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Graduate School of Business

Academics

The Chicago/GSB offers the Master of Business Administration (MBA) and International Master of Business Administration (IMBA) as well as a doctoral program in philosopy, and a joint degree in area studies (MBA/AM), international relations (MBA/AM), law (MBA/JD), medicine (MBA/MD), public policy studies (MBA/MPP), and social service administration (MBA/AM). Other programs include foreign exchange with 21 countries, summer internships, and certification in health administration and policy. The strongest areas of study are finance and accounting, entrepreneurship, strategic management, and economics. The most popular courses are Financial Statement Analysis, Investments, Corporate Finance, Entrepreneurial Finance, and Marketing. Regular programs bring distinguished speakers and visiting professors to campus. Leading world scholars serve as visiting professors and the Distinguished Speakers Series includes executive officers from major corporations and government who appear regularly on campus to speak with students and participate in presentations.

Twenty-one total credits are required to complete the MBA, including 11 elective credits. Required courses include:

  • Leadership Exploration and Development (LEAD)
  • courses chosen from:
  • Financial Accounting
  • Microeconomics
  • Statistics
  • Financial Management
  • Human Resources Management
  • Macroeconomics
  • Managerial Accounting
  • Marketing Management
  • Operations Management
  • General Management

Required courses for the IMBA include:

  • Must take 5 international business courses and study at an exchange school

Students may eliminate or substitute requirements by testing out.

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 12 months; maximum, 5 years. For students attending part time, the minimum is 30 months; maximum, 5 years.

There are 127 total full-time graduate business faculty, of whom 99% hold a doctorate; there are 48 part-time faculty. 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 53.

Admissions

A bachelor’s degree is required. A strong mathematics background is not required.

The average GPA was 3.46; average GMAT score was 705. Transfers are not accepted. Minority students are actively recruited by the Office of Diversity Affairs and through corporate-sponsored fellowships.

Students may begin the full-time MBA program in the fall only. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $200, 2 letters of recommendation, essays and a resume. The application deadline is March for fall entry. Students are notified on a rolling basis of the admissions decision. The latest acceptable test date for fall entry is February. Once accepted, students may defer admission on a case-by-case basis.

Financial Aid

About 80% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total maximum of $72,746. Stipends and programs available for minority students include corporate-sponsored fellowship programs. The FAFSA and the school’s own financial statement are required. Check with the school for current application deadlines.

Tuition for all students is $4160 per course, or $41,600 per year. On-campus room and board costs approximately $18,900; books and supplies, $2100; personal expenses, $2550; and other fees, $612, for an estimated annual total of $65,762. Graduate student housing consists of a graduate residence hall, the International House, and private apartments near the campus. There is a referral service to help procure off-campus housing.

Students

Thirty-five percent of the current graduate business school class are enrolled full time; 99% have had an average of 5 years of full-time work experience prior to entering graduate school. Twenty-five percent are women, 35% are minorities, and 32% are foreign nationals. The average age at entrance is 28; ages range from 21 to 37. One percent enter directly from undergraduate school; 23% already have a graduate degree. Students’ undergraduate majors were as follows: 29%, business; 22%, economics; 21%, engineering; 15%, math and science; 6%, social sciences; and 1%, liberal arts. About 1% of entering students leave by the end of the first year due to academic or personal reasons; 99% remain to receive their degree. In 2006, 1232 graduate business degrees were awarded.

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