Yale School of Management
{{Short description|Graduate business school of Yale University}}
{{Infobox university
| name = Yale School of Management
| image_name = Yale School of Management shield.svg
| image_upright = .6
| caption = Coat of arms of the school
| motto = Novus Ordo Seclorum (Latin)
| motto_lang = la
| mottoeng = "A New Order of the Ages"
"Educating Leaders for Business and Society"
| established = {{Start date|1976}}
| type = Private business school
| parent = Yale University
| city = New Haven
| state = Connecticut
| country = United States
| coor = {{Coord|41|18|55|N|72|55|13|W|region:US_type:edu|display=title}}
| dean = Kerwin Kofi Charles
| endowment = $1.27 billion{{Cite web |url=https://som.yale.edu/sites/default/files/2023-11/Impact%202022-2023_0.pdf |title=Impact |access-date=6 October 2024}}
| budget = $125.4 million {{cite magazine |date= March–April 2019 |title= By the Numbers: Operating Budgets |magazine= Yale Alumni Magazine|page=13|publisher= Yale Alumni Publications, Inc.}}
| academic_staff = 90 (including joint faculty)
| postgrad = 972, including:
666 MBA
70 MAM{{Cite web|url=https://som.yale.edu/programs/mam/the-student-experience/class-profile-class-of-2019|title=Class Profile: Class of 2019|date=2015-08-11|website=Yale School of Management|language=en|access-date=2019-08-15}}
134 EMBA
32 MGBS
11 MSR{{Cite web|url=https://poetsandquants.com/2019/06/24/yale-soms-ted-snyder-on-the-durability-of-the-m7-mba-application-declines-more/|title=Yale SOM's Ted Snyder On The Durability Of The M7, MBA Application Declines & More {{!}} Page 2 of 3|last=Byrne|first=John A.|date=2019-06-24|website=Poets&Quants|language=en-US|access-date=2019-08-15}}
| website = {{URL|som.yale.edu}}
}}
The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), Master's Degree in Systemic Risk (SR), Master's Degree in Global Business & Society (GBS), Master's Degree in Asset Management (AM),{{Cite web|url=https://som.yale.edu/news/2019/06/yale-som-to-launch-master-s-degree-in-asset-management|title=Yale SOM to Launch Master's Degree in Asset Management|date=2019-06-21|website=Yale School of Management|language=en|access-date=2019-06-27}} and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University. The Yale School of Management is one of six Ivy League Business Schools.
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 semester-long student exchange programs with HEC Paris, IESE, the London School of Economics, the National University of Singapore Business School, and Tsinghua University. Students may also propose a quarter- or semester-long exchange program with any of the 25 other schools of the Global Network for Advanced Management.{{Cite web|url=https://som.yale.edu/programs/mba/integrated-curriculum/global-study|title=Global Study|date=2018-03-22|website=Yale School of Management|language=en|access-date=2019-08-09}}
History
Beginning in the 1950s, Yale University started to expand coursework offerings in business and organization management. A precursor to the School of Management, the Department of Industrial Administration, grew out of the Labor and Management Center, and conferred the master in industrial administration from 1958 through 1973. Professors Thomas Holmes, Chris Argyris, and David Votaw were instrumental in founding the MIA. In 1971, Yale University received a donation establishing a program in management from Frederick W. Beinecke, PhB 1909. Arriving in 1976, the first class of the two-year program that awarded a master's degree in public and private management (MPPM) attended the campus on Hillhouse Avenue.{{cite web | url = http://www.yale.edu/printer/bulletin/pdffiles/som.pdf | page = 19 | title = School of Management 2016–2017 | publisher = BULLETIN OF YALE UNIVERSITY Series 112 Number 6 July 20, 2016 | access-date = 25 October 2017}}
Historically known for its strength in studies regarding nonprofits and the public sector, the school's focus began to evolve and changed its name to the Yale School of Management in 1994.{{cite web|url=http://som.yale.edu/our-approach/about-yale-som/history|title=History|website=Yale School of Management|access-date=14 October 2017}} Shortly thereafter in 1999, the School began offering a master of business (MBA) degree and discontinued the MPPM degree.
Yale SOM launched an executive MBA program for healthcare professionals in 2005, and in 2006, it introduced its mandatory, team-taught "Integrated Curriculum" for all MBA students.
File:Edward P. Evans Hall .jpg
File:Corridor inside Evans Hall.jpg
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 in January, SOM's new building, Edward P. Evans Hall, opened at 165 Whitney Avenue, one block away from the old campus on Hillhouse Avenue.
