Yale School of Management

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Yale School of Management
Yale SOM Shield
Motto Novus Ordo Seclorum (Latin)
Mission Educating leaders for business and society
Established 1976
Type Private business school
Endowment U.S. $625 million (2008)
Dean Sharon Oster
Faculty 97 (including joint faculty)
Students 382 (MBA)
Location United States New Haven, Connecticut, U.S.
Website www.mba.yale.edu

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, United States. The School offers M.B.A. and Ph.D. degree programs. As of spring 2009, 382 students were enrolled in its Master of Business Administration program. The School has 97 faculty members (including joint faculty) and the dean is Sharon Oster.

Contents

[edit] About the School

The School conducts education and research in leadership, economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas; its most acclaimed programs are finance and strategic management. The School offers a wide range of graduate-level academic programs and concentrations. The School is known for its finance faculty, emphasis on ethics, and International Center for Finance. The School has also recently added an Executive MBA in Healthcare degree designed for professionals in the health care industry. The School cosponsors (with the Divinity School) a seminar on faith and globalization instructed by former British Prime Minister Tony Blair. The school also offers a student exchange program with the London School of Economics.

The campus includes 19th-century mansions and contemporary buildings. Donaldson Commons, the school's main dining facility, is named after the founding dean of the School. A planned new campus and main building, at an estimated cost of US $150 million, is scheduled for completion by 2013. On September 17, 2007, Yale University President Richard Levin announced that renowned architectural firm Foster + Partners was selected to build the new campus. Preliminary renderings were released in December 2008.[1]

The five most represented undergraduate universities in the MBA student body for the combined classes of 2010-2011 are (in descending order) Yale University, Harvard University, University of Pennsylvania, Cornell University, and Columbia University. For the class of 2007, mean base salary upon graduation was $99,307. Mean signing bonus was $26,318. The mean for other guaranteed compensation was $27,170.[2]

[edit] History

Steinbach and Evans Halls of the Yale School of Management

The School was founded in 1976 by William H. Donaldson, founder of Donaldson, Lufkin & Jenrette and former Chairman of the Securities and Exchange Commission, as the Yale School of Organization and Management. The funds to establish the School materialized when Frederick William Beinecke, a Yale College alumnus, left US $15 million to Yale in 1971. The School awarded its first graduate business degrees in 1978 and was renamed the Yale School of Management in 1994.

[edit] Deans

Name Years as Dean
1 William H. Donaldson (1976–1980)
2 Geoffrey C. Hazard, Jr. (1980–1981)
3 Burton G. Malkiel (1981–1988)
4 Michael E. Levine (1988–1992)
5 Paul MacAvoy (1992–1994)
6 Stanley Garstka (1994–1995)
7 Jeffrey Garten (1995–2005)
8 Joel M. Podolny (2005–2008)
9 Sharon Oster (2008–Present)

[edit] Integrated Curriculum

For the 2006-2007 academic year, the School introduced its "Integrated Curriculum," an effort to move away from the typical "siloed" teaching approach to a more functional and integrated perspective.[3] As part of the Integrated Curriculum, first year students examine various roles that people and organizations play and how they affect a business: internal roles include employee, operations engine, finance manager, and innovator; external roles include investor, customer, competitor, the State and society. Also, first-year students take at least one elective and are required to spend two weeks studying abroad, meeting with business leaders and government officials in Brazil, China, India, Ghana, Egypt, Israel, Japan, UAE, or elsewhere. The second-year curriculum comprises electives. The new curriculum is unique among those offered by leading business schools.[4]

[edit] Admissions and rankings

Admission to the School is very competitive; for the class of 2010, 14% of applicants were admitted. The average GMAT score and undergraduate GPA of the class of 2010 rank in the top 3 and top 5 of graduate business programs, respectively. The average quantity of full-time, post-collegiate work experience was 5 years.

Yale is consistently ranked among the top MBA programs in the US. The following rankings are current as of October 2009.

