| Yale School of Management | |
| Motto | Novus Ordo Seclorum (Latin) |
| Mission | Educating leaders for business and society |
| Established | 1976 |
| Type | Private business school |
| Endowment | U.S. $536 million (2011) |
| Dean | Edward A. Snyder |
| Faculty | 97 (including joint faculty) |
| Students | 454, in 2010-11 (MBA) |
| Location | New Haven, Connecticut, USA |
| Affiliations | Yale University |
| Website | 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, United States. The School offers Master of Business Administration (MBA) and Ph.D. degree programs. As of January 2011, 454 students were enrolled in its MBA program. The School has 97 faculty members (including joint faculty) and the dean is Edward A. Snyder.
The School 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 Executive MBA in Healthcare degree designed for professionals in the health care industry. The School cosponsors (with the Divinity School) a seminar on faith and globalization instructed by former British Prime Minister Tony Blair. The school also offers student exchange programs with HEC Paris, IESE, the London School of Economics, and Tsinghua University.
The seven most represented undergraduate universities in the MBA student body for the combined classes of 2011-2012 are (in descending order) Yale University, University of Pennsylvania, Stanford University, Brown University, Cornell University, Harvard University, and Columbia University. The class of 2012 has an average GMAT score of 722, an average undergraduate GPA of 3.52, and an average of 5 years of full-time work experience.[1][2] The acceptance rate was 17.3%.[3] For the class of 2011, mean base salary upon graduation was $106,157. The mean signing bonus was $29,276.[4]
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The campus includes a number of 19th-century mansions within the Hillhouse Avenue Historic District, including two by renowned architect Henry Austin. The campus also includes contemporary facilities, such as Donaldson Commons, which is named after William H. Donaldson, the founding dean of the School.
A planned new campus and main building, at an estimated cost of US $150 million, is scheduled for completion by 2013. On September 17, 2007, Yale University President Richard Levin announced that renowned architectural firm Foster + Partners was selected to build the new campus. On December 20, 2010, President Levin announced that Yale had received a US $50 million gift from Yale alumnus Edward P. Evans, which will be recognized with the naming of the new main building as Edward P. Evans Hall. Ground was broken for the new campus on April 26, 2011.[5]
For the 2006-2007 academic year, the School introduced its "Integrated Curriculum," an effort to move away from the typical "siloed" teaching approach to a more functional and integrated perspective.[6] As part of the Integrated Curriculum, first year students 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. Also, first-year students take at least one elective and are required to spend two weeks studying abroad, meeting with business leaders and government officials in Brazil, China, India, Ghana, Egypt, Israel, Japan, UAE, or elsewhere. The second-year curriculum comprises electives. The new curriculum is unique among those offered by leading business schools.[7]
| School rankings (overall) | |
|---|---|
| U.S. MBA | |
| Bloomberg BusinessWeek[8] | 21 |
| Forbes[9] | 11 |
| U.S. News & World Report[10] | 10 |
| Worldwide MBA | |
| América Economía[11] | 14 |
| Economist[12] | 26 |
| Financial Times[13] | 15 |
The School's joint-degree programs include the 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/MPH with Yale School of Public Health, MBA/MA in International Relations with Yale Graduate School of Arts and Sciences, and MBA/MA in Russian and East European Studies with Yale Graduate School of Arts and Sciences.
The School also offers the Silver Scholars Program for exceptional college seniors. Among traditional MBA applicants, approximately 30% of incoming students receive merit-based academic scholarships based on prior academic performance, evidence of leadership potential, and standardized test scores.
For students interested in pursuing careers in government or non-profit sectors, Yale SOM offers a generous loan forgiveness policy. Eligible alumni may apply at any time during the first 10 years following graduation. Graduates with incomes of $77,600 or less who work full-time for government or nonprofit organizations receive full reimbursement for their annual debt repayment on need-based loans. Those who make more than $77,600 can receive partial loan forgiveness.[1]
Students at the School, like all Yale University students and alumni, are called "Yalies" or "Elis" after Elihu Yale; they are also known as "SOMers." They operate more than 50 MBA student clubs. There are career-oriented clubs such as Finance, Private Equity, Biotechnology, Investment Management, Technology, Marketing and Consulting. There are also clinic type clubs, such as Global Social Enterprise and SOM Outreach, through which students complete pro bono consulting engagements with local and international non-profits. There are also athletic clubs including soccer, frisbee, crew, skiing, and squash. SOM participates in the coed MBA ice hockey tournaments during winter months. 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.[26] Yale MBA students, like other members of the Yale graduate student community, frequent Gryphon’s Pub, the bar owned and operated by GPSCY (Graduate and Professional Students Center at Yale).[27]
More graduates of the Yale School of Management enter management scholarship than do their contemporaries at other graduate schools of business, with more MBA graduates entering doctoral programs in business.
The School is home to the following research centers:
The School's endowment fund, valued at US $536 million in 2011, is part of the larger Yale University endowment. 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.[28]
| Dean | Years | |
|---|---|---|
| 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 | (2005–2008) |
| 9 | Sharon Oster | (2008–2011) |
| 10 | Ted Snyder | (2011–Present) |
Also see: List of Yale University people
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