Specialist subjects On management Interview Art meets commerce, How companies Axa chief executive plus going green outgrew countries Henri de Castries FTbusiness education September 17 2012 Masters in management ranking 2012 www.ft.com/business-education/masters2012 contents SEPTEMBER 2012 3 Special reports and supplements editor Michael Skapinker Business education editor Della Bradshaw Editor Hugo Greenhalgh 36 Commissioning editor Jerry Andrews Art director Sheila Jack OPENINGS Designer Derek Westwood 4 from the editor Picture editors What happens to bright young women Michael Crabtree, John Wellings between business schools and boards? Production editor Jearelle Wolhuter TOP 6 upfront Commercial director, EMEA Eastern promise for luxury sector Dominic Good courses; poll – how graduates make Head of B2C 25 online networking work for them Elli Papadaki Head of business education 8 introduction Sarah Montague Pre-experience masters degrees are set REPORT Account managers to multiply as graduate recruiters look Ade Fadare-Chard, Gemma Taylor for “plug-and-play” employees 32 specialist masters: culture Publishing systems manager Degree programmes focusing on Andrea Frias-Andrade 11 meet the dean the business of the arts Advertising production Skema’s Alice Guilhon on the French Daniel Lesar, Daniel Macklin school’s bid to extend its global reach 34 profile Audencia Nantes in France on the cover 12 management column Illustration by Neil Webb A 1,000-year-old mine uncovers some 36 environment truths about modern corporations Business masters courses with a green hue CONTRIBUTORS 14 dean’s column WILLIAM BOULDING is dean of William Boulding of Duke Fuqua on his 38 profile the Fuqua School of Business at unconventionally inspiring parents University of Duke University, North Carolina Edinburgh ANDREW BOUNDS is the FT’s FEATURE Business School north of England correspondent 16 DELLA BRADSHAW is the FT’s 16 interview Plus on ft.com business education editor Henri de Castries, chief Marketing in the CHARLOTTE CLARKE is the executive of insurer social media age FT’s business education online Axa, is French business and social media producer aristocracy. What does ENDINGS SIMON CAULKIN is a he make of today’s management writer young contenders? 41 books SCHEHERAZADE The author who DANESHKHU is the FT’s RANKINGS thinks we should plan Paris correspondent our lives like EMMA JACOBS is assistant 22 analysis businesses editor of FT Business Life Interpreting the data gathered JOHN MURRAY BROWN is the from students and schools for the 43 technology FT’s midlands correspondent Interactive masters in management rankings How to stop data CHRIS NUTTALL is FT rankings and downloading bills technology correspondent more at 24 the rankings taking off as you LAURENT ORTMANS www.ft.com/ Tables of the top 70 schools and how travel abroad is the FT’s business rankings they fared, plus key and top-10 listings education statistician for different assessed criteria 46 hopes ADAM PALIN is an FT business & fears education researcher 28 methodology A student’s quest IAN WYLIE is a freelance How the masters in management to gain a global journalist rankings were researched and compiled perspective 46 PHOTOS: CHARLIE BIBBY; MAGALI COROUGE; ALESSIA PIERDOMENICO FT.COM/BUSINESSEDUCATION from the editor 4 della bradshaw Cherchez la femme ➔ With so many women doing masters in management, why do so few make it to the top? lthough it is the problems in the eurozone Europe’s corporate boards? And is the number of women that continue to grab the headlines, there is on corporate boards the right statistic to measure? another thorny issue facing many European If half those leaving university with an undergradu- companies: how many women they have on ate or masters degree in business and management are atheir corporate boards. It is a debate that Why are there women, is that reflected in the numbers the top corpo- has raged since long before the currency crisis, but 2012 so few women rates take on in their graduate training programmes? If has seen it move from the wish list to the priority list as so, where do they go after the initial training period? European commissioner Viviane Reding threatened a on Europe’s Is there parity between men and women in terms of quota system if corporates did not get their act together. corporate promotion? And what is the pay comparison between Commissioner Reding asked business schools to boards? And equally qualified men and women in the same company supply lists of women whom they considered suitable when they are in their mid to late 20s? Do graduate to sit on corporate boards. Meanwhile in the US, the is this the right recruiters know those figures and understand why differ- Forté Foundation, a consortium