John Rice: “A College Degree Doesn’t Get You That Far If You’re Black”
Young leaders of color deserve our attention – and a much more significant investment. This week in Fortune, New Profit Board Member and MLT founder and CEO John Rice calls for this higher investment in the young people who will become senior leaders in key sectors that drive our economy. When we get a critical mass of minority leaders at every stage, they will create a multiplier effect that reverberates across our country, reducing inequality, improving social justice, and putting the American Dream in reach for all of us.
Management Leadership for Tomorrow (MLT) is fundamentally transforming America’s talent pipeline for the private and social sectors by equipping underrepresented minorities with the coaching, skills, and relationships that accelerate their rise to senior leadership. In 2015, we committed to MLT with a $2 million investment as the nonprofit organization scales its efforts to transform the face of leadership in America. For the full investment announcement, click here.
MLT’s programs take talented minorities on a career journey that 95% describe as “life-changing.” More than 95% of MLT’s college fellows receive fast-track jobs prior to graduation, compared to about 20% of all undergraduates. MBA admission rates at the top ten business schools are three times greater for MLT’s “MBA Prep” fellows than other applicants, and 40% of the underrepresented minorities at Harvard Business School, Wharton, Kellogg and Columbia are MLT fellows. Seventy-five percent of professionals who participate in MLT’s mid-career advancement program are promoted within one year of program completion.
Read the full Fortune op-ed from John Rice here.