McCombs School of Business

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McCombs School of Business
Motto Where Leadership Is Earned
Established 1922
Type Public Business school
Dean Thomas W. Gilligan
Academic staff 193 (Full-time equivalent)[1]
Students 5,984
Undergraduates 4,318
Postgraduates 1,569
Doctoral students 97
Location Austin, Texas, USA
Campus Urban
Former names • School of Business Administration (1922-1945)
• College of Business Administration (1945-2000)
Affiliations The University of Texas at Austin
Website http://new.mccombs.utexas.edu/

The McCombs School of Business, also referred to as the McCombs School or simply McCombs, is a business school at The University of Texas at Austin. In addition to the main Austin campus, McCombs offers classes outside Central Texas in Dallas, Houston and internationally in Mexico City. The McCombs School of Business offers undergraduate, master's, and doctoral programs for their average 6,000 students each year, adding to its 85,000 member alumni base from a variety of business fields.[2] In addition to traditional classroom degree programs, McCombs is home to 14 collaborative research centers, the international business plan competition: Venture Labs Investment Competition (formerly known as "MOOT Corp"), and executive education programs. The McCombs School of Business consistently ranks among the top business schools in the nation, the majority in the top 10 and is the oldest public business school in Texas.[3]

Contents

[edit] History

When the Business-Economics Building opened in 1962, it was the largest classroom structure on campus

The University of Texas at Austin (UT Austin) was founded in 1883, and the university's School of Business Administration was established a few decades later in 1922.[4] The school quickly grew, establishing a Master of Professional Accounting program in 1948 and offering its first executive education programs in 1955.

Effects of the 1990s technology boom and dot-com bubble were palpable in Austin, leaving the nickname "Silicon Hills" on the city. One McCombs School program that has capitalized on this is the Venture Labs Investment Competition, is the oldest operating inter-business school new-venture competition in the world. Begun in 1984, it has been dubbed the "Super Bowl of world business plan competitions."[5] Also opportunistic was the creation of the school's first Management Information Systems degree in 1990. The MBA Investment Fund, LLC was also founded in 1994, becoming the first legally constituted investment fund run by Master of Business Administration (MBA) students and proving quite successful, with a 17.5 percent annual return to date.[4] Additionally, in 1995 the college became the first to require students have an e-mail address.[citation needed]

On May 11, 2000, businessman Red McCombs announced a $50 million donation to UT Austin. In his honor, the College of Business Administration and the Graduate School of Business were merged under the newly created Red McCombs School of Business.[4]

In June 2007, AT&T pledged $25 million to the McCombs School towards the construction of the Executive Education and Conference Center. As part of the financial contribution, the center, which opened August 2008, will be named the AT&T Executive Education and Conference Center for the next 25 years.[6]

[edit] Facilities

See also: List of University of Texas at Austin buildings
Graduate School of Business Building

The McCombs School of Business is located in the heart of The University of Texas at Austin campus. The majority of the McCombs School is housed in a three-building complex called the George Kozmetsky Center for Business Education named after, philanthropist and former College of Business Administration dean, Dr. George Kozmetsky at the intersection of 21st and Speedway Streets.[7] The McCombs School is bordered by Waggener Hall (the former home of the College of Business Administration) to the North, Gregory Gymnasium, and E. P. Schoch Building (one of the last overseen by campus master planner Paul Cret)[8] to the East and is adjacent to Perry-Castañeda Library to the South.

The Business-Economics Building (now the College of Business Administration Building), opened in January 1962. It was the largest classroom structure on campus when it was built and housed the first escalator on campus. Today, it is home to the undergraduate programs at the McCombs School and the Bureau of Business Research. The building faces Speedway Street and unlike the majority of surrounding Mediterranean Revival Style architecture structures, most of the building is faced with brick.[9]

In March 1976, Graduate School of Business Building opened next to the existing building facing 21st Street. Since its inception, the addition to the College of Business Administration Building houses the separate graduate MBA program. The addition was constructed in a rhombus shape to protect a grove of trees on the north side of the building.[3][10]

Located on the southwest corner of the UT campus, the AT&T Executive Education and Conference Center is a multi-function complex and hotel. The facility has multiple sized classrooms and breakout rooms, a 300-seat amphitheater, ballroom, three restaurants, and 297 hotel rooms. The center hosts all of the executive education programs for the McCombs School, including the Texas Executive Education and evening MBA programs.[11] It's the first building to be built to the U.S. Green Building Council’s LEED Silver certification standards on campus.[12]

