Category Archives: ROI

The TMMBA ROI Series: Part 3

Ally Wewers, TMMBA Recruiting and Admissions Coordinator
ROI

In Posts 1 and 2, there’s already been ample discussion about the ways that TMMBA students and alums calculate their return on their investment. While we conclude today with three final categories to the TMMBA ROI, it’s safe to say there are still many components to add to this conversation:

Powerful Network

The TMMBA alumni network is truly one of the greatest assets of the program. With close to 800 TMMBA graduates, it is a diverse community that represents a variety of industries, functions, and companies. Additionally, the larger Foster School network connects more than 50,000 business professionals – creating a huge presence in the Puget Sound region and beyond.

 So how do TMMBA alums relate network to ROI? For many, the value comes from the exposure and access to new contacts, companies, and most importantly – opportunities. As alumnus Kevin Croy (TMMBA ’12) can attest, “The caliber of people on your team and the network you’re exposed to directly impacts your career.” Through an introduction from one of his TMMBA teammates, Kevin met his current business partner, leading to the development of 9MileLabs, a Seattle based high-tech accelerator.

 Another value of the TMMBA network is that it never stops growing. With each new cohort, the TMMBA community expands and provides access to more support, resources, and connections. “My network has exploded almost exponentially” remarks student Chris Zilich. “The connections I’ve made via my team and other classmates have been invaluable.”

 Personal Growth

Can you put a price on confidence? How about personal development and leadership skills? TMMBA alumnus Ameya Bhatawdekar (TMMBA ’10) explains that “it’s hard to put a dollar value on the measurement of ROI. But my most important indicator is knowing that I’m a different person today for having completed the program.”

 While the TMMBA program offers a comprehensive business curriculum, the learning in the program goes beyond business concepts, calculations, and frameworks. Emphasis on strategic decision making, effective leadership, and innovation challenge the individual and change their ways of thinking. 100% of recently surveyed TMMBA alumni cited an increase in confidence as a result of the program. Coupled with increased self-awareness, time management skills, and a sense of accomplishment, the return for the individual is unparalleled.

 Convenience

While it’s not a typical return, the convenience, support and services that the TMMBA program provides helps some students substantiate part of their investment decision. Many alums point to the convenient Eastside location- there’s less time and money spent commuting to class (especially in comparison to other non-local MBA programs). The 18-month program and work-compatible schedule also allow students to continue their current careers – without having to forfeit years of income and career experience to pursue their degree.

By providing textbooks, electronic course materials, registration services and more, students can focus on homework or family time, not worrying about the logistics of classes. Similarly, catered meals on class days allow students to come  from work and network with classmates over dinner – or finish up on last minute homework. As alums have noted– everything about the program is designed to make students as successful as possible.

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With the variety of topics that we’ve covered in these last few posts, it’s obvious that the ROI for TMMBA students is multifaceted. From network to rankings, salary increases to personal growth, every TMMBA student and alum calculates their return in their own way.  We’ve started the discussion – now how will you calculate the ROI for your own MBA?

Missed a post? Catch up!  Part 1 | Part 2 | Part 3

The TMMBA ROI Series: Part 2

Ally Wewers, TMMBA Admissions & Recruiting CoordinatorROI

Last week’s post addressed a few of the many ways that TMMBA students and alumni calculate the return on investment for their MBA experience. The discussion today centers around three additional consideration points- salary growth, career progression, and the lifelong resources of the TMMBA program.

Salary Growth

Compensation increase is often the focus of ROI conversations given that it’s easily quantified. While  sole emphasis should not be placed on an MBA’s monetary value, it is still an important piece to the ROI puzzle.

TMMBA graduates continue to see considerable return for their initial investments. As knowledge and skills grow from an MBA program, pay raises often follow as employers see the benefits of the education.  In fact, in a survey of TMMBA alumni two years post-graduation, 95% of respondents reported an increase in salary – with an average increase of over 20%.

Career Advancement

Oftentimes, career growth goes hand-in-hand with salary increases. Whether students are looking for promotions, functional changes, or to start their own companies, TMMBA helps to advance the timeline for these goals.

“When I think of the next levels I wanted to achieve in my career, TMMBA significantly accelerated my ability to achieve those milestones. In the classroom, I learned concepts that could take years to grasp on-the-job,” remarks alumnus Jeremy Hutton (TMMBA ’13).

