Yale School of Management

Yale School of Management

Coat of arms of the School
Motto Novus Ordo Seclorum (Latin)
Motto in English "A New Order of the Ages"
"Educating Leaders for Business and Society"
Established 1976 (1976)
Type Private business school
Academic affiliation Yale University
Location New Haven, Connecticut, USA
Coordinates: 41°18′55″N 72°55′13″W / 41.31528°N 72.92028°W / 41.31528; -72.92028
Dean Edward A. Snyder
Academic staff 86 (including joint faculty)
Students 668[1]
Postgraduates 845, including:
668 MBA
63 MAM
114 EMBA[2]
Doctoral students 51[3]
Website http://som.yale.edu

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Whitney Avenue in New Haven, Connecticut, United States. The School awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University. As of August 2015, 668 students were enrolled in its MBA program, 114 in the EMBA program, 63 in the MAM program, and 51 in the PhD program; 122 students were pursuing joint degrees.[4] Beginning in the 2017-2018 school year, the school will launch a one-year Master of Management Studies degree in Systemic Risk.[5] The School has 86 full-time faculty members, and the dean is Edward A. Snyder.

The School conducts education and research in leadership, behavioral economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas. The EMBA program offers focused study in healthcare, asset management, or sustainability. The School also offers student exchange programs with HEC Paris, IESE, IE Business School, the London School of Economics, the National University of Singapore Business School, and Tsinghua University.[6]

History

Beginning in the 1950s, Yale University started to expand coursework offerings in business and organization management. In 1971, Yale University received a donation establishing a program in management from Frederick W. Beinecke, PhB 1909. Two years later, the Yale Corporation approved the establishment of a School of Organization and Management. Arriving in 1976, the first class of the two-year program that awarded a master's degree in public and private management (MPPM) attended the campus on Hillhouse Avenue.[7]

Founders Hall, the school's former main building

Historically known for its strength in studies regarding nonprofits and the public sector, the school's focus began to evolve and changed its name to the Yale School of Management in 1994.[8] Shortly thereafter in 1999, the School began offering a master of business (MBA) degree and discontinued the MPPM degree.[9]

Steinbach Hall, a mansion formerly used by the school on Hillhouse Avenue

Yale SOM launched an executive MBA program for healthcare professionals in 2005, and in 2006 it introduced its mandatory, team-taught "Integrated Curriculum" for all MBA students.[10]

Concurrently in 2012, SOM launched the Global Network for Advanced Management (GNAM) and the Master of Advanced Management (MAM) program, a one-year program in advanced leadership and management courses, open to students who have earned or are earning an MBA or equivalent degree from GNAM member schools.[11]

In 2014, Yale SOM enrolled its first class of students in an expanded MBA for Executives program, offering the Yale MBA integrated core along with advanced study in asset management, healthcare, or sustainability. That same year in January, SOM's new building, Edward P. Evans Hall, opened at 165 Whitney Avenue, one block away from the old campus on Hillhouse Avenue.[12]

Campus

Front of Evans Hall

Edward P. Evans Hall, a 249,743-square-foot building named after the Yale alumnus who donated $50 million to the school, is the new home for Yale School of Management as of January 2014.[13] The building, capturing the retro-futuristic bimorphic architectural spirit, is located at the northern end of the Yale University campus at 165 Whitney Avenue on 4.25 acres and cost a reported $189 million.[14][15]

An inaugural conference entitled "Business + Society: Leadership in an Increasingly Complex World" marked the opening of the new campus. The three-day conference examined major trends transforming markets and organizations around the world.[16]

Foster + Partners,the firm chaired by Pritzker Architecture Prize Laureate Lord Norman Foster ARCH ’62, designed the building with Gruzen Samton stated as the Architect of Record. Edward P. Evans Hall houses technology-enabled classrooms, faculty offices, academic centers, and student and meeting spaces organized around an enclosed courtyard.[17]

MAM program

The Master of Advanced Management program is a one-year program based at SOM's New Haven campus for business students from Global Network for Advanced Management schools. All MAM students matriculate into the MAM program immediately after their graduation from their respective business schools to continue the studies at SOM.

MAM students participate in a required series of courses and discussions oriented around major trends in global business and the role of business leaders, and customize their experience by choosing electives from throughout Yale University.