File:Yale School of Management - Evans Hall (54106005396).jpg
Foster and Partners, the firm chaired by Pritzker Architecture Prize Laureate Lord Norman Foster ARCH ’62, designed the building with Gruzen Samton stated as the Architect of Record. Edward P. Evans Hall houses technology-enabled classrooms, faculty offices, academic centers, and student and meeting spaces organized around an enclosed courtyard.{{cite news |url=http://www.bvhis.com/edward-p.-evans-hall-school-of-management,-yale-university.html |title=Supporting an Integrated MBA Curriculum |publisher=BVH Integrated Services, PC}}
Academics
=Integrated Curriculum=
For the 2006–07 academic year, the school introduced its "Integrated Curriculum", an effort to move away from the typical "siloed" teaching approach to a more cross-disciplinary curriculum.{{cite news |url=http://www.economist.com/business/displaystory.cfm?story_id=9149115 |title=MBA curriculum changes at Yale and Stanford |publisher=The Economist Magazine |access-date=2007-06-08 |date=2007-05-10}} A multi-year, in-depth case study of the curricular reforms undertaken by Yale SOM demonstrated that while most business school curricular reforms happen at the fringe of the curriculum, mostly as fad, Yale SOM reforms were effective, extensive and substantial (Ashish Jaiswal, 2015).{{Cite book |last=Jaiswal |first=Ashish |url=https://books.google.com/books?id=r2wKBgAAQBAJ&dq=how+to+reform+a+business+school+jaiswal&pg=PR9 |title=How to Reform a Business School – The Ivy League Way: Theory and Practice of Curricular Reform Implementation with an In-depth Case Study of Yale School of Management |date=2015-02-16 |publisher=OxCHEPS |isbn=978-0-9547433-8-3 |language=en}}{{Cite journal |last1=Nisula |first1=Karoliina |last2=Pekkola |first2=Samuli |date=2018-04-03 |title=How to move away from the silos of business management education? |url=https://www.tandfonline.com/doi/full/10.1080/08832323.2018.1425283 |journal=Journal of Education for Business |language=en |volume=93 |issue=3 |pages=97–111 |doi=10.1080/08832323.2018.1425283 |issn=0883-2323}} The new curriculum is composed of two components: foundational skills classes in a program called "Orientation to Management" that take place during the first semester of the MBA program and a set of classes called "Organizational Perspectives" that take place during the second through fourth quarters of the first academic year and are case- and lecture-focused courses that decompose business components into the perspectives of different stakeholders.{{cite web|url=http://som.yale.edu/programs/mba/curriculum/integrated-curriculum|title=Our Integrated Curriculum|website=Yale School of Management|access-date=14 October 2017}}{{cite news |url=https://www.wsj.com/articles/SB115257738700702887?mod=googlenews_wsj |title=M.B.A. Programs Blend Disciplines To Yield Big Picture |newspaper=Wall Street Journal |access-date=2007-06-29 | first=Ronald | last=Alsop | date=2006-07-11}}
==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.{{Cite web |url=http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html |title=Yale University Bulletin | School of Management 2015–2016 | M.B.A. Degree Program |access-date=2015-08-23 |archive-url=https://web.archive.org/web/20150918031743/http://www.yale.edu/printer/bulletin/htmlfiles/som/m.b.a.-degree-program.html |archive-date=2015-09-18 |url-status=dead }}
==Organizational Perspectives==
Organizational Perspectives is a series of interdisciplinary, team-taught master classes that make up the majority of required MBA courses at SOM. These courses include Employee, Innovator, Operations Engine, Sourcing and Managing Funds, Competitor, Customer, Investor, The Global Macro-economy, and State and Society. The final Organizational Perspectives course, the Executive, focuses on solving 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.
The Organizational Perspectives courses are both in lecture and case format which include cases from multi-media "raw" cases developed by SOM and the Global Network for Advanced Management.
==Electives==
MBA candidates are able to take electives courses at the School of Management commencing during the second semester of the MBA candidates' first year of instruction and during their entire second year of study. These electives include pedagogy drawing from traditional lecture and case-based instruction as well as includes independent reading and research with professors and instructors.
SOM students are also permitted to enroll in the classes offered by other graduate and professional schools and 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.
=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.
