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Skills are "far more important" than having a college degree for many jobs, he added. Dimon said JP Morgan Chase has eliminated degree requirements for most jobs at the bank and pivoted toward more skills-based hiring. About 80% of JP Morgan Chase's current roles for "experienced hires," or candidates with full-time work experience, don't require a college degree, a company spokesperson confirmed to Fortune. For context, 62% of Americans don't have a college degree, according to the latest Census data. That means degree requirements can lock out millions of job seekers with alternative qualifications from high-paying opportunities.
Persons: Jamie Dimon, Dimon, Morgan Chase, JP Morgan Chase's, It's Organizations: JPMorgan Chase, LinkedIn, Wall Street, Ivy League, McKinsey & Co, Harvard Business School's, Glass Institute, CNBC
Joseph Lamberti/Bloomberg via Getty ImagesMany Americans think they're insulated from the effects of global warming. But climate change is already having negative and broad impacts on household finances, according to experts. "There are a bazillion pathways" to adverse financial impact, he added. However, when it comes to financial impact, "I think you could argue the correct answer for [people] is, 'It's already hurting me,'" Krosnick said. How global warming and inflation intersectClimate change also exacerbates inflation, research shows — a dynamic dubbed "climate-flation."
Persons: Joseph Lamberti, Gernot Wagner, Jon Krosnick, Krosnick, Angela Weiss, Wagner, Mario Tama Organizations: Bloomberg, Getty Images, ICF, Columbia Business School, Finance, Stanford University, Resources, Research, Afp, Getty, Columbia Business, University of Illinois, University of Oregon, New York City, Workers, European Central Bank, Potsdam Institute, Climate Locations: Philadelphia, U.S, American, Miami, Bronx, New York, Urbana, Champaign, Canada, Baker , California, California, Phoenix
At the time, I hadn't even heard of the term "executive coach." Here's how an executive coach changed my company and myself forever and why executive coaching is still an important part of our continued success. Another lesson was that I had to set very clear goals. AdvertisementIf you can be super clear on where you're going and what your goals are, you're going to be 20 times more effective. You're going to get that hour back 20 fold, maybe even a hundredfold.
Persons: , Graham Weaver, Alex Nicoll, JP Flaum, Graham, Flaum, I'd, We're, It's, I've Organizations: Service, Alpine Investors, Business, Stanford Graduate School of Business ., Alpine, Graduate School of Business Locations: Denver , Colorado, Dallas, Chicago, Washington ,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanking sector to see increasing risks and more regulatory caution, professor saysArturo Bris, professor of finance at IMD Business School, discusses the latest U.S. bank results.
Persons: Arturo Bris Organizations: Banking, IMD Business School Locations: U.S
This as-told-to essay is based on a conversation with George Vukasin Jr., president and CEO of Peerless Coffee and Tea. My dad wanted to become an FBI agent and put away bad guys, but he had no choice. In fact, they encouraged me and my two sisters to get professional experience outside the family business. Running a family business is complicated enough without more people involved. None of the kids seem to have an interest in joining the family business.
Persons: George Vukasin Jr, Peerless, Kristina, Michelle, doesn't, I'm Organizations: Service, Peerless, Business, FBI Locations: France
watch nowTo keep up with the high cost of living, many young adults turn to a likely safety net: their parents. "The high cost of living is certainly impacting Gen Z," said Holly O'Neill, president of retail banking at Bank of America. The financial institution polled more than 1,000 Gen Z adults in April and May. Even compared with millennials, Gen Zers are spending significantly more on necessities than young adults did a decade ago, other reports show. Fewer Americans feel financially comfortable overallBut it's not just Gen Z struggling.
Persons: Zers, , Holly O'Neill, millennials, Gen Zers, homeownership, Brett House, O'Neill, Z, it's, Bankrate Organizations: Bank of America, New York Fed, Columbia Business School, Finance
Launched in 2018 by Chinese e-commerce behemoth Alibaba, the free online contest is open to math enthusiasts worldwide, though Chinese math majors typically dominate the top places. She was later trained by math teacher Wang Runqiu at Lianshu Secondary Vocational School, where she studies fashion design. Social stigma for vocational studentsAmong the cacophony of commentary, some suspect the harsh public scrutiny of Jiang is rooted in social prejudice against vocational students. But structural discrimination in China’s schools, universities and workplaces means society still favors academic degrees over trades. Jiang considers math her “Plan B,” prioritizing fashion design for future study, according to The Beijing News.
