University of Illinois MBA Program

University of Illinois at Urbana-Champaign, University of Illinois MBA Program History

University of Illinois at Urbana-Champaign, founded in 1867, is a public, coeducational institution. The 700-acre campus is located in a suburban area 140 miles south of Chicago. Total undergraduate and graduate enrollment is 41,938.

The University of Illinois MBA Program was founded in 1938 and is located on the main campus. Courses also are offered at Chicago (Executive MBA and MS Taxation). The basic educational approach is to offer an integrated, adaptive curriculum that helps students develop leadership, decision-making, interpersonal, and communication skills. Students become experts in handling information technology, understand the complexities of the global marketplace, and apply theory to business problems. Project- and team-based experiences and advanced technologies and innovative methodologies are emphasized.

University of Illinois at Urbana-Champaign, University of Illinois MBA Program Academics

The Illinois MBA offers the Master of Business Administration (MBA), Master of Accounting Science (MAS), Master of Science in Taxation (MST), Master of Science in Policy Economics (MSPE), Master of Science in Business Administration (MSBA), Master of Science in International Finance (MSF), Master of Science in International Accountancy (MSAcc), and Executive Master of Business Administration (EMBA) as well as a doctoral program in business administration, accountancy, economics, and finance, and a joint degree in architecture (MArch/MBA), civil engineering (MSCE/MBA), electrical engineering (MSEE/MBA), general engineering (MSGE/MBA), industrial engineering (MSIE/MBA), mechanical engineering (MSME/MBA), computer science (MCS/MBA), education (MEd/MBA), journalism (MSJ/MBA), law (JD/MBA), medicine (MD/MBA), and human resources and industrial relations (MHRIR/MBA). Other programs include cooperative programs through study abroad, cross-registration, and summer internships. The strongest areas of study are accounting, finance, marketing, technology, information management, and operations. The most popular courses are Finance, Accountancy, Marketing, and Operations. Regular programs bring distinguished speakers and visiting professors to campus. The Executive-in-Residence program brings corporate executives to campus to lecture in classes and at informal lunches. Each department of the college has visiting and speaker programs. Also offered is Conversation with Leaders, a speaker series for business leaders to interact and speak with current students.

Seventy-two total credits are required to complete the MBA, including 16 elective credits. Required courses include:

• Foundations of Business l
• Foundatins of Business ll
• Topics in Management (choose 4 from approximately 13 courses)
• Principles and Process of Management Issues in Business
• Global Strategy
• Decision Risk Analysis
• Leadership, Ethics, and Change

Students may eliminate or substitute requirements.

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 2 1/2 years; maximum, 5 years.

There are 95 total full-time graduate business faculty, all of whom hold a doctorate; there are 44 part-time faculty, of whom 85% 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 4; average business class size is 28.

University of Illinois at Urbana-Champaign, University of Illinois MBA Program Unique Programs

Library

The Business and Economics Library houses a collection of more than 68,700 volumes and 291,539 microform items, and subscribes to 1300 periodicals. The business library is particularly strong in its extensive collection of annual corporate reports and its working papers collection, and in worldwide accounting rules and regulations. Students have access to such databases and networks as CD/Corporate, Compustat, CIS, IMF, NTDB, BPI, PAIS, Corporate Text (Standard & Poor’s), National Social and Environmental Database, Wilson Databases, Bloomberg, Bridge, One Source, ABI/INFORM, EconLit, and Predicasts, among others. Other opportunities for research consist of the Office of Economic Research and the Survey Research Laboratory and the Office for the Study of Business Initiatives (OSBI).

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of more than 3500 terminals across campus and all types of software, available to all students generally from 8 a.m. to 10 p.m. There are also computer facilities available only to graduate business students.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were finance, marketing, operations, general management, and information technology management. Average starting salary of the graduating class was $77,185; range was $52,000 to $125,000. Placement services are extensive. The Alumni Career Center in Chicago offers comprehensive placement support for all University of Illinois alumni, including MBA students. Placement is available through the MBA Career Services Office, the university placement office, and departmental services (as appropriate).

International Students

International students must take the TOEFL. They also must submit a translation of their transcripts, proof of health consisting of verification of immunizations, and proof of adequate funds to cover 2 years of study. There is a $1800 English Preparation course fee, if required. Financial aid is available for these students and consists of scholarships and Global Student Loans. The application deadline for fall entry is March 15.

Calendar

The school operates on a traditional semester basis. Semesters are 16 weeks long. Graduate programs are offered during the day and evening.

University of Illinois at Urbana-Champaign, University of Illinois MBA Program Admissions

A bachelor’s degree is required. A strong mathematics background is not required but is recommeded.

The number of applicants for the 2006-2007 class was 495; 244 were accepted; 105 enrolled. The average GPA was 3.4; average GMAT score was 652. Transfers are not accepted. Minority students are actively recruited.

Students may begin the MBA program in the fall (full-time) and spring (part-time). To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $50, 3 letters of recommendation, 3 essays, a resume, and a work history. The application deadlines are March 15 for fall entry; November 1, spring. Students are notified on a rolling basis of the admissions decision. The latest acceptable test date for fall entry is no later than March.

University of Illinois at Urbana-Champaign, University of Illinois MBA Program Financial Aid

Stipends and programs available for minority students include scholarships. The FAFSA and the previous year’s tax return are required. The application deadline is open for fall entry.

Tuition for in-state residents is $16,500 per year. Nonresidents pay $24,400 per year. On-campus room and board costs approximately $9802; books and supplies, $2400; personal expenses, $6590; and other fees, $2500, for an estimated annual total of $37,792 for in-state residents and $46,022 for out-of-state residents. Graduate student housing consists of 2 graduate residence halls with single or double rooms and family housing apartments. There is also a married student housing complex and grounds. A list is maintained of apartments available in the community through reputable landlords.

University of Illinois at Urbana-Champaign, University of Illinois MBA Program Students

Eighty-five percent of the current graduate business school class are enrolled full time; 89% have had an average of more than 4 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from foreign countries (49%). Thirty-three percent are women, 16% are minorities, and 49% are foreign nationals. The average age at entrance is 28; ages range from 21 to 52. Eleven percent enter directly from undergraduate school; 11% already have a graduate degree. Students’ undergraduate majors were as follows: 32%, business; 23%, engineering; 11%, math and science; 10%, economics; 10%, social sciences; and 9%, liberal arts. In 2006, 90 graduate business degrees were awarded.