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MIT Sloan's In Talks With McKinsey, Amazon, Facebook On Big Data Placements For Students

And Deutsche Bank, Booz Allen Hamilton may join them

By  Seb Murray

Mon Mar 14 2016

MIT Sloan is in talks with companies including Amazon, Facebook and McKinsey & Company over summer projects similar to internships for its business analytics master’s students.

Sloan announced its new “M.N.An” degree, which is 12-months long and costs $75,000, last week.

Jake Cohen, senior associate dean for Sloan master’s programs, told BusinessBecause the school was “likely” to secure involvement from the aforementioned trio, plus Deutsche Bank and Booz Allen Hamilton, the consultancy firm.

They look set to work with Sloan M.N.An students on capstone projects. The 10-week-long projects place students inside companies to work on real data science problems.

Companies have shown insatiable demand for business managers with advanced analytics skills. The McKinsey Global Institute forecasts the US will see a shortage of 1.5 million data managers and analysts over the next two years alone.

“Recruiters have said they are looking for training in advanced business analytics — Amazon, Google and Facebook are looking for people who can take insight to action,” said Sloan’s Jake.  

Job posts related to analytics at the business school have increased 78% over the past three years. Many other schools report similar appetite for big data talent.

“We’re seeing demand that outstrips supply,” said Mark Kennedy, director of the KPMG Centre for Business Analytics at Imperial College Business School.

Gregory LaBlanc, faculty director at UC Berkeley’s Haas School of Business, said: “It’s what the recruiters are asking for.”

Benoit Banchereau, director of development at HEC Paris, said analytical skills are increasingly valued even at boardroom level. “Technology and data analytics are deeply embedded in any top positions nowadays in major international companies,” he said.

The launch of Sloan’s specialist program came as a plethora of elite business schools roll out big data degrees. Recruiters are desperate for data science expertise but so are students.

“The program is more popular than ever,” said Juergen Branke, professor at Warwick Business School, which runs an MSc Business Analytics.

Jeffrey Camm, associate dean at Wake Forest University School of Business, which recently launched an MS in Business Analytics, said: “We have seen a significant response from initial applicants for our inaugural class.”

He added: “Every business student should be required to take a course in data visualization.”