With a relevant business curriculum incorporating technology, innovation, and professional development, TMMBA students find that their MBA is a competitive advantage in the market. For those looking to move up, an MBA opens to door to greater responsibility and management roles. Some TMMBA students are hoping to change functions or industries – and upon graduation are more qualified to pursue outside opportunities. Entrepreneurs can also improve future success when equipped with knowledge and resources from the program.

Lifelong Resources

Speaking of resources, it’s important to note that the benefits of the TMMBA program don’t end upon graduation. TMMBA alumni still have access to workshops, guest speakers, networking events, career coaching – even classes. Whether it’s a new course that’s been added or a subject that needs refreshing, many alums take advantage of class audits and lifetime learning.

TMMBA Career Services adds notable value for both students and alumni. From resume workshops and panel discussions to 1:1 coaching and Career Mixers, there are plenty of ways to leverage TMMBA career resources.

Given these potential value propositions of an MBA, it’s still up to students to leverage their education and capitalize on growth. As Jeremy can attest, “It’s never going to be less expensive to get an MBA than today. The return starts immediately – as soon as you learn the concepts in class and start applying them. Take advantage of the opportunity.”

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Missed a post? Catch up!  Part 1 | Part 2 | Part 3

The TMMBA ROI Series: Part 1

Ally Wewers, TMMBA Admissions & Recruiting CoordinatorROI

Return on Investment (ROI) for an MBA degree is a common topic when talking with TMMBA students and alumni. Whether they measure their return in dollars or more intangible assets, it’s clear that the UW Foster TMMBA program provides substantial value for graduates.

Over the coming weeks, we’ll look at some of the various benefits that TMMBA students and alumni use when measuring the value of their Foster MBA degree. As you’ll see, there are many elements to consider in this calculation.

Immediate Value

From day one of Immersion Week to the last Capstone course, TMMBA students experience the real-time ROI of their newly gained business knowledge.

“My ROI becomes visible as I begin to apply my learning directly to my work,” remarks Padmaja Vrudhula, who will graduate in June 2014. For Padmaja, the immediate relevance of TMMBA’s curriculum was clear when she was exposed to different cost comparison concepts from TMMBA professor Lance Young. When she applied these concepts at work, the change in approach to valuations saved her client roughly twenty million dollars.

Like Padmaja, the majority of TMMBA students work full time, and they are encouraged to bring workplace experiences and examples into the classroom. Students are then prepared to apply solutions at work the next day – earning immediate dividends the moment they begin classes.

A Highly Respected MBA

Ranking institutions (including U.S. News & World Report, Businessweek, and Forbes) consistently recognize The UW Foster School for the strength of its graduate programs and success as a school. While rankings don’t always complete the picture, our alumni acknowledge that it does sometimes play a factor in their MBA investment decision.

Kevin Croy (TMMBA 2012) explains “We are so fortunate to have such a prestigious and well-respected research university in our backyard. I’m proud to be associated with the UW and the Foster School of Business.”

With brand recognition across the U.S. and beyond, an MBA from the Foster School of Business ensures that your credentials will hold value and be well-recognized. TMMBA students realize the benefit of being able to attend a top-tier institution without leaving their hometown.  In addition, the TMMBA program itself has developed a strong reputation since admitting its first class 13 years ago.

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 Our next post (Part 2) features alumni perspectives on how career and salary growth factor into TMMBA ROI calculations. Also, take a look at these videos from TMMBA ROI panel discussions.

Missed a post? Catch up!  Part 1 | Part 2 | Part 3

Don’t be a Paper MBA

By David Lam, TMMBA Alumnus, Class of 2013

Don’t be a Paper MBA: Attend a Tech @The Top, career networking, or professional development event

Do you want to be a stronger business leader or is your choice to be a Paper MBA?  The TMMBA program has nearly monthly events that can help you stay relevant and are often invaluable opportunities to get connected to recognized business leaders.

