Where Top CEOs Went to Business School

Harvard Business School Again Leads The CEO Race

How influential is a college degree in landing the top job in a major corporation?

It’s a hard question to answer because more often than not it’s the person–not the school–that is responsible for professional success. The best schools, of course, often draw the more ambitious and driven people who are more likely to climb to the top.

So it’s no surprise that Harvard Business School again leads the pack when it comes to Fortune 100 chief executives. Just look at their graduate roster over the years: Michael Bloomberg, Jamie Dimon, Sheryl Sandberg, Salman Khan, Henry Paulson, Mitt Romney, and Jeffrey Immelt. And let’s not forget George W. Bush, Jeffrey Skilling, and Rajat Gupta, too. Talk about a Who’s Who from the business and political headlines!

In 2014, eight CEOs from the Fortune 100 elite earned their MBAs at Harvard Business School. Aside from GE’s Immelt and J.P. Morgan Chase’s Dimon, Harvard MBAs-Turned-CEOs include Boeing’s W. James McNerney Jr., MetLife’s Steve Kandarian, Freddie Mac’s Donald Layton, and the Hess Corporation’s John Hess.

Wharton finished second to Harvard with four CEOs on the list, including Johnson & Johnson’s Alex Gorsky, Sysco’s William DeLaney, General Dynamics’ Phebe Novakovic, and MassMutual’s Roger Crandall. The University of Chicago (Booth), Northwestern University (Kellogg), and the University of Minnesota (Carlson) each boast two CEOs on the list.

Some 18 other MBA programs, several of them at unranked business schools, count one Fortune 100 CEO among their alumni. That goes to show that you don’t have to go to a big brand school to make it big, although let’s not kid ourselves, it probably helps to have your ticket punched by the likes of a top 10 or top 20 school.

Overall, 36 CEOs in the Fortune 100 earned MBAs. Harvard also headed the list of undergrad programs with alumni heading Fortune 100 companies. According to Fortune, engineering, business administration, and accounting degrees were the most popular undergraduate majors for CEOs. Among Fortune 100 CEOs with advanced degrees, MBAs were the most popular degree, beating out J.D.s by a margin of 57 percent to 20 percent.

To see the business schools with Fortune 100 CEO alumni, check out the table below.

School	Fortune 100 CEO MBA recipients	U.S. News Business School Rank
Harvard Business School	8	1
University of Pennsylvania (Wharton)	4	1
Northwestern (Kellogg)	2	6
University of Chicago (Booth)	2	4
University of Minnesota (Carlson)	2	33
Brigham Young (Marriott)	1	27
Columbia University	1	8
Cornell University (Johnson)	1	17
Duke University (Fuqua)	1	14
Indiana University (Kelley)	1	21
New York University (Stern)	1	10
Our Lady of the Lake (TX)	1	N/A
Southern Methodist University (Cox)	1	55
Stanford University	1	1
University of Dayton	1	Unranked*
University of Hartford (Barney)	1	Unranked
University of San Diego)	1	Unranked
University of Tulsa (Collins)	1	96
University of Virginia (Darden)	1	11
University of Houston (Bauer)	1	92
University of Utah (Ecceles)	1	63
Washington University (Olin)	1	22
Xavier University (Williams)	1	Unranked

Source: U.S. News and World Report

10 Things I Wish I’d Known Before My MBA

It’s been three years since I graduated from Harvard Business School, and I’ve spent a lot of time thinking about what I wish someone would have told me BEFORE B-school and definitely while I was going through my job search.

So here are my top 10….

1. They were right – at least half of the classmates I know (if not more) are at a different job 18 months out than they had when they left school. Which makes me really question what the career services team gets graded on in terms of performance…

2. Nobody mentions how much more confusing and scary (and cash constrained) life gets AFTER the MBA. Yes taking out loans to go on trips during school is an integral part of making deeper relationships…but damn…I still haven’t paid off enough to get back to the original loan amount I took out to begin with!