=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, completion of video questions, a behavioral assessment, and a fee. The behavioral assessment is a forced-choice, multiple-choice online module lasting 20–25 minutes that measures inter- and intra-personal competencies associated with business school success.{{cite web |last1=Byrne |first1=John A. |title=Yale SOM 2019-2020 MBA Application Deadlines |url=https://poetsandquants.com/2019/06/18/yale-som-2019-2020-mba-application-deadlines/?pq-category=admissions |website=Poets&Quants |date=18 June 2019}}
During the admissions cycle of 2020-2021, for the class of 2023, the MBA class was composed of 20% under-represented students of color, 49% of the US students are students of color, 9% are first-generation college graduates. Matriculating students represented 38 different countries and 176 different academic institutions with 15% having previously earned a graduate degree.{{Cite web|date=2021-08-27|title=Meet the MBA Class of 2023|url=https://som.yale.edu/blog/meet-the-mba-class-of-2023|access-date=2021-08-31|website=Yale School of Management|language=en}} Yale SOM is the fourth most selective MBA program with approximately 10.9 applicants competing for each seat.{{Cite web|url=https://poetsandquants.com/2019/07/27/the-most-selective-mba-programs/|title=The Most Selective MBA Programs {{!}} Page 4 of 5|last=Schmitt|first=Jeff|date=2019-07-27|website=Poets&Quants|language=en-US|access-date=2019-08-19}}
Students represent 47 international countries in the class of 2021 from countries including Armenia, Ghana, Lebanon, Mauritius, and Peru.
Collectively, the class of 2021 speaks 44 languages, with over 69% of the class speaking more than two languages, and 28% of the class speaking more than three languages.
=Employment statistics=
The class of 2021, median overall compensation was ~$193,000 for the first year out of school.{{Cite web|title=Employment Report {{!}} Yale School of Management|url=https://som.yale.edu/programs/mba/career-paths/employment-report|access-date=2022-02-14|website=som.yale.edu|language=en}} The distribution by employment location follows approximately one-half of the class staying within the Northeast (New York City & Boston), between one-quarter and one-third moving out west (San Francisco, Los Angeles, Seattle), and the remaining flowing to the Mid-Atlantic / Mountain West / South.
=Rankings=
{{Infobox business school rankings
| FT = 15
| USNWRg = 7
| BWg = 12
| QSUSA = 10
| QSglobal = 16
|FTus=13|
LinkedIn=11}}
Yale is ranked by Poets and Quants in the top ten over the past eight years and has remained in tenth place since 2015.{{Cite news|url=https://poetsandquants.com/2017/11/27/wharton-dislodges-harvard-from-top-of-pq-mba-ranking/?Quants|title=Wharton Dislodges Harvard To Top 2017 P&Q MBA Ranking|date=2017-11-27|work=Poets&Quants|access-date=2018-01-09|language=en-US}}
From 2011 to 2017, applications rose 46%—more than any other peer school, and 2017 alone saw a 12.3% increase in applications.{{Cite news|url=https://poetsandquants.com/2017/08/26/a-12-3-rise-in-mba-apps-at-yale-som/|title=A 12.3% Rise In MBA Apps At Yale SOM|date=2017-08-26|work=Poets&Quants|access-date=2018-01-09|language=en-US}} In 2017, total academic quality of its incoming class was second only to Stanford, and total median pay of its alumni exceeded Columbia's, MITs, and U Chicago, despite more students than other peer schools pursuing non-profit work.{{Cite news|url=https://poetsandquants.com/2017/11/27/wharton-dislodges-harvard-from-top-of-pq-mba-ranking/?Quants|title=Wharton Dislodges Harvard To Top 2017 P&Q MBA Ranking|date=2017-11-27|work=Poets&Quants|access-date=2018-01-09|language=en-US}} Yale ranked number one in U.S. News & World Report{{'}}s 2017 "Best Non-Profit MBA Rankings."{{Cite web|url=https://www.usnews.com/best-graduate-schools/top-business-schools/nonprofit-rankings|title=Best Nonprofit MBA Programs|website=U.S. News & World Report|archive-url=https://web.archive.org/web/20170314173205/https://www.usnews.com/best-graduate-schools/top-business-schools/nonprofit-rankings|archive-date=2017-03-14|url-status=dead}}
Yale's faculty were rated #1 of all MBA faculty in the Economist survey in 2018.{{Cite web|url=https://poetsandquants.com/2019/08/07/the-best-mba-faculty-yale-som-virginia-darden/?pq-category=mba-rankings|title=The Best MBA Faculty: Yale SOM & Virginia Darden|last=Schmitt|first=Jeff|date=2019-08-07|website=Poets&Quants|language=en-US|access-date=2019-08-15}}
The 2018 Princeton Review put SOM at #2 for "Best Green MBA," #6 for "Toughest MBA to get into," and #7 for "Best MBA for Consulting" and "Best MBA for Management."{{Cite web|url=https://www.princetonreview.com/business/yale-university--yale-school-management-1011188|title=Yale University - Yale School of Management - School Admissions The Princeton Review B-School Rankings & GMAT Scores|website=www.princetonreview.com|language=en|access-date=2018-03-14}}
Degrees
The Yale School of Management (SOM) offers a number of postgraduate degrees, including the two-year Master's of Business Administration (MBA), MBA for Executives, Master of Advanced Management (MAM), Masters of Management Studies in Systemic Risk, and several doctorate degrees.
