Latest news with #ColgateUniversity
Yahoo
4 days ago
- Business
- Yahoo
It's not just Gen Z: This baby-boomer bank CEO says his MBA was a waste—and the skills he learned have ‘degraded, degraded, degraded' since college
CEO of the $26 billion bank Standard Chartered, Bill Winters, admits that his MBA was 'a waste of time,' and that the skills he learned at college have 'degraded, degraded, degraded' over the last 40 years. The executive says that soft skills like communication, curiosity, and empathy are more important as AI takes over grunt technical work. A LinkedIn careers exec agrees that human touch is the new in-demand talent capability. Attending college has long been seen as a rite of passage for success, but now student-loan-ridden Gen Z is calling their worth into question. They're not alone. The CEO of $26 billion bank Standard Chartered has just admitted that his time at Wharton Business School wasn't necessary. 'I studied international relations and history. I got an MBA later, but that was a waste of time,' Bill Winters told Bloomberg in a recent interview. 'I learned how to think at university, and for the 40 years since I left university, those skills have been degraded, degraded, degraded.' The banking chief executive may hold degrees from Colgate University and the University of Pennsylvania, but getting an Ivy League degree doesn't equate to being a valuable worker. Winters says that AI has had a major impact on the relevance of skills; now that chatbots can compile documents, create meeting slideshows, and even write code, many hard capabilities like software engineering skills once seen as a career gold mine are now being rendered redundant. Instead, human soft skills like curiosity, communication, and critical thinking are incredibly important in leadership and work, according to the 63-year-old CEO. And those are skills that don't require a college degree to pick up. In discussing the skills of tomorrow and what advice he has for young people, the Standard Chartered CEO says that soft skills are making a 'comeback' thanks to AI—which can already rival professionals with PhDs. 'The technical skills are being provided by the machine, or by very competent people in other parts of the world who have really nailed the technical skills at a relatively low cost,' Winters said. One key soft skill that's missing, Winters suggests, is real human connection—and AI is actually making communication worse, not better. It's become so bad that managers are complaining that Gen Z candidates can't hold a conversation without a chatbot, and begging them not to use them in job applications. 'I really think in the age of AI, that it's critical that you know how to think and communicate,' Winters continued. 'Not communicate better than ChatGPT, but actually, I'm going to go back to curiosity and empathy.' While the banking CEO admits that some degree of hard skills are still needed, they'll only continue to wane in importance as AI takes over more workplace functions. As technology takes over all the heavy lifting, people will have to increasingly engage their human expertise on the job. 'Of course, technical skills are required at some level, but less and less as the machines take out,' Winters said. Fortune reached out to Standard Chartered for comment. While some CEOs like OpenAI's Sam Altman still advise young people to learn up on AI tools, there's growing urgency for soft skills across industries. The number one in-demand skill that companies wanted out of employees last year was good communication, according to a LinkedIn study. And the employment platform's chief economic opportunity officer, Aneesh Raman, echoed that AI has renewed a need for communication, empathy, and critical listening. Plus, it's not just Gen Z grads who will need to practice talking in the mirror to get the job. Emotional intelligence has even become more important when assessing for management hires too. This perhaps explains why staffers across the board want training with these skills; employees ranked teamwork (65%), communication (61%), and leadership (56%) as the most valuable when it comes to training workplace skills, according to a 2024 study from Deloitte. Technical skills like coding or data analysis were ranked lower, at 54%. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
5 days ago
- Business
- Entrepreneur
Standard Chartered CEO: Wharton MBA Was a 'Waste of Time'
Bill Winters, the CEO of 160-year-old bank Standard Chartered, says that the MBA he earned from the University of Pennsylvania Wharton School of Business was a "waste of time" — but the humanities undergraduate degree he received from Colgate University was more worth it. In an interview that aired earlier this week, Bloomberg's Francine Lacqua asked Winters, 63, what he would recommend for young people to study. Winters responded by saying that he studied international relations and history as an undergraduate, graduating in 1983. He recommended those fields, stating that majoring in those areas taught him "how to think." But his MBA from Wharton in 1988 was unnecessary, he said. "I got an MBA later, but that was a waste of time," Winters told Bloomberg. "I learned how to think at university. For the 40 years since I left university, those skills have been degraded, degraded, degraded." Related: Goldman