DEAN’S REPORT 2014 - 2015
I S E N B E R G S C H O O L O F M A N A G E M E N T | U N I V E R S I T Y O F M A S S A C H U S E T T S , A M H E R S T | W W W. I S E N B E R G . U M A S S . E D U
TABLE OF CONTENTS
From the Dean
2
Impressive Opportunities
7
Building our Talent Pool
11
On the Rise
3
Entrepreneurship Initiatives
9
Expanding Network
13
Top 20
5
Innovative Vision
10
Valued History
14
From the Dean The Isenberg School of Management is experiencing a monumental shift. Over the last five years, we’ve recalibrated our priorities, focusing on generating robust research, attracting top-tier students, and becoming one of the leading business schools in the nation. Our hard work shows: • Our undergraduate and graduate programs have leapt in the rankings, and we expect them to continue to climb. • We’ve attracted exceptional faculty and scholars who are making Isenberg a research powerhouse. From 2010 to 2015, we’ve engaged in over 30 faculty searches.
• In addition to a $10 million gift we received for a new Entrepreneurship Center, we have six new endowed positions to attract and retain top talent. • We redesigned our Full-time MBA program to develop graduates with strong skills in organizational change and business analytics.
• We are in the process of building a new 70,000-square-foot addition to house new programs, centers and faculty, and to support our vibrant student growth. Sincerely, Mark A. Fuller, PhD Dean, Isenberg School of Management Thomas O’Brien Endowed Chair
On the Rise Undergraduate Rankings By Bloomberg Businessweek 2014
Business School Rankings
Employer Survey of Recruiter Satisfaction
10 20
36
#
30
45
#
50
Ranked 11th Overall in recruiter satisfaction
Early Admissions Profile
36
78
#
72
#
90
RANKING
90
2011
Among public universities
23
36
#
3.92
1291 Average SAT score
3 | ON THE RISE
23
39
#
2012
2013
#
60
#
2012
2013
2014
YEAR
2010
2011
Among public universities
Overall
2014
Overall
Current Students
(as of February 2014)
High school GPA
11
#
70 80
2010
68
#
60
80
YEAR
32
30
50
64
6
#
# #
40
#
60
10 20
#
40
70
TH
30
20
13
#
RANKING
1 Most Improved Undergraduate Business School 2010 - 2014
#
27
#
#
#
14
#
90%
Would recommend Isenberg to a friend
70%
Participate in a field placement
91%
68%
Placement Rate
Volunteer
3 months out for BBA Class of 2015
80%
Participate in a student club
$55,000
$16,696
Median starting salary
Average outstanding debt
MBA Program Rankings By US News and World Report
Full-time MBA Program Ranking
Part-Time MBA Program/ Ranking
20
32
#
30
28
22
#
#
40 50
13
#
17
#
10
Online MBA Program
10
16
#
30
20
#
28
#
59
#
26
#
30
US News & World Report, 2015
40
60
50
#
57
#
51
#
60
60
70 80
90
90
YEAR
2012
2013
2014
Among public universities
RANKING
70 80
RANKING
BEST
9
#
2015
YEAR
2012
2013
Among public universities
Overall
2014
2015 not ranked due to program size
Overall
Largest program among top 20 AACSB accredited programs
Full-time MBA Stats
USN Online MBA 2015 Ranking
(Class of 2014)
Employment by Function Marketing/Sales Operations/ Production Consulting General Management Other
14% 20%
Employment by Industry 14% 14%
38%
Media/ Entertainment Pharma/Biotech /Healthcare Manufacturing
21%
21% 14% 44%
11
Online MBA Program Financial Times, 2015 Ranking
Other
ON THE RISE | 4
To 20
Smartest working business school
Bloomberg Businessweek ranked us #14 amongst public universities in 2014. We earned this top spot because of the outstanding students we attract. The Isenberg student experience and preparation is driving key metrics such as recruiter satisfaction, exit salaries and placement rates.
Here at Isenberg, we love data and are always looking for ways to improve how we operate. We’re frequently asked, “How do you measure up to other top public business schools?” We decided to dig deeper to see how we compare to other top business schools in terms of enrollment, operating budget and school endowment. Our analysis indicates that although Isenberg serves more students than many other top publics, we still continue to achieve outstanding results with a smaller operating budget. While we have accomplished much with relatively modest resources, we are now 71% of the way on our $100 million capital campaign. LEARN MORE AT ISENBERG.UMASS.EDU/ENGAGE
955
Total Degrees Awarded
71%
of $100 Million Capital Campaign
65
Tenured and Tenure-track Faculty, #19 out of top 20
$33,863,136
Operating Budget, #16 out of top 20
Source: Isenberg undergraduate BBA and BS Sport degrees awarded 2013; data as reported on AACSB accredited programs through 2013 academic year excluding UC Berkeley.
