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Wharton MBA Earns a Whopping $350,000 Starting Salary

January 18, 2011

Wharton MBA Earns a Whopping $350,000 Starting Salary

by Suada Kolovic

You read correctly, a Wharton graduate nabbed the highest annual base salary last year with a private equity firm in New York. The staggering $350,000 starting salary was more than three times the median base salary – $110,000 – of the MBA’s classmates. Yet, these high paying salaries are anything but unique: MBAs from some of the top business schools in the U.S. – Wharton, Stanford, U. Chicago, Columbia and Northwestern – reported that the highest base salary received by a 2010 graduate was $300,000 or more. These figures come from annual summaries of employment of the most recent graduating class. The Wharton MBA career report, which gets its data from student surveys, includes information on compensation, location of employment and the industries in which the graduates now work.

According to management professor Mathew Bidwell, it is both the characteristics of the individual and of the job itself that lead to large starting salaries. “These [private equity] firms tend to have reasonably few people managing very large sums of money,” said Bidwell, whose research focuses on employment. “As you get more senior, each person potentially has quite a substantial impact on the success or the failure of the fund.”

At Wharton, the $350,000 salary earned last year isn’t even a record. In 2009, the top-earning graduate landed a $420,000 base salary…wow. Now, I’m sure you’re thinking where do I sign up, but how important is a high paying salary to you? Are you thinking about changing career paths in order to rake in the dough?

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Got Stress?

Annual Study Shows College Freshmen are Overwhelmed but Optimistic

January 27, 2011

Got Stress?

by Alexis Mattera

A student’s first year in college is one rife with new experiences and challenges. We have plenty of info on our site to help ease that transition – from dealing with common roommate problems to overcoming writer's block in college essays to beating the winter blues – but it looks like members of the class of 2014 are having more difficult times adjusting to the college lifestyle.

An annual study found 51.9 percent of first-year, full-time students reported their emotional health was above average. That may not seem so bad but lead author, UCLA's John Pryor, said this figure is a "fairly alarming" 3.4 percentage points lower than last year and the lowest since the inaugural study in 1985 when 63.6 percent reported feeling above average. Despite these record-low levels of emotional health, about 73 percent of students surveyed generally expressed positive attitudes toward higher education, even as they struggle to fund it because they believe it will help their future earning power.

But why the disparity between low emotional health and high expectations? It’s difficult to pinpoint one specific reason but Marcus Hotaling, chairman of mental health for the American College Health Association, has a theory: When the study began in 1985, he said, many students with mental health issues did not get into college but today, they are able to pursue post-secondary degrees because of improved medication, reduced stigmas and a greater willingness to share concerns with others. "Students are more attuned to who they are, what they're dealing with, and that there's help out there," said Hotaling.

First-time college students, do you share the sentiments of the students surveyed or is your freshman year shaping up to be one of the best years of your life thus far?

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Top 10 Universities for Campus Housing

January 31, 2011

Top 10 Universities for Campus Housing

by Suada Kolovic

If you’re a high school senior, you’ll be faced with a major decision in the coming months: choosing the right college. And while there are myriad factors to consider when making your decision, campus housing can be a crucial piece of the puzzle. For the most part, students are required to live in campus housing during their freshman year while upperclassmen tend to live off-campus in apartments. The reason: Most larger universities just don’t offer enough on-campus housing to accommodate their entire undergraduate populations. Yet, that’s not always the case because some prominent institutions with large endowments offer housing for all undergraduates.

According to an analysis of student housing data provided by the U.S. News & World Report, students at many of the country’s top ranked schools opt to remain on campus until they graduate. Of the top 10 national universities with the highest percentage of students living on campus, five are Ivy League institutions. Check out the complete list below (schools are ranked by the percentage of their undergraduate student body living on campus).

  1. Princeton University
  2. Harvard University
  3. California Institute of Technology
  4. Columbia University
  5. Massachusetts Institute of Technology
  6. Stanford University
  7. Vanderbilt University
  8. Yale University
  9. Dartmouth College
  10. Stevens Institute of Technology
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Who Owns Student Inventions Created on School Property: School or Student?

February 1, 2011

Who Owns Student Inventions Created on School Property: School or Student?

by Suada Kolovic

Imagine this: There’s a contest at your university to create the next big iPhone app, the next Angry Birds if you will. On a whim, you decide to enter and miraculously (or not so miraculously given your tech savvy) you win! You’re overcome with pride and joy and begin fantasizing about a life of excess. It’s only after you’ve mentally purchased everything under the sun that reality sets in and you realize you haven’t read the fine print: The university where you did the bulk of your designing may assert a partial or complete claim to the product you’ve created. If you think that’s less than awesome, then you’re right on par with a group of students at the University of Missouri at Columbia.

