Letter from the Dean
Dan Dry
Commitments for 2009 and Beyond
Edward A. Snyder, Dean and George Pratt Shultz Professor of Economics
I’m always asked how the school is doing. Now, these queries have more urgency and concern. Here’s some good news. We entered this period of economic uncertainty with major strengths. We have the best faculty in the world, continuing to expand understanding of how ideas take action through their work in the classroom and in their research; our students continue to learn the power of giving ideas precedence over anything else; our alumni are finding new ways to move forward in their careers while reaching back to Chicago Booth, both to give and receive support; and our staff continue to support our students and alumni at a level that exceeds expectations. That said, Chicago Booth is not immune to the impact of the economic downturn. The negative effects continue to unfold, and given our character as a truly global business school, we continue to see difficulties on many dimensions, namely: Lower anticipated revenue from non-MBA units, such as nondegree Executive Education, the conference facilities at Gleacher Center, and the Center for Research in Security Prices; Downward pressure on our Annual Fund and other giving; and Lower expected endowment income. More troubling to me, we see: Negative effects on the availability and quality of job opportunities for MBA graduates. These are the first-order effects of the downturn on our school. And of all these, the one we must focus on strategically is career support for our students and alumni. It is both the right thing to do now and what is important in order for us to be financially healthy in the long run. Toward that end, we have developed a coherent plan that builds on our recognized strengths in Career Services, the positive dynamic within our community around professional development and career exploration, and our unique profile as a truly global school with campuses on three continents. This plan includes: Increased resources for Career Services with the creation of four new employer development positions with responsibilities in and outside the United States. Increased school funding to leverage and expand summer internship opportunities. Disciplined outreach to alumni and friends, especially concerning potential job opportunities for students and alumni. n
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“Building on Our Recognized Strengths in
TheBoothEffect.com
Recruiters Conference
Career Services:” Making Connections Happen
This website provides tools to help members of
At the 13th annual Recruiters Conference,
For more information on any of the programs
the Chicago Booth community alert one another
Career Services advocates for all Chicago
listed here, or to find out how you can help
to great opportunities. Post an existing position,
Booth graduates by reaching out to the
fellow Chicago Booth alumni and current
refer companies who could benefit from
companies that are fans of our graduates.
students, please contact Associate Dean for
Chicago Booth talent, and alert Career Services
Information includes the strengths of our
Career Services Julie Morton at 773.834.3591
to individuals and businesses that are looking
graduates, professional development for the
or Julie.Morton@ChicagoBooth.edu.
for internships or new permanent talent.
recruiters themselves, and feedback on how to attract the best talent to fit their organiza-
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Chicago Booth Magazine Spring 2OO9
Letter from the Dean
New scholarships to second-year students. Recently, dean Stacey Kole announced forty Ambassador Scholarship Awards to current second-year students who, through their career exploration and summer internship experiences, added to Chicago Booth’s relationship capital. We are committed to continuing this program in the future. Consider this letter another step in that plan. If you can help students and alumni through internships, job opportunities, networking events, or individual coaching, I encourage you to contact Julie Morton, associate dean for Career Services. I am confident in Chicago Booth’s ability to emerge from this crisis stronger and better defined, especially relative to other business schools. There appears to be a “cost plus” mentality among some in academia, leading to decisions based on budgets rather than on a commitment to quality. There also appears to be a willingness to push revenues by expanding class size, regardless of a particular school’s ability to handle the long-term responsibility that implies. I strongly suspect that fewer schools will be truly global as a result of this economic and financial crisis. It is good to have the resources and ability to remain committed to our global presence, and I assure you that Chicago Booth will continue to be a strong voice around the world. While we must be prudent with costs and investments, we will never do so at the expense of integrity. That principle of achieving quality in every area—ideas, development of leading thinkers, the structure of our organization, and the spirit of our community—is our promise to you and to ourselves. n
“ I am confident in Chicago Booth’s ability to emerge from this crisis stronger and better defined, especially relative to other business schools.”
Edward A. Snyder
Dean and George Pratt Shultz Professor of Economics
tion’s needs. More information can be found
neurship, the James M. Kilts Center for Market-
tions in need of talent come together at these
at ChicagoBooth.edu/recruiting/conference.
ing, and LEAD facilitators and career advisors.
annual events to establish and strengthen con-
Our existing community has been the best
nections while learning new skills from industry-
Alumni and Business Leader Outreach
source of new job and internship leads, and we
leading experts. Held April 3 in Hong Kong and
Members of our alumni community and busi-
encourage everyone to contact Career Services
May 14 in London, these conferences feature
ness leaders have been responding to the
with any information you may have.
sessions on brand building, employee rewards
call for information on job leads and potential
and retention, and individual professional devel-
internships from our teams in Career Services
Talent Development Conference
opment beyond the classroom. Visit Chicago
and the Michael P. Polsky Center for Entrepre-
Alumni, current students, faculty, and organiza-
Booth.edu/recruiting/tdc for more information.
Spring 2OO9 Chicago Booth Magazine
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