#
1
MOST IMPROVED UNDERGRADUATE PROGRAM IN THE NATION
TOP 20 | 6
Impressive Opportunities Our students are well prepared to embark on careers of consequence with the nation’s leading firms and emerging companies. Our culture values community, collaboration and innovation, making our graduates dynamic leaders who are having an impact on the world stage of business. V IMBA I M OYO ’ 16
VIMBAI, pictured here, was placed in the HR Dept. of the Waldorf Astoria in New York City.
The Waldorf Astoria in New York City is a massive hotel. The building, along with the Waldorf Astoria New York Towers, takes up a whole city block. This is where Vimbai Moyo ’16, a hospitality and tourism major, spent her internship helping to keep human resources on track for over 1,400 employees. “The experience was unlike anything I ever imagined,” Vimbai says. “The hotel is so fast-paced that I was kind of ‘thrown into the fire’ in a good way and forced to learn quickly.” For the first three weeks, Vimbai rotated through each department at the hotel before settling into the human resources department. “I had never worked in an office setting, so that was new for me,” Vimbai says.
7 | IMPRESSIVE OPPORTUNITIES
In her role, she got a bird’s-eye-view of working with hotel unions, calculating FMLA leave, and training new hires. “The team at the Waldorf Astoria ensures that interns are not ‘just filing and getting coffee,’” she says. “Yes, I did administrative work because that does need to happen in an office setting, but I also was given numerous challenging projects and responsibilities. These projects exposed me the world of HR, as well as the hospitality industry in general.” Vimbai earned her internship when she attended the National Society of Minorities in Hospitality (NSMH) 2014 National Conference. Hilton Properties was at the event to recruit interns. Vimbai interviewed on the spot, handing over her a resume that she had polished with the help of Isenberg’s Chase Career Center.
“I now have connections all over. Isenberg links you to people and then you always have each other. You end up being very proud to be a part of the Isenberg community.” “The resume that I had prepped with the Career Center helped me to land an interview,” she says. “The interview skills that I learned through different NSMH workshops, transitions courses, and general advice from Isenberg faculty and peers helped me to land the position.”
A year from graduating, Vimbai is still deciding on her future plans. She’s considering pursuing hotel development. In the meantime, she’s taking advantage of the career help that Isenberg offers. “Isenberg has already created such a great network for me that I’m tapping into now,” she says. “I now have connections all over. Isenberg links you to people and then you always have each other. You end up being very proud to be a part of the Isenberg community.”
1075
JOB OPPORTUNITIES available
to students each year via Isenberg’s Chase Career Center. The Chase Career Center helps students craft a personalized job search based on their career goals and leverage Isenberg’s alumni and recruiter network.
RISHI BA HL ’14
Rishi, a corporate finance major, got his job with GE Capital through what he calls a “networking dream story.” While attending an Isenberg-affiliated Net Impact talk, Rishi met a panelist from GE Power & Water. Rishi expressed his interest in the company, and the panelist put him in touch with a colleague at GE’s Financial Management Program (FMP). The rest is history. “I took the job right away because I knew it was my best opportunity,” Rishi says. Rishi is now in the thick of a two-year rotational program, which allows him to work in four different assignments. “I’m meeting people from all over the country,” he says.
GE was also impressed with Rishi’s resume. With the help of the UMass and Isenberg career centers, Rishi had garnered valuable work experience and internships. During his junior and senior years, Rishi worked for State Street Corporation’s Hadley office near UMass. State Street is one of the world’s leading financial service providers, and the job gave Rishi access to real-world work experience. “It was a huge deal for me,” Rishi says. “It’s not just another dining commons job. To get actual experience processing multi-million dollar trades with a huge investment management firm was crazy.” Over the summer of his junior year, Rishi interned with JPMorgan Chase’s Corporate Analyst Development Program (CADP). “If you’re driven and you want something, you can get it at Isenberg,” he says.
