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A well-known brand does not guarantee the usefulness of the MBA program specifically for you. The teacher and the topics he deals with are often more important than the place of the school in the rankings. Find out how to get the most out of your MBA education
There are several thousand accredited business schools around the world and many more organizations that teach business without going through long and complicated certifications. Schools have a brand, history, infrastructure, alumni communities, company connections, and many other perks. However, the main criterion of quality is teachers.
From the outside, it may seem strange that in business schools at all someone teaches: “If you really know how to make a lot of money, then why don’t you do it yourself?” Who would give away a treasure map instead of finding it yourself? The answer is obvious: the one who has this card, but he is not ready to go through it himself. After all, not everyone who knew how to mine gold was ready to go to the snows of Alaska in the 16th century to wash the gold dust at the risk of their lives. The vast majority of business school teachers understand too well the risks and inconveniences of an entrepreneur, and therefore consciously do not want to take them on themselves. It is one thing to help leaders, and quite another to work XNUMX hours a day, often making difficult decisions.
The material was prepared for the special project “Guide to MBA”
Who becomes business school professors?
Business school professors approach this role in different ways. Most start as researchers in graduate school, and then, gradually studying real companies, begin to find patterns, confirm them with scientific methods, and talk about them in publications. Each such article in a peer-reviewed scientific journal is the result of many months, and sometimes many years, of collecting and analyzing information, as well as of carefully studying the work of colleagues on related topics. The most cited researchers become leaders in their fields in the academic field. The earned reputation allows experts to apply for places in more prestigious and highly paid schools.
For example, Sumitra Dutta is a professor of business at SC Johnson College at Cornell University, served as dean, previously worked at INSEAD and nine other schools, and received his education at the University of Berkeley with a degree in Computer Science. Anita Woolley is an associate professor at the Tepper School of Business at Carnegie Mellon University, and received all three degrees (bachelor’s, master’s, PhD) from Harvard. Vibhanshu Abhishek is Associate Professor at UCI Paul Merage School, formerly an Assistant Professor at Carnegie Mellon University and previously a student at Wharton Business School at the University of Pennsylvania
Some business school teachers come from business practice – in management, investment or consulting. They gradually move into science: first, one or two presentations within the framework of another professor’s course, individual coaching, co-authorship of the course with a colleague, and then independent teaching. These professors tend to publish less often, but they also engage in research and study of the work of colleagues, and not only rely on their experience.
For example, Rachel Pacheco is a lecturer at the Wharton School of Business at the University of Pennsylvania and worked at Oxeon, JPMorgan Chase and a number of projects in developing countries before joining science. Or Moshe Cohen, a lecturer at Boston University’s Questrom Business School, also founded The Negotiating Table, while graduating with a master’s degree in physics and working as a robotics engineer.
In addition to his own research, a business school professor should also be a good teacher, able not only to produce new knowledge, but also to help others learn and apply it. Mastering the science of teaching adults (andragogy) also occurs gradually.
Scientists begin with teaching basic courses, gradually shifting to more and more advanced ones. There are usually four main ranks of teachers: instructor (or lecturer), assistant professor, associate professor, and professor. Sometimes teachers also occupy some other administrative position. High-level professors have not only deeper expertise, but also developed emotional intelligence, outlook, quick mind – the ability to respond to complex tasks in the moment. This allows them to work with more advanced audiences.
How much do MBA teachers get paid?
The demand for such specialists in the market is high. The income of experienced teachers at international business schools is often several hundred thousand dollars a year. According to statistics from the Business School Data Guide (AACSB International), the highest average salaries for teachers in organizational behavior (Behavioral Science) are $207 and finances are $200. The lowest are in general business (General Business) are $98, as well as in public administration – $106. By the way, about the same is the cost of studying in MBA rating programs: about $100. If a teacher also becomes a bestseller author, he will be able to earn several tens of thousands of dollars in just an hour’s performance. So in terms of income, teachers do not lag behind their best student businessmen.
Forming a team of such experts is a difficult task. Keeping the best specialists in all subjects or several stars in one is usually too expensive for the school, so you have to choose. It turns out that the best specialist in his field does not necessarily teach at the best business school. On the contrary, there are practically no schools where all directions would be equally good. You may have noticed that academic educators often switch schools over the course of their careers in very different orders. This indicates the absence of a direct hierarchy, which school is better and which is worse. Quite often there is a situation when an outstanding expert practitioner is not associated with any particular school at all and lectures at different universities (this position is called a visiting professor).
For example, Professor Allen Morrison studied at three universities and lectured at a dozen business schools, such as Thunderbird, IMD, INSEAD, Ivey (where he received an MBA), Anderson (UCLA), Harvard Business School, Michigan Ross, etc.
A new look at business education
If in the XNUMXth century business education was perceived practically only as an MBA, then in recent years the choice has become much richer and it is no longer necessary to limit yourself to an MBA.
Short courses, individual programs, online learning are taking their share of the market. This gives students the opportunity to form an individual educational trajectory and acquire the necessary skills cheaper, faster, more accurately and less academically.
At the same time, it is important to understand that even the most unique expert will not be able to solve the problems of a particular business on his own. Copying someone else’s practices will not work. As practice shows, MBA graduates are more often employed than create their own businesses, at least most of the founders of the 500 largest companies in the world either do not have an MBA degree or received it from a little-known school.