College of Business

University of Missouri-Columbia, College of Business History

University of Missouri/Columbia, founded in 1839, is a public, coeducational institution. The 1348-acre campus is located in a small town 125 miles west of St. Louis. Total undergraduate and graduate enrollment is 28,253.

The College of Business was founded in 1930 and is located on the main campus, in its own building. The basic educational approach is a mix of theory, case analysis, and experiential activities. Students may choose either a specific concentration, or a general business option, or may take an approved concentration in areas outside business such as journalism, advertising, and engineering.

University of Missouri-Columbia, College of Business Academics

The College of Business offers the Master of Business Administration (MBA) and Master of Accountancy (MAcc) as well as a doctoral program in business administration and accountancy, and a joint degree in industrial engineering (MBA/MS), health administration (MBA/MHA), and law (MBA/JD). Other programs include a 3-2 degree with the university’s industrial engineering department, study-abroad opportunities, teaching and research assistantships, work-study, and internships. The strongest areas of study are finance, management, and marketing. The most popular course is finance. Regular programs bring distinguished speakers and visiting professors to campus. These include the Executive-in-Residence program, the College and University Lecture Series, and special seminars.

Fifty-nine total credits are required to complete the MBA, including 15 elective credits. Required courses include:

• Organization Behavior and Group Dynamics
• Managerial Accounting
• Computer Applications for Planning and Decision Making
• Economics for Managers
• Production/Operations Management
• Managerial Finance
• Managerial Marketing
• Security Markets and Investments
• Marketing Strategy
• Business Environment and Policy
• Business Law/Regulation
• Organizational Ethics
• Information Requirements Analysis
• MBA Communications Practice
• Business Problem Analysis: Field Project
• Business Consulting
• MBA Seminar I, II, III

Students may eliminate or substitute requirements with equivalent undergraduate course work.

Business students may take relevant nonbusiness courses in other departments. The maximum time permitted to complete the master’s degree program attending full time is 8 years.

There are 31 total full-time graduate business faculty, all of whom hold a doctorate; there are 8 part-time faculty, of whom 38% hold a doctorate. Faculty salaries are rated below average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 4; average business class size is 25.

University of Missouri-Columbia, College of Business Unique Programs

Library

The Ellis Library houses a collection of more than 3,092,622 volumes, 6,883,496 microform items, and 23,028 audio/video tapes/CDs, and subscribes to 23,234 periodicals. Students have access to such databases and networks as ABI/INFORM, Compustat, Compact Disclosure SEC, Dow Jones News Retrieval, Lexis/Nexis, Bridge on-line Financial Data, Worldscope, CRSP, FDIC, and Citibank files. Other opportunities for research consist of the Financial Research Institute, the Center for Advanced Social Research, the Multimedia Development Center, the Missouri Innovation Center, and the Small Business Development Center.

Computers

Graduate business students need not have their own PCs. The business school has its own computer facilities, consisting of 2 PC labs plus additional facilities across campus. Software includes spreadsheet, database, word processing, and commercial analysis products. PC and mainframe software includes many business-related packages, databases, and on-line library resources.

Career and Job Placement

In spring 2006, 62 companies recruited on campus. Majors most in demand were finance, marketing, and management information systems. Average starting salary of the graduating class was $53,433. The percentage of graduates finding jobs were:

• national corporations 80%
• local large enterprises 11%
• local small enterprises 9%

Placement services are extensive. Placement services for alumni include interviews on a prescreen basis, a call-in job line, and a career fair. Placement is available through the university placement office and College Career Services, which serves both undergraduate and graduate students. Ninety 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 must score 550 on the Paper-Based TOEFL (PBT). They also must submit a translation of their transcripts and proof of adequate funds to cover 1 year of study. Financial aid is available for these students and consists of scholarships for very qualified applicants and limited graduate assistantships. The application deadline for fall entry is May 1.

Calendar

The school operates on a traditional semester basis. Semesters are 16 weeks long; summer sessions, 8 weeks. Graduate programs are offered during the day only.

University of Missouri-Columbia, College of Business Admissions

A bachelor’s degree is required. Most important admissions factors are GMAT results, grades in upper-level courses, and academic accomplishments and ability. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 369; 197 were accepted; 100 enrolled. The average GPA was 3.41; average GMAT score was 624. Transfers are accepted. Minority students are actively recruited by campus visits, minority scholarships, and special mail promotions.

Students may begin the MBA program in the fall, winter, and summer. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $45, a departmental application, and a resume. The application deadlines are August 1 for fall entry; December 1, winter; May 1, summer. Students are notified of the admissions decision on a rolling basis. The latest acceptable test date for fall entry is July 1. Once accepted, students may defer admission for up to 1 year.

University of Missouri-Columbia, College of Business Financial Aid

About 50% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $9000 annually; maximum $22,300. Stipends and programs available for minority students include scholarships and fellowships. Check with the school for current application deadlines.

Tuition for in-state residents is $293 per credit, or $8624 per year. Nonresidents pay $709 per credit, or $20,888 per year. On-campus room and board costs approximately $7500; books and supplies, $850; personal expenses, $1000; and other fees, $800, for an estimated annual total of $18,774 for in-state residents and $31,038 for out-of-state residents. Graduate student housing consists of more than 300 university-owned apartments for student families and single graduate students. There is a referral service to help procure off-campus housing.

University of Missouri-Columbia, College of Business Students

All of the current graduate business school class are enrolled full time; 49% have had an average of 2 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 (58%). Forty-one percent are women, 3 to 4% are minorities, and 34% are foreign nationals. The average age at entrance is 25; ages range from 21 to 48. Forty-three percent enter directly from undergraduate school; 8% already have a graduate degree. Students’ undergraduate majors were as follows: 52%, business; 12%, math and science; 10%, engineering; 8%, various; 7%, economics; 7%, social sciences; and 4%, liberal arts. About 2% of entering students leave by the end of the first year due to academic or personal reasons; 98% remain to receive their degree. In 2006, 104 graduate business degrees were awarded.