There isn’t a diploma required to be a CEO of a venture-backed firm. However it seemingly helps to graduate from Harvard, Stanford or one in all a few dozen different distinguished universities that churn out a excessive variety of high startup executives.
That’s the central conclusion from our newest commencement season information crunch. For this train, Crunchbase Information took a have a look at high U.S. college affiliations for CEOs of startups that raised $1 million or extra previously yr.
In some ways, the findings weren’t too completely different from what we unearthed virtually a yr in the past, wanting on the university backgrounds of funded startup founders. Nonetheless, there have been a number of twists. Listed here are some key findings:
Harvard fares higher in its rivalry with Stanford relating to educating future CEOs than founders. The 2 universities primarily tied for first place within the CEO alum rating. (Stanford was properly forward for founders.)
Enterprise faculties are large. Whereas MBA applications could also be seeing fewer applicants, the diploma stays fairly standard amongst startup CEOs. At Harvard and the College of Pennsylvania, greater than half of the CEOs on our record graduated as enterprise college alum.
College affiliation is influential however not determinative for CEOs. The 20 faculties featured on our record graduated CEOs of greater than 800 world startups that raised $1M or extra in roughly the previous yr, a minority of the whole.
Under, we flesh out the findings in additional element.
The place startup CEOs went to highschool
First, let’s begin with college rankings. There aren’t many large surprises right here. Harvard and Stanford far outpace another establishments on the CEO record. Every counts near 150 identified alum amongst chief executives of startups that raised $1 million or extra over the previous yr.
MIT, College of Pennsylvania, and Columbia spherical out the highest 5. Ivy League faculties and enormous analysis universities represent many of the remaining establishments on our record of about twenty with a powerful observe document for graduating CEOs. The numbers are specified by the chart beneath:
Conventional MBA standard with startup CEOs
Sure, Bill Gates and Mark Zuckerberg dropped out of Harvard. And Steve Jobs ditched faculty after a semester. However they’re the exceptions in CEO-land.
The everyday path for the chief of a venture-backed firm is a little more staid. Levels from prestigious universities abound. And MBA levels, notably from top-ranked applications, are a fairly standard credential.
Prime enterprise faculties enroll solely a small share of scholars at their respective universities. Nonetheless, these establishments produce a disproportionately massive share of CEOs. Wharton College of Enterprise levels, as an illustration, accounted for almost all of CEO alumni from the University of Pennsylvania . Harvard Business School additionally graduated greater than half of the Harvard-affiliated CEOs. And at Northwestern’s Kellogg College of Administration, the share was practically half.
CEO alumni background is de facto fairly assorted
Whereas the tutorial backgrounds of startup CEOs do present loads of overlap, there may be additionally loads of room for variance. About three,000 U.S. startups and practically 5,000 world startups with listed CEOs raised $1 million or extra since final Could. In each circumstances, these startups had been largely led by individuals who didn’t attend a college on the record above.
Admittedly, the mathematics for this can be a bit fuzzy. A giant chunk of CEO profiles in Crunchbase (most likely greater than a 3rd) don’t embrace a college affiliation. Even taking this under consideration, nonetheless, it appears to be like like greater than half of the U.S. CEOs weren’t graduates of colleges on the brief record. In the meantime, for non-U.S. CEOs, solely a small quantity attended a college on the record.
So, with that, some phrases of inspiration for graduates: In case your purpose is to be a funded startup CEO, the surest path might be to launch a startup. Levels matter, however they’re not determinative.