  • #2 The Aspen Institute, US Rankings [5]
    • #1 for Coursework
  • #7 The Princeton Review, "Best Career Prospects" [6]
    • #9 "Toughest to Get Into" [7]
  • #8 The Wall Street Journal [8]
    • #1 for Corporate Social Responsibility
    • #2 for Recruiting in Financial Services
    • #3 for Ethics
    • #8 for Finance
    • #8 for Innovative Graduates
    • #8 for Recruiting Women
    • #8 for Strategy
  • #9 Financial Times, US MBA programs [9]
    • #2 Best in Accountancy [10]
    • #2 Best in Corporate Social Responsibility
    • #3 Best in Economics
    • #5 Best in Corporate Strategy
    • #10 Top Salaries in Consulting
  • #10 U.S. News & World Report [11]
    • #1 for Nonprofit [12]
  • #13 The Economist, US MBA Programs [14]
  • #24 Businessweek [15]

[edit] Student life

SOM Logo.jpg

Students at the School, like all Yale University students and alumni, are called "Yalies" or "Elis" after Elihu Yale. They operate more than 50 MBA student clubs. There are career-oriented clubs such as Finance, Private Equity, Biotechnology, Investment Management, Technology, Marketing and Consulting. There are also clinic type clubs, such as Global Social Enterprise and SOM Outreach, through which students complete pro bono consulting engagements with local and international non-profits. There are also athletic clubs including soccer, crew, skiing, and squash. SOM participates in the coed MBA ice hockey tournaments during winter months. The Yale SOM Cup soccer tournament is held in October and attracts clubs from numerous top business schools. Each November, many students attend the Harvard-Yale football game (known as "The Game"), the location of which alternates each year between New Haven and Cambridge. The weekend's activities include the Harvard-Yale Leadership & Ethics Debate, an annual contest between the two schools' MBA students.[16] Yale MBA students, like other members of the Yale graduate student community, frequent Gryphon’s Pub, the bar owned and operated by GPSCY (Graduate and Professional Students Center at Yale).[17]

More graduates of the Yale School of Management enter management scholarship than do their contemporaries at other graduate schools of business, with more MBA graduates entering doctoral programs in business.

[edit] Research and endowment

The School is home to the following research centers:

The School's endowment fund, valued at US $625 million in late 2008, is part of the larger Yale University endowment. The endowment is primarily used according to the donors' wishes, which include the support of teaching and research. Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades.[18]

[edit] Joint-degree and scholarship programs

The School's joint-degree programs include the MBA/JD with Yale Law School, MBA/MD with Yale School of Medicine, MBA/PhD with Yale Graduate School of Arts and Sciences, MBA/MEM with Yale School of Forestry and Environmental Studies, MBA/MArch with Yale School of Architecture, MBA/MFA with Yale School of Drama, MBA/MDiv or MBA/MAR with Yale Divinity School, MBA/MPH with Yale School of Public Health, MBA/MA in International Relations with Yale Graduate School of Arts and Sciences, and MBA/MA in Russian and East European Studies with Yale Graduate School of Arts and Sciences.

The School also offers the Silver Scholars Program for exceptional college seniors. Among traditional MBA applicants, approximately 30% of incoming students receive merit-based academic scholarships based on prior academic performance, evidence of leadership potential, and standardized test scores.

For students interested in pursuing careers in government or non-profit sectors, Yale SOM offers a generous loan forgiveness policy. Eligible alumni may apply at any time during the first 10 years following graduation. Graduates with incomes of $77,600 or less who work full-time for government or nonprofit organizations receive full reimbursement for their annual debt repayment on need-based loans. Those who make more than $77,600 can receive partial loan forgiveness.[1]

[edit] Prominent faculty

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Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2009)
  • Paul Bracken - specialist in global competition and the strategic application of technology in defense and business; member of the Chief of Naval Operations Executive Panel and US Joint Forces Command Transformation Advisory Group
  • David M. Cromwell - former president and CEO of JPMorgan Capital Corporation
  • Frank J. Fabozzi - Editor, Journal of Portfolio Management; prolific investment book author
  • Gary Gorton - expert in stock and futures markets, banking, and asset pricing; Editor, Review of Economic Studies
  • Roger G. Ibbotson - Chairman, Chief Investment Officer, and co-founder of Zebra Capital Management, LLC, an equity hedge fund management firm; founder of Ibbotson Associates (a division of Morningstar, Inc.); financial markets expert and co-author of Global Investing
  • Edward H. Kaplan - operations research specialist; recipient of the Lanchester Prize and the Edelman Award
  • Barry Nalebuff - game theory specialist; co-founder of Honest Tea, Inc., a fast-growing beverage company
  • Sharon Oster - competitive strategy authority; author of Modern Competitive Analysis
  • Robert Shiller - behavioral finance expert; Chief Economist and co-founder of MacroMarkets, LLC, a financial markets firm; author of Irrational Exuberance, Market Volatility, The New Financial Order: Risk In The 21st Century, and Macro Markets; co-developer of the Case-Shiller index
  • Jeffrey Sonnenfeld - President and founder, The Chief Executive Leadership Institute
  • David Swensen (adjunct) - Yale University Chief Investment Officer; manager of US $18 billion university endowment portfolio; developer of the Yale Model of investing; author of Pioneering Portfolio Management
  • Arthur Swersey - specialist in production and inventory management, quality management, and mathematical modeling
  • Victor Vroom - pioneer of expectancy theory
  • Martin J. Whitman (adjunct) - Chairman, Chief Executive Officer, and Chief Investment Officer of Third Avenue Funds; author of The Aggressive Conservative Investor and Value Investing