A statue titled "The Family Group" by sculptor, and former UT College of Fine Arts professor, Charles Umlauf sits in the middle of McCombs Plaza at the southern entrance of the GSB Building.[13]

[edit] Academic profile

McCombs is made up of a total of 6,025 students, 4,246 undergraduates, 1,680 postgraduate, and 99 doctoral students.[14] All undergraduates classes are at the main campus in Austin while almost a quarter of postgraduate student classes are held outside of Central Texas in Dallas, Houston, and Mexico City.[15]

In addition to traditional graduation routes, McCombs offers a five year program where students earn their BBA and Master in Professional Accounting (MPA) degrees concurrently.[16] The Texas Business Foundations Program (Texas BFP) offers non-business majors the opportunity to grasp the fundamentals of business operations and minor in business while pursuing any undergraduate program at the University of Texas at Austin. Students in the Business Foundations Program take seven business courses (two lower-division and five upper-division) in addition to their existing undergraduate course work. Students who complete the program are capable of integrating their major into future their career.[17]

[edit] Admissions

Admission to the McCombs School is highly competitive.[18] In Fall 2011, out of the 6,157 freshman applicants, only 1,436 were admitted to the undergraduate program.[19] Unlike most colleges & schools at The University of Texas at Austin and the university itself, McCombs does not accept spring or summer applications. Prospective students must apply for admission only during the fall semester.[18] Both undergraduate and postgraduate applicants have similar admissions requirements. Applicants are evaluated based on multiple letters of recommendation, essays, transcripts, and a resume.[20] Postgraduate applicants however are encouraged to have at least two years of full-time work experience and are required to take the Graduate Management Admission Test (GMAT).[21]

Admission to the MBA program - Key Admission Stats: (class of 2011)

Applicants accepted to most recent class - 27%

Applicants invited to interview - 60%

Admitted applicants who enrolled - 49%

Class size - 261

Median GMAT - 681

Mid 80% GMAT Range - 620-730

Average undergrad GPA - 3.45

International students - 25%

Women - 26%

Average age - 28

Average work experience - 5.2

% of students receiving financial assistance from school - 64%


Candidates applying to the McCombs MBA program should consider its main characteristics – the school emphasizes teamwork and communications skills. [12]. School puts emphasis on hands on and practical learning. Among the ways it does this is through the Plus Program - a series of seminars and projects that give students intense training in topics such as communications, business analysis, and venture capital and direct industry experience.

[edit] Organization

The McCombs School of Business awards the degrees of Bachelor of Business Administration (BBA), Master of Business Administration (MBA), Master in Professional Accounting (MPA), Master of Science in Technology Commercialization (MSTC), Doctorate of Philosophy (PhD), as well as certificates upon completion of non-degreed Executive Education programs.[22] Programs awarding doctoral degrees at the McCombs School of Business are divided in five academic departments, Accounting, Finance, Information, Risk, and Operations Management (IROM), Management, and Marketing.[22] A sixth department, Business, Government and Society, was created in 2010 and does not award a doctoral degree.

Finance students are divided into six different specializations or "tracks." The Corporate Finance and Investment Banking Track prepares students for careers as associates of corporate treasury departments, as financial analysts for corporations or investment banks, and as management consultants. The Energy Finance Track prepares students for positions in project-financing, valuation, and risk management in the energy sector. The Investment Management Track provides students with a background suitable for starting positions as financial analysts with investment funds, investment banks or other financial institutions. The Financial Markets/Banking Track prepares students for various financial institution-related careers such as lending officers and financial analysts. The Real Estate Track prepares students for positions in real estate commercial brokerage and appraisal, mortgage banking, loan underwriting, real estate development and investment, and property management. Finally, the General Finance Track for students who do not wish to specialize in any area.[23]

[edit] Business Honors Program (BHP)

The Business Honors Program (BHP) at the University of Texas at Austin (UT) strives to equip outstanding students with the analytical tools and interpersonal skills needed for careers of leadership in business and other professions. An innovative degree program within the highly ranked business school—the McCombs School of Business—the BHP is designed to provide intellectual challenge and professional development for students with exceptional academic abilities and leadership skills. BHP combines the benefits of a small, close-knit community with the vast resources of the University of Texas at Austin.