Persons: Jiang Ping, Alibaba, , Wang Runqiu, Wang, Jiang, Richard Xu, China’s, Yin Wotao, , Yin, there’s, , Zhao Yong, ” China’s, Einstein, Zhao Organizations: Hong Kong CNN, Harvard, Oxford, MIT –, DAMO Academy, Xinhua, Secondary Vocational School, Weibo, Harvard Business School, CNN, University of Kansas, Beijing, Communist Party, Zhejiang University Locations: Hong Kong, China, China’s Jiangsu, Xinhua, Lianshui, Beijing, Hangzhou, Jiangsu, Germany, Finland
This story is available exclusively to Business Insider subscribers. AdvertisementThe difficulties are reportedly creating tensions between Musk and X CEO Linda Yaccarino. Randall Peterson, a professor of organizational behavior at London Business School, told Business Insider that any company struggling like X would suffer leadership tensions. Leadership shake-upAmid the increasing financial pressure, Musk and Yaccarino have also been shaking up the company's leadership. X did not respond to a request for comment from Business Insider.
Persons: , Musk, Linda Yaccarino, Randall Peterson, she's, Yaccarino, Jerod Harris, Mark Read, Steve Davis, Davis, Joe Benarroch, Nick Pickles, Matt Navarra, it's, Navarra, Gwynne Shotwell, Amanda Edwards, Peterson Organizations: Service, Elon Musk's, Twitter, Business, YouTube, London Business School, Times, Microsoft, Cannes Lions, WPP, Brit, Social, SpaceX, Investors
Amy Dickinson, 64, has shared life advice in her widely syndicated news column, "Ask Amy," for two decades. In her final column, she concentrates her best advice into a few key phrases. "Many of us overestimate the likelihood that the people we're asking for help will say 'no.' Kets de Vries wrote for the Harvard Business Review. "In turn, they'll trust you enough to ask for help when they're in need themselves."
Persons: Amy Dickinson, Amy, Dickinson, Manfred F.R, Kets de Vries, de Vries, Juliette Han, Han Organizations: Harvard Business, Harvard, Columbia Business School, CNBC Locations: Dutch
Getty Images; Shutterstock; BIThe traditional path to private equity starts with an investment banking job out of college. In 2023, private equity firms started reaching out in July before junior investment bankers finished their summer training. But at its core, private equity is in the business of making money by buying and running companies. Samantha Lee/InsiderA small group of headhunters and other advisors hold power over the private equity recruitment process. More on private equity pay and hiring:Have private equity's 'Hunger Games' recruiting tactics gone too far?
Persons: , Blackstone, Apollo isn't, Goldman Sachs, it's, David Wurtzbacher, Wurtzbacher, Wharton, Graham Weaver, you've, Samantha Lee, We've, Jon Gray, Drew Angerer, Skye Gould, Steve Schwarzman, Jonathan Gray, Gray, Thoma Bravo, Atlantic's, Carlyle, Warburg Pincus, Wharton's, Axel Springer Organizations: Service, Apollo, KKR, Business, Getty, CPA, BI, Alpine Partners, Alpine's, Harvard Business School, Stanford's Graduate School of Business, Alpine, of Foreign Labor, Bain Capital, Blackstone, Harvard, Games, Wall, Citadel, headhunters, dealmakers, Private, PJT Partners, Centerbridge, of Michigan Locations: San Francisco, UPenn, Carlyle, Blackstone, Axel
How I went from MBA to CEO in just seven years
  + stars: | 2024-07-01 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +8 min
Now, seven years after graduating from business school, I'm the CEO of accounting platform Ascend Together, which is growing by the day. It took lots of long hours and self-reflection, plus the help of private-equity firm Alpine Investors' CEO-in-training program. Here's my story of how I went from MBA to CEO. Alpine CITs Alpine InvestorsI have to give them credit for their imagination, because they placed me in the role anyways. Alpine's CEO and founder Graham Weaver Alpine InvestorsI attribute this so much to Graham Weaver, Alpine's founder and CEO.
