manchester Business School has already seen a more pronounced effect. "Applications from women have been 5% to 6% down over the past two years but looking at the number of people still to declare if they are going so start this year or that have deferred, 40% of those are women."
He adds that there is a "healthy number" of students overall but with less credit available, many students are waiting to hear if they will receive scholarships, with many unable to proceed without such funding.
Coonrod believes that women are more affected by funding issues than men, particularly if candidates are considering executive MBAs. She explains: "Many women do not believe that they will see the 'payback' for the investment, and thus tend to self-select into lower cost programs or online programs."
Part time MBAs
It is, perhaps, no coincidence that many business schools are reporting a rise in part time applications, which allow candidates to work while studying. While Judge is reporting a 45% increase in female applications to its full-time MBA, Siegfried admits that business schools are facing a variety of issues around female recruitment, including increased competition from new methods of studying for an MBA. She also believes improved working conditions, such as home working, mean women are able to stay in the work force but it does not necessarily help with career development through training.
The main conflict of interest for female candidates is the age-old dilemma between family and career. Nuria Guilera, marketing director for MBAs and Executive Masters at ESADE in Spain, admits that attracting women to the executive MBA is a "difficult task" for this reason.
She adds: "The average age in the EMBA is 33, which is a complicated age for women as they reach to a point in life when they have to decide if they want to create a family, have children or keep growing in their career. In most cases, they cannot achieve it all at the same time."
However, there is also a feeling that women are less likely to ask their employers to support them in doing an MBA or EMBA, and industry observers say that as job security concerns grow, they will be even less likely to push for career development. Valérie-Claude-Gaudillate, director of MBAs at Audencia Nantes School of Management in France, explains that even in less difficult times, women do not believe that MBAs are an option. She adds: "They don't think that their company will pay for them."
There is also a feeling that the credit crunch has come at a time when women are seeking jobs outside of the traditional corporate arena, just as for not-for-profit organizations, healthcare and public sector. "I think we might be going through a cycle," says Siegfried. "Women are feeling they don't necessary want a full time, hard-charging career these days with many choosing to be full or part time mothers now. Also, the jobs that women are aspiring for do not require an MBA, or they don't want the kind of jobs where recruiters want an MBA. She adds "Women in sectors such as not-for-profit organizations don't think that an MBA will help or that it is necessary for their progression."
For this reason, many business schools believe that more needs to be done to communicate the benefits of MBA and EMBA courses to women both now, as the credit crunch bites, and in the future as women pick increasingly diverse sectors to work in. "The bottom line," says Coonrod, "is that women need to see that courses like EMBAs are 'doable' and they often need to know that their companies will be supportive at some level."
She adds that women often put such training on the back burner and she calls for MBA recruiters to be more proactive by letting women employees know that they are under consideration for high level roles. "An executive MBA experience at a top program - where they apply what they learn, as they learn it - yields get rewards for the individual and the supporting organization."
In the past, says Siegfried, women have not been specifically targeted by communications or recruitment drives because research has shown that they do not want to be singled out. But there is now a widespread feeling that it is time to change strategy in case the credit crunch takes its toll on the already struggling female numbers. She explains: "We need to show the range of options available and how doing an MBA can help women get what they want, like working part time."
MBA benefits
Women need to be convinced that doing an MBA or an EMBA will bring benefits to their career. The latter will prepare them for profit and loss responsibility and more operational roles, it helps them migrate out of support roles and into strategy development, and will also put candidates in touch with each other helping to broaden their business outlook. According to Gaudillat, this should be highlighted to candidates through mentoring schemes and work by alumni. Siegfried adds: "This puts the onus back on the business schools, we need good mentors to show that an MBAs don't have to be about a traditional, corporate thing."
The world of MBAs can appear male dominated and they are concerns that fewer female applications mean that recruiters are not always getting a diverse range of candidates for roles. But, crucially, as Gaudillat, points out if there are less women doing MBAs, they are less women getting to board level. She adds: "If they don't go through the training to reach the top role, they don't get there."
With the economic outlook looking unsettled for the foreseeable future, the ability to bring something extra to a role will become increasingly important to recruiters. More women need to realize the importance of training and should be proactive about getting it from the companies, this means more has to be done to show them what they can achieve if they put the time and investment in.
Source: topmba.com
View Comments (0)
Sorry, your account does not have access to post comments.
How the credit crunch is affecting women MBA applicants
By Caroline Parry - November 24, 2008
PaGaLGuY.com B-school Rankings 2009: IIM A on top, Women prefer XLRI and Symbiosis schools the most
By PaGaLGuY.com News Service - November 20, 2008
DI most difficult and Verbal a surprise respite, say coaching institutes on releasing cut-offs
By PaGaLGuY.com CAT cut-offs newshound - November 17, 2008
CAT 2008 is a 90 question paper, easier than previous year, say experts
By PaGaLGuY.com CAT Day Events Dude - November 16, 2008
The Matt Symonds Column: Is recession a good time to get an MBA?
By Matt Symonds - October 31, 2008
More PPOs, less direct placements at B-schools as economy slides
By Harsh Maskara - August 25, 2008
B-school professors dot blogspot dot com
By Harsh Maskara - August 12, 2008
Making sense of International Accreditations for b-schools
By Harsh Maskara - August 5, 2008
Life in the time of MBA fee hikes
By Harsh Maskara - August 5, 2008
[Video] The dark side of B-school campus cultures and traditions
By PaGaLGuY.com News Service - July 21, 2008
First Look inside IIM Shillong!
