Carlson School of Management

University of Minnesota-Twin Cities, Carlson School of Management History

University of Minnesota/Twin Cities, founded in 1851, is a public, coeducational institution. The 2000-acre campus is located in an urban area in Minneapolis/St. Paul. Total undergraduate and graduate enrollment is approximately 45,500. Figures given in the above capsule are approximate.

The Carlson School of Management was founded in 1936 and is located on the main campus, in its own building, Carlson School of Management. Courses also are offered at the Warsaw School of Economics in Poland (Executive MBA), the Vienna School of Economics in Austria (Executive MBA), and the Lingnan (University) College of Zhongshan University in Guangzhou, China (Executive MBA). The basic educational approach is to integrate analytical training and current business theory with applied management and leadership experiences.

University of Minnesota-Twin Cities, Carlson School of Management Academics

The Carlson School offers the Master of Business Administration (MBA), Master of Arts in Human Resources and Industrial Relations (MA/HRIR), Master of Business Taxation (MBT), and Master of Health Care Administration (MHA) as well as a doctoral program in business administration and in human resources and industrial relations, and joint degrees in health care administration, law (JD/MBA), and medicine (MD/MBA). Other programs include work-study, internships, joint research, and foreign exchange with 13 countries. The strongest areas of study are management information systems, human resources and industrial relations, marketing, finance, general management operations, health care administration, and entrepreneurial studies. The most popular courses are finance and marketing electives. Regular programs bring distinguished speakers and visiting professors to campus, including lecturers and classroom speakers. First Tuesday brings in distinguished speakers every month.

Sixty-three total credits are required to complete the MBA, including 32 elective credits. Required courses include:

• Data Analysis and Statistics
• Financial Accounting
• Marketing Management
• Operations Management
• Financial Management
• Managerial Accounting
• Strategic Management
• Ethical Environment of Business
• Top Management Perspectives * Three electives from options menus
• Information Technology Management

Required courses for the Evening MBA include:

• Strategic Management
• Data Analysis and Statistics for Managers
• Financial Accounting
• Operations Management
• Financial Management
• Marketing Management
• Managerial Accounting
• Ethical Environment of Business
• Three electives from options menus (1 economics-related)

Part-time MBA students may waive core requirements with proof of recently completed comparable coursework.

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time or part time is 2 years; maximum, 7 years.

There are 133 total full-time graduate business faculty, of whom 93% hold a doctorate; there are 120 part-time faculty, of whom 61% 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 2; average business class size is 30.

University of Minnesota-Twin Cities, Carlson School of Management Unique Programs

Library

The Business Reference Service in Wilson Library houses a collection of more than 1,746,353 volumes, 3.7 million microform items, and 27,633 audio/video tapes/CDs, and subscribes to 2665 periodicals. Students have access to such databases and networks as Business & Company Resource Center, Business Source Premier, Econlit, Elsevier Business Journals, General Business File, JSTOR Business Journals, Lexis/Nexis Academic, and Regional Business News. Other opportunities for research consist of the Accounting Research Center, MIS Research Center, Strategic Management Research Center, Juran Center, Entrepreneurial Center, Center for Brand Management, Center for the Study of Health Care Management, Human Resources Research Institute, Industrial Relations Center, Logistics Management Research Center, and Center for Financial Services Industry.

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of 5 computer labs that are available for study and research.

Career and Job Placement

Majors most in demand by companies recruiting in a recent year were finance and marketing. Average starting salary of the graduating class was $77,821; range was $55,000 to $113,000. The percentage of graduates finding jobs were:

• national corporations 69%
• local small enterprises 12%
• local large enterprises 11%
• international 6%
• regional corporations 1%
• self-employment 1%

Placement services are extensive. Placement services for alumni include e-recruiting services, on-line job postings, and on-line resume submission and referral worldwide. Placement is available through the Graduate Business Career Center. Ninety-three percent of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL or the IELTS. They also must submit a translation of their transcripts and proof of adequate funds to cover all costs for the first 12 months of study. There is a $90 application fee and a $40 international student fee (per semester). Financial aid is available for these students and consists of fellowships, graduate assistantships, and loans. The application deadline for fall entry is February 15.

Calendar

The school operates on a traditional semester basis. Semesters are 14 weeks long; summer sessions, 8 weeks. Graduate programs are offered during the day and evening and weekends.

University of Minnesota-Twin Cities, Carlson School of Management Admissions

A bachelor’s degree is required. Most important admissions factors are academic accomplishments and ability, work experience, and GMAT results. A strong mathematics background is required.

The number of applicants for a recent class was 600; 300 were accepted; 200 enrolled. The average GPA was 3.32.Transfers are not accepted. Minority students are actively recruited through GMAC Minority Recruitment Programs, the National Black MBA Association, and the Association of Hispanic Colleges. Minorities receive substantial fellowship money through the university as well as through corporate funding and internships.

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 $60, ($90 for international applicants) 2 letters of recommendation, a current resume, and personal essays. The application deadline is April 15 for fall entry. Students are notified of the admissins decision February 15, April 15, and May 15. The latest acceptable test date for fall entry is April 15. Once accepted, students may defer admission for up to 1 year by written request; deferrals are not granted automatically.

University of Minnesota-Twin Cities, Carlson School of Management Financial Aid

In a recent year, about 75% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships, for a total average of $25,166 annually; maximum $45,556. Stipends and programs available for minority students include the graduate school minority/disadvantaged fellowship, Carlson School minority fellowships, corporate-sponsored fellowships, and dean’s fellowship. The FAFSA is required. Check with the school for current application deadlines.

Tuition for in-state residents is approximately $22,684 per year. Nonresidents pay approximately $32,292 per year. On-campus room and board costs approximately $14,000; books and supplies, $2000; personal expenses, $500; and other fees, $4545, for an estimated annual total of $43,729 for in-state residents and $53,337 for out-of-state residents. Graduate student housing consists of graduate student floors in dormitories and reasonably priced married-student housing. At least 95% of students live off campus. There is a referral service to help procure off-campus housing.

University of Minnesota-Twin Cities, Carlson School of Management Students

Twelve percent of a current graduate business school class were enrolled full time; 99% had an average of 6 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Minnesota (39%). Thirty-one percent are women, 9% are minorities, and 8% are foreign nationals. The average age at entrance is 29; ages range from 22 to 49. Three percent enter directly from undergraduate school; 15% already have a graduate degree. Students’ undergraduate majors were as follows: 30%, business; 21%, engineering; 16%, social sciences; 15%, economics; 13%, math and science; and 5%, liberal arts. About 2% of entering students leave by the end of the first year due to academic or personal reasons; 99% remain to receive their degree. In a recent year, 123 graduate business degrees were awarded.