Graduate Management News

April 2015

The Newsletter of the Graduate Management Admission Council

Global Program News

  • Arjang Assad becomes dean of Katz Graduate School of Business. The University of Pittsburgh announced that Arjang Assad, currently the dean of the School of Management at the State University of New York at Buffalo, will become the dean of the Joseph M. Katz Graduate School of Business and College of Business Administration. Assad officially begins the job on July 1, and will succeed John Delaney, who is stepping down to assume a faculty position. Assad plans to take advantage of the presence of a hospital on campus by connecting students in the health care field with the MBA program and making it easier for individuals with health care backgrounds to get an MBA.

  • Six top African business schools forge new association. The African Academic Association on Entrepreneurship, or AAAE will develop cooperation through research, case studies, exchanges and academic materials and publications, professional internships and technical cooperation. The consortium will be driven by the School of Business of the American University in Cairo – where its founding meeting was held last month – until a structured steering committee system is up and running. The other participants are the University of Cape Town Graduate School of Business and the University of Stellenbosch Business School in South Africa, Esca Maroc Ecole De Management of Casablanca in Morocco, Lagos Business School in Nigeria and Strathmore Business School in Kenya. Sarah-Anne Arnold, manager of the MTN Solution Space at University of Cape Town Graduate Business School and the university’s representative on the AAAE founding committee, said the association would welcome other business school members in future.

  • Boston University renames business school after US$50 million donation. Boston University’s School of Management was named the Questrom School of Business in honor of Allen and Kelli Questrom after the couple donated $50 million, the largest single gift in the university’s history. The money will endow 10 faculty chairs and help fund a new graduate program facility. Allen Questrom graduated from the business school in 1964 and is a university trustee. Questrom, during his career, led several department stores including JCPenney, Neiman Marcus, Barneys New York, and Federated Department Stores, which later became Macy’s. Kelli Questrom is a former fashion editor and marketing director and volunteer who also serves on the board of several art museums and educational organizations.

  • SMU establishes new faculty directorship. A US$2 million gift from Linda and Ken Morris will go toward a faculty directorship in Southern Methodist University’s Cox School of Business. Their gift will create the Linda A. and Kenneth R. Morris Endowed Director of the Caruth Institute for Entrepreneurship in the Cox School in honor of Jerry F. White, who has been its director since 1988. The institute promotes entrepreneurship through credit and noncredit courses and community outreach programs. Ken Morris is vice president of student systems software at Workday Inc. He was the co-founder of PeopleSoft Inc., where he served as its chief technology officer and in other roles for 11 years until his retirement in 1998. He graduated from Woodrow Wilson High School in 1968 and earned a bachelor’s degree from SMU in 1972, followed by an MBA from Harvard University in 1977. Linda Morris spent most of her career in recruiting and human resources, including serving as manager of human resources for PeopleSoft. The couple founded the Morris Foundation, which helps social service organizations.

  • Value of the MBA remains impressive. Data from the Financial Times 2015 Global MBA rankings show that the pay increase of younger graduates in the three years after graduation from their MBA programs outperforms that of their older counterparts in both percentage terms and absolute terms. The rankings are based on a survey of the MBA class of 2011 and analyses their career progress and salaries. The Financial Times reported that participants aged 24 or under when they started their degree saw their salary increase by nearly $69,000 in the three years after graduation, up 145% on their pre-MBA salary. Their older counterparts, those aged 31 or above, had a pay increase of $56,000, or a 70% increase. Overall, 95% of graduates reported they had achieved their goals, be it to earn more money or become a better manager.