Get Connected

Whether you are still in the classroom or have since graduated, opportunities to connect to recognized successful business leaders are invaluable. Interested in an insider’s account of established internationally recognized companies or perhaps prefer hearing about the local startup scene? The TMMBA program has an excellent variety across that spectrum from Walt Disney and Yahoo to WetPaint and LiquidPlanner. Thinking about partnering or career opportunities with a local company or subsidiary? Attending these events can really boost your network beyond what would normally be available to you. Cold-calling the CEO is very different to following up an earlier exchange at a recent TMMBA event.

Stay Relevant

I worked in Japan for a decade and had to be especially wary of ‘paper drivers’, particularly as a motorcycle was my primary way of commuting. This is a well-known phenomenon in Japan and refers to those who have received a license to drive but, since becoming certified, either had not or have very rarely actually gotten behind the wheel. My personal experience of passing the practical driving test in Japan was specific to a motorcycle license but it was an extremely grueling not to mention expensive process. Despite passing this very difficult practical driving test however, those who did not practice their new-found skills were really certified drivers on paper only. On the rare occasion when they do drive (and often long after passing the practical exams), these paper drivers were a danger to both themselves and others around them.

MBA graduates (and current students) have a similar risk.  Granted, the risk to life and limb for MBA graduates who do not continue to develop themselves is less than that of a paper driver, but the hard-won skills learnt in the classroom can also quickly deteriorate.  Graduating with an MBA is a grueling process that begins even before entering the classroom. From the GMAT and overall application process thru to the many, many months of countdown towards that blessed graduation date. It is clearly a significant investment in time and money. In choosing to undertake an MBA, is your goal to become certified on paper only and go no further to develop as a stronger business leader?

Attending the TMMBA events or workshops are an opportunity to learn from current and real-world applicable lessons. Often the talks are surprisingly open with many insights that can be gained, and are never dry case studies.

Avoid the risk of becoming a Paper MBA; continue to develop your business skills, stay relevant and get connected. Subscribe to the calendar at: http://www.foster.washington.edu/academic/tmmba/Pages/Tech-at-the-Top.aspx.

Other relevant events at: http://www.foster.washington.edu/academic/tmmba/pages/cal.aspx

Hope to see you at the next Tech @the Top or career networking night!

The TMMBA ROI

Sara Jones, Associate Director and 2012 alumna

Are you wondering if you’ll get enough return on your MBA investment to make the sacrifice worth it?  ROI can be measured in many ways—new career options, the value of the network, a sense of security, compensation and more.

So, what is the TMMBA ROI?

Last month we surveyed alumni who graduated from the program two years ago. The responses are still coming in, but here’s a sneak peak at some of the data so far:

  • 24 months after graduation, most respondents so far have said they made a career change
    • 38% changed functional disciplines
    • 48% moved up vertically
    • 5% started their own company
  • 100% are more confident in their business skills and abilities
  • 90% have increased their strategic business responsibilities
  • 67% have greater budget responsibility
  • Almost all respondents have seen an increase in salary, with an average increase over 20%

Stay tuned in the coming weeks for complete results of the alumni ROI survey. 

In the meantime, I encourage you to talk directly with our alums or attend tomorrow’s panel discussion on the TMMBA ROI.  The panel is made up of three alums and one student who will share more about their return on investment from the TMMBA Program.

The TMMBA ROI: a candid conversation with TMMBA alumni  & students

Thursday, August 8
6:00 – 8:00 pm
Eastside Executive Center, Kirkland
RSVP

Panelists:
Ameya Bhatawdekar, Founder of Nuubuu
Kevin Croy, Partner at 9Mile Labs
Jeremy Hutton, Associate at Point B Consulting
Padmaja Vrudhula, Strategist at VMWare

An MBA… makes you happier?

Ally Wewers, TMMBA Program Coordinator

Despite taking a “Philosophy of Happiness” class in my undergraduate years, I definitely would not consider myself an expert on the subject (philosophy OR happiness). But a recent article on Forbes.com caught my attention, claiming that (gasp) happiness is the newest benefit of an MBA degree.

I know what you’re thinking- everyone expects salary raises, increased confidence, or a larger network post-MBA. But an increase in happiness? Not the end-result I imagined.

