Yale School of Management

Yale School of Management

Shield of the Yale School of Management
Motto Novus Ordo Seclorum
Motto in English "A New Order of the Ages" "Educating Leaders for Business and Society"
Established 1976 (1976)
Type Private business school
Academic affiliation Yale University
Location New Haven, Connecticut, USA
Coordinates: 41°18′55″N 72°55′13″W / 41.31528°N 72.92028°W / 41.31528; -72.92028
Dean Edward A. Snyder
Academic staff 86 (including joint faculty)
Students 668[1]
Postgraduates 845 (668 MBA, 63 MAM, and 114 EMBA)[2]
Doctoral students 51[3]
Website http://som.yale.edu

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University and is located on Whitney Avenue in New Haven, Connecticut, United States. The School awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University. As of August 2015, 668 students were enrolled in its MBA program, 114 in the EMBA program, 63 in the MAM program, and 51 in the PhD program; 122 students were pursuing joint degrees.[4] The School has 86 full-time faculty members, and the dean is Edward A. Snyder.

The School conducts education and research in leadership, behavioral economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas. The EMBA program offers focused study in healthcare, asset management, or sustainability. The School also offers student exchange programs with HEC Paris, IESE, IE Business School, the London School of Economics, the National University of Singapore Business School, and Tsinghua University.[5]

History

Beginning in the 1950 and '60s, Yale University began its efforts to expand its coursework offerings in business and large organization management. In 1971, Yale University received a bequest for the creation of a program in management from Frederick W. Beinecke, PhB 1909, and the Yale Corporation approved the establishment of a School of Organization and Management two years later. The School's first class arrived in 1976 for a two-year program that awarded a master's degree in public and private management (MPPM).[6]

Founders Hall, the school's former main building

Following evolution in the practice and instruction of management in higher education, the school changed its name to the Yale School of Management in 1994.[7] The School began offering a master of business (MBA) degree in 1999.[8]

Steinbach Hall, a mansion formerly used by the school on Hillhouse Avenue

Yale SOM launched an MBA for Executives for healthcare professionals in 2005, and in 2006 it introduced SOM's integrated core curriculum, which is designed to prepare leaders for cross-functional environments in modern businesses and organizations.[9] The integrated core is a set of mandatory team-taught classes taken during the first year of MBA study focusing on solving business problems from stakeholder's perspectives (Such as "the Employee," "the Competitor," and "the Executive"), in contrast to traditional business school courses that are more segmented and less integrated.[10]

Concurrently in 2012, SOM launched the Global Network for Advanced Management (GNAM) and the Master of Advanced Management (MAM) program, a one-year program in advanced leadership and management, open to students who have earned or are earning an MBA or equivalent degree from GNAM member schools.[11]

In 2014, Yale SOM enrolled its first class of students in an expanded MBA for Executives program, offering the Yale MBA integrated core along with advanced study in asset management, healthcare, or sustainability. That same year, SOM's new building, Evans Hall, opened.[12]

Campus

Front of Evans Hall

Edward P. Evans Hall, a 249,743-square-foot building named after the Yale alumnus who donated $50 million to the school, is the new home for Yale School of Management as of January 2014.[13] The building, capturing the retro-futuristic bimorphic architectural spirit, is situated at the northern end of the Yale University campus at 165 Whitney Avenue on 4.25 acres and cost a reported $189 million.[14][15]

An inaugural conference entitled "Business + Society: Leadership in an Increasingly Complex World" marked the opening of the new campus. The three-day conference examined major trends transforming markets and organizations around the world.[16]

The building was designed by Foster + Partners, Design Architect with Gruzen Samton, Architect of Record. Foster + Partners is the firm chaired by Pritzker Architecture Prize Laureate Lord Norman Foster ARCH ’62. Edward P. Evans Hall houses technology-enabled classrooms, faculty offices, academic centers, and student and meeting spaces organized around an enclosed courtyard. The design is intended to create a teaching and learning environment that will support the school’s integrated MBA curriculum and connect the Yale SOM community.[17]

MAM program

The Master of Advanced Management program is a one-year program for students from Global Network for Advanced Management schools who want to deepen their understanding of the most complex management issues facing leaders worldwide.

MAM students participate in a required series of courses and discussions oriented around major trends in global business and the role of business leaders, and customize their experience by choosing electives from throughout Yale University.

The MAM class of 2016 is composed of 63 students from 34 countries and 20 Global Network for Advanced Management schools and is 38% women.[18]

MBA program

Integrated Curriculum

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 integrated perspective.[19] The curriculum is designed to reflect the contexts encountered by today's leaders to prepare students for different scenarios and environments in the global economy.[20] Courses in this first year curriculum are taught in two primary segments: Orientation to Management and Organizational Perspectives.

