Yale School of Management

Yale University, Yale School of Management History

Yale University, founded in 1701, is a private, coeducational institution. The 305-acre campus is located in an urban area 75 miles east of New York City. Total undergraduate and graduate enrollment is 11,416.

The Yale School of Management was founded in 1974 and is located on the main campus, in its own building, within a complex of interconnected buildings. The basic educational approach is to integrate disciplines that have traditionally been taught in separate classes, such as economics and marketing, into new multidisciplinary courses, creating a richer, more relevant context for students to learn the concepts they need to succeed as managers.

Yale University, Yale School of Management Academics

The Yale SOM offers the Master of Business Administration (MBA) as well as a doctoral program in finance, accounting, and marketing, and a joint degree in law, medicine, architecture, drama, nursing, divinity, environmental studies, international relations, public health, East Asian studies, international and development economics, and Russian and East European studies. Students may take electives at any Yale graduate school as part of the interdisciplinary program. There is cross-registration with law, forestry, public health, economics, international relations, and others. Cooperative programs and work-study programsincluding teacher assistants and research assistantsare available. Students take required 3-month internships at leading worldwide organizations. Students work with faculty on joint research in a variety of areas. The Yale School of Management inaugurated the International Experience component of its new curriculum, where each first-year student travels to one of 8 destinations around the world. Each trip is linked to one or more of the Organizational Perspective courses through pre-trip preparation and post-trip reporting. The strongest area of study is finance, strategy, and economics. The most popular courses are Marketing Strategy, Venture Capital, Private Equity, Investment Management, Strategic Leadership across Sectors, Game Theory & Strategic Thinking; Competitive Strategy, Negotiation; and Developing Winning Strategies. Regular programs bring distinguished speakers and visiting professors to campus. The Yale School of Management Leaders Forum brings together current leaders in the private, public, and nonprofit worlds with Yale SOM students in discussions on challenges and opportunities facing business and society today. In addition, visiting professors and distinguished speakers are brought into classes on a regular basis and more than 50 special-interest groups invite speakers.

Eighteen total credits are required to complete the MBA, including 10 full-semester courses. Required courses include:

• A series of 8 multidisciplinary courses, called Organizational Perspectives. These courses are being designed by a team of Yale SOM faculty.

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time is 2 years; maximum, 5 years.

There are 56 total full-time graduate business faculty, all of whom hold a doctorate. Faculty salaries are rated well above average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 3; average business class size is 27.

Yale University, Yale School of Management Unique Programs

Library

The Yale Social Science Library houses a collection of more than 11.1 million volumes, 8.1 million microform items, and 227,989 audio/video tapes/CDs, and subscribes to 61,649 periodicals. The business library is particularly strong in finance, particularly historical resources. Students have access to all key databases. Yale’s library facilities are the second largest among university libraries in the world. Yale SOM’s International Center for Finance supports research in financial economics, and MBA students may access the center’s resources, including data technology databases, faculty working papers, Bloomberg resources, and a collection of historical securities.

Computers

Graduate business students must have their own PCs. Ninety-five percent of the school’s public space is wireless, and networking is available in every classroom. Yale SOM has an interactive computer-equipped classroom. Through the use of Terminal Services, Yale SOM provides access to software and various databases directly to each student’s laptop. Kiosks located throughout the school provide access to e-mail, personal data, and network services. Courses utilize on-line course management software.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were finance, strategy, and consulting. Average starting salary of the graduating class was $92,213; range was $47,100 to $165,000. Placement services are extensive. Placement services for alumni include staff devoted to alumni placement and alumni job postings and an alumni networking website. Placement is available through the Career Development Office. Ninety-two percent of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL. They also must submit a translation of their transcripts, proof of health consisting of immunization certifications, and proof of adequate funds to cover 2 years of study. Foreign citizens who are not permanent U.S. residents are eligible to apply for scholarships, and Yale SOM participates in the GATE Loan Program. The application deadline for fall entry is March 15.

Calendar

The school operates on a traditional semester basis. Semesters are 13 weeks long. Graduate programs are offered during the day only and only full-time.

Yale University, Yale School of Management Admissions

A bachelor’s degree is required. A strong mathematics background is required.

The number of applicants for the 2006-2007 class was 2220; 488 were accepted; 208 enrolled. The average GPA was 3.46; average GMAT score was 701. Transfers are not accepted. Minority students are actively recruited through Diversity Receptions, an Explore Diversity weekend, and affiliations with the National Society of Hispanic MBAs, the Robert Toigo Foundation, and Management Leadership for Tomorrow. Student clubs include the Hispanic Advisory Council and the Latin American Student Club.

Students may begin the MBA program in the fall only. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $180, 2 letters of recommendation, and 2 essays (a third is optional). The application deadline is March 14 for fall entry. Students are notified of the admissins decision 3 times per year, depending on the round. The latest acceptable test date for fall entry is March. Once accepted, students may defer admission; a 1- or 2-year deferral is allowed for sufficient reason.

Yale University, Yale School of Management Financial Aid

About 79% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $21,925 annually; maximum $55,652. Stipends and programs available for minority students include Dean’s scholarships and many others. The FAFSA, the school’s own financial statement, and the previous year’s tax return are required. The application deadline is February 16 for fall entry.

Tuition for all students is $35,000 per year. On-campus room and board costs approximately $12,000; books and supplies, $1200; personal expenses, $6000; and other fees, $1452, for an estimated annual total of $55,652. Graduate student housing consists primarily of off-campus apartments within walking distance of campus. University housing is available for married and unmarried students. There is a referral service to help procure off-campus housing.

Yale University, Yale School of Management Students

All of the current graduate business school class are enrolled full time; 98% have had full-time work experience prior to entering graduate school. Thirty-six percent are women, 24% are minorities, and 21% are foreign nationals. The average age at entrance is 28; ages range from 25 to 32. Three percent enter directly from undergraduate school; 21% already have a graduate degree. Students’ undergraduate majors were as follows: 24%, social sciences; 19%, economics; 18%, business; 14%, liberal arts; 13%, math and science; 12%, engineering; and 2%, law. In 2006, 215 graduate business degrees were awarded.