=MBA=
The MBA a traditional full-time, two-year program that allows students to take a wide array of core courses and electives at the university.
=MBA for Executives=
The MBA for Executives at SOM during the 2017–18 academic year includes 71 students, 35% of whom are women.{{cite web |title=Yale SOM Welcomes MBA for Executives Class of 2020 |url=https://som.yale.edu/news/2018/07/yale-som-welcomes-mba-for-executives-class-of-2020 |website=Yale School of Management}} Graduates of the MBA for Executives program go through the full MBA-integrated core curriculum. 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.{{cite web|url=http://som.yale.edu/programs/emba/curriculum/integrated-curriculum|title=Our Integrated Core Curriculum|website=Yale School of Management|access-date=14 October 2017}}
=Master of Advanced Management=
The Master of Advanced Management (MAM) is a one-year degree program for MBA graduates from international business schools.
Admission to the Master of Advanced Management program is available to MBA students from top international business schools, including those in the Global Network for Advanced Management, who either (1) have recently graduated with an MBA degree or (2) who are enrolled in an MBA program and expect to receive their MBA degree or equivalent before matriculating at Yale.
Yale SOM may admit exceptional students from the Global Network for Advanced Management member schools who have not yet completed their MBA or equivalent degree provided.
The MAM class of 2022 is composed of 55 students from 27 countries and 17 Global Network for Advanced Management schools and is 45% women.{{cite web|url=https://som.yale.edu/programs/mam/the-student-experience/class-profile-class-of-2022|title=Class Profile: Class of 2022|date=9 May 2022|website=Som.yale.edu|access-date=9 May 2022}}
=Master of Management Studies in Systemic Risk=
The Master of Management Studies in Systemic Risk is a recent degree added to the SOM curriculum, added in the 2017–18 academic school year. The program is a specialized master's degree for early- and mid-career students who are interested in the role of central banking and other major regulatory agencies.{{cite web |title=Master's Degree in Systemic Risk |url=https://som.yale.edu/programs/mms-systemic-risk |website=Yale School of Management}} The Wall Street Journal has described the program as a "Degree of Danger" as it focuses on training the "next generation of regulators."{{cite news |title=Degree of Danger: Yale University Plans Master's in Systemic Risk |url=https://www.wsj.com/articles/degree-of-danger-yale-university-plans-masters-in-systemic-risk-1469646282 |website=Wall Street Journal|date=27 July 2016 |last1=Rubin |first1=Gabriel T. }}
=Master of Management Studies in Asset Management=
The Master of Management Studies in Asset Management is a graduate degree program that targets students as well as working professionals.{{Cite web|url=https://som.yale.edu/news/2019/06/yale-som-to-launch-master-s-degree-in-asset-management|title=Yale SOM to Launch Master's Degree in Asset Management|date=2019-06-21|website=Yale School of Management|language=en|access-date=2019-08-22}} The degree has been developed in parallel with and also runs in collaboration with the Yale Investments Office. The program is highly rigorous and quant-heavy, with Asset Management students taking on advanced PhD level coursework. Strong computer programming, mathematics, and statistics skills coupled with financial modeling and business-related experiences are needed for success in this program. The first cohort of 56 students was welcomed in 2021 with an acceptance rate of approximately 2%, making it the most selective out of all Yale University programs.{{Cite web|date=2021-08-27|title=Master's Degree in Asset Management Welcomes Inaugural Class|url=https://som.yale.edu/news/2021/08/master-s-degree-in-asset-management-welcomes-inaugural-class|access-date=2021-09-02|website=Yale School of Management|language=en}}
=Doctor of Philosophy=
The doctoral program (PhD) at Yale SOM is a full-time, in-residence program intended for students who plan scholarly careers involving research and teaching in management.{{cite web|url=http://som.yale.edu/overview|title=About Yale SOM|website=Yale School of Management|access-date=14 October 2017}} There are five major tracks for PhD students follow at SOM: Accounting, Finance, Marketing, Operations, and Organizations and Management. The program is structured so that it can be completed in three to five years.{{cite web |title=Overview |url=https://som.yale.edu/programs/phd/overview |website=Yale School of Management}} The curriculum for the first two years of PhD candidates is composed of 14 courses, which include two core courses, a social science sequence, an empirical methods sequence, a depth requirement, a breadth requirement, and electives.{{cite web|url=http://som.yale.edu/our-programs/doctoral-program/curriculum|title=Curriculum|website=Yale School of Management|access-date=14 October 2017}} The program is small and admits only a few students each year; there are currently 51 doctoral candidates in the program.{{cite web|url=http://som.yale.edu/apply|title=Apply to Yale SOM|website=Yale School of Management|access-date=14 October 2017}} All admitted students are given a full stipend for five years if they satisfy the program's requirements.
