William E. Simon Graduate School of Business Administration
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| Established | 1958 |
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| Type | Private |
| Endowment | US $87 million |
| Dean | Mark Zupan |
| Postgraduates | 908 |
| Location | Rochester, New York, USA |
| Website | http://www.simon.rochester.edu/ |
The University of Rochester William E. Simon Graduate School of Business Administration (formerly known as The Graduate School of Management) is the business school located on the University's River Campus in Rochester, New York. It was renamed after William E. Simon (1927-2000), the 63rd United States Secretary of the Treasury, in 1986. The school's present dean is Mark Zupan.
Constantly ranked as a top business school worldwide (see Rankings below), the Simon School offers full-time, part-time, executive (Rochester-based) and executive (Switzerland-based) M.B.A. programs, as well as Master of Science (M.S.) programs. The school is also a bastion of cutting-edge academic research and home to a Ph.D. program that constantly produces graduates whose academic careers take them to top business and economics schools worldwide.
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[edit] Full-Time M.B.A. programs
The Full-time M.B.A. Program is offered in two tracks: the full 2-year program, beginning in September, or the accelerated 18-month option which commences in January. With an average Fall enrollment of 165 students, the Full-time M.B.A. program is over 50% international. The Full-Time M.B.A. degree requires 67 hours of study consisting of a total of 20 classes (9 core required courses and 11 electives) and an additional 3-credit course on Communicating Business Decisions. Entrants in September complete the M.B.A. course requirements in six 10-week academic quarters with an internship in the summer between the first and second years of study. The January entrance option allows candidates to complete the full-time program in 18 months (six consecutive quarters), without engaging in an internship.
The first year of the Full-time M.B.A. Program is divided into three quarters (Fall, Winter, and Spring), followed by a summer-long internship (not applicable for the accelerated 18-month option). During each of the first three quarters students are assigned to teams of four-to-five students. During the second year, which consists entirely of electives that allow students to focus on their preferred concentration, students form their own teams.
The Full-time M.B.A. program leverages Simon's economics-based approach and [cross-functional curriculum] to ensure that graduates have a fundamental understanding of the economic and managerial theory, as well as their applications in the business environment.
Simon's Part-time M.B.A. program offers the same educational opportunities and choices for a concentration as the full-time M.B.A. program, but through evening courses, tailored for individuals who are working while completing the degree. Students may enter the program at four different times of the year and choose the pace at which to complete their degree.
Students in the M.B.A. program have the opportunity to graduate with one or several concentrations. Some of the major areas of study include Accounting and Information Systems, Business Environment and Public Policy, Business Systems Consulting, Competitive and Organizational Strategy, Computer and Information Systems, Corporate Accounting, Electronic Commerce, Entrepreneurship, Finance, Health Sciences Management, International Management, Marketing, Operations Management, and Public Accounting.
[edit] Executive M.B.A. programs
The Simon Executive M.B.A. Program is offered on the Rochester campus, as well as in Bern, Switzerland in conjunction with the Institut für Finanzmanagement at the Universität Bern. The partnership adds a global perspective to both the Rochester and European programs. The Bern program is equivalent to the Rochester program and is taught by Simon School faculty and European scholars. Managers are sponsored by their organizations and earn a University of Rochester degree. Like Rochester’s Executive M.B.A. students, the Bern students come from a wide variety of countries and cultures. Bern students spend their six-week summer term in Rochester. During their Rochester stay, European students study with Rochester students on teams, giving students from both programs the chance to experience the various cultural business perspectives. In addition, students from both sides of the ocean widen their business network to include colleagues from around the world.
[edit] M.S. programs
In addition to the M.B.A. programs, Simon offers several one-year long Master of Science Programs in Accountancy, Finance, Marketing, General Management, Information Systems Management, Manufacturing Management, Service Management, as well as Technology Transfer and Commercialization. The University of Rochester's Hajim School of Engineering and Applied Sciences also offers a Master of Technical Entrepreneurship and Management (T.E.A.M.) program, with some courses completed at the Simon School.
[edit] Ph.D. and doctoral study
As a business school with an outstanding history of academic research, the Simon School offers an extensive Ph.D. program with a variety of concentrations. Introduced in 1965, the Simon Ph.D. program offers students an intentionally small, highly-selective academic environment that is anchored by a world-class research faculty. Faculty members edit a number of highly ranked journals that are based at the School, and their research has had a significant effect on a number of areas of business. Interaction between faculty and students is encouraged. Traditionally, Simon faculty members have an open door policy for Ph.D. students.
