Yale School of Management

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Yale School of Management
Yale SOM Shield
Motto Novus Ordo Seclorum (Latin)
Mission Educating leaders for business and society
Established 1976
School type Private
Dean Joel M. Podolny
Location New Haven, Connecticut, USA
Enrollment 468 MBA students
Faculty 81 (including joint faculty)
Endowment $487 million (2006)
Mascot Bulldog - "Handsome Dan"
Homepage www.mba.yale.edu

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Hillhouse Avenue in New Haven, Connecticut, USA. Yale SOM offers M.B.A. and Ph.D. degree programs. As of spring 2006, 468 students were enrolled in its Master of Business Administration program. Yale SOM has 81 faculty members and the dean is Joel M. Podolny.

Contents

[edit] About the School

Yale SOM conducts education and research in leadership, economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas; its most acclaimed programs are finance and strategic management. The school offers a wide range of graduate-level academic programs and concentrations. The school is known for its finance faculty, emphasis on ethics, and International Center for Finance.

The school has also recently added an MBA for Executives: Leadership in Healthcare degree, designed for professionals in the health care industry.

The campus includes 19th-century mansions and contemporary buildings. Donaldson Commons, one of the school's dining facilities, is across the street from the main campus and was named after the founding dean of the School. A planned new campus and main building, at an estimated cost of $150 million, is scheduled for completion by 2010.

[edit] History

Elihu Yale statue and Connecticut Hall on Old Campus. Photo by Michael Marsland © Yale University
Elihu Yale statue and Connecticut Hall on Old Campus. Photo by Michael Marsland © Yale University

The School was founded in 1976 by William H. Donaldson, former Chairman of the Securities and Exchange Commission and Founder of Donaldson, Lufkin & Jenrette, as the Yale School of Organization and Management; it awarded its first graduate business degrees in 1978. The School was renamed the Yale School of Management in 1994.

[edit] Deans

Name Years as Dean
1 William H. Donaldson (1976–1980)
2 Geoffrey C. Hazard, Jr. (1980–1981)
3 Burton G. Malkiel (1981–1988)
4 Michael E. Levine (1988–1992)
5 Paul MacAvoy (1992–1994)
6 Stanley Garstka (1994–1995)
7 Jeffrey Garten (1995–2005)
8 Joel M. Podolny (2005–Present)

[edit] Integrated Curriculum

For the 2006-2007 academic year, Yale SOM introduced its "Integrated Curriculum," an effort to move away from the typical "siloed" teaching approach to a more functional and integrated perspective. In their first year, students will examine various roles that people and organizations play and how they affect a business. Internal roles include employee, operations engine, finance manager, and innovator. External roles include investor, Customer, competitor, the State and society. First-year students will take at least one elective and be required to spend two weeks studying abroad, meeting with business leaders and government officials in Brazil, China, India, or elsewhere. The second-year curriculum is comprised of electives. The new curriculum is unique among those offered by leading business schools.[citation needed]

[edit] Admissions and rankings

Yale SOM is consistently ranked among the top MBA programs in the world. As of January, 2007, it is ranked #5 by Forbes, #15 by US News, #5 by the Wall Street Journal, #18 by BusinessWeek, #10 by Financial Times and #18 by The Economist.

Admission to Yale SOM is very competitive; 22% of applicants were admitted to the class that entered in September 2006. For that class, 43% of those accepted chose to attend, yielding a class with a 701 average GMAT .[1]

After Yale's mid-2006 announcement of the new curriculum, the number of admitted students who chose to attend in the 2006-07 year increased by 50%.[citation needed]

[edit] Student life

Students at Yale SOM are called "SOMers" or, like all Yale University students and alumni, "Yalies." They operate more than 50 student clubs. There are career-oriented clubs such as Private Equity, Biotechnology, Investment Management, and Consulting. There are also athletic clubs including soccer, crew, skiing, and squash. The Yale SOM Cup soccer tournament is held in October and attracts clubs from numerous top business schools. Each November, many students attend the Harvard-Yale football game (known as "The Game"), the location of which alternates each year between New Haven and Cambridge. The weekend's activities include the Harvard-Yale Leadership & Ethics Debate, an annual contest between the two schools' MBA students.

