Stanford Graduate School of Business
|This article needs additional citations for verification. (December 2012)|
|Stanford Graduate School of Business|
|Type||Private business school|
|Dean||Garth Saloner (since 2009)|
|Postgraduates||816 MBAs, 83 MS|
|Doctoral students||101 PhDs in residence|
|Other students||2,284 (executive education)|
|Location||Stanford, California, USA|
Stanford GSB offers a general management Master of Business Administration (MBA) degree, the MSx Program (which is a full-time twelve-month MS in Management for mid-career executives) and a Ph.D. program, along with a number of joint degrees with other schools at Stanford University including Earth Sciences, Education, Engineering, Law and Medicine. Stanford is tied for the #1 rank with the Wharton School and the Harvard Business School in the United States MBA ranking by U.S. News & World Report. Among American MBA programs, Stanford has the lowest acceptance rate, 6.8%.
The school was founded in 1925 when Trustee Herbert Hoover formed a committee of Wallace Alexander, George Rolph, Paul Shoup, Thomas Gregory, and Milton Esberg to secure the needed funds for the school's founding becoming the second graduate school of business in the country. There are three Nobel Prize winners on the faculty, two recipients of the John Bates Clark Award, 15 members of the American Academy of Arts and Sciences, and three members of the National Academy of Sciences. Its faculty members maintain several joint appointments with affiliated research centers. The GSB maintains very close links with the venture capital, finance and technology firms of nearby Silicon Valley.
The school operates with an annual operating revenue of $156 million, and is the second wealthiest business school in the nation with an endowment of $1.3 billion, roughly tied with Harvard Business School in per capita endowment. There are 26,309 living alumni, including 17,803 alumni of the MBA program. Stanford Graduate School of Business is renowned to have produced a remarkable number of successful business leaders and entrepreneurs, many among the world's wealthiest, from its alumni base.
In August 2006, the school announced what was then the largest gift ever to a business school – $105 million from Stanford alumnus Phil Knight, MBA '62, Founder and Chairman of Nike, Inc. The gift went toward construction of a $375 million campus, called the Knight Management Center, for the business school. Construction was completed in 2011. The business school comprises the Knight Management Center and the Schwab Residential Center (named after alumnus Charles R. Schwab, Founder, Chairman, and CEO of the Charles Schwab Corporation).
There are ten buildings at the Knight Management Center: the Gunn Building, Zambrano Hall, North Building, Arbuckle Dining Pavilion, Bass Center, the Faculty Buildings (comprising East and West buildings), the Patterson Building, the MBA Class of 1968 Building, and the McClelland Building.
Full-time MBA program
|Business School Ranking|
|U.S. News & World Report||1|
Stanford's MBA program was ranked 1st in the United States by U.S. News & World Report in its 2014 rankings, and by Forbes in its 2013 rankings. The school was ranked 2nd in the Financial Times 2014 Global MBA rankings, and 4th by Bloomberg Businessweek in 2012. The Economist ranked Stanford 9th in its 2013 business school ranking and CNN Expansion ranked in 4th in the world. In the 2010 QS Global 200 Business Schools Report, Stanford Business School was ranked 4th in North America.
In Poets&Quants most recent aggregated "ranking of rankings" of US business schools, Stanford's MBA program ranked #2. This ranking is a composite of five major MBA rankings published by Bloomberg BusinessWeek, The Economist, The Financial Times, Forbes, and the U.S. News & World Report which is meant to eliminate anomalies and other statistical distortions that are often present in any single ranking.
The Stanford Graduate School of Business is the most selective business school in the U.S. It has maintained the highest ratio of "applicants to available seats" of any business school in the U.S. for the last decade. It has also had the lowest acceptance rates (typically <7%) of any business school. For the Class of 2015 which entered in 2013, 6.8% of applicants were offered admission  and the average GMAT score of 732  is the highest of any business school in the United States.
The school has approximately 400 students per year in its full-time two-year MBA program. It is relatively diverse compared to its peer institutions. The most recent entering class was approximately 36% female, 20% ethnic minorities and 42% international. Current and past students include Fulbright Scholars, Marshall Scholars, Coro, Gardner, Soros, Rhodes, Rotary, and Truman fellows. Approximately 15% of the class entered the MBA program with other graduate or professional degrees; including medical doctors, lawyers, and Ph.Ds. Stanford GSB also offers a PhD in Management degree for those looking to pursue a career in academia.
