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Yale School of Management |
| Yale School of Management | |
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| Motto | Novus Ordo Seclorum (Latin) |
| Mission | Educating leaders for business and society |
| Established | 1976 |
| Type | Private |
| Endowment | U.S. $575 million (2007) |
| Dean | Sharon Oster |
| Faculty | 81 (including joint faculty) |
| Students | 468 (MBA) |
| Location |  New Haven, Connecticut, U.S. |
| 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 M.B.A. and Ph.D. degree programs. As of spring 2006, 468 students were enrolled in its Master of Business Administration program. The School has 81 faculty members (including joint faculty) and the dean is Sharon Oster.
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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 campus includes 19th-century mansions and contemporary buildings. Donaldson Commons, the school's main dining facility, is named after 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 2011. On September 17, 2007, Yale University President Richard Levin announced that renowned architectural firm Foster + Partners was selected to build the new campus.
The School was founded in 1976 by William H. Donaldson, founder of Donaldson, Lufkin & Jenrette and former Chairman of the Securities and Exchange Commission, as the Yale School of Organization and Management. The funds to establish the School materialized when Frederick William Beinecke, a Yale College alumnus, left US $15 million to Yale in 1971. The School awarded its first graduate business degrees in 1978 and was renamed the Yale School of Management in 1994.
| 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 | (2005–2008) |
| 9 | Sharon Oster | (2008–Present) |
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.1 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, or elsewhere. The second-year curriculum comprises electives. The new curriculum is unique among those offered by leading business schools.2
Admission to the School is very competitive; for the class of 2009, 14.7% of applicants were admitted, making it the most selective year ever for SOM. Yale is consistently ranked among the top MBA programs in the world. As of October 2008, it is ranked #8 by Forbes, #13 by US News, #8 by the Wall Street Journal, #19 by BusinessWeek, #15 in the United States by The Economist and #9 in the United States by Financial Times.
Students at the School, like all Yale University students and alumni, are called "Yalies" or "Elis" after Elihu Yale. 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 athletic clubs including soccer, 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.3
The School is home to the following research centers:
The School's endowment fund, valued at US $575 million in 2007, 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.4
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.
Also see: List of Yale University people
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