Graduate School of Business

Loyola University Chicago, Graduate School of Business History

Loyola University Chicago, founded in 1870, is a private, coeducational institution affiliated with the Catholic Church (Jesuit). The campus is located in an urban area in Chicago. Total undergraduate and graduate enrollment is 14,764.

The Graduate School of Business was founded in 1966 and is located in its own building, 1 East Pearson, Maguire Hall. The basic educational approach is to present critical problem-solving and decision-making skills, with a global vision and socially responsible leadership experience. Courses combine case studies, projects, lectures, and simulations for a mix of both case method and theoretical concepts.

Loyola University Chicago, Graduate School of Business Academics

The Graduate School of Business offers the Master of Business Administration (MBA), Master of Science in Accountancy (MSA), Master of Science in Human Resources (MSHR), Master of Science in Information Systems Management (MSISM), AND Master of Science in Integrated Marketing Communications (MSISC), as well as joint degrees in law (MBA/JD), nursing (MBA/MSN), pharmacology (MBA/MS), integrated marketing communication (MBA/MSIMC), information systems management (MBA/MSISM), and human resources (MBA/MSHR). Other programs include internships and graduate certificates in Data Warehousing and Business Intelligence and Business Intelligence and Business Ethics. The strongest areas of study are marketing, finance, and international business. The most popular courses are Strategic Management, International Financial Management, Business Ethics, International Marketing, and Organizational Change Development.

Between 14 and 18 total courses are required to complete the MBA, including 8 elective courses or 24 credits. Required courses include:

• Financial Accounting
• Business Ethics
• Managerial Economics
• Strategy and Leadership
• Organizational Behavior
• Financial Management
• Marketing Management
• Managerial Statistics
• Operations Management
• Foundation of Business Modeling
• international elective

Students may eliminate or substitute requirements based on transcript evaluation.

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 1 year; maximum, 5 years. For students attending part time, the minimum is 1<1/2> years; maximum, 5 years.

There are 63 total full-time graduate business faculty, of whom 97% hold a doctorate; there are 55 part-time faculty, of whom 50% hold a doctorate. Faculty salaries are rated average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 6; average business class size is 28.

Loyola University Chicago, Graduate School of Business Unique Programs

Library

The university’s main library houses a collection of more than 1,033,561 volumes, 1,491,801 microform items, 40,000 special business collections, and 15,369 audio/video tapes/CDs, and subscribes to 38,952 periodicals. The business library is particularly strong in labor, securities and futures, business ethics, small and family business, organizational behavior, human resources, finance, marketing, and economics. Students have access to such databases and networks as Dialog, BRS, Lexis/Nexis, and ABI/INFORM. Other opportunities for research consist of research seminars and workshops, individualized research consultation, and remote access to the Loyola on-line catalog.

Computers

Graduate business students need not have their own PCs. The business school has its own computer facilities, consisting of 140 PCs with mainframe connection and all types of software and statistical packages that are available 7:30 a.m. to 10 p.m. at the downtown campus. Other terminals are available 24 hours in residence halls.

Career and Job Placement

In spring 2006, 9 companies recruited on campus. All were national corporations. Majors most in demand were financial analysis/corporate finance, marketing, accounting, human resources, and health care management. Average starting salary of the graduating class was $62,390; range was $44,000 to $136,400. Placement services are extensive. Placement services for alumni include attendance at career management workshops, utilization of the career library and technology center, job search document critique services, and individual appointments, as needed. Placement is available through Business Career Center. Ninety-five percent of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL. International students must score 550 on the Paper-Based TOEFL (PBT) or 79-80 on the Internet-Based (iBT) version. They also must submit a translation of their transcripts, proof of health consisting of evidence of immunization, and proof of adequate funds to cover 1 year of study. Financial aid is available for these students and consists of the Graduate Business Scholars Program. The application deadline for fall entry is August 1.

Calendar

The school operates on a quarter basis. Quarters are 10 weeks long; summer sessions, 10 weeks. Graduate programs are offered during the evening only and weekends.

Loyola University Chicago, Graduate School of Business Admissions

A bachelor’s degree is required, along with a GPA of 2.7 and a GMAT score of 450. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT. Most important admissions factors are academic accomplishments and ability, GMAT results, and work experience. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 717; 519 were accepted; 314 enrolled. The average GPA was 3.2; average GMAT score was 540. Transfers are accepted. Minority students are actively recruited by advertisements in minority-oriented media and attendance at minority-oriented recruiting fairs.

Students may begin the MBA program in the fall, winter, spring, and summer. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $50, 2 letters of recommendation, and a personal essay. The application deadlines are August 1 for fall entry; October 1, winter; February 1, spring; May 1, summer. Students are notified of the admissions decision 2 weeks after all materials are received. The latest acceptable test date for fall entry is July. Once accepted, students may defer admission for approximately 1 year with permission.

Loyola University Chicago, Graduate School of Business Financial Aid

About 95% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total maximum of $13,380. The FAFSA and the previous year’s tax return are required. The application deadlines is March 1 for fall entry.

Tuition for all students is $1007 per credit, or $27,180 per year. Books and supplies cost approximately $1300; personal expenses, $6200; and other fees, $300, for an estimated annual total of $34,980. Graduate student housing is available on and off campus, including at a new state-of-the-art dorm at the Water Tower Campus. There is a referral service to help procure off-campus housing.

Loyola University Chicago, Graduate School of Business Students

Twenty-five percent of the current graduate business school class are enrolled full time; 95% have had an average of 5 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Illinois (67%). Forty-nine percent are women, 20% are minorities, and 15% are foreign nationals. The average age at entrance is 27; ages range from 22 to 52. Eight percent enter directly from undergraduate school; 4% already have a graduate degree. Students’ undergraduate majors were as follows: 49%, business; 14%, economics; 10%, math and science; 9%, social sciences; 8%, liberal arts; 7%, engineering; and 3%, miscellaneous. About 5% of entering students leave by the end of the first year due to academic or personal reasons; 90% remain to receive their degree. In 2006, 329 graduate business degrees were awarded.