3. Generally (and please don’t take offense if this doesn’t apply to you), if you dig past the surface “things are going great!” conversation BS, people who didn’t go into finance, consulting, PE seem truly happier – but no less stressed out. But people STILL chase those jobs coming out of school like their life, status, and future happiness depend on it (for the transferable skills of course. Right…)

4. It’s scary and frustrating as a career switcher to feel like I’m starting from scratch again while I watch my non-MBA friends who now have 7 years of experience kick ass at their jobs

5. Getting an MBA didn’t prepare me to DO actual skill work in my industry at all really. It taught me how to see a big problem and make snap decisions on what should be done. But actually DOING work?  I’m learning as I go and it’s a steep steep learning curve.

6. It’s going to take more time than I thought to do really BIG things (you know the stuff they allude to on your first day about how you’re going to change the world while forgetting to mention that it won’t happen quickly because you’ll likely be funneled back into an industry/job role that thrives on the status quo)

7. The expectations are SO much higher – at work, from friends, from myself, my family, would-be employers. Everyone expects you to be able to just DO amazing things, and KNOW things simply because you went to B-school.

8. Once you’re in the job…nobody really cares you have an MBA. If anything, some people who don’t have one hate you for it on the low.

9. Most people don’t want to admit to themselves that even if they knew what they really wanted to do…they probably still wouldn’t leave their well-paid, high status job to go do it.

But most importantly….

10. While my MBA prepared me to be able to speak eloquently even when I don’t have the answers – it most certainly did NOT help me figure out what I want to do in life, how to find my passion and purpose or give me any clarity on HOW I’m going to change the world. I tell a lot of MBA hopefuls that your time at school opens a thousand doors and exposes you to things you’ve never heard of before, but that can be paralyzing because what they DON’T do is help you figure out which one to go through. So you end up rationalizing why you followed the crowd (transferable skills, paying off loans faster and THEN you’ll figure out what you want to do, need another brand name on the resume to prove myself, etc.)

So, I figured I’d start a blog. And use it as an excuse to talk to MBAs and ask them about how they’re handling their lives and careers after 2 years of wedded bliss to the idea that they were handpicked out of the masses to do bigger and better things with the education and network from their MBA program.

Hopefully, I can have candid conversations with folks and share what they’ve learned, what they wish they knew going in (and coming out) and how they’re navigating the world with a few more letters after their name and all the expectations and pressures that came with it.

Maybe if I can get past the façade we learn to put up and hear some real stories, I can start learning how others handling work/life balance (ha!) while climbing the ladder, or choosing a path less traveled and the good, the bad, and the ugly that comes with that.

We learn in B-school (or at least at HBS) that social capital is scarce and no one wants to be associated with the person who doesn’t have it all together. But maybe if more folks knew it isn’t all rosy after you graduate and that many people are struggling with the same questions, insecurities, frustrations, and life decisions, we could learn from each other’s experiences and create more realistic expectations for the droves of people turning to B-school as the next step in life.

Or not. We’ll see.

But if you’ve got a story – want to chat – have something to say about what you wish you would have known, hit me up! Would love to hear from you!

10 Movies Every Business Student Must Watch

You can only learn so much from case studies. Sure, the lessons may be grounded in the real world, with real people suffering real consequences. In the end, do these examples really stick with you? Do you mimic lines from a study to your friends? And do you occasionally return to a key person or decision in a study and think, “I can really see myself doing that.” 

Sometimes, the best way to translate reality is through fiction. And no genre resonates more with people than cinema. Take the topic of business. Our work consumes over a third of our lives. For many, work is a community where they fulfill their life’s mission. In that world, you’ll find the great truths: The corrosive effect of power, money, and hubris; the fruits of hope, sweat and perseverance; the trade-offs and unforeseen results inherent to making decisions; and the ever-present opportunity for reconciliation and redemption.

Hollywood may embellish reality, but the behind-the-scenes business dealings in movies often reflect the real world all too closely. From Jordan Belfort to Howard Hughes, movie storytelling takes us inside deeply flawed, three-dimensional characters, whose key moments of achievement, betrayal, and epiphany remind us of our own potential and frailty. Whether we admire or loathe these characters, we remember them – and the cautionary lessons many represent.

Looking for some practical lessons that may get lost in a case study? Here are ten must-see movies that will amp up your business acumen with an up close and personal look at the temptations and ambiguities you’re bound to eventually face:
 

1) Wall Street

This has to be right at the top if you talk about must-watch movies for business students. The movie digs into everything a business hides behind the scenes. As a thrilling journey into Gordon Gekko’s life, it shows exactly how people barter their morals to become filthy rich and make it big on Wall Street, with principles like, “Money is everything,” and “Greed is good.” Take those lessons with a grain of salt!