IMPRESSIVE OPPORTUNITIES | 8
Entrepreneurship Initiatives
$10 Million Gift
for Entrepreneurship Center Longtime supporters Douglas and Diana Berthiaume donated $10 million to create a worldclass Center for Entrepreneurship at Isenberg. Berthiaume ‘71 (Accounting) is chairman, president and CEO of Waters Corp. in Milford, MA, and co-chair of UMass Rising, the university’s $300 million campaign. The Douglas and Diana Berthiaume Center for Entrepreneurship will be the hub of a campus network of scholars, innovators and entrepreneurs with a mission to transform ideas into business realities.
Key aspects of the Center will include: • An entrepreneur-in-residence program • A research paper series • Credit-based courses for students, as well as mini-courses and workshops • Internship programs • Engagement with leading organizations • Innovation Challenge-type elevator pitch and business plan competitions • Incubator space and coaching support for start-ups • Support for small business development
9 | ENTREPRENEURSHIP INITIATIVES
ISENBERG MBA STUDENT WINS INNOVATION CHALLENGE Full-time MBA student David Waymouth won first-place honors in UMass Amherst’s annual Innovation Challenge business plan competition. His business proposal: Rescue Collar, a pet-tracking device that allows owners to find their pets via iPhone and Android apps. Waymouth received a prize of $25,000 and an invitation to participate in the MassChallenge business plan competition.
Innovative Vision Over the last four years, we’ve focused on increasing the value of an Isenberg education. We’ve poured new attention and energy into expanding the quality of our academic programing and building a sustainable reputation and infrastructure.
Program Innovation & Quality MBA Redesign We’ve embarked on a key component of our vision: designing cutting-edge curriculum and increasing the quality of our undergraduate, graduate and PhD programs. Our forward-thinking approach allows us to meet the needs of the business industry and the needs of our students. We have: • Revised our core curricula in finance and accounting • Developed a new major in operations and information management • Introduced a Full-time MBA Fellowship, awarding a full tuition package to every Full-time MBA student • Created new focus areas in our current MBA program: Health Care Management, Finance and Entrepreneurship
Co-curricular Innovations
Sustainable Reputation & Infrastructure
To best support our students, we introduced:
We are expanding our capacity and building the facilities that reflect our serious educational and research pursuits. Our initiatives include:
• Dean’s Freshman Leadership Seminar to instill leadership skills • Sophomore Career Course to enhance career development • Chase Career Center’s Optimal Interview software to elevate interview skills • Isenberg’s Citizens First Program that encourages community outreach
• A Business Innovation Wing, which will include a student learning commons • A Center for Global Financial Education and affiliated Trading Room that will provide hands-on experience in investments and risk management • An Executive Conference Center that will facilitate corporate and executive engagement inside and outside the classroom • A Center for Entrepreneurship accessible to the entire campus community and serving as a hub for entrepreneurship activities
INNOVATIVE VISION | 10
Building our Talent Pool
Isenberg is committed to attracting and retaining outstanding faculty, and to elevating leadership.
New Endowed Chair
New Endowed Chair
New Leadership Position
HOSSEIN B. KAZEMI
CHRISTOPHER P. AGOGLIA
JANE GIACOBBE-MILLER
is a professor of finance at Isenberg and the new Michael and Cheryl Philipp Professor of Finance. A professor at Isenberg since 1986, Kazemi is director of Isenberg’s research center, the internationally recognized Center for International Securities and Derivative Markets (CISDM).
11 | BUILDING OUR TALENT POOL 11 EVOLVING LEADERSHIP
is chair of Isenberg’s Department of Accounting and the inaugural Richard Simpson Endowed Professor in accounting. Agoglia, whose research focuses on auditor judgment and decision making, recently ranked in a tie for first in the nation for refereed papers published in that category. The ranking, conducted by Brigham Young University, is based on published work in the field’s top six journals over a six-year span.
is an associate professor of management and was appointed as MBA Core Faculty Chair in 2014. She has been a professor at Isenberg since 1989 and her research and consulting focuses on cross-cultural values adaptation, international human resource management, and labor relations.
New Leadership Position
New Hire
New Hire
THOMAS MOLITERNO
ROB WHITED
YOON JU KANG
is an assistant professor of accounting who earned his Ph.D. from the University of Tennessee-Knoxville. Rob adds a new dimension to our research strength in auditing by marshaling archival data and methods to explore and answer timely audit-related issues and concerns.
