CEO Stories: Journalist Turned CEO

FROM PRINT TO DIGITAL

While at BusinessWeek in the ‘80s, John Byrne started a ranking of MBA programs, which ended up becoming one of the magazine’s most popular and valuable franchises--so much so that America Online paid $1 million in 1994 for exclusive rights to publish the content online. That was Byrne’s first inkling of the true value of the information and the potential impact of the Internet.

POETS&QUANTS

Byrne also learned about “poets” and “quants”--terminology for B-school students who had liberal arts backgrounds vs. those who had traditional business backgrounds. “Poets&Quants” became the name of his website, now regarded as the leading source of information about business schools, MBAs, and executive education. Though his entrepreneurial streak has proven itself with the success of C-Change Media, a venture that he bootstrapped without borrowing any money or taking on partners, Byrne still sees himself as a journalist at heart.

A SOUND INVESTMENT

While a recent Bloomberg study says 40% of MBA grads at the biggest B schools have an average of $100,000 in debt, Byrne points out that the salaries B-School students command makes the debt less onerous. The top B-Schools give substantial amounts of money in scholarships, and that there are numerous schools where 100 percent of students receive either partial or full scholarships. He also says that paradoxically, the strong economy, not the cost of the degree, is the real reason enrollment in MBA programs is down. Also, the popularity and quality of online programs and specialized degrees have given students tremendous options beyond the traditional MBA. It is, he contends, a “sound investment.”