=Joint Degrees=
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.{{cite web|url=http://som.yale.edu/programs/joint-degree|title=Joint Degrees|website=Yale School of Management|access-date=14 October 2017}} Approximately 11% of MBA candidates of the class of 2021 are pursuing dual degrees. Further, in the 2018–2019 academic year, over 1,300 instances of non-SOM students from Yale College and other Graduate and Professional schools registered for SOM classes.{{Cite web|url=https://www.ft.com/content/b2e4cc66-ad24-11e9-8030-530adfa879c2|archive-url=https://ghostarchive.org/archive/20221211221240/https://www.ft.com/content/b2e4cc66-ad24-11e9-8030-530adfa879c2|archive-date=2022-12-11|url-access=subscription|url-status=live|title=Ted Snyder: Building bridges across an organisation|last=Moules|first=Jonathan|date=August 3, 2019|website=Financial Times|access-date=2019-08-09}}
=Global Pre-MBA Leadership=
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.{{Cite web |url=http://som.yale.edu/our-programs/global-pre-mba-leadership-program |title=Yale School of Management |access-date=2013-09-13 |archive-url=https://web.archive.org/web/20130920234629/http://som.yale.edu/our-programs/global-pre-mba-leadership-program |archive-date=2013-09-20 |url-status=dead }}
=Silver Scholars=
Initiated in 2001, it was originally open only to Yale undergraduates and was intended to attract more non-traditional MBA candidates with experience outside business and finance. It has since expanded to consider applications from college seniors around the world. Even so, the program remains small. In 2014, SOM admitted only 15 Silver Scholars.{{Cite news|url=https://poetsandquants.com/2014/10/31/yale-may-expand-silver-scholars-admits/|title=Yale May Expand Silver Scholar Admits|date=2014-10-31|work=Poets&Quants|access-date=2018-01-08|language=en-US}}
Despite conventional wisdom that MBA programs require previous work experience, Silver Scholars' job placement and scholarship statistics are at least as good as Yale's traditional MBAs.{{Cite web|url=https://www.ft.com/content/9ee03a88-09fa-11e0-9bb4-00144feabdc0|archive-url=https://ghostarchive.org/archive/20221211221256/https://www.ft.com/content/9ee03a88-09fa-11e0-9bb4-00144feabdc0|archive-date=2022-12-11|url-access=subscription|url-status=live|title=Young 'Silver scholars' defy the sceptics|date=2010-12-20|website=Financial Times|access-date=2018-01-17}} With an approximately 5% admit rate, the program is more selective than the traditional MBA program at Yale, as well as most other early admission MBA programs, including those at Stanford Graduate School of Business and Harvard Business School.{{Cite news|url=http://www.gyanone.com/blog/yale-silver-scholars/|title=Yale Silver Scholars - why it is unique|date=2014-04-05|work=MBA Admissions Consultant India|access-date=2018-01-17|language=en-US}}
The School offers the Silver Scholars Program to exceptional college seniors with a "combination of Intelligence, Maturity, and Curiosity, who aim to be leaders in their field."{{Cite web|url=http://intaadvising.gatech.edu/grad-school/silver-scholars-program-for-college-seniors-yale-school-of-management-deadline-sept-13-2017/|title=Silver Scholars Program for College Seniors, Yale School of Management – Connecticut – INTA Undergraduate Advising Blog|website=intaadvising.gatech.edu|language=en|access-date=2018-01-08}} It's been called an "alternative" to deferred admissions policies for undergraduate applicants offered by other top MBA programs. It is distinct in that it is one of a very small number of schools to offer an MBA schedule specifically tailored to recent graduates,{{Cite web|url=https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2017-04-17/consider-going-directly-from-college-to-an-mba-program|title=Consider Going Directly From College to an MBA Program {{!}} Top Business Schools {{!}} US News|last=Kowarski|first=Ilana|website=U.S. News & World Report|archive-url=https://web.archive.org/web/20170925160501/https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2017-04-17/consider-going-directly-from-college-to-an-mba-program|archive-date=2017-09-25|url-status=dead}} and the only one to offer a mid-program internship.{{cite web|url=http://www.gyanone.com/blog/yale-silver-scholars/|title=Yale Silver Scholars - why it is unique|date=5 April 2014|website=Gyanone.com|access-date=14 October 2017}}
Silver Scholars matriculate immediately from undergrad into the School of Management and participate in a one-year, full-time internship after completing the first year of the Integrated Core Curriculum. Following their internship, Silver Scholars return to campus to complete their second year of MBA coursework. At SOM, that second year has minimal requirements, and students may take courses across all Yale's grad schools. In some circumstances, Silver Scholars receive permission to defer their matriculation as a result of fellowships or other extraordinary circumstances or extend their internships by an additional year. A total of 17 Silver Scholars matriculated in the fall of 2019.