2) The Insider

Al Pacino and Russell Crowe share the screen in this movie, which is reason enough to watch it, but it’s also a must-watch to know what ethics and integrity in business really mean. It’s a story of a man who is faced with an ugly choice of doing the right thing and risking his life, or keeping his mouth shut.

3) Tucker : A Man and His Dream

Searching for some inspiration to trigger your spirits before a leap into the world of entrepreneurship? This movie can be your unforgettable inspiration. Make yourself feel good while this movie works as an inspiration to your psyche by telling you exactly what it is like to follow your dreams…a bed of roses…but roses with spurs, where you have to make sacrifices.

4) Citizen Kane

Build a business tycoon image for yourself and see what you pay for it! Negotiating with your ethics is a choice many businesspeople will eventually face. This brilliant movie tells you what it’s like to build an empire and what dangers you are going to face in the process. Don’t let this classic miss your watchful mind!

The lesson is a bitter truth: Success can often come at a price, and at the top, life can be relatively empty.

5) It’s a Wonderful Life

This timeless black-and-white classic of Frank Capra is an illustrative lesson of the moral, financial and the practical! The most important lesson a business student needs to learn is that money can’t buy happiness and that real happiness lies not in your business or job, but in family ties, love and friends. It truly is a wonderful life!

6) Office Space

What do you do when you have soul-sucking 9-to-5 job? You probably never managed to make it as hilarious and scary as Peter Gibbons. This movie showcases office politics at its best. If not in the past or the present, you are definitely going to relate to this movie at least once in your life.

7) Smartest Guys in the Room

ENRON goes down in history as one of the world’s biggest business frauds, and you, as a business student, definitely want to know what actually happened and what mess was created. Get real life business lessons and learn the difference between doing things right and doing the right things!

8) The Godfather

You can’t afford to miss on this one! A must watch for all business students. The Godfather is a 70mm bible about why relationships and building networks are important, why helping people is good for business and why knowing about competition is non-negotiable.

9) Barbarians at the Gate

Knowing the reality of hostile takeovers and leveraged buyouts is an important lesson for passionate business student. So, here comes a real story and a real lesson! As a classic must-watch for business students, this movie will take you through the saga of a battle for power, a hostile takeover and a leveraged buyout.

10) Norma Rae

Why do unions operate as they do? Find an answer in this wonderful depiction of the determination of a single mother who fights to improve the working conditions of her textile mill.

My Three Biggest Mistakes In Prepping For The GMAT Exam

The last time I took the GMAT, I got a 710. As I study to take it again, aiming for a score of 760, I reflect on three mistakes I made last time while studying for the GMAT.

When I first studied for the GMAT, I managed to log 150 hours in 10 weeks. One of the biggest lessons I learned was that it is not just about how many hours you study, but how you study in those hours.

As I follow my plan to beat my 710, I am making sure to watch where I failed before, so that I can blow past the low 700′s. As you study, learn from my mistakes, so you can achieve your dream score.

Mistake 1: I did not use an error log

An error log is ABSOLUTELY critical in studying. Typically, GMAT test takers make one of three types of errors: 1) Careless errors, where you know the content and logic, but made a silly mistake 2) Content errors, where you did not know the needed information to solve the problem, or 3) Logic errors, where you knew the content, but not the GMAT logical way to solve it.

My error log consists of using 3×5″ index cards. For every careless error I make, I keep track of it on one card. For example, if I make 2 careless errors out of 20 questions on 7/16, I will write “7/16 – 2/20″ and keep track of all my progress on one index card. Towards the end of your GMAT prep, you should not be making any careless errors.

For “real errors,” I write whether it was a content or logic error, what type of question it was, what is the content matter of the question, and how the solution should have been found. It is REALLY important to understand not only WHY you got the question wrong, but HOW to get the question right next time. I will then review my 3×5″ index cards every few days, drilling myself on content & logic.

Mistake 2: I spent too much time on concepts and not enough time on questions

Content is important. Most of the tests you have taken in your life have probably been content based. Let me make this clear: I ROCK content tests. The problem? The GMAT is not just a content test!!! It tests your logic skills and your ability to look at problems from multiple angles. These problem solving skills are just like any of your other skills, they only improve with practice.

