The Lally School offers the Master of Business Administration (MBA) and Master of Science in Management (MS) as well as a doctoral program in management. Other programs include foreign exchange with 13 exchange partners in Europe, Australia, and Asia, cross-registration with other area schools, joint research, cooperative programs with various companies through Rensselaer’s Career Development Center, internships, and an Executive MBA program. The strongest areas of study are entrepreneurship, management information systems, new product development, production and operations management, and marketing. The most popular courses are Creating and Managing an Enterprise; Developing Innovative New Products and Services; and Strategy, Technology and Competition. Regular programs bring distinguished speakers and visiting professors to campus. Through Visting Professors, the Guest Speakers and Venture Affiliates programs, top-level executives are brought to campus each year to work with students in the classroom, interact with faculty, and make a formal presentation to the campus community.
Sixty total credits are required to complete the Management and Technology MBA, including 12 elective credits. Required courses for the Management and Technology MBA include:
- Heroes, Leaders, and Innovators
- The Craig, 68 Professional Development Seminar
- Economics and Institutions
- Financial Management I and II * Accounting for Reporting and Control
- Creating and Managing an Enterprise I and II
- Business Implications of Emerging Technologies I and II
- Networks, Innovation, and Value Creation I and II
- Global Business and Social Responsibility
- Strategy, Technology, and Competition I and II
- Developing Innovative New Products and Services I and II
- Managing on the Edge: Corporate Innovation of the Coming Years
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 4 years; maximum, 5 years.
There are 55 total full-time graduate business faculty, of whom 87% hold a doctorate; there are 8 part-time faculty, of whom 63% 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 25.
A bachelor’s degree is required, along with a GPA of 3.0. Most important admissions factors are technical background, work experience, and academic accomplishments and ability. A strong mathematics background is required.
The number of applicants for the 2006-2007 class was 416; 291 were accepted; 240 enrolled. The average GPA was 3.23; average GMAT score was 629. Transfers are not accepted. Minority students are actively recruited by publications targeted to minority students, career days and job fairs at predominantly black and Hispanic schools, special funding sources for minorities, special recruiting events, and visiting days.
Students may begin the MBA program in the fall and spring. To apply, students must submit an application form, 2 transcripts, GMAT scores, a nonrefundable application fee of $75, 2 letters of recommendation, essay questions explaining background and goals, and a resume. An interview may also be required. The application deadline is rolling for fall entry but suggested deadlines are January 15, March 15, and Junes 15. Students are notified of the admissions decision 4 weeks after the application and all supporting credentials are received. The latest acceptable test date for fall entry is June. Once accepted, students may defer admission to the next fall semester, but students must submit pages 1 to 3 of the application, a $75 re-application fee, an updated resume, and a statement of current activities for review by the Director of Graduate Admissions.
Stipends and programs available for minority students include the opportunity to apply for an Institute fellowship. The FAFSA, the school’s own financial statement, and the previous year’s tax return are required. The application deadlines for aid fall entry is January 15, March 15, and June 15 (January 15 is preferred).
Tuition for all students is $32,600 per year. On-campus room and board costs approximately $6500; books and supplies, $1777; personal expenses, $2500; and other fees, $1623, for an estimated annual total of $45,000. Graduate student housing consists of on-campus single-student and married-student accommodations and off-campus housing. There is a referral service to help procure off-campus housing.
Twenty percent of the current graduate business school class are enrolled full time; 95% have had an average of 6 years of full-time work experience prior to entering graduate school, a factor preferred by the school. Thirty-eight percent are women, 9% are minorities, and 9% are foreign nationals. The average age at entrance is 29; ages range from 22 to 56. Five percent enter directly from undergraduate school; 20% already have a graduate degree. Students’ undergraduate majors were as follows: 27%, engineering; 13%, business; 13%, liberal arts; 13%, math and science; 2%, economics; and 2%, social sciences. About 5% of entering students leave by the end of the first year due to academic or personal reasons; 95% remain to receive their degree. In 2006, 324 graduate business degrees were awarded.