Community
=Student life=
Students at the School, like all Yale University students and alumni, are called "Yalies" or "SOMers." They operate more than 40 MBA student clubs.{{cite web|url=http://som.yale.edu/our-programs/mba/student-experience/student-clubs-groups|title=Student Clubs & Groups|website=Yale School of Management|access-date=14 October 2017}} There are career-oriented clubs such as Finance, Private Equity, Investment Management, Technology, Marketing, and Consulting. 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. There are also athletic clubs including soccer, frisbee, crew, rugby, 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. 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).{{cite web|url=http://www.yale.edu/gpss/GPSCY_Bar/gryphons.html|title=Welcome : Graduate and Professional Student Senate|website=Yale.edu|access-date=14 October 2017}}
=Alumni and student giving=
The Yale School of Management raised more than $3.9 million from a record 54.8% alumni in fiscal year 2018, the third straight year of participation of more than 50% of living alumni with an average donation size of $900.{{Cite web|url=https://poetsandquants.com/2019/06/24/yale-soms-ted-snyder-on-the-durability-of-the-m7-mba-application-declines-more/|title=Yale SOM's Ted Snyder On The Durability Of The M7, MBA Application Declines & More {{!}} Page 2 of 3|last=Byrne|first=John A.|date=2019-06-24|website=Poets&Quants|language=en-US|access-date=2019-08-15}}
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 University of Virginia Darden School of Business at 42% participation according to 2015 statistics.{{cite web|url=http://www.beatthegmat.com/mba/2015/08/21/record-alumni-giving-at-tuck-raises-more-funds-than-any-prior-year|title=Record Alumni Giving at Tuck Raises More Funds than Any Prior Year|website=Beatthegmat.com|access-date=14 October 2017|archive-date=1 September 2018|archive-url=https://web.archive.org/web/20180901113138/https://www.beatthegmat.com/mba/2015/08/21/record-alumni-giving-at-tuck-raises-more-funds-than-any-prior-year|url-status=dead}}
The graduating MAM, MBA, and Executive MBA classes of 2016 all had a 100% contribution rate towards their class gifts prior to commencement.{{cite web|url=http://yaledailynews.com/blog/2016/04/29/prof-schools-sees-variance-in-class-gift-participation/|title=Professional schools see variance in class gift participation|website=Yaledailynews.com|date=29 April 2016 |access-date=14 October 2017}}
Research
The School is home to the following research centers and programs:
- The Center for Business and Environment is a collaboration between the Yale School of Management and the Yale School of Forestry & Environmental Studies{{Cite web |url=http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html |title=Yale University Bulletin | School of Management 2014–2015 | History and Mission |access-date=2015-08-20 |archive-url=https://web.archive.org/web/20150711093648/http://www.yale.edu/printer/bulletin/htmlfiles/som/history-and-mission.html |archive-date=2015-07-11 |url-status=dead }}
- The Center for Customer Insights
- The International Center for Finance
- The Chief Executive Leadership Institute
- The China India Insights Program
- The Program on Entrepreneurship
- The Program on Social Enterprise
- The Initiative on Leadership and Organization
- The Yale Program on Financial Stability provides research and training regarding risk management in global financial markets. Regular panels are convened with participants including former Secretaries of the Treasury Timothy Geithner and Henry Paulson, and former Federal Reserve Chairman Ben Bernanke. Typical participants for master classes hosted by the Program on Financial Stability include members from over 20 central banks and several non-central bank organizations including the Federal Deposit Insurance Corporation.{{cite web|url=http://yaledailynews.com/blog/2015/08/20/yale-hosts-historic-master-class-on-financial-crises/|title=Yale hosts historic master class on financial crises|website=Yaledailynews.com|date=21 August 2015 |access-date=14 October 2017}}
- The Yale Center Beijing is located in the Chaoyang district of Beijing and supports research and study from each of the University's schools and divisions and serves as a gathering place for alumni from throughout Asia.