In the article describing the MBA Happiness Index 2013, the organization MBA50 asked 1,108 participants from business schools around the world to evaluate their happiness levels 12 months before their MBA, during their MBA, and post-MBA. Here are the results:

Though their survey may not be the most scientifically valid study conducted, it still brings to light some interesting data about MBA graduates. With happiness being such a relative term, you do have to take any data with a grain of salt. Beyond the numbers though, it’s intriguing to evaluate why MBA degree holders might report elevated levels of happiness. For this question, I agree with the survey’s authors. They cite that common studies on happiness have come to the consensus that ” ‘meaning’ (or values, or community, or empathy, or engagement with the public good) correlate strongly with peoples’ reported happiness”. So, consequently, people must be finding meaning during and after their MBA. Happiness is different for everyone, and therefore “meaning” is also different for everyone. Maybe one student finds meaning in the Ethics curriculum, and is able to effectively apply it to his/her job. Maybe one student finds meaning in being productive and accomplishing a goal, and receiving a diploma. Maybe another graduate finds meaning in the network and community that they’ve built over the course of their program.

For all you skeptics who say that happiness for MBA grads comes from the higher salary or finally an end to the nights of endless statistics problems, sure- I imagine there’s a bit of truth to that. But the same study also asked respondents which aspect of the MBA program made them happiest. Coming in at #1, was “Self-Development”, with 42.2% of the answers. “Financial Reward” on the other hand, only clocked in with 2.7%.

While I don’t plan on conducting a happiness survey of my own anytime soon, I think it’s definitely a topic worth bringing up in conversations with TMMBA Students. Granted- with less than one month to go til Graduation for the Class of 2013, I’m sure the responses may be a bit skewed….

In conclusion, I’ll close with a quote from my “Philosophy of Happiness” Class (Professor Alfino would be so proud…). Fittingly, it comes from Aristotle, who said “Happiness depends upon ourselves”. In that sense, I think connecting an MBA to a personal journey of self-fulfillment and happiness is quite fitting. Of course we’ll let our students and alums be the judges.

New benefits for TMMBA students and alums!

Sara Jones, TMMBA Assistant Director

The Washington Technology Industry Association (WTIA) is one of the largest statewide tech trade associations in North America, and we’re it’s newest member!  What does this mean for you? Through the TMMBA WTIA membership our students and alumni now have access to their wide mix of member benefits, including:

  • Free and discounted attendance at WTIA events
  • Access to the WTIA network (800 member companies and 100,000 tech workers statewide)
  • 13 community and special interest groups to join
  • Access to online WTIA Job Center
  • Discounts through WTIA Marketplace (health benefits, human resources, 401K, computer equipment, personal insurance, and more)

TMMBA + Seattle 2.0 Startup Day = winning combination for entrepreneurs!

Written by:  Tracy Gojdics, Director & 2007 TMMBA alumnus

The UW Foster Technology Management MBA Program (TMMBA) is a premier sponsor for the 2012 Seattle 2.0 Startup Day on September 22 at the Meydenbauer Center in Bellevue.  In fact, this is the third year we will have a presence at this one-of-kind conference designed to inspire, inform and bring together budding entrepreneurs as well as veteran entrepreneurs.

Why do we like to sponsor this event? 

  • We have a growing student and alumni network full of entrepreneurs.
  • 50+% of  TMMBA applicants want to start their own company.
  • Aligns with our mission to educate, inspire and support the aspirations of our TMMBA community.
  • We are fans of Geekwire!

I often get asked, “Does an entrepreneur really need an MBA?”   The answer is “it depends.”  It depends on business knowledge and experience, the kinds of issues and business problems one has been exposed to (and tried to solve!) and how deeply one understands strategy, microeconomic and macroeconomic factors, finance and market risk.  For some they will have a solid understanding of all of these areas, but the vast majority of people do not – this is when a well-rounded MBA experience is an asset worth having.  The time and investment of an MBA is small when compared to the great ROI with the ability to achieve a dream – strategically and intelligently!

TMMBA has the honor introducing the following speakers at the conference:

Adam Tratt – CEO, Giant Thinkwell / HaikuDeck (10am)
Brenda Spoonemore, Co-founder and CEO Dwellable  (3:25pm)

Here is a complete list of speakers and activities for the 2012 Seattle 2.0 Startup Day.  We will have a booth there as well – stop by to say hi to Ally and Tina. As always, we look forward to seeing TMMBA students and alumni at the event and meeting new and interesting people!

