WashU-IIT Bombay Executive MBA: Empowering Mid-Career Professionals Globally: Dean, Olin Business School

Interview with Michael J. Mazzeo, Dean, Olin Business School, Washington University in St. Louis

In an insightful conversation, Michael Mazzeo, Dean at Olin Business School, Washington University (WashU), shares his perspectives on strategic decision-making, market dynamics, and leadership. With his extensive experience in academia and consulting, Mazzeo offers unique insights into the evolving challenges businesses face in a rapidly changing global environment.

Q: Could you start by sharing your perspective on Indian higher education compared to the U.S. system?

A: I am Dean of the Olin Business School, which is part of Washington University in St. Louis, or WashU as we call it. WashU is located in the middle of the U.S. and offers programs across all disciplines. Our business program is one of the best in the country. At Olin, we have an undergraduate business program as well as a wide variety of specialized master’s programs, including an MBA and master’s programs in accounting, finance, business analytics, and supply chain management, among others.

Q: What are your flagship programs, particularly for South Asian students?

A: Among South Asian students, especially those from India, the most popular programs are business analytics, quantitative finance, and wealth and asset management. Our MBA program also attracts significant attention and is our most well-known offering. It’s the program that really builds our reputation in the U.S. and internationally.

Q: Can you give us an overview of international student demographics at WashU? Specifically, how many Indian students are enrolled?

A: At the Olin Business School, we have around 500 to 600 international students, with approximately 50 from India. Across the entire WashU campus, there are hundreds, possibly even a thousand Indian students. We’d like to see those numbers grow because Indian students bring incredible talent and drive, making our academic community even stronger.

Q: How diverse is the gender balance in your graduate programs?

A: Across all our programs, the gender balance is roughly 50-50. This year, we achieved a milestone with 53% women in our MBA program, which is the highest percentage we’ve ever had.

Q: What challenges do you face in attracting Indian students, and how can these be addressed?

A: One of the biggest challenges is increasing awareness of all the great things happening at WashU on a global scale. While we have a strong reputation in the U.S. and China, we’re working to build that reputation in India. Our partnership with IIT Bombay through an executive MBA program has been instrumental in this effort. It’s a collaboration that highlights WashU’s commitment to partnering with the best institutions worldwide.

Q: Can you elaborate on your partnership with IIT Bombay?

A: Our executive MBA program with IIT Bombay is a two-year program where students attend classes one weekend every month in Mumbai. It’s designed for mid-career executives, typically in their mid-30s. Teaching is split between IIT Bombay faculty and Olin faculty, who fly to Mumbai to deliver their courses. Graduates receive an MBA from WashU, and in some cases, it’s a joint degree with IIT Bombay. This partnership has been incredibly successful, and we’ll be celebrating its 10th anniversary in January.

Q: Why should Indian students choose WashU over other top B-schools like Wharton or Harvard?

A: Olin’s smaller size sets us apart. For example, Wharton admits nearly 800 MBA students annually, while Olin’s smaller cohorts allow for a more personalized experience. Our intimate environment fosters close relationships with faculty and peers, which has translated into significant leadership success for our graduates. According to a Fortune Magazine study, Olin ranks tenth in representation among C-suite executives in Fortune 1000 companies. Adjusted for the size of our school, we’re number one.

Q: What kind of scholarships does WashU offer to international students?

A: Scholarships are crucial for international students, given the significant investment required for U.S. education. At Olin, scholarships range from 20% to over 75% of tuition, based on the strength of the application. These are merit-based but also consider financial need. Our goal is to attract the best students, which enhances the overall quality and experience for everyone.

Q: How does WashU address diversity in admissions?

A: We focus on building a diverse student body, which strengthens our programs. For instance, our MBA program this year includes students from 27 countries. While we don’t follow an affirmative action model like in India, we do aim to support talented students from regions with greater financial challenges through scholarships.

Q: What is the success rate for Indian applicants to your programs?

A: For our MBA program, the success rate for Indian applicants is about 12%, similar to other international students. We’ve waived application fees to encourage more applicants, which has increased the pool but also made acceptance more competitive. This helps us uncover exceptional talent that might otherwise not apply.

Q: Many of your master’s programs are STEM-designated. How does this benefit international students?

A: STEM designation allows students to stay in the U.S. for up to three years after graduation on their student visas while they seek employment. This extended time frame, combined with six-figure average starting salaries, offers a compelling return on investment for these programs.

Q: WashU is known for fostering innovation. How does this reflect in your programs?

A: We’re building exciting partnerships between Olin and WashU’s top-ranked medical school. For example, MBA students collaborate with medical researchers to commercialize innovations like new pharmaceuticals and medical devices. This unique integration of business and life sciences is a growing focus for us.

Q: There are concerns about changing U.S. immigration policies. How does WashU address these apprehensions?

A: U.S. universities thrive on their global diversity, and we’re committed to maintaining this. Nearly 40% of our faculty are foreign-born, including many from India. We’re actively advocating in Washington, D.C., to highlight the value of international students and faculty, which strengthens both our university and the broader U.S. economy.