Media
Yale Insights is published by Yale SOM, covering a wide range of topics at the intersection of business and society.{{Cite web|url=https://insights.som.yale.edu/|title=Insights Homepage|website=Yale Insights|language=en|access-date=2018-03-15}}
Several podcasts are recorded at SOM, the most famous of which being The Design of Business | the Business of Design, hosted by Yale professors Michael Bierut and Jessica Helfand in coordination with a class they teach at SOM.
Finances
=Loan Repayment=
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.{{cite web|url=http://som.yale.edu/programs/mba/admissions/financing-your-mba/loan-forgiveness|title=Loan Forgiveness Program|website=Yale School of Management|access-date=14 October 2017}} It is the first program of its kind (started in 1986), and "is the most generous loan repayment program among business schools," with over $1.4M in loan forgiveness provided in 2014, and $7.7M from 2010 to 2015.{{Cite web|url=https://som.yale.edu/programs/mba/admissions/financing-your-mba/loan-forgiveness|title=Loan Forgiveness Program|website=Yale School of Management|language=en|access-date=2018-01-08}}
=Endowment=
{{Main|Yale University endowment}}
The School's endowment fund was valued at $861 million in 2019, which is the sixth largest endowment of any U.S. business school and third highest endowment per student.{{cite web|url=http://poetsandquants.com/2016/04/04/businessschoolendowments/3/|title=America's Wealthiest Business Schools - Page 3 of 4|date=4 April 2016|website=Poetsandquants.com|access-date=14 October 2017}}{{cite web|url=http://poetsandquants.com/2016/04/04/businessschoolendowments/4/|title=America's Wealthiest Business Schools - Page 4 of 4|date=4 April 2016|website=Poetsandquants.com|access-date=14 October 2017}} Yale University endowment fund manager David Swensen has generated exceptional investment returns over the past two decades.{{cite magazine |url=https://money.cnn.com/magazines/fortune/fortune_archive/2005/10/03/8356742/index.htm |title=The Money Game |magazine=Fortune Magazine |access-date=2007-06-08 | first=Marcia | last=Vickers | date=2005-10-03}}
Prominent faculty
class="wikitable" style="font-size: 95%;"
! !! 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 | (2011–2019) |
12 | Kerwin Kofi Charles | (2019–Present) |
- William Drenttel – American Artist and Designer
- Jeffrey Garten – former Under Secretary of Commerce for International Trade
- Gary Gorton – expert in stock and futures markets, banking, and asset pricing; Editor, Review of Economic Studies
- Roger G. Ibbotson – Chairman, Chief Investment Officer, and co-founder of Zebra Capital Management, LLC, an equity hedge fund management firm; founder of Ibbotson Associates (a division of Morningstar, Inc.); financial markets expert and co-author of Global Investing
- Edward H. Kaplan – operations research specialist; recipient of the Lanchester Prize and the Edelman Award
- Ira Millstein – antitrust lawyer with Weil, Gotshal & Manges, proponent of shareholder activism
- Barry Nalebuff – game theory specialist; co-founder of Honest Tea, Inc., a fast-growing beverage company
- Sharon Oster – competitive strategy authority; author of Modern Competitive Analysis
- Stephen Roach – Non-Executive Chairman of Morgan Stanley Asia; former Managing Director and Chief Economist of Morgan Stanley
- Robert Shiller – behavioral finance expert; Nobel Prize winner; Chief Economist and co-founder of MacroMarkets, LLC, a financial markets firm; author of Irrational Exuberance, Market Volatility, The New Financial Order: Risk In The 21st Century, and Macro Markets; co-developer of the Case-Shiller index
- Jeffrey Sonnenfeld – President and founder, The Chief Executive Leadership Institute
- David Swensen (adjunct) – Yale University Chief Investment Officer; manager of US$18 billion university endowment portfolio; developer of the Yale Model of investing; author of Pioneering Portfolio Management
- Victor Vroom – pioneer of expectancy theory
Donaldson Fellows Program for alumni
Starting in 2008, the School of Management began recognizing two-year Donaldson Fellows, "graduates whose personal and professional accomplishments embody the school's mission to educate leaders for business and society."{{cite web |url=https://som.yale.edu/yale-som-connect/alumni/donaldson-fellows |title=Donaldson Fellows |publisher=Yale School of Management |access-date=June 4, 2020}}
Notable alumni
{{asof|2019}}, there are over 8,692 alumni.