The MAM class of 2016 is composed of 63 students from 34 countries and 20 Global Network for Advanced Management schools and is 38% women.[18]

MBA program

Business school rankings
Worldwide overall
QS[19] 16
U.S. News & World Report[20] 11
Worldwide MBA
Business Insider[21] 9
Economist[22] 15
Financial Times[23] 18
U.S. MBA
Bloomberg Businessweek[24] 11
Forbes[25] 11
U.S. News & World Report[26] 8
Vault[27] 12

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 integrated perspective.[28] This new curriculum was designed with two primary components: foundational classes in a program called "Orientation to Management" and a set of classes called "Organizational Perspectives" that incorporate many aspects of traditional business classes into multi-disciplinary topics.[29][30]

Orientation to Management

The Orientation to Management is the first segment of the curriculum, which introduces students to core concepts and business skills. The constituent courses include Managing Groups and Teams, Global Virtual Teams, Basics of Accounting, Probability Modeling and Statistics, Basics of Economics, Modeling Managerial Decisions, and Introduction to Negotiation.[31]

Organizational Perspectives

The core of the integrated curriculum and first-year experience is a series of interdisciplinary, team-taught master classes called Organizational Perspectives. These courses include Employee, Innovator, Operations Engine, Sourcing and Managing Funds, Competitor, Customer, Investor, The Global Macro-economy, and State and Society.[32] The final Organizational Perspectives Course, the Executive, focuses on solving a series of case studies involving cross-national or global business challenges and draw on the subject matter taught in the other Organizational Perspectives courses and Orientation to Management skills.[33]

The Organizational Perspectives courses draw from multi-media "raw" cases developed by SOM and the Global Network for Advanced Management peer schools on topics from real-world challenges facing business, government, and nonprofit organizations.[34]

Electives

MBA Candidates are able to take electives courses at the School of Management during their second semester of their first year and all throughout their second year.[35] These electives include traditional instruction as well as independent reading and research with professors and instructors.[36]

SOM students are also permitted to enroll in the 1000+ classes offered by other graduate and professional schools and at Yale University including the Yale Graduate School of Arts and Sciences, Yale Law School, Yale School of Public Health, and undergrad classes at Yale College.[37]

Global Studies Requirement

MBA candidates are required to complete a Global Studies Requirement prior to graduation. This requirement can be fulfilled a number of ways including an International Experience Course, a Global Network Week, a Global Network Course, The Global Social Entrepreneurship Course, the Global Social Enterprise Course, or a term-long international exchange with a partner school.[38]

MBA for Executives

The MBA for Executives at SOM during the 2015–2016 academic year includes 63 students, 41% of whom are women.[39] Graduates of the MBA for Executives program go through the full integrated core curriculum. They also take advanced management courses as well as colloquia and advanced courses in one of three areas of focus: healthcare, asset management, or sustainability.[40]

Admission

Admission requirements for the MBA include an earned four-year bachelor's degree from an accredited U.S. institution or the international equivalent, completion of an online application form and essay, GMAT or GRE score, academic transcripts, two professional recommendations, and completion of video questions. The application process has three rounds.[41]

During the 2014–2015 applications cycle for the MBA Class of 2017, applications were up 25%.[42] The MBA Class of 2017 has a median GMAT score of 720 with the middle 80% GMAT range being 690–760 and a median undergraduate GPA of 3.6 with a middle 80% undergrad GPA range of 3.23–3.88.[43] The 326 members of the Class of 2017 are made up of 40% women, 40% international students, and 10% under-represented U.S. minorities.[44]

Class MBA Class of '18 MBA Class of '17 MBA Class of '16 MBA Class of '15
Students 334 326 323 291
Women 43% 40% 37% 39%
International Students* 46% 40% 39% 32%
Average GMAT 725 720 720 720
Middle 80% GMAT range 690–760 690–760 680–760 690–740
Average undergrad GPA 3.63 3.6 3.56 3.6
80% undergrad GPA 3.31-3.91 3.23–3.88 3.17–3.87 3.36–3.8

[45] [46] International Students is a metric of "Intentional Passport Holders"

Employment statistics

For the MBA Class of 2014, the full-time median salary upon graduation was $110,000 with median other guaranteed compensation being $35,000.[47]

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 or MF 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, and MBA/MA in Global Affairs with the Jackson Institute for Global Affairs.[48]

The School also offers the Silver Scholars Program for exceptional college seniors. Silver Scholars matriculate immediately from undergrad into the School of management and participate in a one-year internship after completing the first year of the Integrated Core Curriculum.[49] Following their internship, Silver Scholars return to campus to complete their MBA coursework.[50] In some circumstances, Silver Scholars receive permission to extend their internships by an additional year.[51]