An assistant professor of accounting, Yoon Ju previously taught at Lehigh University and received her Ph.D. in accounting from the University of Illinois at Urbana-Champaign. Her research builds on our accounting department’s strength in auditor judgment research, for which it holds the world‘s top ranking.
is an associate professor of management and the associate dean for Faculty Affairs and Research. Welcomed to Isenberg in 2011, Dr. Moliterno held the MBA Core Faculty Chair in 2013. His research focuses on resource-based theory, strategic human capital, behavioral theory, and social networks.
Isenberg is continuing to build its talent pool through nine new faculty searches across five departments, with an endowed chair focused in management. B UILDING OUR TALENT POOL | 12 INNOVATIVE VISION 9
2014 IBLA HONOREES BOSTON’S former mayor Thomas Mennino introduced Fubini, who was a senior director of McKinsey & Company, where he worked for over 33 years. After Isenberg, Fubini helped Johnson & DAVID FUBINI ‘76 Johnson’s McNeill Consumer Products Division launch and grow the blockbuster drug, Tylenol. He then earned an MBA from the Harvard Business School, after which he embarked on his career with McKinsey. Fubini is a member of Isenberg’s Dean’s Committee.
Expanding Network Awards Dinner Honors Distinguished Alumni Isenberg’s network is growing thanks to a number of new networking and outreach initiatives that engage alumni—including a Dean’s Round Table to bring together high-level executives and alumni receptions held at Red Sox games or at UMass home games at Gillette Stadium. The Business School gathered in June at the second annual Isenberg Business Leadership Awards (IBLA) to honor two distinguished alumni—David Fubini ‘76 and
13 | EXPANDING NETWORK
Christina Calvaneso ‘03. The event, held at the Colonnade Hotel in Boston, celebrates alumni who have made meaningful contributions to the business world and continue to be engaged at Isenberg. Three hundred alumni joined Isenberg faculty and students at this high-energy milestone in the school’s rising reputation and expanding national footprint. SAVE THE DATE! June 17, 2015 Business Leadership Awards at the Colonnade Hotel, Boston, MA
CHRISTINA CALVANESO ‘03
CALVANESCO is a senior vice president of Finance & Business Operations for Eyeview Digital, a market leader in personalized video. Before Eyeview, Calveneso worked for Criteo, where she took the company
from start-up to IPO readiness. Her career began at General Electric, followed by Deloitte Consulting, where she managed multi-million dollar global engagements for Fortune 50 clients. Calvaneso graduated from Isenberg with a degree in Finance and Operations Management, where she continues to mentor current students.
Valued History School Mourns the Passing of Namesake Eugene M. Isenberg ‘50
The Isenberg School of Management mourned the passing of Eugene M. Isenberg ‘50, ‘00H who died on March 16, 2014. For 25 years, Mr. Isenberg was chairman and CEO of Nabors Industries, a world leader in gas and petroleum drilling. In 1997, Mr. Isenberg and his wife Ronnie donated $6 million to the then School of Management, which was the largest contribution from an individual in UMass Amherst’s history. The gift brought the Isenberg alumni community together with unprecedented energy in the school’s campaign to build its 42,000-square-foot Harold Alfond Management Center wing. In 1998, the school became the Eugene M. Isenberg School of Management in honor of Gene’s generosity and leadership.
At the time of his passing, Mr. Isenberg was one of the four co-chairs of UMass Rising, the campus’s $300 million sesquicentennial fundraising campaign. He was also a board member and former president of the UMass Amherst Foundation. In 2012, Mr. Isenberg was the inaugural recipient of the University’s Legacy of Leadership Award. The accolade recognizes visionaries who have transformed organizations while championing public service, social diversity, and quality of life improvements. In 2000, he received an honorary doctorate from the University.
Hundreds gathered on December 4, 2014, to celebrate Gene Isenberg’s legacy, including his wife Ronnie, their daughter Diane, her husband David and their children Dylan, Carolyn and Stefan.
Founded in 1947, the Isenberg School of Management on the University of Massachusetts flagship Amherst campus has over 42,000 alumni in 86 countries. Isenberg offers its AACSB-accredited courses to 4,800 students on campus, online, and in blended formats. The School’s 3,400 undergraduates major in seven business disciplines, including industry specialties in sport management and hospitality & tourism management. Isenberg’s 1,400 graduate students earn the M.B.A., M.S., and Ph.D. degrees. The Isenberg faculty has world-class research strengths in alternative investments, quality management, large-scale networks, organizational change and culture, and behavioral accounting.
Isenberg School of Management University of Massachusetts, Amherst www.isenberg.umass.edu