Poets&Quants for Undergrads, a leading online publication for undergraduate business news, unveiled its fifth annual Best Undergraduate Business Schools 2021 rankings.
Seattle University’s Albers School of Business and Economics was ranked second in the Pacific Northwest and third on the West Coast. It also rose to #62 nationally. In 2020, it ranked #76 in the US.
‘This year’s ranking assesses three core values of an undergraduate business education: the quality of the admits, what a school does to grow those students over four years, and finally how the marketplace responds to those graduates,’ said Nathan Allen, Project Manager, Poets&Quants for Undergrads. ‘In other words, what’s the quality of the incoming students, how do they view their academic experience, and what career outcomes are achieved by the graduating class.’
Poets&Quants for Undergrads compiled the 2021 rankings based on a representative survey of over 6,100 alumni and school-reported data. Recent grads across 93 schools were surveyed on aspects of faculty availability, extracurricular opportunities, and accessibility of the alumni network.
Albers has a 93% placement rate for its undergraduate Class of 2019. More information about the #1 business school in the West can be found at the undergraduate section of the Albers site.
Last April, Albers announced that the Graduate Record Examinations (GRE) and graduate management admission test (GMAT) requirements will be optional for anyone applying to a non-law graduate program in the 2020-21 academic year.
We're happy to share that the policy has been extended through Fall 2021. The application fee of $55 has also been waived for the same period.
Applicants are still encouraged to submit a GMAT or GRE when possible. Choosing to include these scores can make applications more competitive and gives the admissions team more information about applicants.
Albers retains the right to recommend submitting a GMAT or GRE score on a case-by-case basis, in order to assist in the admissions decisions process. The GMAT/GRE will also still be required for applicants who have the equivalent of an international three-year degree or who received ungraded transcripts during their undergraduate degree.
Educational Testing Service (ETS), owner and administrator of the GRE, has confirmed that the GRE General Test at Home is available everywhere that the computer-delivered GRE General Test is normally available, with the exception of Mainland China and Iran. This GRE is a proctored online version of the test, administered in a test user's home.
Test centers are reopening in Mainland China and Iran, as well as other countries. Additional information about this new test option and updates on testing center closures, postponements, and rescheduling are available on the ETS website's COVID-19 page.
The Graduate Management Admission Council (GMAC) that conducts the GMAT offers appointment times for the GMAT Online exam, an interim alternative to the test center GMAT, 24 hours a day, seven days a week.
The GMAT Online exam is available in most locations, with the exception of Mainland China, Cuba, Iran, North Korea, and Sudan due to regulatory and local data privacy rules. Currently, proctoring support for the exam is only offered in English.
More information is available on GMAC's online GMAT web page.
For any questions on the extended policy, please email Graduate Admissions.
Albers students never cease to inspire, and Seth Chism is one of them. After graduating this year with a Business Analytics degree, Chism will be teaching at his high school alma mater, Seattle Preparatory High School. His post on Instagram caught attention for its caption: ‘I realize that this degree is BIGGER THAN ME’. Below, he tells the story behind it.
I was born in Oakland, California, then my family moved up here to Washington. I have an identical twin brother, an older brother, and my mom and dad. I went to Seattle Prep for four years after getting a track scholarship.
After graduating, I went to St. Martin’s University which is in Lacey, Washington. I went there for two years and it was really hard there. In my freshman year, I broke my leg and missed most of the season. It was sad, not being able to do something that I used as an escape or a way to focus and forget about things.
In my sophomore year, I came back [to track] and it was hard. I just wasn’t the same person. It was hard getting in shape. A lot of my friends transferred out and I felt like I was stuck on an island for a whole year. It was pretty rough.
And then I talked to a few coaches at Seattle U and transferred over. I practiced with them for a little bit and ended up getting cut from the team.
I was pretty upset about it at first because I was like, wow, this all I have ever done. It’s like my identity. What else am I going to do? I’m at a new place where I don’t really know anyone else.
And I was thinking, oh I made a mistake. I must’ve made a mistake coming here, blah blah.
All that was probably the best thing that happened to me because I don’t think, voluntarily, that I would have stopped doing things that were holding me back. There was work that I needed to be doing and I was neglecting a lot of other areas of my life.
Being at SU taught me so much. It’s a hard school. It taught me a lot about being a man and figuring out stuff independently, trying to work through adversity, and handling things that I just was never asked to do before.