Graduates who meet income eligibility requirements and who work full-time for government or nonprofit organizations can receive full or partial loan reimbursement for their annual debt repayment on need-based loans.[52] While there are other programs that offer direct MBA admissions to college seniors too, the Yale Silver Scholars is unique in offering a mid-program internship. [53]

Student life

Students at the School, like all Yale University students and alumni, are called "Yalies" or "Elis" after Elihu Yale; they are also known as "SOMers." They operate more than 40 MBA student clubs.[54] There are career-oriented clubs such as Finance, Private Equity, Investment Management, Technology, Marketing, and Consulting.[55] There are clinic-type clubs, such as Global Social Enterprise and Outreach Nonprofit Consulting, through which students complete pro bono consulting engagements with local and international non-profits.[56] There are also athletic clubs including soccer, frisbee, crew, skiing, and squash. SOM participates in the coed MBA ice hockey tournaments during winter months.[57] 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. 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).[58]

Alumni and Student Giving

The Yale School of Management raised more than $3 million from a record 51.9% alumni in fiscal year 2016, the third straight year of 50%+ participation.[59] SOM is the business school with the second-highest alumni participation in annual charitable contributions, behind Dartmouth Tuck School of Business at 70+% contribution and ahead of the The University of Virginia Darden School of Business at 42% participation according to 2015 statistics. [60]

The graduating MAM, MBA, and Executive MBA classes of 2016 all had a 100% contribution rate towards their class gifts prior to commencement.[61]

Doctoral program

The doctoral program at Yale SOM is a full-time, in-residence program intended for students who plan scholarly careers involving research and teaching in management.[62] There are five major tracks for PhD students follow at SOM: Accounting, Finance, Marketing, Operations, and Organizations and Management.[63]

The program is designed to be completed in four or five years.[64] The curriculum for the first two years of PhD candidates is composed of 14 courses .[65] The program is small and admits only a few highly qualified students each year; there are currently 51 doctoral candidates in the program.[66]

Global Pre-MBA Leadership Program

The school offers a Global Pre-MBA Leadership Program that introduces recent college undergraduates from cultural backgrounds that are under-represented in graduate management education to the benefits of an MBA degree.[67]

Master of Management Studies in Systemic Risk

A new degree, the Masters of Management Studies in Systemic Risk will be issued during the 2017-2018 school year.[68] The program will focus on finance and regulatory studies, with students being nominated by their parent financial and regulatory institutions for admission into the program.[69]

Research and endowment

The School is home to the following research centers and programs:

The School's endowment fund was valued at US $743 million in 2016, which is the sixth largest endowment of any US business school and third highest endowment per student.[80][81] Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades.[82]

Prominent faculty

Steinbach Hall Tower
Dean Years
1 William H. Donaldson (1975–1980)
2 Geoffrey C. Hazard, Jr. (1980–1981)
3 Burton G. Malkiel (1981–1987)
4 Merton J. Peck (1987–1988)
5 Michael E. Levine (1988–1992)
6 Paul MacAvoy (1992–1994)
7 Stanley Garstka (1994–1995)
8 Jeffrey Garten (1995–2005)
9 Joel M. Podolny (2005–2008)
10 Sharon Oster (2008–2011)
11 Ted Snyder (2011–Present)