[edit] Prominent alumni

Harkness Tower, situated in the Memorial Quadrangle at Yale

Also see: List of Yale University people

[edit] Notes

  1. ^ http://www.designnewhaven.com/2008/12/lord-norman-foster-unveils-svelte-glass.html
  2. ^ http://mba.yale.edu/careers/employment/salary.shtml
  3. ^ "MBA curriculum changes at Yale and Stanford". The Economist Magazine. http://www.economist.com/business/displaystory.cfm?story_id=9149115. Retrieved 2007-06-08. 
  4. ^ "M.B.A. Programs Blend Disciplines To Yield Big Picture". Wall Street Journal. http://online.wsj.com/article/SB115257738700702887.html?mod=googlenews_wsj. Retrieved 2007-06-29. 
  5. ^ "Rankings: Top Ten Lists". The Aspen Institute. http://www.beyondgreypinstripes.org/rankings/topten.cfm. Retrieved 2009-10-24. 
  6. ^ "Best Business Schools: Ranked - Best Career Prospects". The Princeton Review. 2009. http://www.princetonreview.com/schoollist.aspx?type=r&id=771. Retrieved 2009-10-24. 
  7. ^ "Best Business Schools: Ranked - Toughest to Get Into". The Princeton Review. 2009. http://www.princetonreview.com/schoollist.aspx?type=r&id=774&RDN=1. Retrieved 2009-10-24. 
  8. ^ "Where the Schools Rank". The Wall Street Journal. 2007. http://online.wsj.com/public/resources/documents/MB_07_Scoreboard.pdf. Retrieved 2008-02-27. 
  9. ^ "Financial Times MBA 2009". Financial Times. 2008. http://rankings.ft.com/businessschoolrankings/global-mba-rankings. Retrieved 2009-05-09. 
  10. ^ "A League of Their Own". Financial Times. http://www.ft.com/cms/s/2/de87998a-e173-11dd-afa0-0000779fd2ac,dwp_uuid=3d473b3c-dda6-11dd-930e-000077b07658.html. Retrieved 2009-05-09. 
  11. ^ "America's Best Graduate Schools 2010". U.S. News & World Report. L.P.. http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-business-schools/rankings. Retrieved 2009-05-09. 
  12. ^ "America's Best Graduate Schools 2010, Specialty Rankings". U.S. News & World Report. L.P.. http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top-business-schools/nonprofit. Retrieved 2009-05-09. 
  13. ^ "The Best Business Schools". Forbes.com. Forbes.com LLC. http://www.forbes.com/2009/08/05/best-business-schools-09-leadership-careers_land.html. Retrieved 2009-10-24. 
  14. ^ "2009 Rankings". The Economist. http://mba.eiu.com/index.asp?layout=2002rankings&rank_category_id=20000002&region_id=280000428&x=2&y=5. Retrieved 2009. 
  15. ^ "Business School Rankings and Profiles". Businessweek. http://www.businessweek.com/bschools/rankings/full_time_mba_profiles/yale.html. Retrieved 2008-11-13. 
  16. ^ "Annual HBS-Yale MBA Leadership Debate". The Harbus. http://media.www.harbus.org/media/storage/paper343/news/2005/12/05/News/Eighth.Annual.HbsSom.Grudge.Match.Taken.By.Yale-1120467.shtml. Retrieved 2007-06-27. 
  17. ^ http://www.yale.edu/gpss/GPSCY_Bar/gryphons.html
  18. ^ "The Money Game". Fortune Magazine. http://money.cnn.com/magazines/fortune/fortune_archive/2005/10/03/8356742/index.htm. Retrieved 2007-06-08. 

[edit] See also

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[edit] External links

Coordinates: 41°18′56″N 72°55′26″W / 41.315481°N 72.923789°W / 41.315481; -72.923789

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