Orientation to Management

The Orientation to Management is the first segment of the curriculum, which introduces students to core concepts and business skills. The constituent courses include Managing Groups and Teams, Global Virtual Teams, Basics of Accounting, Probability Modeling and Statistics, Basics of Economics, Modeling Managerial Decisions, and Introduction to Negotiation.[21]

Organizational Perspectives

The core of the integrated curriculum and first-year experience is a series of multi-disciplinary, team-taught master classes called Organizational Perspectives. These courses include Employee, Innovator, Operations Engine, Sourcing and Managing Funds, Competitor, Customer, Investor, The Global Macro-economy, and State and Society.[22] The final Organizational Perspectives Course, the Executive, invites students to evaluate and solve a series of case studies involving cross-national or global business challenges and draw on the subject matter taught in the other Organizational Perspectives courses and Orientation to Management skills.[23]

The Organizational Perspectives courses draw from multi-media "raw" cases developed by SOM and the Global Network for Advanced Management peer schools on topics from real-world challenges facing business, government, and nonprofit organizations.[24]

Electives

MBA Candidates are able to take electives courses at the School of Management during their second semester of their first year and all throughout their second year.[25] These electives include traditional instruction as well as independent reading and research with professors and instructors.[26]

SOM students are also permitted to enroll in classes offered by another school at Yale University including the Yale Graduate School of Arts and Sciences, Yale Law School, Yale School of Public Health, and undergrad classes at Yale College.[27]

Global Studies Requirement

MBA candidates are required to complete a Global Studies Requirement prior to graduation. This requirement can be fulfilled a number of ways including an International Experience Course, a Global Network Week, a Global Network Course, The Global Social Entrepreneurship Course, the Global Social Enterprise Course, or a term-long international exchange with a partner school.[28]

Leadership Development Program

All Yale School of Management students participate in the Leadership Development Program that commences during orientation and continues throughout their tenure at SOM. The curriculum is composed of a series of graded classes, assessments, group and individual meetings, and professional coaching opportunities to develop each student's leadership style and potential.[29]

During their first year, MBA candidates take the Leadership Fundamentals course in the fall and the Advanced Leadership course in the spring. Second-year students complete a year-long practicum overseen by leadership coaches and professionals.[30]

MBA for Executives

The MBA for Executives at SOM during the 2015–2016 academic year includes 63 students, 41% of whom are women.[31] Graduates of the MBA for Executives program go through the full integrated core curriculum and leadership development program. They also take advanced management courses as well as colloquia and advanced courses in one of three areas of focus: healthcare, asset management, or sustainability.[32]

Rankings

Business school rankings
U.S. MBA
Bloomberg Businessweek[33] 11
Forbes[34] 11
QS (North America)[35] 11
U.S. News & World Report[36] 8
Vault.com[37] 12
Worldwide MBA
América Economía[38] 9
Business Insider[39] 9
CNN Expansion[40] 14
Economist[41] 19
Financial Times[42] 18

Admission

Admission requirements for the MBA include an earned four-year bachelor's degree from an accredited U.S. institution or the international equivalent, completion of an online application form and essay, GMAT or GRE score, academic transcripts, two professional recommendations, and completion of video questions. The application process has three rounds.[54]

During the 2014–2015 applications cycle for the MBA Class of 2017, applications were up 25%.[55] The MBA Class of 2017 has a median GMAT score of 720 with the middle 80% GMAT range being 690–760 and a median undergraduate GPA of 3.6 with a middle 80% undergrad GPA range of 3.23–3.88.[56] The 326 members of the Class of 2017 are made up of 40% women, 40% international students, and 10% under-represented U.S. minorities.[57]

Class MBA Class of '17 MBA Class of '16 MBA Class of '15
Students 326 323 291
Women 40% 37% 39%
International Students 40% 39% 32%
Median GMAT 720 720 720
Middle 80% GMAT range 690–760 680–760 690–740
Median undergrad GPA 3.6 3.56 3.6
80% undergrad GPA 3.23–3.88 3.17–3.87 3.36–3.8

[58]

Employment statistics

For the MBA Class of 2014, the full-time median salary upon graduation was $110,000 with median other guaranteed compensation being $35,000.[59]

Joint-degree and scholarship programs

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 or MF 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, and MBA/MA in Global Affairs with the Jackson Institute for Global Affairs.[60]