Persons: , David Wurtzbacher, you'll, CITs, We're, That's, Graham Weaver, Graham Organizations: Service, Business, Alpine Investors, JPMorgan Chase, JPMorgan, Harvard, Alpine's CIT, Lightwave, Carolinas, CIT, Alpine, Technology, CPA Locations: Harvard, Alpine, San Francisco, Virginia, Lightwave
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFar-right parties unlikely to have a 'big influence' on European policy, professor saysCedomir Nestorovic, professor of geopolitics at Essec Business School, discusses the likely outcome of the French snap elections and the extent of the far right's influence on European politics.
Persons: Cedomir Nestorovic Organizations: Essec Business School
Emotional intelligence is one of the most sought-after skills, and also among the hardest to learn. Research dating back decades has found that emotional intelligence — the ability to manage your own feelings and the feelings of those around you — is the strongest predictor of success in the workplace. You can assess and improve your EQ by paying closer attention to your conversations at work, says Juliette Han, a Harvard-trained neuroscientist and adjunct professor at Columbia Business School. "Anything you can say that demonstrates empathy, curiosity, patience or self-awareness signals a high EQ," Han tells CNBC Make It. Here are three phrases those with higher emotional intelligence often use at work, according to Han:
Persons: Juliette Han, Han Organizations: Harvard, Columbia Business School, CNBC
People worried about bills, feeling overwhelmed about overspending or concerned about money management may expect a “money talk” to lead to an argument, so they avoid bringing up the topic, according to a report from researchers at Cornell University and Yale University, published this month in The Journal of Consumer Psychology. Yet prior research has found that communicating about money helps couples spend more responsibly and better manage their debt. Why is it so difficult for some people to talk about money with their partners in the first place? Aja Evans, a financial therapist in New York, said people may feel ashamed that they are having money troubles. (Financial therapists aim to help clients understand how their emotions and beliefs about money can affect their financial behavior.)
Persons: , Emily Garbinsky, Aja Evans Organizations: Cornell University, Yale University, Consumer Psychology Locations: New York
Whereas, with passive income, the idea is you do upfront work and then the gig pays you while you sleep. Insider has spoken with individuals and couples who have built passive income streams that are helping them build wealth without having to put in a ton of hours. "I 100% think that it can be a lucrative passive income stream," Erika said of investing in a franchise. That comes out to about $40,000 a month in just subscription revenue. "Everyone talks about passive income, but they keep growing.
Persons: , Erika, Kareem Hall, Kareem, Erika Hall, Rachael Victoria, They've, , Kent, Liz Wilcox, Wilcox, I'm Organizations: Service, Business, Soccer Shots, Emory, Soccer, he's, LAX Locations: Georgia, Scottsdale , Arizona, Scottsdale
But the latest workplace trends — "silent layoffs" and "quiet firing" — could be the most harmful to date. Silent layoffs occur when a company provides staff with severance packages but asks them to keep quiet about the details of their exit. Amit Rawal, a management lecturer at City University of London's Bayes Business School, told BI that silent layoffs have become "increasingly popular across larger corporations." Related storiesThe goal of silent layoffs is likely to minimize the amount of negative traction the company receives. Advertisement'A PR disaster waiting to happen'Experts told BI that quietly getting rid of employees could easily backfire when employees opt to fight back and speak out.
Persons: , PwC, Mohamed Kande, Amit Rawal, Eloise Skinner, it's, Skinner, Lucas Botzen, Suzanne Horne, Paul Hasting, Evan Nierman, Banyan, Dan Buckley, Buckley, Nierman, Horne Organizations: Service, Business, Financial Times, PwC Global Network, Europa Press, City University, London's Bayes Business, National Labor Relations, CNN, National Labor Relations Board, Dell, Workers, Amazon, BBC
"It was harder than the initial assault," Kostial said of being stalked. The Aetna NDA only silenced her about the terms of her settlement, not the sexual assault. Kostial has discussed her situation with Vincent White, a New York city-based lawyer who specializes in workplace NDAs and advises signatories on the risks associated with breaking them. Kostial is fearful that if they wed, her wife's finances could be affected if either SAP or Aetna pursues her for breaking her NDA. AdvertisementWhenever she's seized by anxiety, Kostial reminds herself of how hard she's fought to move past the sexual assault and why she's coming forward.