The students at the school have traditionally maintained a policy of grade non-disclosure whereby they do not release grades. Some annual academic distinctions do exist. Students graduating in the top ten percent of the class are designated "Arjay Miller Scholars", named after the former dean, Arjay Miller (1969–79). The top student receives the Henry Ford II award at graduation. At the end of the first year five students are also designated Siebel Scholars based on a combination of academics and extracurriculars.
Admission to the MBA program
Key Admission Stats – Stanford MBA:
Average GPA of admits: 3.73
Average GMAT of admits: 732
Acceptance Rate: 6.8%
Admission requirements include the equivalent of a US bachelor's degree, GMAT or GRE score (no minimum required), TOEFL (minimum 100 on iBT)/IELTS (minimum 7)/PTE (minimum 68) scores for international applicants, academic transcripts, resume, 2 essays and 2 Letters of Reference.
In June 2006, the School announced a dramatic change to its curriculum model. The new model, dubbed "The Personalized MBA Education", has four focus points. First, it aims to offer each student a highly customized experience by offering broader menus of course topics and providing personal course-planning mentoring from Stanford Business School faculty advisors. Second, the new program attempts to deepen the school’s intellectual experience through several smaller, high-impact seminars focused on critical analytical thinking. Third, the new program will increase global business education through both new course options and requiring international experience from all students. Finally, the new program expands the schools focus on leadership and communication through new courses that examine students’ personal strengths in the topic. Overall, the school sees the flexible program as an important point of differentiation that leverages the school’s smaller relative size versus most other top MBA programs. The graduating class of 2009 was the first class having gone through the new curriculum.
Full-time MSx Program
The Stanford MSx Program is a full-time, one-year master’s degree program for successful managers in mid-career. The program’s principal objective is to help participants strengthen their capacity for organizational leadership. Participants gain an understanding of their personal leadership capacities, develop a strategic and integrated perspective on organizational leadership, and deepen their command of key management disciplines and functions. The ideal MSx candidate is a senior manager who has had or will soon be appointed to his or her first general management position.
The Stanford MSx was previously called the Stanford Sloan Master's Program, because students in the program are known as Stanford Sloan Fellows. The Stanford MSx is one of the three Sloan Fellows programs, sharing a similar format with the others at the MIT Sloan School of Management and the London Business School. These programs were initially supported by Alfred P. Sloan, Chairman of General Motors from 1937 to 1956, who envisioned the Sloan Fellowship as a means of developing the "ideal manager".
Fellows who successfully complete the academic program are awarded the degree of Master of Science in Management. The degree distinguishes itself from the MBA by acknowledging the life experiences of fellows, as well as the intense nature of the shorter program. Like the MBA program, the MSx program requires a set of core courses along with electives (normally mixed with MBAs), however, the MSx program has separate core courses, more tailored for the experience level of fellows.
Stanford MSx Class of 2014 Profile
- Fellows: 83
- U.S. / International: 33% / 67%
- Number of passports: 31
- Number of countries Fellows have worked: 42
- Average years of work experience: 12; Range: 8 – 25 years
- Sponsored / Self-Sponsored: 30% / 70%
- Women: 20%
- Median GMAT score: 700
General differences between the MBA program and the MSx program
|Stanford MBA Program||Stanford MSx Program|
|Full-time, 21-month program||Full-time, 11-month program|
|6 academic quarters||4 academic quarters|
|400 students per class||83 Sloan Fellows (mid-career managers/execs)|
|42% international students||67% international students|
|Work Experience: 4-year average||Work experience: 12-year average, 8-year minimum|
|15% have previous graduate degrees||47% have previous graduate degrees|
|Awards MBA degree||Awards MS in Management degree|
Stanford GSB has a number of relationships with other leading business schools. It offers a number of Executive Education programs jointly with Harvard Business School. It also offers one of the three Sloan Fellows programs, coordinating with the others at the MIT Sloan School of Management and the London Business School.
The Stanford GSB Alumni Association provides a wide range of opportunities (see: Alumni Statistics), services and resources for their alumni, including local regional/chapter activities, special alumni events, continuing education programs, alumni career services, international conferences, reunion programs, Alumni/Student programs and password protected online services.
Notable GSB alumni
||This section of a biographical article needs additional citations for verification. (January 2013)|
- As of November 2009
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- Official website
- GSB PhD Student Association from the main Stanford University website
- Remarks by Mukesh Ambani Chairman and Managing Director, Reliance Industries Ltd., India at Global Business and Global Poverty Conference of Stanford Graduate School of Business.