The School also offers the Silver Scholars Program for exceptional college seniors. Silver Scholars matriculate immediately from undergrad into the School of management and participate in a one-year internship after completing the first year of the Integrated Core Curriculum.[61] Following their internship, Silver Scholars return to campus to complete their MBA coursework.[62] In some circumstances, Silver Scholars receive permission to extend their internships by an additional year.[63]

Graduates who meet income eligibility requirements and who work full-time for government or nonprofit organizations can receive full or partial loan reimbursement for their annual debt repayment on need-based loans.[64]

Student life

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 40 MBA student clubs.[65] There are career-oriented clubs such as Finance, Private Equity, Investment Management, Technology, Marketing, and Consulting.[66] There are clinic-type clubs, such as Global Social Enterprise and Outreach Nonprofit Consulting, through which students complete pro bono consulting engagements with local and international non-profits.[67] There are also athletic clubs including soccer, frisbee, crew, skiing, and squash. SOM participates in the coed MBA ice hockey tournaments during winter months.[68] 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. 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).[69]

Alumni Giving

The Yale School of Management raised more than $3 million from a record 51.5% alumni in fiscal year 2015.[70] SOM is the business school with the second-highest alumni participation in annual charitable contributions, behind Dartmouth Tuck School of Business at 70+% contribution and ahead of the The University of Virginia Darden School of Business at 42% participation[71]

Doctoral program

The doctoral program at Yale SOM is a full-time, in-residence program intended for students who plan scholarly careers involving research and teaching in management.[72] There are five major tracks for PhD students follow at SOM: Accounting, Finance, Marketing, Operations, and Organizations and Management.[73]

The program is designed to be completed in four or five years.[74] The curriculum for the first two years of PhD candidates is composed of 14 courses .[75] The program is small and admits only a few highly qualified students each year; there are currently 51 doctoral candidates in the program.[76]

Global Pre-MBA Leadership Program

The school offers a Global Pre-MBA Leadership Program that introduces recent college undergraduates from cultural backgrounds that are under-represented in graduate management education to the benefits of an MBA degree.[77]

Research and endowment

The School is home to the following research centers and programs:

The School's endowment fund was valued at US $536 million in 2012.[88] Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades.[89]

Prominent faculty

Steinbach Hall Tower
Dean Years
1 William H. Donaldson (1975–1980)
2 Geoffrey C. Hazard, Jr. (1980–1981)
3 Burton G. Malkiel (1981–1987)
4 Merton J. Peck (1987–1988)
5 Michael E. Levine (1988–1992)
6 Paul MacAvoy (1992–1994)
7 Stanley Garstka (1994–1995)
8 Jeffrey Garten (1995–2005)
9 Joel M. Podolny (2005–2008)
10 Sharon Oster (2008–2011)
11 Ted Snyder (2011–Present)

Notable alumni

Also see: List of Yale University people

See also

Wikimedia Commons has media related to Yale University.