The team of said students designed an iPhone app for a contest hosted by the Reynolds Journalism Institute at the Missouri School of Journalism. To be fair, the university did inform students of the policy prior to entering the competition which led to some students dropping out, said Anthony Brown, then an undergraduate in the department of journalism. But despite their reservations, Mr. Brown and his team, fellow students Zhenhua Ma, Dan Wang and Peng Zhuang, decided they’d stay in. They won the competition with an app called NearBuy (which gives you the ability to search for condos and houses by location using the iPhone's built-in locate-me technologies) and contacted the university to assert their ownership and to ask the university to waive any intent to assert ownership, according to the Chronicle. They argued that student inventions, even if fostered to some degree by faculty mentors, stood apart from the work done by faculty members using university resources.

Faculty members of the journalism department signed letters supporting the students’ case. And ultimately administrators agreed with the students and allowed them to maintain full ownership of their app, which to date has been downloaded over a quarter of a million times.

To some extent because of the case, the University of Missouri decided to rewrite its intellectual-property policy to better address student inventions. According to Michael F. Nichols, vice president for research and economic development for the Missouri system, the rules now cover everything from work students do as part of a class, to student work created as part of a competition, to work students do in an extracurricular group that is sponsored by the university. Keep in mind Missouri’s regulations aren’t the norm at all universities. How would you feel knowing, or not knowing for that matter, that if you were to create something on campus your university would have the rights to it?

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What are They Reading?

Bestselling Books on Campus

February 22, 2011

What are They Reading?

by Suada Kolovic

Curious as to what college students are reading this spring? Well, wonder no more! The Chronicle has compiled a list of the best-selling books from information supplied by stores serving the following campuses: American U., Beloit College, Case Western Reserve U., College of William & Mary, Drew U., Florida State U., George Washington U., Georgetown U., Georgia State U., Harvard U., James Madison U., Johns Hopkins U., Kent State U., Pennsylvania State U. at University Park, San Francisco State U., Stanford U., State U. of New York at Buffalo, Tulane U., U. of California at Berkeley, U. of Chicago, U. of Florida, U. of Illinois at Urbana-Champaign, U. of Miami, U. of Nebraska at Lincoln, U. of New Hampshire, U. of North Dakota, U. of North Texas, U. of Northern Colorado, U. of Oklahoma at Norman, Vanderbilt U., Washington State U., Washington U. in St. Louis, Wayne State U., Williams College, Winthrop College, Xavier U. (Ohio). For more information on any of these schools, check out our college search.

  • The Girl Who Played With Fire

    by Stieg Larsson
  • The Girl With the Dragon Tattoo

    by Stieg Larsson
  • Freakonomics: A Rogue Economist Explores the Hidden Side of Everything

    by Steven D. Levitt and Stephen J. Dubner
  • Eat, Pray, Love: One Woman's Search for Everything across Italy, India and Indonesia

    by Elizabeth Gilbert
  • Sh*t My Dad Says

    by Justin Halpern
  • Mockingjay

    by Suzanne Collins
  • Are You There, Vodka? It's Me, Chelsea

    by Chelsea Handler
  • Three Cups of Tea: One Man's Mission to Promote Peace . . . One School at a Time

    by Greg Mortenson, David Oliver Relin
  • The Daily Show with Jon Stewart Presents Earth (the Book): A Visitor's Guide to the Human Race

    by Jon Stewart
  • A**holes Finish First

    by Tucker Max
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University Study: Students Feel Guilty for Texting in Class

February 24, 2011

University Study: Students Feel Guilty for Texting in Class

by Suada Kolovic

Over the years, students have mastered the art of distraction during class, from daydreaming to doodling to note-passing to sleeping to the quintessential distraction these days: texting. And while texting has revolutionized the way in which we communicate, does it have a place in the classroom? A survey of students at the University of New Hampshire found high rates of texting during class and a great deal of guilt about that behavior to go along with it. The majority of students surveyed admitted they felt guilty for sending text messages in class when they were not supposed to but despite those sentiments, a whopping 80 percent said they normally send at least one text message in each of their classes.

According to the survey, which was conducted by student researchers at the UNH Whittemore School of Business and Economics, many students don’t believe that texting should be allowed in class, 49 percent felt guilty in class when it’s not allowed, 51 percent are distracted from class material when they text and 51 percent said they are prohibited from texting in up to half of their classes. The survey also showed that women were more likely to send text messages than men. "I wasn't surprised by the results, but I was surprised to see that some teachers didn't prohibit texting in their classes," said Gretchen Eastman, one of the lead student researchers on the study.

The survey looked at the texting behavior of students and researchers will present their findings at the university’s undergraduate research conference in late April. Let us know what you think. Do you feel bad about texting in class? Do u think txting in class can b distracting 4 u?

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William and Kate Get an Early Wedding Present…and It Could Benefit You!