It was an awesome experience and everyone was so welcoming to me. No one ever hesitated to help me out. And you know what? I needed to put my foot forward, too, not do things by halves. I needed to allow people to help me out and allow them to get to know me, which I did.
I’m very independent and hate asking for help. I would rather flunk a class before I ask someone for help. And I realized that’s a bad mentality to have -- no one does anything on their own.
Both my parents [pictured above, with his brother] went to college. My grandfather on my mom’s side, William Reed Tucker [photo below], was really, really smart and would’ve liked to have been an engineer. But he was an orphan – he had lost both parents by the age of six -- and poor. He graduated from high school and never got the opportunity to go to college. Instead of being an engineer, he fixed engines in the military instead.
It was just like a different time back then. You think about how much money he missed out on or how many opportunities he missed out on because no one told him that he could do what he wanted to do.
My parents would tell me stuff about when they were in school, and how counselors would come up to them and be, oh you shouldn’t do this or that. My mom’s an RN (registered nurse). A counselor once said to her, no, I don’t think that’s something you’d be good at. You should do social work or something else.
Being Black, sometimes, people will overlook you and underestimate you and try to put you in boxes before you can go out and show that you can do something. It’s constantly having to prove yourself sometimes.
Not all people are like this, my parents have always taught me. But you need to be on guard and pay attention. A lot of the things they faced when they were growing up and trying to start their careers, I’m getting to know.
I’ve been spoiled. I have had some adversity, but I would say, honestly -- I’m very privileged because my parents set me up for so much success. There are a lot of things I didn’t have to experience that others in my family have had to experience. They worked incredibly hard for me and put me in the best position to succeed. It was up to me to follow through.
And that’s why it’s a huge deal to me because none of this would’ve been possible without what they did before me. They had a harder time getting to the table and getting a seat at the table when they were growing up in that era. It makes me feel very grateful that I’m even able to be where I’m at now and not to take it for granted either because as quick as I got it, it can be gone the next day.
Seattle Prep has a program called the Alumni Service Corps where, every year, they hire alumni who’ve just graduated from college to teach for a year. It’s like a year of service, an opportunity to give back to the school.
My dad mentioned it to me in December and I thought, you know, let’s be proactive and see where this goes. I spent most of the year not knowing what I wanted to do job-wise after graduation.
[Teaching] would be a great opportunity to take a year off just to figure it out. Work hard. Give back to the school. Work my tail off. And use that year as a transition period to figure it out.
I want to work somewhere where I feel I’m contributing to something greater than just a profit margin. I want to work where I feel I’m making an impact and have a voice in the company.
I want to be where I feel I have purpose.
To have that mentality of going through life, going to school, and staying positive is huge for people who look like me because that’s not the mindset that people like me have. A lot of kids grow up already defeated. They grew up already hearing as kids, oh no, you’re already Black, life could be hard for you. It’s going to be challenging for you.
But it shouldn’t just be the reason that you can’t make anything better. A lot of kids just grow up discouraged and without any hope. I want these kids to know that anything’s possible. You’ve got to put the work in there and not let people -- even family members -- discourage you. Family members will sometimes discourage you more than people outside of your own home.
You really need to filter the things that go into your mind, stay positive, and keep that mindset moving forward. It’s a lot easier said than done, obviously. But just stay positive. Keep your inner circle full of people with that mentality, people who are also positive and pushing you in the right direction.
And you’ll see that anything is truly possible.
Follow Seth Chism on Instagram at @the_great_schism.
One hundred forty-four years of data -- from 1876 to 2016 -- show that when a Democrat is in the White House, the economy tends to grow faster and stock prices also tend to rise faster. When Republicans are Presidents, consumer prices are lower.
This is just one of the many findings in a study by Werner De Bondt, Visiting Professor, Finance, and Thomas F. Gleed Endowed Chair of Business Administration for 2019-2020. De Bondt, a co-founder of the field of behavioral finance, studies the psychology of investors and financial markets.
De Bondt covers this comparison and more in Predictable Irrationality, the second in the Albers Deep Dive series of videos. Recorded exclusively for YouTube, the series comprises 30- to 45-minute slideshows presented by Albers faculty and subject matter experts.
De Bondt's research shows that macro-economic and capital market expectations play a key role in financial decision-making. The expertise of professional economic forecasters, he has found, is surprisingly limited. Thorough analysis of thousands of six- and 12-month forecasts of the Standard & Poor's 500 Index, from 1952 t0 2019, shows predictable bias.