It is so critical to spend LOTS and LOTS of time with questions. Not just “getting through them,” but actually looking at each question and trying to understand WHY you got it wrong OR right, did you use the most efficient path, AND were there any aspects that you missed? Quality over quantity will get you your dream score… I promise!

Mistake 3: I didn’t spend enough time with my practice tests

Sure, I reviewed my tests. I analyzed what I did wrong, what types of questions I was missing, and what content areas I needed to brush up on. But did I look at the questions I got right? Did I solve them in the most efficient way possible? Did I miss medium, hard, or very hard questions? Did I get lucky on certain questions? Did I guess effectively?

I really believe that you should spend just as much time reviewing your practice tests, as you spend completing the tests. You already did half of the work; complete the other half so you can reap the rewards!

A Dean’s Career Advice To Young Women

Northwestern University Kellogg School of Management Dean Sally Blount, one of the few female deans of a top-ranked business school, has some advice for young women—and it’s not what many would like to hear.

In a brief yet poignant talk at the Aspen Ideas Festival earlier this month, Dean Blount urged young female graduates to go into the most challenging and demanding jobs in business straight out of college, jobs that are more likely to be pursued by their male peers.

“I would argue that the first job is not the time to focus on comfort, balance or even mission,” she declared. “That can and should come later. The first job is the time in their lives for these women to gain credentials, take risks, travel, and land as big and bold an opportunity as they can find.”

FEMALE GRADS ARE UP TO 50% LESS LIKELY TO ENTER THE MOST COMPETITIVE BUSINESS TRACKS

Noting that women make up more than half the entering freshmen at college, but only a small fraction of CEOs, board directors and government leaders, she said Kellogg has identified three “critical pivot points where we are losing women on the way to the C-suite: the launch, the child-rearing years, and the transition to senior management positions.”

“Today,” she said, “I want to focus on the launch, that critical first job after college because there have been a lot of troubling statistics out of Northwestern and Harvard that show that in their first year out of college, women from these top schools are up to 50% less likely than their male peers to enter the most competitive business tracks, like investment banking and mgt. consulting.”

Blount, who became dean of Kellogg four years ago after serving a six-year stint at dean of New York University’s undergraduate business program, then recounted her decision to join the Boston Consulting Group in 1983 after graduating from Princeton University with a bachelor’s degree in engineering systems and economic policy.

‘I DO STILL KNOW HOW TO WRITE A KILLER POWERPOINT DECK’

“When i look back on my own career, I now realize how important my own first real job was at BCG,” she said. “It set me on the trajectory that has actually landed me as the first and so far only female dean of a top ranked business school. At BCG, I was imprinted in the ways of business, I developed critical problem solving skills and I do still know how to write a killer Powerpoint deck,” quipped Blount.

“If you want our best and brightest young women to become great leaders we have to convince more of them that their first job has to be in business and they have to go for those big business jobs no matter what career they want to pursue. Business is the dominant social institution of our age and if you don’t understand business you won’t be an effective leader in any sector.

“The reason I care so much about getting more women in entry level jobs in business is because that’s how you build confidence and that’s how you build understanding about how the world works. The best and brightest of this generation is opting out before they even start. That’s why we have to be pushing even in this room from the very beginning, your daughters and your granddaughters, push them to take big jobs.”

Besides the advice she offered young women, however, the most compelling part of her talk had to do with her daughter Haley White. She told the Aspen audience that after her daughter was accepted at Princeton University, she decided to take a gap year.

‘THIS IS WHAT THE PERSON I WANT TO BECOME WOULD DO’

“She proceeded to research and craft a very impressive 12-month itinerary that was going to take her to three projects in three different countries,” recalled Dean Blount. “As she was presenting this final plan to me, I suddenly realized that my 18-year-old daughter was proposing to make her way around the world on her own—literally. And I flinched. I told her, ‘You know I’m not quite so sure I can back up this plan.’ And to my amazement, my strong-willed daughter didn’t lash out at that moment to defend it. She stopped and she turned to me and said, ‘But Mom, this is what the person I want to become would do.’

Do & Don'ts