BHP core courses are accelerated and modeled after those taught in the MBA program. BHP courses are taught by some of the McCombs School's most experienced faculty. Emphasis is placed on class discussion and presentations, case study analysis, and the research of actual business decisions. Enrollment in BHP classes is restricted to students in the program, and the small class size (generally 30-45 students) facilitates interaction among students and faculty. It is the combination of small classes and BHP specific programming that creates a truly unique and welcoming learning community. http://new.mccombs.utexas.edu/BBA/BHP.aspx

[edit] Research

McCombs is home to over a dozen collaborative research centers focused on various business and investment sectors. Research centers are part of the academic departments and research information within that department according to the center's specialty.

[edit] Rankings

Current rankings for McCombs School of Business programs:

BBA
6 U.S. News (9/11)[24]
17 Bloomberg Businessweek (3/11)[25]

MBA
17 Forbes (8/11)[26]
17 U.S. News (3/11)[27]
21 The Economist, U.S. rank (10/11)[28]
24 Financial Times, U.S. rank (1/11)[29]
25 Bloomberg Businessweek (11/10)[30]
26 in North America in the 2010 QS Global 200 Business Schools Report[31]


Executive MBA
12 Wall Street Journal (9/10)[32]
13 Financial Times, U.S. rank (10/11)[33]
18 U.S. News (3/11)[34]
19 Bloomberg Businessweek, U.S. rank (11/11)[35]

Working Professional MBA
7 U.S. News (3/11)[36]
11 Bloomberg Businessweek (11/11)[37]

Executive Education - Custom Programs
17 Financial Times, U.S. Rank (5/11)[38]

Research Rankings
3 Finance Research, Faculty Scholarly Productivity Index, Chronicle of Higher Education (11/07)[39]
6 Marketing Research, Faculty Scholarly Productivity Index, Chronicle of Higher Education (11/07)
10 Information, Risk & Operations Mgt Research, Faculty Scholarly Productivity Index, Chronicle of Higher Education (11/07)
10 Top 100 North American Business School Research Rankings, University of Texas at Dallas (3/11)[40]
11 Top 100 World Business School Research Rankings, University of Texas at Dallas (3/11)[41]
17 Intellectual Capital, Bloomberg Businessweek (11/10)[42]
22 Faculty Research Publications, Financial Times, Global (1/11)[43]

Accounting
1 Accounting (Undergraduate), U.S. News (9/11)[44]
1 Accounting (Graduate), U.S. News (3/11)[45]
1 Graduate Program, Public Accounting Report (11/10)[46]
1 PhD Program, Public Accounting Report (11/10)[46]
1 Undergraduate Program, Public Accounting Report (11/10)[46]
2 Accounting, Worldwide, Financial Times (1/11)[47]

Undergraduate Specialty Rankings
1 Accounting, U.S. News (9/11)[48]
3 Marketing, U.S. News (9/11)[49]
4 Management Information Systems, U.S. News (9/11)[50]
4 Business Law, Bloomberg Businessweek (5/11)[51]
6 Management, U.S. News (9/11)[52]
6 Finance, U.S. News (9/11)[53]
6 Supply Chain, Garnter, Inc. (6/11)[54]
7 Insurance/Risk Management, U.S. News (9/11)[55]
8 International Business, U.S. News (9/11)[56]
8 Production/Ops Management, U.S. News (9/11)[57]
9 Entrepreneurship, U.S. News (9/11)[58]
9 Real Estate, U.S. News (9/11)[59]
11 Quantitative Analysis/Methods, U.S. News (9/11)[60]
12 Ethics, Bloomberg Businessweek (5/11)[61]
13 Supply Chain Management/Logistics, U.S. News (9/11)[62]
15 Operations Management, BusinessWeek (5/11)[63]
15 Quantitative Methods, BusinessWeek (5/11)[64]

Graduate Specialty Rankings
1 Accounting, U.S. News (3/11)[65]
1 Graduate Accounting, Public Accounting Report (11/10)[46]
1 Best Professors, Princeton Review (10/11)[66]
2 Accounting, Worldwide, Financial Times (1/11)[47]
2 MBA Program for Hispanics, Hispanic Business (9/11)
3 Information Systems, U.S. News (3/11)[67]
7 Entrepreneurship, U.S. News (3/11)[68]
8 Entrepreneurship, Entrepreneurship Magazine (9/11)[69]
10 Entrepreneurship, Financial Times (1/11)
12 Marketing, U.S. News (3/11)[70]
14 Productions/Operations Management, U.S. News (3/11)[71]
14 Best Global MBAs for Mexicans, U.S. rank, Expansion (2/11)[72]
15 International Business, U.S. News (3/11)[73]
15 Supply Chain, Gartner, Inc. (6/11)[74]
Top 15, Global Management, Princeton Review (3/10)
17 Top MBA Programs for Latin Americans, U.S. rank, AmericaEconomia (5/11)[75]
20 Management, U.S. News (3/11)[76]
20 Supply Chain/Logistics, U.S. News (3/11)[77]
21 Finance, U.S. News (3/11)[78]
22 Social, Ethical & Environmental Stewardship, Beyond Grey Pinstripes, U.S. rank (9/11)[79]

