28-Year-Old Harvard MBA Being Groomed by Warren Buffet
What a difference four years can make!
In 2009, Tracy Britt had earned her MBA at Harvard and landed a job at Fidelity Investments. Fast forward to 2013 and Britt is serving as Chairman of four companies under the Berkshire Hathaway umbrella worth a combined a $4 billion dollars. So how did that happen?
Well, hard work is one explanation. Britt was raised on her family’s farm near Manhattan, Kansas. According to the Harvard Magazine, Britt spent her teenage years negotiating with fruit and vegetable distributors before heading to Harvard. As a junior, she interned at 85 Broads, where she was exposed to the hedge fund industry. She completed internships at Bank of America and Lehman Brothers, along with serving as President of The Harvard Undergraduate Women in Business (HUWIB) and founding Smart Woman Securities.
But Britt really made her mark when she was hired as Warren Buffet’s Financial Assistant. Along with Midwestern roots, Britt shares her mentor’s preference for steady organizations with broad appeal to consumers. She was heavily involved in Berkshire’s investment in H.J. Heinz & Co. And she now helps coordinate communication between the CEOs of various Berkshire properties. But here’s the true sign of Buffet’s confidence in Britt: Her office is next to Buffet’s office at Berkshire headquarters.
The Wall Street Journal notes that some analysts and Berkshire observers believe Britt will assume responsibilities similar to David Sokol, who often handled difficult negotiations and turning around troubled acquisitions before his departure. Yes, Berkshire may still have the Oracle of Omaha. Someday, the investment community may refer to Tracy Britt as the Magi from Manhattan.
Source: Wall Street Journal
The Hot New MBA: Supply Chain Management
Well, that was the mantra for Benjamin Braddock’s generation. These days, it seems like supply chain management is where you’ll find the real money. According to Arizona State University, 2012 MBAs who landed positions in logistics averaged $97,481, nearly $5000 more than their Sun Devil classmates. According to David Closs, Chair of Michigan State’s supply chain management department, there’s little chance of the industry getting saturated in the near term.
Maybe that’s why over a half dozen universities have recently added majors and concentrations devoted to transportation, distribution, storage, and logistics technology. For years, organizations viewed the supply chain as a cost center. With the explosion of eCommerce and global markets, logistics has emerged as a competitive advantage.
As a result, leading organizations are prowling campuses and establishing internships in search of fresh talent. For example, Rutgers University has attracted organizations like Dell, Johnson & Johnson, and Panasonic. General Dynamics and Target are using Bryant University as a feeder. Even Deloitte LLP is getting into the act, hiring MBAs for their growing supply chain consulting segment.
This year, institutions like USC’s Marshall School of Business and North Carolina’s Kenan-Flagler are adding MBA and M.S. programs in supply chains. Expect more to jump on board in the coming years.
Source: Wall Street Journal
How Extracurricular Activities Can Enhance Your MBA Experience
Think good grades will get you a job?
Well, they don’t hurt. But the MBA experience is about far more than academics. This week, Stacy Blackman in US News and World Report examined an occasionally overlooked benefit of business school: Social clubs.
According to the Graduate Management Admission Council, less than 50 percent of prospective students plan to join student groups. That’s a shame. Blackman notes that organizations offer advantages that high marks can’t match, such as building a wider professional network, sharpening leadership skills, and exploring various career paths.
According to an anonymous blogger at the University of Chicago’s Booth School, student groups are mandatory for internships and interviews, noting that “…student groups are often the first line of recruiting. Many events are members only. If I want to interact with my target companies I need to join the clubs.”
Most important, these clubs are a place to develop relationships. In the words of Julianne Harty, a Carnegie Mellon grad and blogger for Sleeping Between Spreadsheets, “Being able to bond over a beer, a game of poker, the latest case study you worked on, diffuses a little of the stress of the program. These extracurriculars are where you find your friends in the program.”
Source: U.S. News and World Report