Persons: , Ashley Kostial, she'd, She'd, Kostial, abrasions, Aetna, Brad Schleier, Schleier, hadn't, NDAs, Taylor Glascock, Kira, She's, Nina Wasow, Jodi Short, Evan Starr, Morton , Illinois Taylor Glascock, galling, Vincent White, White, Zelda Perkins, Harvey Weinstein's, Julie Macfarlane, she's, Hey Ashley —, he'd Organizations: Service, SAP, Marriott, Business, Ariba, Aetna, Aetna NDA, BI, University of California College of the, San, National Labor Relations Board, University of, Plano Police Department Locations: Plano , Texas, Plano, Phoenix, spokespeople, Aetna, Berkeley , California, California, New York, New, Maryland , New Jersey, New Mexico, But Arizona, San Francisco, NDAs, Morton ,, Oakland, Texas, Arizona, Illinois
Opinion | What Works for Golf Works for Life
  + stars: | 2024-06-24 | by ( Peter Coy | ) www.nytimes.com   time to read: +1 min
Please keep reading even if you don’t give a bogey about golf, because I’m going explain how the strategies that make someone a better golfer can help in other parts of life, such as personal finances. My main source for today’s newsletter is Mark Broadie, who has dual credentials that are more related to each other than you might expect. He’s both an expert on golf strategy and a professor at Columbia Business School specializing in security pricing, computational finance and programming for business research. Ten years ago, Broadie wrote a book, “Every Shot Counts: Using the Revolutionary Strokes Gained Approach to Improve Your Golf Performance and Strategy.” It’s not about how to square your shoulders or adjust your grip on the club. It’s insight gained from dynamic programming, which is a tool that’s extensively used by economists, for example in calculating the optimal saving rate.
Persons: Rory McIlroy, I’m, Mark Broadie, Broadie, ” It’s Organizations: Northern, U.S, Columbia Business School Locations: Northern Ireland
The promise of a more rapid climb up the corporate ladder has made Alpine's CIT program incredibly popular. While it's too soon to know how Alpine's CIT program ranked this year, it received 750 applications for just 12 slots. AdvertisementAnderman's own non-conventional career took her from college dropout to ballet dancer to the world of international development to business school. When she interviewed for her job at Alpine, Weaver asked how she could handle the job with no prior experience. — Alpine's founder and CEO — Alpine's founder and CEOThe first attribute the company looks for is IQ, but not in the traditional kind.
Persons: , it's, Tal Lee Anderman, you've, Tal Lee Anderson, Graham Weaver, GSB, Weaver, whittle, Anderman, David Wurtzbacher, Wurtzbacher, they're, Geoff Smart Organizations: Service, Business, CIT, Harvard Business School, Stanford's, School of Business, Wharton School, University of Pennsylvania, Harvard, Tal Lee Anderson Alpine, Stanford, Wharton, Kellogg School of Management, Northwestern, University of Chicago Booth School of Business, Alpine, Alpine's San, Citadel, Yale Law School, America Locations: Alpine's, Alpine's San Francisco, Blackstone, Anderman, Manhattan, Jackson , Mississippi, Hong Kong
With the rise of remote and hybrid work following the pandemic, work relationships have forever changed. AdvertisementHow workplace connections have changedWith remote work, developing a work-spouse relationship is much more difficult due to limited in-person interactions. Still, Pillemer said, relationships aren't all lost with remote work. AdvertisementWigert noted that work best friends, work spouses, and similarly strong work connections can lead to being "more engaged, productive, and committed to their organization." What is your experience with work friendships, work spouses, and loneliness at work?
Persons: Erin Mantz, Mantz, Zeno, skews, they'll, Ben Wigert, Wigert, Vicki Salemi, Salemi, Julianna Pillemer, Pillemer, Joseph Fuller, Fuller, X, I'm Organizations: Service, Business, New York University, Harvard's Business School, Work Initiative
Insider Today: CEOs in Training
  + stars: | 2024-06-23 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
But first: On the ground at Cannes Lions, aka summer camp for the ad industry. The promenade at the Cannes Lions festival in 2023. Tristan FewingsThis week's dispatchThe biggest names in marketing made for the south of France last week for the annual Cannes Lions festival. Meet Business Insider's most innovative CMOs of 2024. The program places MBAs in leadership positions at companies within just a few weeks, and promises to turn them into CEOs in a few years.
