Krannert Graduate School of Management

Purdue University-Main Campus, Krannert Graduate School of Management History

Purdue University, founded in 1869, is a public, coeducational institution. The 2307-acre campus is located in a small town 60 miles northwest of Indianapolis. Total undergraduate and graduate enrollment is 38,712.

The Krannert Graduate School of Management was founded in 1957 and is located on the main campus, in its own building, Rawls Hall. Courses also are offered at Hannover, Germany. The basic educational approach is a combination of case study, lecture, and experiential learning.

Purdue University-Main Campus, Krannert Graduate School of Management Academics

The Krannert offers the Master of Business Administration-Full-time (MBA), Master of Business Administration-Executive (MBA), Master of Business Administration-International Master of Management (MBA), Master of Business Administration-Weekend (MBA), Master of Science in Industrial Admistration (MSIA), Master of Science in Human Resource Management (MSHRM), Master of Science in Industrial Administration (MSIA), and Master of Business Administration-International Management (MBA-IM) as well as a doctoral program in economics, management, and organizational behavior and human resource management, and a joint degree in Pharm- D/MSIA. Other programs include a 3-2 degree with the Purdue University School of Management and the Purdue College of Engineering undergraduate program, foreign exchange with 4 countries, and summer internship opportunities, which enable 2-year master’s students to earn a salary while gaining first-hand business experience. The strongest areas of study are corporate finance, entrepreneurship, human resource management, marketing, and operations and supply chain management. The most popular courses are Financial Management, Marketing, Strategic Management, Operations, and OBHR. Regular programs bring distinguished speakers and visiting professors to campus. Executive Forums held each Friday bring corporate chief executive officers or leaders from other institutions to the Krannert School for lectures and interaction with students.

Sixty total credits are required to complete the MBA, including 25 elective credits. Required courses include:

• Microeconomics/Macroeconomics
• Financial Accounting/Managerial Accounting
• Financial Management I and II
• Marketing Management I and II
• Quantitative Methods I and II
• Strategic Management I and II
• Operations Management I and II
• Organizational Behavior/Human Resource Mangement
• Management Information Systems I and II
• Managerial Communications I and II
• Business Law

Required courses for the MSIA include:

• Microeconomics/Macroeconomics
• Financial Accounting/Managerial Accounting
• Financial Management I and II
• Marketing Management I and II
• Quantitative Methods I and II
• Strategic Management I and II
• Operations Management I and II
• Organizational Behavior/Human Resource Management
• Management Information Systems
• Managerial Communications I and II
• Business Law

Required courses for the MSHRM include:

• Quantitative Methods/Statistics I and II
• Financial Accounting
• Operations Management I
• Organizational Behavior/Human Resource Management
• Financial Management I
• Strategic Management l and II
• Managerial Communication I and II
• Industrial Relations I and II
• Marketing Management I
• Human Resource Systems
• Staffing Tools
• Information Systems I and II
• Staffing Systems
• Compensation and Reward Systems I and II
• Advanced Labor Economics
• Business Law

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, 2 years. For students attending part time, the minimum is 2 years; maximum, 3 years.

There are 109 total full-time graduate business faculty, of whom 99% hold a doctorate; there are 2 part-time faculty, both of whom hold a doctorate. Faculty salaries are rated 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 48.

Purdue University-Main Campus, Krannert Graduate School of Management Unique Programs

Library

The Management and Economics Library houses a collection of more than 2.4 million volumes and 3.1 million microform items, and subscribes to 20,829 periodicals. The business library is particularly strong in electronic sources of business information and historic economic collections. Students have access to such databases and networks as Dialog, Dow Jones, ABI/INFORM, Economic Literature Index, Global Access, First Call, Bloomberg, FISonline, Hoover’s Zacks, Business & Industry News, TableBase, Promt, Business & Company Resource Center, Business Source Premier, STAT-USA, Agricola, Statistical Universe, Lexis/Nexis, CCH Tax Research Datastream, Research Insight, Market Insight, Net Advantage, EIU CountryData, SourceOECD, FARS, Morningstar.com, SDC, and Investext. Other opportunities for research consist of the Purdue University libraries within the various schools and the Purdue University Computing Center.

Computers

Graduate business students need not have their own PCs. The business school has its own computer facilities, consisting of approximately 50 PCs which are available to all master’s students in Rawls Hall, plus another 100 in labs in the Krannert Building, in addition to wireless connectivity throughout campus. Software installed in labs includes Windows XP, the Office XP suite, statistical software such as SPSS and SAS, and class-specific software (Oracle, Marketing Engineering, and MarkStrat).The labs are open Monday to Friday 7 a.m. to 6 p.m., and all students have access through a card swipe evenings and weekends.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were finance, operations, marketing, and consulting. Average starting salary of the graduating class was $83,635; range was $42,000 to $120,000. The percentage of graduates finding jobs were:

• national corporations 92%
• regional corporations 5%
• self-employment 2%
• local small enterprises 1%

Placement services are extensive. Placement services for alumni include resume referral and web site resources, including a jobs database. Placement is available through Graduate Career Services and the university placement office. Ninety-seven 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 the medical history form verified by a personal physician, and proof of adequate funds to cover 1 full year of study. Financial aid is available for these students and consists of some scholarships and assistantships. Check with the school with current application deadlines.

Calendar

The school operates on a half-semester modules basis. Graduate programs are offered on weekends.

Purdue University-Main Campus, Krannert Graduate School of Management Admissions

A bachelor’s degree is required. Most important admissions factors are GMAT results, work experience, and academic accomplishments and ability. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 926; 442 were accepted; 206 enrolled. The average GPA was 3.3; average GMAT score was 661. Transfers are not accepted. Minority students are actively recruited by the school, which offers Management Leadership for Tomorrow (MLT) and the Business Opportunity Program.

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 $55, and 2 letters of recommendation. The application deadline is May 15 for fall entry. Students are notified 4 to 6 weeks after the completed application is submitted of the admissions decision. Once accepted, students may defer admission for up to 2 years, subject to approval.

Purdue University-Main Campus, Krannert Graduate School of Management Financial Aid

About 81% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total maximum of $43,664. Stipends and programs available for minority students include through the Business Opportunity Program and Graduate School Minority Scholarships. The FAFSA is required. Check with the school for current application deadlines.

Tuition for in-state residents is $14,880 per year. Nonresidents pay $29,614 per year. On-campus room and board costs approximately $6071; books and supplies, $2150; personal expenses, $3100; and other fees, $396, for an estimated annual total of $26,597 for in-state residents and $41,331 for out-of-state residents. Graduate student housing is readily available in on-campus facilities but should be sought early. There is a referral service to help procure off-campus housing.

Purdue University-Main Campus, Krannert Graduate School of Management Students

Eighty-six percent of the current graduate business school class are enrolled full time; 85% have had an average of 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 the Midwest (35%). Eighteen percent are women, 20% are minorities, and 34% are foreign nationals. The average age at entrance is 28; ages range from 20 to 47. Ten percent enter directly from undergraduate school; 15% already have a graduate degree. Students’ undergraduate majors were as follows: 27%, engineering; 26%, business; 22%, math and science; 11%, social sciences; 9%, economics; 3%, technology; and 2%, liberal arts. In 2006, 174 graduate business degrees were awarded.