According to De Bondt, 'Expert projections are poor because financial market developments are inherently capricious; because professional experts commonly promote themselves as “perma-bulls” or “perma-bears”; and because many economists are unjustifiably over-confident in their power to foresee the future.'
With 2020 being an election year, De Bondt analyzed economic performance under President Donald Trump:
Will the above get him re-elected in November? De Bondt says the COVID-19 pandemic is ‘the main imponderable factor’. His studies show that it’s not stock market performance over the full four years that matters, but the last 18 months.
Image: President Gerald Ford and Jimmy Carter meet at the Walnut Street Theater in Philadelphia to debate domestic policy in September 1976. Photo by David Hume Kennerly.
Here in the United States of America, we are all living under a deeply disturbing cloud.
Its origins go far back, but it has grown more ominous with the onset of the COVID-19 crisis, and more troubling with the tragic and unacceptable death of George Floyd and other Black Americans.
Racism is real. And while it affects many people, it is a particular burden for the Black community, and that is as apparent now as it has ever been.
All the data clearly show that COVID-19 has had a disproportionate impact on Black Americans, and then add to that the killing of George Floyd, Ahmaud Arbery, Breonna Taylor, and far too many others.
The injustice of racism is not just an issue for our university, it is also one for our business school. It is an issue we may cautiously have acknowledged in the past, but not one that we have truly taken on.
Of course we must support our students who experience racism, and at the end of the day, only they can say if we have.
But we also have to make the challenges of racism in our society part of the educational experience for all our students. It has to be in the curriculum in an intentional and systematic way.
We are not doing that as of now. Some business courses and some business faculty may expose some business students to how systemic racism influences business systems, policies, and operations, but it is not happening for all business students.
That needs to change, and making that change is staying true to the legacy of Jesuit education and the history of Seattle University. Albers will make this a priority over the next year and beyond.
We cannot allow the uncertainty of COVID-19 to distract us from that effort. However we emerge on the other side of the pandemic, it will only have been worth it if we can say we are taking on the issue of racism in our society.
These are troubling times and the emotional toll is too high for many of us. We must support those suffering injustice and commit ourselves not only to acknowledging change is needed, but to ensuring change happens.
I invite all students, faculty and staff to join with me as Albers addresses the issue of racial justice.
Joseph M. Phillips
Dean, Albers School of Business and Economics
In response to COVID-19, the Albers Summer Business Institute (SBI) has been moved to an online platform for Summer 2020. Applications are being accepted until May 30, 2020. The program will run from July 5 to July 10, 2020.
SBI provides rising high school sophomores, juniors, and seniors an introduction to business through a program focused on social entrepreneurship. Young scholars learn the foundations of marketing, data visualization, business law, management, economics, and accounting while gaining exposure to being a student at Seattle University. Throughout the week, student teams develop a social venture and pitch it to a panel of investors.
Participants will be able to connect with like-minded young leaders from across the country during the program. Students can choose to participate in a one-week, two-week, or three-week experience which includes both hard (e.g. technical) and soft (e.g. leadership) skills. Students earn two college credits for completing SBI.
With the move to a digital platform, SBI can now accommodate more than 120 student seats. Tuition costs $450 with a deposit of $50 if accepted into the program.
Seattle University plans to provide full scholarships to at least 50% of the student participants. The criteria that will be used for determining scholarship eligibility are:
More details about the Albers Summer Business Institute, FAQs, and the application process, visit the SBI page. Questions can also be emailed to email@example.com.
For prospective students navigating graduate application during the COVID-19 pandemic, the Graduate Record Examinations (GRE) and graduate management admission test (GMAT) requirements will now be optional for anyone applying to a non-law graduate program in the 2020-21 academic year.
Applicants are still encouraged to submit a GMAT or GRE when possible. Choosing to include these scores can make applications more competitive and gives the admissions team more information about applicants.
Albers retains the right to recommend submitting a GMAT or GRE score on a case-by-case basis, in order to assist in the admissions decisions process.
Testing agencies are working to provide alternatives to site-based testing. The latest information is below and will be updated as situations change.
Educational Testing Service (ETS), owner and administrator of the GRE, launched the GRE General Test at Home in most areas except mainland China and Iran with plans to expand to these markets.
This GRE will be a proctored online version of the test, administered in a test user's home. Additional information about this new test option and updates on testing center closures, postponements, and rescheduling are available on the ETS website's COVID-19 page.
The Graduate Management Admission Council (GMAC) that conducts the GMAT has opened up registrations for the GMAT Online exam, an interim alternative to the test center GMAT.