that supports women in statistic to ences occur? I suspect not. business, launched a similar scheme in June, asking 33 What is clear, is that somewhere between the enthu- top business schools such as Harvard and MIT Sloan to measure? siasm of young female managers setting out on their supply lists of appropriately qualified women. careers and the disillusionment that accompanies the So far so good. But why are so few fact that so few of them make it to the board, something women making it to the top echelons goes horribly wrong. of the corporate world? And can Of course, the easy answer is to say it is all about the blame somehow be placed at children, especially in countries such as Germany, where the door of business schools? women get up to three years leave per child, or the US, As ever, much of the atten- where paid maternity leave is close to non-existent and tion has focused on MBA women often quit work altogether. For me, this answer is programmes and how just a bit too lazy. Of course there are women who give up few women are on them. careers for a family, but what about all the others? I can’t This is true: only about help feeling that corporate culture is the culprit. one-third of participants Last year, I remember talking to Glenn Hubbard, on full-time MBA pro- dean of Columbia Business School in New York. He said grammes are women. that whenever the faculty proposed a male-only shortlist But here is what I of names for a professorial appointment, he always asked cannot understand. For for the most appropriate women to be included. These those programmes targeted days at least one female professor is always on the list. at younger professionals, Should corporate directors take a leaf out of this busi- such as the 21- or 22-year- ness school book when appointing and promoting the olds on masters in management mostjunior managers? Of course, business schools do (MiM) programmes, the number not have all the answers. There are some areas in which of women is often equal to or higher they are as bad – if not worse – than the than the number of men. In the FT’s 2012 corporate world. rankings, at least half the students on 25 of For although Insead answered the 70 ranked programmes were women. Take Warwick The gender Commissioner Reding’s call to supply Business School in the UK: almost two-thirds (73 per agenda the names of 2,000 female managers cent) of the students on the MiM programme are female, and professors that the school felt were compared with 27 per cent on the full-time MBA. For the latest news ready for corporate boards, only 20 of The figures are replicated across Europe. At HEC Paris, and views affecting its own board of 144 are women – just for example, 45 per cent of MiM students are women, women in business 14 per cent. It is a similar story at MIT compared with 32 per cent on the MBA and 26 per cent education, plus inter- Sloan. Just 19 of the 136 board members on the Trium EMBA run with NYU Stern in New York views, special reports, (also 14 per cent) of Sloan’s advisory and LSE in London, which attracts very senior executives. blogs and video go to: board members are female. While the Given that so many women have committed so early to www.ft.com/business- advisory boards of business schools are a business career, either through undergraduate or mas- education/women packed with corporate suits, I fear the ters level programmes, why are there so few women on programmes they offer will be too. b Photo: ed robinson; illustration: nick lowndes ft.com/BUSineSSedUcation 100 6 The number of nationalities in the FT survey of the class of upfront 2009 ➔ Just how social is employees’ networking? How do you apply for a top French masters in management if you are not French, when locals can use the elite classes preparatoires? Audencia Nantes is the latest of five schools including HEC Paris, to select from an English test, the International Admissions Service ➔ The rise of the masters Evidence that the masters in management programme is gaining in popularity is more than anecdotal. Data from the Graduate Management Admission Council, which administers the Graduate Management Admission Test for business school entry,show the proportion of GMAT score reports sent to non-MBA programmes rose from 22 to 33 per cent over the most recent BLE: BOB HASLETT four-year period. As well as TA mployers beware: an revolution in their workplaces masters in management, FT survey suggests that – 43 per cent of respondents’ masters in finance and while the current employers have their own accounting were particularly generation of young internal platforms – the success popular. The trend is Emanagers have of such initiatives appears strong in Europe, where embraced social media in their limited.