MBAS8 Tuck Deans V.qxd 19/2/08 14:28 Page 1
Dean’s diary
Why the full-time, two-year MBA
works for so many people
by Paul Danos, Dean of the Tuck School of Business
at Dartmouth
“One size does not fit all” is a phrase that is true with a great all-around education and adequate—
in many contexts and also applies to the world of but not necessarily extreme—depth in one area.
the MBA. Tuck was the first full-time graduate In the end, it all comes down to quality—
business program in 1900 and the model has in students, faculty and the intensity of the
flourished ever since. experience. At Tuck, as at many of the top full-time
Today, it can be found in every part of the programs, great students from around the world
world. One of the major advantages of the full-time are fully immersed on a tight-knit campus. The
MBA program in the modern era is that it gives 25- bonding that takes place among people of diverse
to 30-year-olds who did not get business training backgrounds in such an intense learning environ-
in college a path to business leadership that is very ment is virtually impossible to reproduce in a
difficult to get in any other way. The classic model part-time setting. And the networking and friends
is currently at its peak with students with the one acquires in the two years on campus are
highest board scores in history coming into the priceless in both personal and professional terms.
top programs from all corners of the world and One very important consideration is the cost
departing with the highest salaries at graduation. of a full-time program, both in terms of money and
Those willing to step away from their careers for time away from work. Here, one must rely on
the duration are rewarded with life-changing return-on-investment calculations that take all
opportunities; a journalist can become an factors into consideration. At Tuck, the average
investment banker; a school teacher can become guaranteed compensation for students in 2007 was
a strategic consultant. And for their age and about $175,000 and the average student had an
experience they’ll do so at the highest levels of their
Paul Danos, Dean, Tuck School of Business
educational loan balance of about $75,000 upon
chosen fields.
at Dartmouth
graduation. Such a ratio is certainly attractive and
But now there are many different forms of the it must be emphasized that non-U.S. citizens
MBA. Distance programs, part-time programs, programs as a safe bet to get a specific kind of job. earned approximately the same as Americans and
executive MBA programs, and specialized MBA These programs often build on an undergraduate that loans and scholarships are available to all.
programs have sprung up around the world at specialty and are appealing because they are often More important than money, however, is the
a breathless pace since the early 1980s. Leading one year in length. expanded opportunities to lead the major
the way are the emerging businesses of the world and in virtually all parts of
economies such as China, the world. This combination of high ROI and
India, and Brazil where “Those willing to step away from expanded horizons make the full-time MBA
hundreds of part-time something worth seriously considering.
programs have taken root their careers for the duration are
over the last decade. There
is also significant growth rewarded with life-changing
in specialized programs
in finance, accounting, opportunities.”
operations, logistics, and
more.
Part-time programs are often the only feasible One interesting and counterintuitive
choice for those who cannot leave their jobs for a phenomenon is that some of the most specialized
full-time program. Of course, a full-time program industries such as finance hire many MBAs from
gives students the opportunity to become the classic general management schools. At Tuck,
immersed in their learning. And because they get we are known as a general management school yet
to know their fellow students so well, they learn a we have one of the highest placement percentages
great deal about themselves and the worlds of their with the major investment banks. This proves that
fellow students. Specialized programs are appeal- when the top businesses in the world look for
ing to young people who see the depth of such tomorrow’s leaders, they will hire talented people
THE MBA CAREER GUIDE
www.topmba.com 57
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