By Jeffrey Gangemi

CAKEBREAD UNIVERSITY.  Jack Cakebread, owner of the Cakebread Cellars Winery in the Napa Valley in California, hosts events at many of the top B-schools, including Columbia Business School, Harvard Business School , and the Yale School of Management, among others. In his "Access to the Top" course, he provides a crash course in the industry. For those who are serious about entering the wine business and making contacts, Cakebread hosts an invitation-only program called Cakebread University at his winery in California. Cakebread University provides an in-depth learning experience, where students have the opportunity to hob-nob with many industry insiders.

Cakebread says that to succeed in the wine industry, smaller players need to start attracting high-caliber MBA talent. Cakebread encouraged his three sons, who are set to take over the business, to get their MBAs -- and two of them did. "I owe it to the industry," he says. "It's the least I can do to tout the virtues of considering our industry in lieu of banking or consulting."

Although there are many sides to the wine business, many future brand managers are looking to wine for its personal appeal. "There are many students who want to feel a connection to the product they're working with," says Michael Preis, a senior brand manager for Palm Bay Imports, a wine and spirits importing company, and former wine club president at Columbia. "They feel a lot more connected to wine than they do to macaroni and cheese," adds Preis.

LA DOLCE VITA?  Those in the industry rarely wile away the hours tasting wine all day, but some say it offers a much more relaxed lifestyle than other typical MBA industries. Rob Donoho, who graduated from the Cornell University Johnson School of Business in 1991, worked for Procter & Gamble (PG ) for three years after B-school before taking his brand management skills to Gallo in Modesto, Calif. Donoho says that living in the small city in California's central valley is great for raising a family. And he says the company discount has helped him improve his tasting ability. He also works fewer hours nowadays.

In such a dynamic and growth-oriented industry, the biggest draw might be the product itself, with its unique blend of health benefits and luxury. "There's really only one thing you have to know in this industry: does it taste good to you?" says Cakebread. For more MBAs, the wine industry is tasting better all the time.

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