The most common fields for Ph.D. majors among doctoral students are Accounting, Competitive and Organizational Strategy, Finance, Marketing, Computer and Information Systems, and Operations Management. Regardless of the major, all students start with the first year, called the core building a firm foundation of mathematics, statistics and economics. While the majority of the courses are taken in common by all the incoming students, there is some specialization. This specialization gets more intense in the second year when the students concentrate on their major and minor fields of study.
The School's consistent quality of teaching and research resulted in 58 percent majority of its graduates attaining academic positions in top business schools, with 20% getting their first job in a top-10 ranked business school. Overall, Simon has the highest percentage of Ph.D. graduates tenured at the most prestigious business schools in the U.S.
[edit] History
The University of Rochester started a small business program in 1958, and awarded its first M.B.A. degree in 1962, but the School’s impact in the business world can really be traced to a later decision by then University President W. Allen Wallis to create a first-class business school in Rochester. In 1964, he recruited as dean a visionary who believed in the power of economics to solve a host of problems.
William H. Meckling—who would remain dean for 19 years—was already a noted economist when he arrived in Rochester, best known for his analysis and leadership in support of an all-volunteer U.S. armed service. As dean, he committed the School to an economics-based approach to problem solving, recruited a first-rate faculty, required that all research at the School have an empirical orientation, initiated new finance and accounting journals that incorporated economics, eliminated traditional boundaries between functional departments, and transformed what had been a small, undergraduate and evening business school into a leading graduate business program.
As a result of pioneering work by Meckling and Michael C. Jensen, one of the talented young faculty members he recruited, and groundbreaking work by other faculty members, the School became known for making enormous contributions in the critical areas of [finance], [accounting] and [organizational theory]. The faculty’s contributions, in turn, helped shape the research agenda of a generation of business scholars around the globe, influencing teaching in graduate business programs and forever changing how many companies and executives in this country and abroad conduct business.
In 1986, another milestone in the School’s history occurred when the School was renamed the William E. Simon Graduate School of Business Administration. William E. Simon, a financial entrepreneur and former U.S. Treasury Secretary, believed strongly in the principles and ideals of the School. He offered not only his name, but also an enduring financial commitment to the School’s continued success. He chaired the Executive Advisory Committee from its inception in 1986 until his death in June 2000.
Today, the School flourishes and thrives as a leading business school, offering both the highest quality business education and cutting-edge research by an internationally renowned faculty. Mark Zupan - who succeeded Charles Plosser, the current President of the Federal Reserve Bank of Philadelphia - has served as Dean of the Simon School since 2004 and was reappointed to a second, five-year term, in January 2009.
[edit] Rankings
The school consistently ranks among the top 30 business schools in US. Most notably, it enjoys a distinguished reputation as a top 10 B-school in Finance and Accounting concentrations. The Simon School faculty is known internationally for leading scholarship in management-related areas. Their cutting edge research is published in top-tier journals, and several members serve as editors of leading journals, including three published disciplines. Simon faculty members conduct research on issues which cross traditional functional lines.
Business Week
- No. 1 for return on investment among private U.S. business schools, October 2008
- No. 4 for return on investment among U.S. business schools, October 2008
- No. 9 for Most Improved B-school
- No. 10 in Accounting
- No. 14 for Innovative Curriculum
- No. 20 in Finance
- No. 21 for Operations/production
- No. 22 for Competing Globally
- No. 25 for Analytical Skills
- No. 26 in Career Services
U.S. News & World Report Ranked among the top 30 U.S. business schools in 16 of the 19 years since the annual survey’s inception in 1990.
- No. 29 in the April 2009 survey
- No. 13 in Finance
- No. 25 in Accounting
Financial Times of London Global Rankings
- No. 2 in the world for finance
- No. 4 in accounting
- No. 5 in the world for managerial economics
The Wall Street Journal
- No. 4 among the nation’s top regional business schools (September 2007)
- No. 9 for finance
[edit] Academic contributions and research
Several important innovations in business economics were developed by faculty at the school, including advances to agency theory and positive accounting theory. The school is also home to three of the most prestigious academic field journals in management: the Journal of Accounting and Economics, the Journal of Financial Economics, and the Journal of Monetary Economics.
[edit] See also
[edit] External links
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