Sachs CIO Says Coders Should Take Philosophy Classes — Here's Why Winters explained that critical thinking skills are "coming back" and becoming more important in the workforce now because AI is taking over tasks on the technical side. "I really think in the age of AI that it's critical that you know how to think and communicate," Winters said. He clarified that communication doesn't mean to act like ChatGPT and churn out answers, but to know an audience and anticipate their needs with curiosity and empathy. Technical skills are being needed "less and less," Winters said. Bill Winters. Photographer: Jason Alden/Bloomberg via Getty Images Winters started his career at JPMorgan in 1983, rising over nearly three decades to become the co-CEO of JPMorgan's investment bank. He was considered a potential successor to JPMorgan CEO Jamie Dimon, but was ousted by Dimon in October 2009. He started his own fund management business, Renshaw Bay, in 2011 and joined Standard Chartered as CEO in 2015. Related: Using ChatGPT? AI Could Damage Your Critical Thinking Skills, According to a Microsoft Study Winters isn't the only executive encouraging the study of the humanities. Goldman Sachs' Chief Information Officer, Marco Argenti, wrote in a post in the Harvard Business Review last year that engineers should take philosophy classes in addition to standard engineering courses. That's the advice he gave his college-age daughter who was thinking about what to study. Meanwhile, big tech companies are rapidly adopting AI in their operations as the technology sweeps over technical skills. AI generates about 30% of new code at Google and Microsoft, and up to half of software development within the next year at Meta. "Vibe coding," or having AI code entire apps and projects based on prompts, is also on the rise. Even Google CEO Sundar Pichai stated earlier this month that he had used AI coding assistants to "vibe code" a webpage in his spare time.
Yahoo
5 days ago
- Business
- Yahoo
One Of Wharton's Most Successful MBA Alums Says His Degree Was ‘A Waste Of Time'
Bill Winters, CEO of Standard Chartered, believes his Wharton MBA was 'a waste of time' By almost any account, Bill Winters has had a very successful career. After earning his MBA from Wharton in 1988, during the peak of MBA popularity when the degree's ROI was at its highest, Winters returned to JPMorgan to continue his role in the firm's graduate trainee program. He climbed the ranks over the next 26 years, ultimately becoming co-CEO of JP Morgan's investment bank. For the past decade, Winters has been CEO of Standard Chartered Bank in the United Kingdom, receiving a total compensation package of $14.7 million last year. His net worth has been estimated as high as $336 million. Did his MBA training at Wharton helped to put him on this high-flying trajectory? Not, according to Winters. In a recent interview with Bloomberg, Winters claims his MBA degree had little to no value. It was, in his own words, 'a waste of time.' Far more helpful, he suggested, was his 1983 undergraduate degree in international relations from Colgate University, a degree that opened the door to JPMorgan in the first place. 'I studied international relations and history,' he told Bloomberg. 'I got an MBA later, but that was a waste of time,' It is a stunning admission from one of Wharton's most successful alums. When Winters graduated from the school in 1988, the MBA program was ranked fourth best in Businessweek's first MBA ranking. The annual tuition was just $15,440, and the typical Wharton MBA started with average pay of $55,183. Today, tuition and fees are $92,820 a year, six times more, while the median salary is $175,000, little more than three times higher. Because Winters returned to JPMorgan after getting his MBA, it's highly likely he didn't even have to pay for it. JPMorgan would have picked up the tab. It's not clear why Winters is so down on his MBA degree. The Bloomberg interviewer did not follow up to explore why he thinks so little of his MBA education. Despite having a successful career, however, Wharton has never publicly acknowledged Winters with any honor or award–not a Distinguished Service Award or the Dean's Medal. And then there was the temporary setback in his career caused when JPMorgan CEO Jamie Dimon ousted Winters from his job as co-head of investment banking in 2009. Dimon, one of Harvard Business School's most successful MBA graduates, removed Winters abruptly by phone. Winters did say that the soft skills he learned from majoring in the humanities are more relevant now. 'I learned how to think at university, and for the 40 years since I left university, those skills have been degraded, degraded, degraded. They're coming back now,' Winters said. The CEO said that with the rise of AI, learning how to think and communicate effectively matters more than ever. 'The technical skills are being provided by the machine, or by very competent people in other parts of the world who have really nailed the technical skills at a relatively low cost.' 'I'm going to go back to curiosity and empathy. Really, really understand the audience that you're dealing with and anticipate those needs beforehand,' he added. DON'T MISS: or The post One Of Wharton's Most Successful MBA Alums Says His Degree Was 'A Waste Of Time' appeared first on Poets&Quants.
