The MBA programme at University College Dublin's Smurfit School of Business has been ranked 79th in the latest Financial Times Global rankings. It is the only Irish MBA programme to crack the top 100 and this marks the 17th consecutive top 100 ranking for UCD, though it has fallen six places compared to last year. The average graduate salary, one of the key criteria in the rankings, was $107,000. Graduates from the top business school in the rankings - French/Singaporean college Insead -had an average salary of $166,000. The Harvard and London Business Schools are second and third in the rankings.
The Dean of UCD's Business School Ciaran O'hOgartaigh says this is the ranking the school's peers and students look at when they are trying to decide what school to come too - especially overseas students. The index uses salary as the main metric and Mr O'hOgartaigh says that in a way, this shows a return on investment. But he says there is always a danger of looking at narrow measures of success.
On the fact that the school actually slipped six places in the rankings, Mr O'hOgartaigh says that there is a very flat curve around that area of the rankings, noting that there were nine new entrants to the list this year. But he noted that the school's salary uplift is 73% which is up on last year.
On diversity, the Dean says that on the faculty side, the school has recruited a net 20 new members over the last three years and so the percentage of female faculty members is increasing. He says it is very important for students to having mentors or role models that they can relate to. The school has worked very hard at attracting more women to its programmes, he adds.
Two thirds of the school's students are from overseas and the school secured a 49th ranking for its level of international mobility. Mr O'hOgartaigh says the sense of international learning experience is very important and it works with the Irish experience of international companies being located here.
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MORNING BRIEFS - Wholesale gas prices are down 29% year-on-year. The latest wholesale energy market report published by Vayu Energy shows wholesale gas prices now are 40% lower than the average monthly price for January over the three years between 2013 and 2015. Strong supplies from Norwegian and UK sources in the North Sea are the main factor behind the current low prices, says Vayu senior energy analyst Joanne Daly.
*** Google has been called on by British MPs to provide further details of an agreement through which it plans to pay £130m in back taxes relating to its advertising sales business in the UK and pay a higher effective rate of tax on profit there in the future. Meg Hillier, chair of the public accounts committee, called on both the company and HM Revenue and Customs to explain the deal. Among other things HMRC had been looking into Google's use of the "double Irish" loophole to reduce its exposure to Britain's higher rate of corporate tax on profit. The arrangement sees Google route revenue through subsidiaries in Ireland and Bermuda and reduce its overall profit by charging royalties to its Dublin-based subsidiary. Following the audit Google has agreed with HMRC to pay £130m in back taxes. The agreement was welcomed by UK chancellor George Osborne but has been criticised by others, including research and lobby group Tax Justice Network, which said it lacked transparency.