Takeaways from Pitch, Don’t Spin: How to Create Buzz Around your Start-up

Rae Wang, TMMBA Class of 2003

TMMBA sponsored an MIT Enterprise Forum Northwest entrepreneur meet up last night, the topic was Pitch Don’t Spin.  I was very excited that the TMMBA program reached out to the community to connect with other tech enthusiasts, meanwhile making such events available us, the alums, to attend.  I have a two years old startup and customer acquisition through new media is always on my marketing agenda, so this topic caught my interest right away.

The panel consisted of the co-founder of GeekWire, Founder of Newsvine, editor of Seattle Business Magazine, Seattle Times Technology Columnist, and the senior editor of Xconomy.  They gave us a wide range of opinions on how to approach media in this new media age. General challenges in the tech media today are:

  • Too much information is flowing around
  • A lot of people are writing
  • New media and old media provide a lot of choices for entrepreneurs, it can get overwhelming

The panel presented very interesting points and suggestions on how tech entrepreneurs can effectively tackle these challenges:

  • Be authentic, be honest, and be yourself
  • Sell your true story not your credentials
  • Have a story: just because you have an app, it does not mean you have an interesting story
  • Explain your technology in layman terms
  • Get the reporters interested in you
  • Know your audience and use the correct channel to pitch: no need to do Twitter etc if nobody reads it
  • Get your interesting nuggets of news prepared ahead of time before meeting the press
  • Rethink press release and don’t be afraid to use new media, such as emails

If you would like to learn more about this event, my fellow note taker over at fireundereverybutt.com posted a visual note from the event. Check it out at http://fireundereverybutt.com/visual-note-taking/.

How do you keep up with technology and business events?

Jared McInelly, TMMBA Class 11

Everyone is very busy.  There are so many demands on our time, work, family, school, etc.  I’ve found that school has taken all of my leisurely browsing-the-web-to-keep-up-on-technology time.  So, I have to boil things down to a few key resources.  Here are the things I use to keep up on technology and business issues along with a short description of each.

Podcasts

I love podcasts.  By subscribing to them in iTunes, new updates are downloaded to my iPhone automatically.  I have an FM transmitter that allows me to listen to them on my car radio while driving around in the wonderful Seattle traffic.  Here are my favorites.  All of these can be subscribed to in iTunes by searching for them by name.  (Sorry Andriod users, I have not joined your secret society and so I don’t know how to help you get these).

Entrepreneurial Thought Leaders Series.  Stanford University.  This is a weekly (during the school year) speaking event open to Stanford students.  They record it and post the talks online.  This is one of my favorite podcasts to listen to.  Because it’s Stanford, they get some of the best speakers from some of the most interesting companies in the world.

TWIT:  This week in technology.  Leo Laporte is the moderator with a panel that changes weekly.  They discuss the tech news of the week.  This is a great way to find out what is new and upcoming.  Plus, there are some great personalities in the group (and some consistently grumpy ones).

HBR IdeaCast.  This is a 20 minute interview with the author of one of the main articles for the week’s Harvard Business Review.  Very insightful and a quick and easy way to get the point of the article without having to read it.

Business Week – Behind This Week’s Cover Story.  Similar to the HBR IdeaCast, this is a short interview with the author of the latest Business Week cover story.

Manager Tools.  I don’t know where these guys came from but they are pretty good.  They discuss, sometimes in painstaking detail, specific, actionable tools you can use as managers.  My favorite Manager Tools podcast was the one that had 17 steps to remember for a perfect handshake.  I don’t bother trying to remember all of their items but I do find the overall point of each podcast very helpful.

RadioLab.  If you like science, even a little bit, you’ll love this podcast.  I look forward to a new episode of Radiolab like I look forward to Christmas.  Yes, I’m a geek.

Websites:

Geekwire.  This is a site founded in Seattle to cover the tech beat in the Seattle area.  These guys are good.  They also have a podcast but it tends to be boring.

Google News:

I set up alerts on topics I care about and check it on occasion.  I include on this list all of the blogs that I like to read.  That way I get to see them all at once and it’s easy to tell if they have a new update.  Which is much better than checking them all individually.

I’m interested in what you have found helpful, please respond in the comments if you know of a good site, podcast, etc. that you use to keep up on the latest business ideas and technology.