CBC
7 days ago
- Sport
- CBC
New York Sirens pick Czech forward Kristýna Kaltounková 1st overall in PWHL draft
The New York Sirens have selected Colgate University forward Kristýna Kaltounková with the first pick in the 2025 PWHL draft on Tuesday, adding a forward with size and skill. Kaltounková became the first player from the Czech Republic to become a finalist for the Patty Kazmaier Award as the top player in college hockey this season at Colgate, where she produced 48 points in 37 games. She is Colgate's all-time leading goal scorer, with 111 goals over five seasons. In her world championship debut this past spring, Kaltounková tied fellow draft-eligible forward, Natálie Mlýnková, for the team lead in points (six in seven games). She is now the highest-drafted player in the PWHL from the Czech Republic. The Sirens could slot Kaltounková on its first line alongside Sarah Fillier, giving the team two bonafide shooting threats, and filling a hole left by the departure of Alex Carpenter during the expansion process. Kaltounková is New York's second first-overall pick in three PWHL seasons, after GM Pascal Daoust picked Fillier in 2024. The draft comes after an expansion process that saw the league's rosters thrown in a blender. Vancouver and Seattle will begin play next season, and lots of teams still have holes to fill after the expansion draft and free agency. Other top prospects include University of Wisconsin forward Casey O'Brien and Clarkson University defenders Haley Winn and Nicole Gosling.
National Post
09-06-2025
- Sport
- National Post
Danielle Serdachny seeks better fit away from Ottawa: ‘We'll be really upset that we lost her'
From the moment the PWHL announced its expansion rules during its championship series last month, one Ottawa player was destined to walk out the door. Article content Danielle Serdachny, fresh off signing a two-year deal with PWHL Seattle, didn't mince words in her first media appearance with her new team. Her rookie season in Ottawa fell short of expectations. Article content Article content 'It was more on the disappointing end,' the 24-year-old forward said. 'I didn't have as much as an impact as I hoped I would.' Article content Drafted second overall last summer after a dominant five-year career at Colgate University, Serdachny arrived in the nation's capital with big expectations. The Charge needed scoring and the Canadian national team forward looked poised to provide it with her elite speed and vision. Article content But even with big-game experience playing with the Canadian national team at world championship, Serdachny struggled in her adjustment to the PWHL. Skating in all 30 regular-season games, she compiled only two goals and eight points, tied with fellow rookie Mannon McMahon for ninth on the Charge. Article content Originally playing in a top-six role with power-play time, Serdachny slowly tumbled down the lineup until she found herself buried on the fourth line for nearly all of Ottawa's eight-game playoff run. Article content Meanwhile, Sarah Fillier — the only player drafted ahead of her last year — shared the league scoring title and earned a forward of the year nomination. In contrast, Serdachny looked out of place in Ottawa's defence-first, grinding style of play. She showed glimpses of the blazing speed and puck control that they drafted her for, but more common were the turnovers and lack of finish. Article content Article content The arrival of Seattle and Vancouver to the league couldn't have come at a better time. For Serdachny, a change of scenery and a healthy dose of opportunity is absolutely part of the equation to unlocking what many feel is superstar potential. Article content Article content 'This fresh start will be really, really good for me and a new opportunity to play under a new staff and with new teammates,' Serdachny said. 'Just hoping I can continue contribute in any way.' Article content Ottawa general manager Mike Hirshfeld has no doubts that she'll find her way — and make the Charge regret losing her even more than they already do now. Article content 'We were really optimistic about her future,' he said. 'We think she's got the potential to be one of the best players in this league, so it's disappointing when you lose that talent from your roster.' Article content With the ability to protect just three players from the expansion roster-building process, Hirshfeld and the Charge just couldn't take a chance protecting Serdachny over established difference-makers in Gwyneth Philips, Emily Clark and Ronja Savolainen.
