Biz journalist talks about joining Knight-Bagehot program

The Columbia University Graduate School of Journalism announced its 2015-16 class of Knight-Bagehot fellows on Friday, and Indianapolis Business Journal managing editor Cory Schouten was one of them.

Conducted during Columbia’s academic year from August through May, the fellowship accepts up to 10 fellows each year. Fellows receive free tuition plus a stipend to offset living expenses in New York. For the 2016 academic year, a stipend of $55,000 will be granted to each fellow.

Schouten covered the real estate beat, launched a real estate blog and wrote enterprise stories before taking over as managing editor in March 2013.

Schouten has been honored with SABEW Best in Business awards for investigative and enterprise reporting. The Alliance of Area Business Publishers has recognized his work in the categories of investigative reporting, editorial writing, enterprise reporting and blogging.

In addition to his service as a member of the SABEW board of governors, Schouten is treasurer of the Indianapolis Press Club Foundation, and a board member of the Indianapolis Public Schools Education Foundation. He’s also an adjunct lecturer at Indiana University Purdue University at Indianapolis.

A graduate of Indiana University, Schouten joined IBJ in 2006 after stints at the Sarasota Herald-Tribune, where he covered politics and government, and the Arizona Republic, where he covered education.

Schouten spoke about his motives for applying for the Knight-Bagehot program with Talking Biz News. What follows is an edited transcript.

Why did you decide to apply for the Knight-Bagehot program?

I’ve been saying for years I regret not taking business courses in college. This program gives me a chance to do that — and so much more. One unusual component is the weekly dinners with financial news makers like Warren Buffett and Jamie Dimon. It’s also a master’s degree without student loans. I’m honored to make the cut.

You’ve been a business journalist for a while; what additional knowledge do you feel you need in the program?

This program stands out because you take MBA-level courses at one of the most highly-rated business schools. A passion of mine is exploring new business models that help support ambitious journalism, a goal that could benefit from deeper knowledge on the business side.

Is there any specific area of study you want to focus in while you’re there?

I look forward to exploring my options in the coming weeks. Among the many strengths of the Columbia program — and a big personal interest — is investing. This is where Warren Buffett studied with Graham and Dodd, the fathers of value investing. That’s pretty cool.

When did you tell your employer about the decision?

Within the last few weeks. IBJ folks have been very supportive.

How is the paper going to fulfill your job duties while you’re gone?

Actually, I’ve opted for a clean break and a chance to pursue new opportunities. So I expect they will be looking to hire a replacement to start in August. IBJ is locally owned and does fantastic work. And managing editor is a great gig, working with a top-flight editor and talented team of reporters.

Is taking a year away from daily journalism scary? Why or why not?

I think some other fellowship programs are seen as a chance for overworked professionals to recharge and refocus. That’s not me. I’m as optimistic and driven about business journalism as ever. I want to get better at what I do, round out my knowledge, and see what doors the experience might open.

Why not just go to business school for an MBA?

Knight-Bagehot is run by Columbia’s journalism school, but fellows take mostly business-school courses. We also have the option of sticking around for another year to earn an MBA.

How did you initially educate yourself to cover business topics?

I just jumped into it, started reading all the business news I could get my hands on, and I got hooked. One of the best decisions I made was to join SABEW and attend the conferences — these are master’s courses in their own right when it comes to business journalism. And you get to rub elbows with many of the icons of our business.

Do you plan to do any reporting or writing while you’re in New York?

Probably not, at least initially. I’ll need to adjust to academic life.

What’s the biggest thing an Indiana guy is going to have to do to get used to the big city?

Other than putting my overalls in storage and hiring a sitter for my corn crop? I love New York City, and I can’t wait to try the non-visitor experience with an assist from university-subsidized housing. Should be an adventure.