Appointments are available for test dates as early as April 20, 2020, and extend through June 15, 2020. Candidates can schedule appointment times 24 hours a day, seven days a week, allowing for greater flexibility during an evolving situation.
More information is available on GMAC's online GMAT web page.
Seattle University's Graduate Admissions team will be auditing its files and reaching out to current and potential applicants regarding these changes. Please contact your Graduate Admissions Counselor or email Graduate Admissions to discuss the new policy and how it relates to your application.
17 March, 2020, WA - Albers' Executive MBA and graduate programs in Accounting and Business Analytics were ranked in the top 25 across the country in the 2021 U.S. News Best Graduate Schools Rankings, which were released today.
In the West Coast, Analytics was tied for third, Executive MBA came in 4th, while Accounting was tied for 4th place.
Each year, U.S. News ranks professional school programs in business, education, engineering, law, medicine, and nursing, including specialties in each area.
The Best Graduate Schools rankings are based on two types of data: Expert opinions about program excellence and statistical indicators that measure the quality of a school's faculty, research, and students.
Albers' Executive MBA and Online MBA were ranked #78 and #57, respectively, in the recently released 2020 Global MBA Rankings of CEO Magazine.
CEO Magazine has been showcasing top business schools from around the globe since it first launched in 2008. In 2012, the publication launched its annual Global MBA Rankings, profiling MBA, Executive MBA, and Online MBA programs.
This year, CEO Magazine reached out to business schools across North America, Europe, Australia, New Zealand, and the BRICS (Brazil, Russia, India, and China), and received data from 161 schools, offering 303 different programs in 27 countries (77 online, 87 EMBA, and 139 full-time and part-time MBA programs).
The complete rankings can be viewed in the latest edition of CEO Magazine, or CEO Magazine online.
Albers welcomed back Costco founder Jim Sinegal who flew in from California on March 2 to do a guest lecture at Associate Professor Rubina Mahsud's International Business class.
Sinegal regaled the class with the story of how he started the retail giant with his partner, Jeffrey Brotman, highlighting the original business plan they created in 1983. Reflecting on Costco's track record, he spoke about how their 'fantastic employees' were an integral part of the company, and a key strength in its continued success. He also shared Costco's core values, which are:
Mahsud later gifted Sinegal with an Arjac shawl from the ancient city of Multan, Pakistan. The pattern is block printed by artisans using 3,000 year-old designs. Sinegal proceeded to wear it in the group photo above, taken by student Jaidev Vella.
Maneet Gohil, CEO and co-founder of Indian artisan e-commerce portal Lal10, has been chosen as the 2020 Seattle University Entrepreneur in Residence. The program is a collaborative effort between the Albers School and Upaya Social Ventures.
New Delhi-based Gohil was included in Forbes India's '30 Under 30' list in 2019, and he has also spoken at TedX. Read more about Gohil and the Entrepreneur in Residence program in our Global Business program section.
Pivots are challenging for any business, but they can also be incredible learning opportunities.
Manny Medina, CEO of sales engagement platform Outreach, recounted at the last Executive Speaker Series on February 22 how the company successfully navigated its pivot six years ago and grew the business into what is now a $1.1 billion unicorn.
Originally a recruitment platform, Outreach segued into a business that manages all customer interactions across email, voice, and social, and leverages machine learning to guide reps to take the right actions. Read more about Medina's insights from the pivot on the Dean's Blog.
The next Albers Executive Speaker Series guest on Wednesday, April 22, is John Burke, CEO of Trek Bikes. The event is free and open to the public.
Claus C. Portner, PhD, Albers' Associate Professor for Economics and the current holder of the Robert D. O'Brien Chair of Business, has been selected as the Howard J. Bosanko Professor of International Economics and Finance for 2020-23.
Portner teachers courses in statistics, micro-economics, and international economic development. His research has been international in scope, and he will use the professorship to sharpen his teaching and research focus on sub-Saharan Africa. His publications have appeared in distinguished outlets such as Demography, Economic Development and Cultural Change, the Journal of Development Economics, and the Review of Economics and Statistics.
Management professor Jennifer Marrone, PhD, has been selected for the George Albers Professorship for 2020-23.
Marrone is well known as an outstanding teacher at both the undergraduate and graduate levels. In scholarship, she has published in some of the top journals in her field, such as the Academy of Management Journal, Journal of Management, and Group and Organization Management. She has also co-authored several articles with students and has nearly 3,000 citations of her work.