[edit] Research and endowment

Hillhouse Avenue, in front of the International Center for Finance. Photo by Michael Marsland © Yale University
Hillhouse Avenue, in front of the International Center for Finance. Photo by Michael Marsland © Yale University

The School is home to the following research centers:

Yale SOM's endowment fund, valued at $487 million in 2006, is part of the larger Yale University endowment and is one of the largest business school endowments in the world. The endowment is primarily used according to the donors' wishes, which include the support of teaching and research. Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades. [2]

[edit] Joint-degree and scholarship programs

Yale 2001 Commencement. Photo by Michael Marsland © Yale University
Yale 2001 Commencement. Photo by Michael Marsland © Yale University

Yale SOM's joint-degree programs include MBA/JD with Yale Law School, MBA/MD with Yale School of Medicine, MBA/PhD with Yale Graduate School of Arts and Sciences, MBA/MEM with Yale School of Forestry and Environmental Studies, MBA/MArch with Yale School of Architecture, MBA/MFA with Yale School of Drama, MBA/MDiv or MBA/MAR with Yale Divinity School, MBA/MHA with the Yale School of Public Health,and MBA/MA in International Relations with Yale Graduate School of Arts and Sciences.

Yale SOM also offers the Silver Scholars Program for exceptional college seniors.

[edit] Prominent faculty

  • Ravi Dhar - George Rogers Clark Professor of Management and Marketing and Director of the Center for Customer Insights at the Yale School of Management
  • Frank J. Fabozzi - Editor of the Journal of Portfolio Management; prolific author of investment books
  • William Goetzmann - Edwin J. Beinecke Professor of Finance and Management Studies; Director, International Center for Finance at the Yale School of Management
  • Roger G. Ibbotson - Chairman and Founder of Ibbotson Associates; expert in capital market returns; co-author of "Global Investing"
  • Jonathan E Ingersoll Jr. - Adrian C. Israel Professor of International Trade & Finance, co-developer of the Cox, Ingersoll, Ross Model for equilibrium asset pricing. 2002 winner of the International Association of Financial Engineers award for Financial Engineer of the Year.
  • Barry Nalebuff - game theory specialist
  • Sharon Oster - competitive strategy expert; author of "Modern Competitive Analysis"
  • Robert Shiller - behavioral finance expert; author of "Irrational Exuberance", "Market Volatility", "The New Financial Order: Risk In The 21st Century", and "Macro Markets"
  • Jeffrey Sonnenfeld - founder and President of The Chief Executive Leadership Institute
  • Shyam Sunder - a world-renowned experimental economist and accounting theorist
  • David Swensen (adjunct) - Yale University's Chief Investment Officer; responsible for managing $18 billion in university endowment assets; author of "Pioneering Portfolio Management"
  • Arthur Swersey - specialist in production and inventory management, quality management, and mathematical modeling
  • Martin J. Whitman (adjunct) - Chairman, Chief Executive Officer, and Chief Investment Officer of Third Avenue Funds; author of "The Aggressive Conservative Investor" and "Value Investing"

[edit] Prominent alumni

Harkness Tower, situated in the Memorial Quadrangle at Yale
Harkness Tower, situated in the Memorial Quadrangle at Yale

Also see: List of Yale University people

Gina Boswell, COO of Avon North America.

[edit] Notes

  1. ↑ The Money Game (October 3, 2005). "Fortune Magazine"

[edit] See also

[edit] External links


Schools of Yale University
Yale College • Graduate School of Arts & Sciences
Professional Schools: School of Architecture • School of Art • Divinity School • School of Drama • Faculty of Engineering
School of Forestry & Environmental Studies • Law School • School of Management • School of Medicine • School of Music
School of Nursing • School of Public Health • Institute of Sacred Music
Historical School: Sheffield Scientific School


Ivy League business schools
Columbia Business School | Cornell (Johnson School) | Dartmouth (Tuck School)
Harvard Business School | Penn (Wharton School) | Yale School of Management
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