Notes

  1. ↑ "Yale SOM overview".
  2. ↑ http://som.yale.edu/apply
  3. ↑ http://som.yale.edu/apply
  4. ↑ http://som.yale.edu/apply
  5. ↑ http://som.yale.edu/programs/mba/curriculum/international-offerings
  6. ↑ http://www.yale.edu/printer/bulletin/pdffiles/som.pdf
  7. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  8. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  9. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  10. ↑ http://som.yale.edu/programs/mba/curriculum/integrated-curriculum
  11. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  12. ↑ http://som.yale.edu/our-approach/about-yale-som/history
  13. ↑ http://www.architectmagazine.com/design/buildings/edward-p-evans-hall-designed-by-foster-partners_o
  14. ↑ http://epefoundation.org/yale/
  15. ↑ http://www.architectmagazine.com/design/buildings/edward-p-evans-hall-designed-by-foster-partners_o
  16. ↑ http://som.yale.edu/our-approach/edward-p-evans-hall/opening-events/business-society-leadership-increasingly-complex-world
  17. ↑ "Supporting an Integrated MBA Curriculum". BVH Integrated Services, PC.
  18. ↑ http://som.yale.edu/news/2015/08/mam-class-2016-arrives-yale-som
  19. ↑ "MBA curriculum changes at Yale and Stanford". The Economist Magazine. 2007-05-10. Retrieved 2007-06-08.
  20. ↑ Alsop, Ronald (2006-07-11). "M.B.A. Programs Blend Disciplines To Yield Big Picture". Wall Street Journal. Retrieved 2007-06-29.
  21. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  22. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  23. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  24. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  25. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  26. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  27. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  28. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  29. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  30. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  31. ↑ http://som.yale.edu/news/2015/07/yale-som-welcomes-diverse-mba-executives-class-2017
  32. ↑ http://som.yale.edu/programs/emba/curriculum/integrated-curriculum
  33. ↑ "Best Business Schools 2015". Bloomberg Businessweek. 2015. Retrieved 2016-02-06.
  34. ↑ "The Best Business Schools". Forbes. 2015. Retrieved 2016-02-06.
  35. ↑ "TopMBA Global 200 Business Schools Report". Quacquarelli Symonds. 2015. Retrieved 2015-01-25.
  36. ↑ "Best Business Schools". U.S. News & World Report. 2015. Retrieved 2016-02-06.
  37. ↑ "Best Business Schools". Vault.com. 2015. Retrieved 2016-02-09.
  38. ↑ "MBA Global Ranking". América Economía. 2015. Retrieved 2016-02-06.
  39. ↑ "The 50 best business schools in the world". Business Insider. 2015. Retrieved 2016-02-06.
  40. ↑ "Ranking:Los Mejores MBA en el mundo". CNN Expansion. 2015. Retrieved 2016-02-06.
  41. ↑ "Full time MBA ranking". Economist. 2015. Retrieved 2016-02-06.
  42. ↑ "Global MBA Ranking". Financial Times. 2016. Retrieved 2016-02-06.
  43. ↑ "2015 Business School Rankings". Businessweek. Retrieved 2015-10-21.
  44. ↑ "Financial Times MBA 2014". Financial Times. 2014.
  45. ↑ "A League of Their Own: The Top 10 Programmes in Selected Categories" (PDF). Financial Times. 2014. Retrieved 2014-01-26.
  46. ↑ "A League of Their Own: The Top 10 Programmes in Selected Categories" (PDF). Financial Times. 2014. Retrieved 2014-01-26.
  47. ↑ "A League of Their Own: The Top 10 Programmes in Selected Categories" (PDF). Financial Times. 2014. Retrieved 2014-01-26.
  48. ↑ "The World's Best Business Schools". Business Insider. Retrieved 2013-07-17.
  49. ↑ "QS Global 200 Business Schools Report 2014, North America".
  50. ↑ "America's Best Graduate Schools 2013". U.S. News & World Report. L.P. Retrieved 2011-03-15.
  51. ↑ "America's Best Graduate Schools 2012, Specialty Rankings". U.S. News & World Report. L.P. Retrieved 2011-03-15.
  52. ↑ "2009 Rankings". The Economist. Retrieved 2009.
  53. ↑ Badenhausen, Kurt (2009-08-05). "The Best Business Schools". Forbes.com (Forbes.com LLC). Retrieved 2009-10-24.
  54. ↑ http://som.yale.edu/programs/mba/admissions/application-information/faq
  55. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  56. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  57. ↑ http://som.yale.edu/our-programs/full-time-mba/student-experience/class-profile
  58. ↑ http://poetsandquants.com/2015/08/23/the-gatekeeper-at-yale-school-of-management/
  59. ↑ http://som.yale.edu/our-programs/mba/careers/employment-report
  60. ↑ http://som.yale.edu/programs/joint-degree
  61. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  62. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  63. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html
  64. ↑ http://som.yale.edu/programs/mba/admissions/financing-your-mba/loan-forgiveness
  65. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  66. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  67. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  68. ↑ http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups
  69. ↑ http://www.yale.edu/gpss/GPSCY_Bar/gryphons.html
  70. ↑ http://som.yale.edu/yale-som-connect/alumni/support-yale-som/alumni-fund
  71. ↑ http://www.beatthegmat.com/mba/2015/08/21/record-alumni-giving-at-tuck-raises-more-funds-than-any-prior-year
  72. ↑ http://som.yale.edu/overview
  73. ↑ http://som.yale.edu/overview
  74. ↑ http://som.yale.edu/our-programs/phd/admissions/frequently-asked-questions
  75. ↑ http://som.yale.edu/our-programs/doctoral-program/curriculum
  76. ↑ http://som.yale.edu/apply
  77. ↑ http://som.yale.edu/our-programs/global-pre-mba-leadership-program
  78. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  79. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  80. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  81. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  82. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  83. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  84. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  85. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  86. ↑ http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html
  87. ↑ http://yaledailynews.com/blog/2015/08/20/yale-hosts-historic-master-class-on-financial-crises/
  88. ↑ http://fortune.com/2012/02/08/yale-b-school-wants-a-piece-of-the-spotlight/
  89. ↑ Vickers, Marcia (2005-10-03). "The Money Game". Fortune Magazine. Retrieved 2007-06-08.

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