{{see also|List of Yale University people}}
- Bradley Abelow – Chief Operating Officer and executive in financial firms, and 2010-2011 Donaldson Fellow
- Beth Axelrod – Head of Human Resources, Airbnb & eBay, and 2014-2015 Donaldson Fellow
- Adam Blumenthal – Managing General Partner, Blue Wolf Capital Management, and 2008-2009 Donaldson Fellow
- Laszlo Bock – CEO and co-founder, Humu; former Vice President, People Operations, Google, and 2008-2009 Donaldson Fellow
- Roger H. Brown – President, Berklee College of Music
- Tim Collins (financier) – CEO and founder, Ripplewood Holdings LLC
- Curtis Chin – Asia Fellow, Milken Institute, and 2018-2019 Donaldson Fellow
- Michael R. Eisenson – CEO, Managing Director, and co-founder, Charlesbank Capital Partners
- Justin Elicker — mayor of New Haven, Connecticut
- Donald Gips – United States Ambassador to South Africa
- Anne Glover – CEO and co-founder, Amadeus Capital Partners
- Seth Goldman (businessman) – CEO and President, Honest Tea; Chairman, Beyond Meat
- John D. Howard – CEO, Irving Place Capital (formerly Bear Stearns Merchant Banking)
- Mary Ellen Iskenderian – CEO and President, Women's World Banking
- Martha N. Johnson – Administrator, United States General Services Administration
- Trish Karter – founder, Dancing Deer Baking Co.
- Susan Kilsby – chairman of Shire{{cite web|title=Credit Suisse Group Ag-Reg: Susan Saltzbart Kilsby|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=1919066&privcapId=405739|website=Bloomberg|access-date=4 September 2017}}
- Ned Lamont – Chairman of Lamont Digital Systems, 89th Governor of Connecticut
- Zhang Lei – Founder and Managing Partner, Hillhouse Capital Group, donated $8,888,888 to Yale SOM
- Austin Ligon – Co-founder and retired CEO, CarMax
- Jane Mendillo – CEO and President, Harvard Management Company
- Wendi Deng Murdoch – Director, MySpace China; former VP, News Corporation; wife of Rupert Murdoch
- Indra Nooyi – former CEO, PepsiCo, Inc.
- Ken Ofori-Atta – Executive Chairman and Co-Founder, Databank Financial Services, Ltd. (Ghana), and 2010-2011 Donaldson Fellow
- Ann Olivarius – Chair, McAllister Olivarius, and 2016-2017 Donaldson Fellow
- Bruce Ovbiagele - Chief of Staff, San Francisco Healthcare System{{cite web |title=Dr. Bruce Ovbiagele elected to National Academy of Medicine |url=https://www.research.va.gov/about/awards/awardee.cfm?award=176078 |website=www.research.va.gov |access-date=24 August 2024 |language=en |date=1 November 2021}} and Founder, Society for Equity Neuroscience;{{cite web |title=Society for Equity Neuroscience |url=https://www.s-equi-ns.org |website=SEQUINS |access-date=24 August 2024 |language=en}} Yale Global Executive Leadership Program (YGELP) Scholar '18.
- Hilary Pennington – Director of Education, Postsecondary Success, Special Initiatives, U.S. Programs, Bill & Melinda Gates Foundation, and 2010-2011 Donaldson Fellow
- Tahira Rehmatullah - American businesswoman and advocate for cannabis reform
- Bobby Sager – Philanthropist on whom the title character of NBC TV show The Philanthropist is loosely based
- Ashwin Sanghi – Writer Chanakya's Chant The Rozabal Line
- Neil Shen – Managing Partner and Co-founder, HongShan
- John L. Thornton – Professor and Director of Global Leadership, Tsinghua University; Senior Advisor and Former President and Co-COO, Goldman Sachs
- Chad Troutwine – CEO and Co-founder, Veritas Prep
- Daniel Weiss – CEO, Metropolitan Museum of Art; former President, Haverford College; former President, Lafayette College
See also
References
{{Reflist}}
External links
{{commons category|Yale School of Management}}
- [https://som.yale.edu Official site]
{{Yale}}
{{Business schools in Connecticut}}
{{authority control}}
Category:Yale University buildings
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Category:Business schools in Connecticut
Category:Educational institutions established in 1976
Category:Ivy League business schools
Category:Universities and colleges in New Haven, Connecticut