Meet Vanderbilt Owen’s MBA Class Of 2022

Owen students on campus

A RECORD YEAR

That may be one year why Vanderbilt Owen enjoyed a banner year for applications. During the 2019-2020 applications cycle – and despite operating out of a pandemic – the school experienced a 79% jump in applications. Not surprisingly, the school was able to boost its class size from 147 to 184 students – with acceptance rate dropping by five points in the process. More than that, these increases came in the areas where many business schools struggle explains Sue Oldham, associate dean of MBA operations at Vanderbilt Owen, in a September interview with P&Q.

“What’s interesting was, we had a 28% increase in international applications in a world where all the articles are pointing at ‘No one’s applying to U.S. schools.’ And I think one of the things that we’re really proud of is our women and underrepresented minorities. We had a 100% increase in application volume from women this year, and we had a 181% increase in under-represented minority applications. Those percentages are almost silly to say out loud, but you have to remember Owen’s scale. We are small. We’re a small program. Last year we had a total of 54 applications from our under-represented minority population — I like to joke that that’s like one app per state. But this year we had 152 applications from under-represented minorities.”

That translated into a class that’s comprised of 32% women and 18% underrepresented minorities – up two and six points respectively. That class also boasts 8% international students, a six point drop from the previous class. However, some of the latter can be attributed to the 41 accepted students who deferred from joining the class this year.

Owen MBA students taking a break

DEEP BACKGROUNDS IN BUSINESS

Oldham also expects international admissions to bounce back during the 2020-2021 cycle due to the school’s personal scale. “What they’re finding in this world is, when you’re one of 300 international students at a really large school, you might get lost in that shuffle,” she tells P&Q. “At a school like Vanderbilt, we’re small enough that we are in contact with the people that issue the visas to make sure that the pieces are updated. We know when they’re going to the consulate to get their appointment. We know when their interview is. We know when their flight is. We know when they’re landing in Nashville. That sense of security was really noticed by our international student population.”

This class also produced a 676 average GMAT, down two points from the previous year (though matching last year’s 680 median). Another 18% of the class took the GRE. Academically, the class averaged a 3.40 undergraduate GPA, up slightly from the previous year. As undergrads, over half (53%) majored in Business, Economics, or Accounting. Engineering and Humanities and Fine Arts each accounted for 11% of the class. These proportions were followed by Social Sciences (10%), Science (8%), and Computer Sciences (1%).

Professionally, the largest segment of the class last worked in Financial Services (17.5%). Healthcare and Technology make up 15% and 10% shares respectively. The rest of the class includes students from Consulting (6.5%), Consumer Products (6%), Manufacturing (5%), Media and Entertainment (3%), Retail (3%), Real Estate (1.5%), and Energy (1%). The rest of the class worked in industries that fall outside these categories.

A FAST START TO 2021

If you think 2020 was a big year for Vanderbilt Owen, just wait until you get a look at the new year! It started in February, when the school climbed 14 spots in the Financial Times MBA ranking. One reason: the school notched the 4th-highest scores in career services according to alumni survey respondents.

“Our Career Management Center’s overall strategy is simple: Engage Early,” explains Sue Oldham, Owen’s associate dean of MBA operations, in a 2019 interview with P&Q. ”We recognize that recruiting is starting earlier each year as companies are searching for top talent and trying to get a jumpstart on the process. Our Career Management Center is very engaged throughout the entire recruiting and admissions process as we strive to deliver the Owen “personal scale” by walking alongside our students from the very beginning. Providing programming and preparation early in the process allows our students to be thoroughly prepared for recruiting opportunities, which can start as early as the summer before they even set foot on this campus to start their Vanderbilt MBA.”

That momentum continued with the announcement of a major campus renovation commencing in March. The $55 million dollar project will see the program’s main building, Management Hall, double in size and become LEED certified. Notably, the project will add a fourth floor along with a basement.

“Despite the difficulties of the current moment, we are dedicated to providing world-class facilities that set the stage for the best in scholarship and education,” says Daniel Diermeier, chancellor of Vanderbilt University. “This new space will make a profound impact on our mission and common purpose for years to come. This expansion reinforces Vanderbilt’s long-term vision and commitment to excellence in everything we do.”

Vanderbilt Owen Graduate School of Management has announced a $55 million renovation of Management Hall, its main building on campus. Courtesy images

AN INTERVIEW WITH SUE OLDHAM

That excellence is particularly pronounced in Healthcare, an area that traditionally attracts up to 20% of Owen graduates. It helps that Nashville is home to over 500 healthcare firms, including Fortune 500 leaders like HCA Healthcare, Community Health Systems, and LifePoint Health. In fact, nearly half of all private hospital beds are managed out of the Nashville metro. On top of that, Owen operates its famous Leadership Development Program, a research-driven curriculum that mimics the intensive introspection, coaching, and experiential learning found in leading corporate development programs. Leadership and Healthcare are two areas that are explored by Sue Oldham in a 2021 Q&A with Poets&Quants. In addition, Oldham share new developments in the full-time MBA program along with how the school has responded to COVID-19.

Here are Oldham’s thoughts on the state of the Owen MBA:

P&Q: What are the most exciting new developments at your program?

Oldham: “In direct response to social unrest that exploded in the United States this past year, Vanderbilt Business reacted quickly and swiftly to help our students explore, understand, and hopefully provide solutions as our students move through the program and then out into the business world. Creating a relevant curriculum is essential in keeping our MBA program top of mind to students who are demanding cutting-edge courses.