Persons: , Goldman Sachs, Tristan Fewings, Lara O'Reilly, Julia Hood, Megan Rapinoe, Sue Bird, I'm, Jason, Travis Kelce, Taylor Swift, Jimmy Simpson, Jenny Chang, Rodriguez, It's, Brian Ach, Tyler Le, Andy Sieg, Merrill Wealth, Sieg, Jeff Bezos, Paul Souders, Devon Price Organizations: Service, Business, Cannes Lions, Yahoo, Spotify, Sport, BI, Amazon Locations: France, Sport Beach, Seattle , Washington
What sets high achievers apart from everyone else, Fuller has discovered, isn't their confidence or business acumen — it's their adaptability. "They're not wedded to some predetermined career path that they set when they were a student or starting their first job," he tells CNBC Make It. It's great to set career goals and create timelines for achieving them. In both cases, "you're ignoring what motivates or interests you, and instead letting rigid expectations guide your career," says Fuller. If you fixate on a specific career path, you risk overlooking other fulfilling options for your professional life, Fuller adds.
Persons: Joseph Fuller, Fuller, , They're Organizations: Harvard Business School, Fortune, CNBC
The birth of the American mall ushered in an era of “windowless” shopping that’s largely still here. But the sneakiest reason why malls limit windows could be to make shoppers lose track of time. Windowless shopping creates an environment of consumption without distractions,” Flickinger said. The Southdale mall was functional and drab to look at and that is the blueprint that all traditional enclosed malls have continued to follow. Some of these adaptive uses of traditional malls might be creating a practical need for windows after all, she said.
Persons: mallgoers, Burt Flickinger, Bill Peters, ” Flickinger, , Victor Gruen, Gruen, Larry Salzman, Stephanie Cegielski, , Cegielski, ” Alexandra Lange, Lange, Thomas McMillan, ” Lange, Kristin Mueller, Kena Betancur Organizations: New, New York CNN, Strategic Resource Group, CNN, Shoppers, Denver, Getty, Denver Post, , Southdale, Minneapolis –, Gruen Associates, International Council of Shopping Centers, , Sears, Roebuck, of Retailing Studies, Texas, Mays Business School, Energy, Customers, North Locations: New York, Northglenn, Northglenn , Colorado, Minneapolis, Austria, Los Angeles, Edina , Minneapolis, , Framingham , Massachusetts, United States, America, American, East Rutherford , New Jersey, North America
This story is available exclusively to Business Insider subscribers. Her research inspired her to create the 5-3-1 rule, a guideline for measuring social health. Killam broke down the 5-3-1 rule — and what to do if you find it hard to follow. Use 5-3-1 as a rule of thumbIf you feel like you're great at talking to seven people a day but only have two very close relationships, Killam said not to worry — the 5-3-1 rule is more of a rule of thumb. If you've felt lonely but haven't known how to address it, the 5-3-1 rule can help you pinpoint where to start.
Persons: , Kasley Killam, Killam, I'm, you've Organizations: Service, Business, Harvard Business School Locations: Post
Read previewWhat's the most sought-after job opportunity for graduating students of top business schools like Harvard Business School, Wharton at UPenn, and Stanford's Graduate School of Business? For the 2024 CIT program, which starts this summer, Alpine received 750 applications for just 12 slots, giving it an acceptance rate of 1.6%. Related stories"You're moving from Yale Law School and Harvard Business School to Jackson, Mississippi, to run a plumbing company," Anderman said as an example. Wurtzbacher also got invaluable leadership training from Weaver, a longtime professor at Stanford's Business School and winner of the MBA Distinguished Teaching Award in 2024. The CIT program is so attractive to them because it offers a clear path to doing this by leading a company.
Persons: , Wharton, David Wurtzbacher, Wurtzbacher, Tal Lee Anderman, Graham Weaver, Weaver, JP, Graham, Anderman, they're, they've Organizations: Service, Harvard Business School, Stanford's Graduate School of Business, McKinsey, Business, Investors, Harvard, Stanford Business School, Green, Partners, CIT, Alpine's CIT, Wharton, Alpine, BI, Yale Law School, Alpine's San, Stanford's Business School, Stanford Locations: UPenn, San Francisco, Stanford, Manhattan, America, Jackson , Mississippi, Alpine's, Alpine's San Francisco, York, Carolinas, Virginia
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