Albers alumnus Leo Hindery, Jr. is one of 25 business school graduates honored by AACSB International (AACSB), the world's largest business education alliance, as the 2020 Class of Influential Leaders.
The annual challenge recognizes notable alumni from AACSB-accredited schools whose inspiring work serves as a model for the next generation of business leaders.
Hindery currently serves as Chairman and CEO of Trine Acquisition Corp., a NYSE-listed special purpose acquisition company that went public on March 15, 2019. Formerly chairman of the National Cable Television Association and of C-SPAN, Hindery has been recognized as one of the cable television industry's 25 Most Influential Executives Over the Past 25 Years and one of the 30 Individuals with the Most Significant Impact on Cable's Early History.
Hindery has long been an advocate for business ethics and the positive role that business can play in society. In this regard, on June 3, 2019, he published an opinion piece, 'How America's Business Leaders Lost Their Way', in The Washington Monthly.
Previously he published two books, The Biggest Game of All and It Takes a CEO, where the themes of appropriate business conduct were explored at length. Hindery has frequently spoken to groups of business school students, including in the Albers Executive Speaker Series at Seattle University, and recently to a group of Jesuit business school deans on the topic of business education.
Now in its fifth year, the Influential Leaders challenge has recognized more than 200 business school graduates for creating lasting impact in business and society. For more information on the program, visit the 2020 Influential Leader Honorees page on AACSB.
Winners of Seattle Business magazine's 2020 Executive Excellence Awards program, sponsored by Albers, were announced at a gala last January 23rd at the Museum of Flight. The program is a premier C-suite leadership event that recognizes Washington executives who have demonstrated extraordinary, consistent leadership in guiding their organizations to success.
Lifetime Achievement Award: Tom Alberg, Co-founder and Managing Director, Madrona Venture Group
Executive Excellence Awards:
Can a business be profitable and still do the right thing by its customers? Accolade CEO Raj Singh shared his reasons for why it can be so at the most recent Albers Executive Speaker Series last January 22nd.
Singh’s chosen topic was ‘Wanted: Contrarians, Disruptors, and Do-gooders’. According to him, ‘Mission based companies are poised to disrupt entrenched incumbents by doing the right thing for consumers and their communities while building a profitable, growing business. This is the new world.’
Singh is one of the Pacific Northwest’s most successful entrepreneurs, from co-founding and co-leading Concur for more than two decades to designing and managing a strategic growth plan for healthcare advocacy company Accolade beginning in early 2016. Last year, he was named EY Entrepreneur of the Year in the Innovator category.
Madeline Haydon, Founder and CEO of nutpods, a plant-based creamer with an online cult following, was the featured guest at the second Founder Friday held last January 24th at ATLAS Workbase.
Haydon's fireside chat topic was 'Raising Capital at Every Stage -- from Crowdfunding to Private Equity'. She launched her company in 2013 while earning her MBA at the Albers and placing as a finalist in the Harriet Stephenson Business Plan Competition run by Seattle U's Innovation & Entrepreneurship Center.
Haydon and her husband, nutpods CFO Geoff, launched nutpods with a Kickstarter campaign in 2013 and brought the product line to market on Amazon in 2015, where it quickly became the #1 bestselling alternative creamer. After growing by 250% in 2018, nutpods raised $33 million in private capital funding the following July to expand its online presence.
Poets&Quants for Undergrads has ranked Albers among the top 5 undergrad business schools in the Pacific Northwest. Now in its fourth year, the ranking's methodology 'was balanced equally across the three categories of admissions standards, the academic and co-curricular experience as measured by alumni, and employment outcomes.'
A comprehensive article on these rankings can be found on the P&Q Undergrad site.
Jun Duanmu, currently on the faculty of Louisiana Tech as the Chase Bank Endowed Assistant Professor of Finance, will be joining Albers in the fall as Assistant Professor of Finance.
Duanmu teaches primarily financial management and investments courses. His research often focuses on hedge funds and he has publications in the Journal of Financial and Quantitative Analysis and the Financial Review. His master’s degree is from Arizona and his PhD is from Arkansas. He also served as the department’s liaison with the CFA Institute.
Albers' Executive MBA students were invited last December 14th to a presentation on leadership by Alan Mulally, former President and CEO of both The Ford Motor Company and Boeing Commercial Airlines.
Mulally is a senior fellow for the Center for Leadership Formation (CLF) in the Albers School, and provides his time and expertise to the Center, including a once-a-year presentation to ELP/EMBA students.