[edit] People

[edit] Alumni

See also: List of University of Texas at Austin alumni
Donald Evans, former U.S. Secretary of Commerce under George W. Bush, received an MBA from McCombs in 1974.

Graduates from McCombs receive competitive salaries and are solicited by some of the best companies in the world. Top recruiters at McCombs historically include PriceWaterhouseCoopers, Ernst & Young, Deloitte, KPMG, JP Morgan Chase, Dell, Citigroup, Microsoft, Chevron, and BP.[80]

Alumni of the business school include Southwest Airlines CEO Gary C. Kelly '74,[81] Heinz CEO William R. Johnson '74,[82] former Texas Rangers owner Thomas O. Hicks '68,[83] and ConocoPhillips CEO James Mulva '68 & '69.[84] The school's namesake, Red McCombs, also attended the business school, going on to co-found Clear Channel Communications and co-own the San Antonio Spurs, the Denver Nuggets, and the Minnesota Vikings.[85] Donald Evans '73, former U.S. Secretary of Commerce, earned his MBA at McCombs.[86]

[edit] Faculty

Main article: List of University of Texas at Austin faculty#McCombs School of Business

As of the 2010–2011 school year, the McCombs School employs 194 full-time equivalent faculty and currently maintains a student-faculty ratio of 29:1.[15] McCombs is headed by Dr. Thomas W. Gilligan who took over as dean in 2008 when George W. Gau stepped down after six years in the previous position.[87] Prior to joining the McCombs School, Gilligan held a variety of positions at the University of Southern California from 1987 until 2008.[88]

[edit] Students

The average SAT and ACT scores for an admitted freshman in Fall 2011 were 1310 and 30 respectively. 698 enrolled McCombs freshmen were Texas residents, while only 67 were enrolled from out of state and 33 from outside the U.S. Of the enrolled freshmen, 47 percent were Caucasian and just under half were minorities.[89]

The average GMAT score of students enrolled in the full-time MBA program for the Class of 2013 was 692. The 263 students in this class have, on average, an upper-division undergraduate GPA of 3.43 and five years of previous work experience. The average student in this class is 28 years old.[90]

[edit] Previous logos

  • Former graduate school name/logo

  • Former logo (2000-2007)

[edit] See also

[edit] References

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  13. ^ http://www.mccombs.utexas.edu/news/phototour/2.htm
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  16. ^ http://www.mccombs.utexas.edu/mpa/
  17. ^ http://www.mccombs.utexas.edu/udean/major/foundations/
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  21. ^ http://mba.mccombs.utexas.edu/admissions/adm/prereqs.asp
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  82. ^ "Johnson". BusinessWeek. http://investing.businessweek.com/research/stocks/people/person.asp?personId=278216&symbol=HNZ. Retrieved 2008-07-29. 
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  85. ^ "McCombs bio". UT Austin. http://www.mccombs.utexas.edu/news/mccombs/about/bio.asp. Retrieved 2008-07-29. 
  86. ^ "Evans bio". White House. http://georgewbush-whitehouse.archives.gov/government/evans-bio.html. Retrieved 2008-07-30. 
  87. ^ "Thomas W. Gilligan Appointed Dean Of McCombs School of Business". utexas.edu. July 9, 2008. http://www.utexas.edu/news/2008/07/09/business_gilligan/. Retrieved 25 June 2009. 
  88. ^ "Thomas W. Gilligan's Vita". utexas.edu. http://www.mccombs.utexas.edu/dean/vita.asp. Retrieved 25 June 2009. 
  89. ^ http://www.mccombs.utexas.edu/BBA/Prospective/Admission/Freshman-Admission.aspx#tab-pane3
  90. ^ http://www.mccombs.utexas.edu/MBA/Full-Time/Admissions/Class-Profile.aspx

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