Lally School of Management and Technology

Rensselaer Polytechnic Institute, Lally School of Management and Technology History

Rensselaer Polytechnic Institute, founded in 1824, is a private, coeducational institution. The 284-acre campus is located in an urban area 5 miles north of Albany. Total undergraduate and graduate enrollment is 7433.

The Lally School of Management and Technology was founded in 1963 and is located on the main campus, in its own building. Courses also are offered at the Rensselaer at Hartford (Connecticut) campus (Education for Working Professionals). The basic educational approach focuses on innovation and entrepreneurship, with a curriculum designed to produce leaders who combine creative passion with the ability to integrate technology across business functions, guiding their organizations to develop new products, businesses, and systems.

Rensselaer Polytechnic Institute, Lally School of Management and Technology Academics

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.

Rensselaer Polytechnic Institute, Lally School of Management and Technology Unique Programs

Library

The university’s main library houses a collection of more than 521,165 volumes, 576,215 microform items, 114,472 special business collections, and 8932 audio/video tapes/CDs, and subscribes to 38,727 periodicals. The business library is particularly strong in entrepreneurship, biotechnology, nanotechnology, information technology, engineering, science, and history of science and technology. Students have access to over 230 online databases, including those specific to business students such as ABI Inform Global (ProQuest), ACM Digital Library, Business and Company Resource Center (Gale), Business Source Premier (EBSCOhost), Consumers Index, Dissertations Abstracts, ECO, EconLit, Hoover’s Online, Lexis/Nexis Academic, NetAdvantage (Standard & Poor’s), National Trade Data Bank (STAT-USA), and Periodicals Abstracts. Other opportunities for research consist of numerous research databases and university centers, including the Severino Center for Technological Entrepreneurship, Rensselaer Incubator Center, Rensselaer Technology Park, Lighting Research Center, Center for Financial Technology, and Office of Technology Commercialization, Connect NY, Ingenta, and Iliad.

Computers

Graduate business students must have their own PCs (laptops). The campus is fully wired for laptop usage and also provides access to more than 500 workstations and 200 PCs. The Lally Building is fully wired for laptop usage and has wireless access. Software includes programming languages, word processing, mathematics and statistical applications, and database management. The main computer center is open 24 hours a day, 7 days a week. Other areas on campus include several computer PC and Mac Labs, in other academic buildings, and the library.

Career and Job Placement

Majors most in demand by companies recruiting in 2006 were new product development, operations management, and marketing. Average starting salary of the graduating class was $66,400; range was $27,000 to $86,000. Placement services are extensive. Placement services for alumni include the Rensselaer Alumni Association, the on-line Lally School job board, networking events, recruiter contact, resume review, Epronet, affinity groups, Education for Working Professionals, and Alumni web community. Placement is available through Lally Career Services, the university placement office, and the Alumni Office. Seventy percent of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL, the IELTS is acceptable in lieu of 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 a medical history form and proof of immunizations, and proof of adequate funds to cover the first academic year with an indication of the continuation of support for the second academic year of study. There is a special $25 orientation fee. Financial aid is available for these students and consists of the opportunity to apply for merit-based, competitive, departmental scholarships. The application deadline for fall entry is January 15, March 15, and June 15; however, for international students the June 15 date is recommended.

Calendar

The school operates on a traditional semester basis. Semesters are 14 weeks long; summer sessions, 6 weeks. Graduate programs are offered during the day and evening, and weekends.

Rensselaer Polytechnic Institute, Lally School of Management and Technology Admissions

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.

Rensselaer Polytechnic Institute, Lally School of Management and Technology Financial Aid

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.

Rensselaer Polytechnic Institute, Lally School of Management and Technology Students

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.