We created two pivotal classes this fall:

“Strategic Business Solutions to Address Structural Racism” is taught by Professor Mark Cohen. This course examines the impact of business on minority communities – exploring the extent to which standard management practices are both part of the problem and the potential solution to structural racism. The class provides historical context for understanding how outright discrimination might have evolved into more subtle structural racism by institutions, including business. In other words, structural racism sometimes occurs even in the absence of racial animus or intentional discrimination. A framework is developed to understand the economics behind organizational structures and business practices that foster disparate treatment of minorities – as well as those that foster equal treatment. Focused on economic incentives, organizational design, and corporate strategy, this framework will not only help explain the problem, it will allow for exploration of potential solutions. An important component of the course will be to explore the extent to which changes in business practices may result in profitability tradeoffs versus potential value creation. Case studies will include particular industries and business disciplines where structural racism has been found. The class incorporates guest lecturers, case write-ups, and a final group presentation.

“Diversity in Organizations,” taught by Professor Maria Triana, equips students with a thorough understanding of the advantages and challenges presented by workplace diversity, suggesting techniques to manage effectively and maximize the benefits of diversity. Students work with diverse groups to create a productive organization in which everyone feels included. The course offers a comprehensive survey of demographic groups and an analysis of their history, allowing students to develop a thorough understanding of the dimensions of diversity. Students engage in discussions about effectively managing diversity on the basis of race, sex, sexual orientation, gender identity, religion, age, ability, national origin, and intersectionality in organizations and about issues various groups face, including discrimination. The course provides practical insight into subconscious/implicit bias and diversity management in the United States and abroad. This is a helpful class for anyone who plans to be a future team member, manager, entrepreneur, or HR professional.

Vanderbilt’s Sue Oldham. Owen photo

We are heightening our focus and progress on continuing the conversation around Diversity & Inclusion. The D&I Advisory Board, chaired by Professor Ranga Ramanujam and made up of volunteer staff, faculty, and students, is now in its third year. D&I at Owen is not one person’s responsibility; we all have a stake in ensuring that our culture is inclusive to all. The creation of a D&I Commitment statement, drafted by the D&I Advisory Board and edited and approved by faculty, students, and staff, has been pivotal in providing an anchor for all to understand our position and commitment as a community. The creation of a D&I Dashboard allows full transparency to count and measure our efforts to persistently move the needle to a more thoughtful and inclusive environment. Our efforts include the faculty, staff, and alumni who make up Vanderbilt Business, as demonstrated by the all-community required reading (generously provided by the school) this past year around Ibram Kendi’s book How To Be An Antiracist.

In other curriculum news, our Operations & Data Analytics Concentration received a STEM designation, affording another opportunity for international students to gain the eligibility to prolong their post-completion Optional Practical Training (OPT) in the U.S. Our Finance Concentration received a STEM designation in 2019.”

P&Q: What is the two most unique or differentiating features of your full-time program? How do they enrich the MBA experience?

Oldham: “The Turner Family Center for Social Ventures (TFC) at Vanderbilt University is an interdisciplinary, student-led organization committed to developing socially and environmentally conscious leaders and doers who are prepared to drive systemic, impactful change through market-driven forces and enterprise.​ Housed at Vanderbilt Business, the Center provides opportunities by leveraging and combining the individual strengths of Vanderbilt University students, faculty, business and community partners. Since the Center’s inception in 2015, all TFC programs have supported the work of cultivating values-driven leaders and entrepreneurs committed to achieving social impact through business. The center is built on the legacy of the student-designed Project Pyramid program, which was initiated in 2006, and placing interdisciplinary student teams on consulting projects with internationally based social enterprises.

The Center puts the power in the hands of interdisciplinary graduate students to drive experiential programming, develop and implement strategy, steward funds, and bring peers along for the ride and alongside in the boardroom. The TFC does not just work with or work for students; we are led by students, and our funder, faculty director, and staff would not have it any other way. Our flagship programming includes: Annual Social Ventures Summit, Social Enterprise Consulting, Owen Board Fellows, Net Impact, Global Hult Prize Case Competition, and Emerging Impact Leaders Fellowship.  The TFC’s programming – from consulting projects to case competitions, coffee chats to community ‘treks’ – all focus on developing students as leaders poised to leverage business and entrepreneurship to drive social change in their lives and careers.

Owen MBA students

This year, the TFC, in conjunction with community service and philanthropy-focused club 100% Owen, launched the Board Fellows program, which pairs full-time MBA students to serve on the boards of local nonprofits in and around Nashville. The program equips selected student Fellows for nonprofit board leadership in their careers and supports partner nonprofit organizations in Middle Tennessee to advance social impact and mission-driven work in the Nashville community.

Another differentiating feature of our full-time program is the flexibility and opportunity we offer students through our curriculum. Vanderbilt Business separates the academic year into four quarters, known as Mods. Each Mod involves seven weeks of classes, followed by a week of exams (for a total of eight weeks). There is a break in between each Mod of at least a week, which allows for short courses, immersion experiences, holidays, and other events.

The degree of choice the Mod system offers is its primary advantage. It permits students to dig deeply in a particular discipline and achieve breadth in the number of courses they take. A student could take a deep dive into finance and still have space in their schedule for courses in HOP (Human and Organization Studies) or Operations.  Students have completed the vast majority of course classes by the end of their second Mod, offering them the opportunity to start taking elective classes during the first year – this is pretty unique to MBA programs. This allows students to gain a breadth of skills needed to prepare for their summer internships after Year One. Year Two of the Vanderbilt Business program coursework is all elective, with the exception of Ethics in Business.”

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