University of St. Andrews Creates a Scholarship in Royal Couple’s Honor

February 25, 2011

William and Kate Get an Early Wedding Present…and It Could Benefit You!

by Suada Kolovic

At Scholarships.com, we know scholarships and if you’re interested in attending the University of St. Andrews in Scotland, then we have the scholarship for you! The Scottish university where Prince William and Kate Middleton met and studied is presenting the royal alumni with an early wedding gift – a scholarship in their honor. The unnamed scholarship will pay about $115,000 in tuition costs, accommodation and living expenses for an undergraduate degree in science, arts, medicine or divinity. The award will be open to applicants of all nationalities who would have been unable to attend the university without such financial support.

"This will be the first scholarship of its kind at St. Andrews and a reflection of this university's commitment to ensure that we find, attract and support the most gifted students from anywhere in the world," said Louise Richardson, the university's principal and vice-chancellor. St. Andrews is Scotland’s first university and the third-oldest in the English-speaking world.

For those of you who aren’t lured by the idea of studying in the former halls of the royal couple, conduct a free scholarship search at Scholarships.com for scholarship opportunities in your own backyard.

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University Photo Class Teaches More Than Just Point and Shoot

New Course Takes Aim at Camera Phone Composition, Ethics

March 3, 2011

University Photo Class Teaches More Than Just Point and Shoot

by Alexis Mattera

Cameras are standard features on most cell phones nowadays and for every user that emulates Ansel Adams, there’s another that channels Peeping Tom. Though this outlook has caused more than a few scandals, many people still play fast and loose with the shutter button...and associated photo-sharing apps like Flickr and Facebook that make posting images all too simple. When will they learn? Sooner than later if Immaculata University has its way.

The suburban Philadelphia school is offering a new cell phone photography class focusing on both the quality of the images and the ethical responsibilities that come with taking and publishing them. Communications professor Sean Flannery and professional photographer Hunter Martin will split teaching duties; the latter will handle topics like composition, lighting and editing while the former will cover voyeurism, ethics, citizen journalism and the difference between public and private spaces in hopes that students will realize "the full gravity of what's at their fingertips and the power they can have."

The idea for such a college course isn’t novel – NYU has been offering a cell phone video class every fall since 2009 – but Immaculata officials believe their offering is different because of its ethical angle. "I think it's part of our responsibility ... to teach kids how to use this tool," Flannery said, adding that it's no different from teaching proper use of a video camera in a broadcast news class.

If there are any Immaculata students reading that are enrolled in this class, we’d love to hear about your experiences thus far. Other students, would you take a class like this if your school offered it? Why or why not?

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From College Dropout to Graduate: Kanye West to Join Fashion School

March 7, 2011

From College Dropout to Graduate: Kanye West to Join Fashion School

by Suada Kolovic

Kanye West’s name has become synonymous with controversy, success…and now a degree in fashion?

According to The Sun, the hip-hop superstar applied to study for a master’s degree in fashion at the Central Saint Martins College in London. West arrived in London on Wednesday to discuss his ambitions with the head of the course, Professor Louise Wilson, who has a reputation for making her students cry. A source told The Sun that the rapper has long been an admirer of the school and is serious about studying fashion: “Kanye spends a lot of time with fashion students and often hooks up with Central's arty pupils when he is in London. He already has work experience with Fendi and Louis Vuitton on his CV (curriculum vitae). Now that he has been interviewed the school's board will have to decide whether to allow him to start the MA fashion course later this year."

While he hasn't been accepted yet, this is a major decision for the college because while having Yeezy enrolled would garner major publicity – previous celebrity students have included M.I.A, Stella McCartney and Alexander McQueen – it could also damage the school’s credibility. Unfortunately, if Central Saint Martins doesn’t grant him admission, the school will likely find itself as the target of Mr. West’s next Twitter tirade…though we’re sure Professor Wilson will have a few choice words of her own. Let the admissions games begin!

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Controversy: Scholarships for White Men Only

March 8, 2011

Controversy: Scholarships for White Men Only

by Suada Kolovic

A non-profit group in Texas is offering college scholarships to a demographic it says has fewer scholarship opportunities than other groups – white males.

The group, called the Former Majority Association for Equality (FMAFE), was formed by Texas State University student Colby Bohannan. He’s an Iraq war veteran who decided to return to school but said he had trouble finding college scholarships for which he qualified. "I felt excluded," Bohannon told The Austin American-Statesman. "If everyone else can find scholarships, why are we [white males] left out?" So Bohannon and some friends founded FMAFE group, which plans to provide as many as five $500 scholarships to deserving white men – at least 25 percent Caucasian to be exact – who have at least a 3.0 grade point average and substantiate financial need. "We know that we're going to be receiving some vicious attacks, from people claiming that we are racists, or promoting some bigotry-filled agenda," he said. But Bohannan reiterates that the group’s aim is to help students and not jump on any political agenda or bandwagon.

The group was formally incorporated in Texas last March, and is currently accepting applications for Fall 2011. "We're not looking for blond-haired, blue-eyed, stereotypical white males," he said. "My feeling is that if you can say you're 25 percent Caucasian, you're Caucasian enough for us."

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