Hello from London. ESCP, the French-based school with six campuses across Europe, will from September to require all new academic recruits to have spent time working in a managerial position in business, as it fosters tighter links with employers.
Frank Bournois, the dean, said the move was part of wider efforts to encourage greater interchange with the corporate world, by encouraging employees to spend time teaching and companies to bring in academics as managers and directors.
Given the vast majority of business school alumni go into careers in management rather than academia, such efforts to improve the connections between the two worlds can only be desirable.
Business school news
Executive education is ripe for disruption, and greater focus on life-long learning will require new products, services, business models and technologies, according to a new study by the consultancy IEDP.
Join the FT Weekend Festival in London on September 3. Students can watch free online or buy a reduced rate ticket to attend in person for debates, tastings, performances and more. Hear from Great British Bake-Off winner Nadiya Hussain, novelists Ali Smith and Monica Ali, MP and former health secretary Jeremy Hunt, Ukrainian chef Olia Hercules and psychotherapist Esther Perel in conversation with Lucy Kellaway and more. Claim your student discounted festival pass today.
Looking for transformational businesses
Entries are invited for the FT/IFC transformational business awards. We are seeking submissions by 31 July for companies and initiatives created since 2016 with annual revenues of at least $3mn or a capital base of at least $5mm.
Categories are for companies making a difference to human capital, climate change, finance and gender-lens finance. There is also recognition on new deep tech ideas with the potential, with additional funding, to have a transformational impact.
Message in a chart
For those working in finance, remuneration is key. Masters in finance alumni said increasing their earnings was one of the most important reasons for studying. Over nine-tenths achieved their goal.
Graduates gained a salary increase of over 50% on average since completing their course. The majority earn between $50,000 and $90,000 and 85% between $50,000 and $210,000.
The average salary of MiF alumni working in private equity, trading and investment banking is higher than the rest of the cohort and the distribution of salaries is wider. Around a third in private equity or investment banking earn a salary between $100,000 and $140,000.
Leo Cremonezi and Sam Stephens
This week’s reading
Japan’s former prime minister Shinzo Abe shot and killed
Country’s longest-serving premier attacked while making election campaign speech
Boris Johnson to resign as prime minister as UK government crumbles
Sterling jumps on news of Tory leader’s departure after days of chaos and resignations
Elon Musk says he is terminating $44bn Twitter deal
Social media company vows to enforce agreement, setting stage for fierce legal battle
Quiz: Are you up to date with the news?
Which UK minister resigned first from Boris Johnson’s cabinet? Test yourself with ten questions.
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