Babcock Graduate School of Management

Wake Forest University, Babcock Graduate School of Management History

Wake Forest University, founded in 1834, is a private, coeducational institution. The 320-acre campus is located in a suburban area in Winston-Salem. Total undergraduate and graduate enrollment is 6739.

The Babcock Graduate School of Management was founded in 1969 and is located on the main campus, in its own building, Worrell Professional Center. Courses also are offered at Charlotte (Evening MBA Program and Saturday MBA Program). The basic educational approach is to involve students as active participants rather than passive recipients of knowledge. Faculty use cases, role playing, computer simulation, actual consulting assignments, guest speakers, and management simulation to involve students.

Wake Forest University, Babcock Graduate School of Management Academics

Babcock offers the Master of Business Administration (MBA) and Master of Arts in Management (MAM) as well as joint degrees in law (JD/MBA) and medicine (MD/MBA) and with the Graduate School of Arts and Sciences (PhD/MBA) and Calloway School of Business and Accountancy (MSA/MBA). Other programs include many opportunities for experiential learning: the management consulting practicum, 5 overseas summer study programs, summer internships, a mentor program, the Babcock Leadership Series, the Marketing Summit and Case Competition, the Elevator Case Competition, and a career management course. The strongest areas of study are finance, marketing, operations management, consulting, and entrepreneurship. The most popular courses are Strategy Games, International Finance, Business Process Management, Negotiations, Investments and Portfolio Management, Advanced Financial Management, Pricing Revenue Management, Management Control, Cost Analysis, Brand Management, and Entrepreneurship. Regular programs bring distinguished speakers and visiting professors to campus. The Executive-in-Residence Program brings current or retired chief executives to teach and participate in classroom/special projects. The Babcock Leadership Series and the Broyhill Executive Lecture Series bring noted leaders from business and government to speak to the Babcock community.

Sixty-four total credits are required to complete the MBA, including 27or 30 elective credits. Required courses include:

• Accounting
• Financial Management
• Quantitative Methods
• Managerial Economics
• Marketing Management
• Operations Management
• Organizational Behavior
• Management Communication
• Information Technology Management
• International Business Management
• International Competitive Policy I and II
• Law and Ethics
• Management Consulting Practicum
• Macroeconomics

Required courses for the MA in Management include:

• Business Simulation
• Introduction to Accounting
• Introduction to Business
• Introduction to Quantitative Methods
• Professional Development
• Accounting
• Contemporary Topics in Business
• Financial Management
• Information Technology Management
• International Business Management
• International Competitive Policy
• Macroeconomics
• Management Communication
• Managerial Economics
• Marketing Management
• Operations Management
• Organizational Behavior
• Quantitative Methods

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 2 years; maximum, 2 years. For students attending part time, the minimum is 1.5 years; maximum, 2 years.

There are 37 total full-time graduate business faculty, of whom 95% hold a doctorate; there are 12 part-time faculty, of whom 50% hold a doctorate. Faculty salaries are rated well above average for Category IIA institutions, based on the AAUP rating system. Average number of courses faculty teach is 4; average business class size is 31.

Wake Forest University, Babcock Graduate School of Management Unique Programs

Library

The Professional Center Library houses a collection of more than 24,500 volumes and 50 audio/video tapes/CDs, and subscribes to 2000 periodicals. The business library is particularly strong in general management. Students have access to such databases and networks as Lexis/Nexis, Hoover’s, Investext, Thomson Financial, Standard & Poor’s NetAdvantage, STAT-USA, Political Risk Yearbook, Bloomberg, Wall Street Journal on-line, Business Source Complete, Euromonitor, Forrester, and Mintel. Other opportunities for research consist of the main campus library (Z. Smith Reynolds Library).

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities. A laptop is provided as part of tuition for all full-time MBA students. Wireless computer access on campus meets state-of-the-art standards.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were finance, marketing, operations management, and consulting/general management. Average starting salary of the graduating class was $80,311; range was $50,000 to $110,000. Placement services are extensive. Placement services for alumni include resume critiquing, career counseling, job referrals, and Internet services. Placement is available through the Career Management Center. Eighty-two 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 600 on the Paper-Based TOEFL (PBT) or 100 on the Internet-Based (iBT)version. They also must submit a translation of their transcripts, proof of health consisting of immunization records, and proof of adequate funds to cover 2 years of study. Financial aid is available for these students and consists of scholarships, assistantships, and private student loans (U.S. cosigner required). The priority application deadline for fall entry is April 1.

Calendar

The school operates on a traditional semester basis. Semesters are 15 weeks long; summer sessions, 12 weeks. Graduate programs are offered during the day and evening and weekends.

Wake Forest University, Babcock Graduate School of Management Admissions

A bachelor’s degree is required, along with a GPA of 2.0 and a GMAT score of 500. Most important admissions factors are work experience, GMAT results, and a successful interview. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 432; 231 were accepted; 89 enrolled. The average GPA was 3.2; average GMAT score was 647. Transfers are not accepted. Minority students are actively recruited by attending minority recruiting events, offering scholarships, and conducting a Diversity Symposium. Babock is a member of Management Leadership for Tomorrow.

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 $75, 2 letters of recommendation, essays, and a resume. An interview is required. The application deadline is April 1 for fall entry. Students are notified of the admissions decision within 3 weeks of submitting a complete application. If applicants participate in Babcock’s Done in a day Program, they receive an admissions decision within 24 hours. The latest acceptable test date for fall entry is June.

Wake Forest University, Babcock Graduate School of Management Financial Aid

About 79% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $31,745 annually; maximum $53,500. Stipends and programs available for minority students include the Wachovia Scholars Program (full tuition plus stipend) and the Forte Foundation Scholars Program. The FAFSA and the previous year’s tax return are required. February 1 is the scholarship deadline.

Tuition for all students is $984 per credit, or $31,500 per year. Books and supplies cost approximately $1500; personal expenses, $13,780; and other fees, $150, for an estimated annual total of $46,930. Graduate student housing is available in several university houses for international students only. There is a referral service to help procure off-campus housing.

Wake Forest University, Babcock Graduate School of Management Students

Thirty-six percent of the current graduate business school class are enrolled full time; 95% have had an average of 7 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 South (75%). Twenty-eight percent are women, 15% are minorities, and 10% are foreign nationals. The average age at entrance is 30; ages range from 21 to 54. Four percent enter directly from undergraduate school; 9% already have a graduate degree. Students’ undergraduate majors were as follows: 40%, business; 18%, engineering; 14%, social sciences; 11%, economics; 7%, liberal arts; 6%, math and science; and 4%, computer science and other. In 2006, 283 graduate business degrees were awarded.