Notable alumni

Also see: List of Yale University people

See also

Notes

  1. ↑ "Yale SOM overview".
  2. ↑ http://som.yale.edu/apply
  3. ↑ http://som.yale.edu/apply
  4. ↑ http://som.yale.edu/apply
  5. ↑ http://som.yale.edu/news/2016/07/yale-som-to-offer-master-s-degree-in-systemic-risk
  6. ↑ http://som.yale.edu/programs/mba/curriculum/international-offerings
  7. ↑ http://www.yale.edu/printer/bulletin/pdffiles/som.pdf
  8. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  9. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  10. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  11. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  12. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  13. ↑ http://www.architectmagazine.com/design/buildings/edward-p-evans-hall-designed-by-foster-partners_o
  14. ↑ http://epefoundation.org/yale/
  15. ↑ http://www.architectmagazine.com/design/buildings/edward-p-evans-hall-designed-by-foster-partners_o
  16. ↑ http://som.yale.edu/our-approach/edward-p-evans-hall/opening-events/business-society-leadership-increasingly-complex-world
  17. ↑ "Supporting an Integrated MBA Curriculum". BVH Integrated Services, PC.
  18. ↑ http://som.yale.edu/news/2015/08/mam-class-2016-arrives-yale-som
  19. ↑ "QS World University Rankings by Subject 2016 - Business & Management Studies". Quacquarelli Symonds. 2016. Retrieved 2016-10-30.
  20. ↑ "Best Global Universities for business and economics". U.S. News & World Report. 2016. Retrieved 2016-11-27.
  21. ↑ "The 50 best business schools in the world". Business Insider. 2015. Retrieved 2016-02-06.
  22. ↑ "Full time MBA ranking". Economist. 2015. Retrieved 2016-02-06.
  23. ↑ "Global MBA Ranking". Financial Times. 2016. Retrieved 2016-02-06.
  24. ↑ "Best Business Schools 2016". Bloomberg Businessweek. 2016-11-16.
  25. ↑ "The Best Business Schools". Forbes. 2015. Retrieved 2016-02-06.
  26. ↑ "Best Business Schools". U.S. News & World Report. 2015. Retrieved 2016-02-06.
  27. ↑ "Best Business Schools". Vault.com. 2015. Retrieved 2016-02-09.
  28. ↑ "MBA curriculum changes at Yale and Stanford". The Economist Magazine. 2007-05-10. Retrieved 2007-06-08.
  29. ↑ http://som.yale.edu/programs/mba/curriculum/integrated-curriculum
  30. ↑ Alsop, Ronald (2006-07-11). "M.B.A. Programs Blend Disciplines To Yield Big Picture". Wall Street Journal. Retrieved 2007-06-29.
  31. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  32. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  33. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  34. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  35. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  36. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  37. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  38. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  39. ↑ http://som.yale.edu/news/2015/07/yale-som-welcomes-diverse-mba-executives-class-2017
  40. ↑ http://som.yale.edu/programs/emba/curriculum/integrated-curriculum
  41. ↑ http://som.yale.edu/programs/mba/admissions/application-information/faq
  42. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  43. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  44. ↑ http://som.yale.edu/our-programs/full-time-mba/student-experience/class-profile
  45. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  46. ↑ http://poetsandquants.com/2016/08/31/yale-som-strongest-class-12-years/2/
  47. ↑ http://som.yale.edu/our-programs/mba/careers/employment-report
  48. ↑ http://som.yale.edu/programs/joint-degree
  49. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  50. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  51. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  52. ↑ http://som.yale.edu/programs/mba/admissions/financing-your-mba/loan-forgiveness
  53. ↑ http://www.gyanone.com/blog/yale-silver-scholars/
  54. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  55. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  56. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  57. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  58. ↑ http://www.yale.edu/gpss/GPSCY_Bar/gryphons.html
  59. ↑ http://som.yale.edu/news/2016/07/yale-som-reaches-new-fundraising-milestones
  60. ↑ http://www.beatthegmat.com/mba/2015/08/21/record-alumni-giving-at-tuck-raises-more-funds-than-any-prior-year
  61. ↑ http://yaledailynews.com/blog/2016/04/29/prof-schools-sees-variance-in-class-gift-participation/
  62. ↑ http://som.yale.edu/overview
  63. ↑ http://som.yale.edu/overview
  64. ↑ http://som.yale.edu/our-programs/phd/admissions/frequently-asked-questions
  65. ↑ http://som.yale.edu/our-programs/doctoral-program/curriculum
  66. ↑ http://som.yale.edu/apply
  67. ↑ http://som.yale.edu/our-programs/global-pre-mba-leadership-program
  68. ↑ http://som.yale.edu/news/2016/07/yale-som-to-offer-master-s-degree-in-systemic-risk
  69. ↑ http://som.yale.edu/news/2016/07/yale-som-to-offer-master-s-degree-in-systemic-risk
  70. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  71. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  72. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  73. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  74. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  75. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  76. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  77. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  78. ↑ http://yaledailynews.com/blog/2015/08/20/yale-hosts-historic-master-class-on-financial-crises/
  79. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  80. ↑ http://poetsandquants.com/2016/04/04/businessschoolendowments/3/
  81. ↑ http://poetsandquants.com/2016/04/04/businessschoolendowments/4/
  82. ↑ Vickers, Marcia (2005-10-03). "The Money Game". Fortune Magazine. Retrieved 2007-06-08.
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