By PaGaLGuY.com Featurer of New IIMs - July 11, 2008
Which b-schools would you like to include in the PaGaLGuY.com B-school Rankings 2009?
By PaGaLGuY.com Product Launchpad - June 23, 2008
IIMs declare final results!!!
By PaGaLGuY News Service - May 1, 2008
IIMs expected to declare results in First week of May
By PaGaLGuY.com News Service - April 24, 2008
IIM results delayed by at least a week: IIMA
By PaGaLGuY.com News Service - April 10, 2008
Seeing through misleading salary figures in B-school placement reports
By Apurv Pandit - January 25, 2008
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By Apurv - January 21, 2008
Who else is in your GD-PI slot?
By PaGaLGuY People Networker - January 9, 2008
CAT 2007 Results Out!
By PaGaLGuY.com News Service - January 8, 2008
It's official, CAT 2007 results on Jan 8; JMET results out!
By PaGaLGuY.com News Service - January 4, 2008
What is it like to be in a top-20 international b-school?
By PaGaLGuY.com Free Ebook Provider - January 2, 2008
IIM Calcutta, Narsee Monjee win BT Acumen 2007
By PaGaLGuY.com News Service - December 24, 2007
IIFT 2007 results are out!
By PaGaLGuY.com News Service - December 12, 2007
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By PaGaLGuY.com Team - November 19, 2007
Endeavor predicts cutoffs for IIMs, MDI
By PaGaLGuY.com News Service - November 19, 2007
CAT cutoffs! Career Launcher predicts 102-107
By PaGaLGuY.com News Service - November 18, 2007
31-35-42: Career Forum predicts cutoffs
By Sujata Khanna - November 18, 2007
Gejo to the rescue! Ask CAT 2007 questions to IMS
By PaGaLGuY.com Creator of Communication Channels - November 18, 2007
PaGaLGuY Impact! XLRI Singapore refunds fee to applicants of nonstarter course
By Rachana Khanzode - October 31, 2007
SIBM goes to Bangalore. Hyderabad is next
By Apurv Pandit - October 9, 2007
XLRI Singapore unable to start Full Time course, applicants unsure of refund
By Rachana Khanzode - October 4, 2007
Two days after IIM-B, IIM-A reports highest PPOs ever
By PaGaLGuY.com News Service - September 28, 2007
MDI, Gurgaon increases PGPM intake to 240
By Apurv - September 24, 2007
XAT 2008 and XLRI - Jamshedpur forms out
By PaGaLGuY.com News Service - September 2, 2007
SNAP registration begins
By PaGaLGuY.com News Service - August 27, 2007
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By PaGaLGuY.com News Service - August 27, 2007
More interesting job profile biggest driver for doing MBA: PG Poll
By PaGaLGuY.com News Service - August 20, 2007
No quota for NE students at IIM Shillong
By PaGaLGuY.com News Service - July 27, 2007
IIFM to rename degree, introduce three specializations
By Apurv Pandit - July 20, 2007
IIM Calcutta announces minimum cutoff scores
By PaGaLGuY.com News Service - July 16, 2007
SP Jain, Nirma will take CAT scores
By PaGaLGuY.com News Service - July 16, 2007
CAT 2007 on November 18 and IIFT on November 25
By PaGaLGuY.com News Service - July 15, 2007
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By PaGaLGuY.com News Service - July 9, 2007
IIMs declare final results!
By PaGaLGuY.com News Service - April 27, 2007
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By Santanu Banerjee - April 25, 2007
SC refuses to vacate stay on OBC quota
By Abraham Thomas - April 24, 2007
IIMs restless, clamour for clarity from Govt
By Pioneer News Service - April 24, 2007
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By PaGaLGuY.com News Service - January 2, 2007
The anatomy of B-school placements: How companies throw a fit
By Apurv Pandit and Sonam Vij - December 19, 2006
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By Apurv Pandit and Sonam Vij - December 16, 2006
Is the CAT moving closer to GMAT?
By Munira Lokhandwala - November 27, 2006
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By Munira Lokhandwala - November 19, 2006
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By PaGaLGuY.com News Service - November 19, 2006
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By PaGaLGuY.com News Service - November 19, 2006
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By Sonam Vij - September 5, 2006
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By Sonam Vij - July 10, 2006
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By Sonam Vij - June 23, 2006
Why you cannot overlook IMI-Delhi anymore
By PaGaLGuY.com B-school Watcher - March 9, 2006
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By Allwin Agnel and Subrahmanyam - September 19, 2005
"Operations management no more limited to manufacturing" - SIOM Director (Interviews)
Ask last-minute tips for CAT 2008 to IIM Kozhikode students (MBAs Speak)
All about getting into AIM, Manila (Interviews)
All about IRMA and rural management (Interviews)
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Know your PGite: Harshal Modi from SIBM Pune class of 2008 (MBAs Speak)
The pros and cons of an International distance-learning MBA
By Paul Walley
What you should do in the final month to CAT
By Sarang Gupta
"Job market treats Distance Learning MBA and Part-time MBA equally"
By Harsh Maskara
All about MBA at BITS Pilani
By Harsh Maskara
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