Overview:
McCombs School of Business at The University of Texas is one of the top MBA programs in the southwest, ranking 18th in 2009 by US News and World Report. McCombs is known to provide a strong background for candidates interested in entrepreneurship, finance, consulting, strategy, and marketing. With McCombs’s wide range of positives, candidates can easily build a curriculum to meet their individual needs and future life.
Admissions and Tuition:
Securing an admission in McCombs School of Business is no cakewalk and this can be proven by the statistical figures of the process for 2009-2010.
Total No of applicants = 523
Total No of candidates selected = 2284
No of students in class = 261
Average GMAT = 681
Average GPA = 3.45
Work-ex = Close to 5 yrs.
Average Age = 27 yrs
The statistics clearly testimonies the stringent selection procedure utilized for selecting the candidates. For instance, if we go by the above numbers, in 2009-2010 only 23% of the total applicants were successful in securing seats in the institute. Besides the stringent numbers, the student also needs to perform well in certain subjective areas equally well. These consist of essays, interviews.
When you plan to secure your admission in one of the top ranked MBA programs provided by the McCombs School of Business at The University of Texas be ready to shell out more. What you pay is however decided as your residency within the state and outside the state.
In state residents:
Tuition = $26,450
Recommended Annual Budget = $44,894
Total Programs = $53,500
Out of state residents:
Tuition = $42,580
Recommended Annual Budget = $61,024
Total Programs = $85,760
From the figures above, it can be seen that the nonresident students can be expected to pay a bit more than resident students. Also, besides availing the admission at a cheaper rate, resident students also have an added advantage of securing a seat easily.
With the cost of living increasing each year and course fee climbing year by year, it is difficult for students to pay such a hefty amount. To ease out your burden of fees during the course of your curriculum, the institute has gone a step ahead in providing financial aid through the Office of Student Financial Services. Again, the numbers speak for the work itself.
The course fees are excluded from the living cost which the students have to pay separately. Many graduate students live in the Hyde Park, Far West, and South Congress/Riverside neighborhoods, where prices range from $400-$1200 for monthly rentals.
The institute has helped 73% of current students to obtain financial aid, with an average package of $48,675. All applicants are considered for merit-based recruiting scholarships, with awards up to $10,000. Out-of-state tuition waivers are included with approximately 50% of these, making financing more manageable for students across the country and beyond. As well, students applying for international double degree programs are considered for the SYLFF Fellowship, which provides funding up to $25,000. Corporate and individual donors provide additional merit scholarships. The average scholarship for full-time students is $12,696.
Academics and Curriculum:
McCombs School of Business lays a strong and solid emphasis on business fundamentals which help the students to shape up their tough life in future.
The core curriculum requires 11 first year classes. Each of the class is widely spread and covers subjects which range from operations, finance, and marketing management to statistics, economics, and accounting.
It is only in the second semester that a student is allowed to pick electives which help the candidate to build on key business skills. The institute has made the curriculum very flexible. It allows students to pick and choose their own eclectic mix of classes instead of following prescriptive class lists. A candidate can prefer to chose concentrations or make their own. Out of the choices of streams available, approximately 50% of students take concentrations. Teaching methods are largely based on lectures (40%) and case study (35%), with experiential learning, team projects, and simulations trailing far behind.
Once inducted, the institute offers two-three weeks MBA orientation which takes place in August. Also, the McCombs Adventure program offers the option of an additional orientation week, in which students tour one of several international sites while getting to know their peers.
Alongside, this institution has gone a step ahead in providing an edge in its curriculum. Dual degrees are available with ten different programs. Many of these have a strong international bent, reflecting expanding worldwide business needs; programs are available in not only global policy but also Asian, Latin American, Middle Eastern, and Russian, Eastern European, and Eurasian studies. Internationalism is further apparent in McCombs’s 11 double degree programs, in which students earn both the American MBA and the equivalent in their overseas partner school. Latin American programs predominate, with four Mexican school partnerships over six campuses, and additional partnerships in Peru, Brazil, and Chile.
Quality of Life:
Located in Austin, the capital of Texas, McCombs School of Business ensures that its students not only have a dual benefit of a strong technical sector but also gain from an ever growing local industry.
Also, the institute has been structured in a way in which students can fully enjoy a vibrant downtown scene which includes music, beach, parks and night life amongst stress busting activities.
For instance, Austin, Live Music Capital of the World hosts world-class symphony, theatre, and dance, as well as an astounding variety of small, independent musical acts. To add to it, the South by Southwest Festival and Austin City Limits Music Festival further provide a multitude of eclectic performances each year.
Austin’s hot, dry summers and moderate winters make it an excellent choice for those who thrive on sun. This apart, local parks and trails provide ample hiking and biking, while Lake Travis hosts water sports of all kinds.
The course fees are excluded from the living cost which the students have to pay separately. Many graduate students live in the Hyde Park, Far West, and South Congress/Riverside neighborhoods, where prices range from $400-$1200 for monthly rentals.
Many graduate students live in the Hyde Park, Far West, and South Congress/Riverside neighborhoods, where prices range from $400-$1200 for monthly rentals. Hyde Park adjoins campus, allowing easy walks to class, while the UT Shuttle and Austin’s Capital Metro bus system connect students with more distant neighborhoods. Permit parking is available at a variety of campus lots and structures.
The institute also offers a repertoire of 40 clubs from the CleanTech Group and the Entrepreneur Society to the Mexican Business Association and the Venture Fellows.
In particular, McCombs School of Business touts the Plus Program, which provides dynamic leadership training with a huge variety of training and networking events, including industry seminars, micro-consulting projects, communication workshops, and peer assessments. Plus Program also offers Global Connections, providing 9-10 day intensive studies in locations ranging from China and Thailand to South Africa and Argentina. For hands-on learning, academic challenges in a variety of business specialties are given throughout the year. The MBA investment Fund further allows students to experience managing investments and practicing strategy. Finally, MBA candidates can compete in MOOT CORP, vying with worldwide teams for the best venture proposals. Winners earn a year of office space and development costs at the Austin Technology Incubator.
Employment Prospects:
McCombs graduates enjoy good job placement rates. According to BusinessWeek, 79% of 2009 graduates had received job offers by three months after graduation. The top two recruiters were Bank of America and nearby Dell. The mean base salary was $96,318 and the mean signing bonus $22,672. The vast majority of job offers—69%—resulted from school activities, while 31% resulted from independent student efforts. 42% of jobs were in the finance/accounting field, while 22% were in consulting, 18% in marketing/sales, and 12% in general management. The predominant region for job placement was by far the Southwest, at 54%. Elsewhere, placement trailed, with 12% in the West, 10% in the Northeast, and 8% in the South. 10% of students were recruited internationally. For summer internships, top recruiter Dell is followed by AT&T and Deloitte. 88% of internships are paid.
Texas MBA Career Services provides students and alumni the much needed help to provide coveted jobs. Working with over 350 companies, Career Services conducts recruiting events, leading to over 3000 on-campus interviews every year. Beginning with a core course in strategic career planning, students with the help of Career services staff learn interview strategies and marketing techniques.
In Sum:
The McCombs School of Business provides a high quality business education with a huge variety of available subjects and an equally distributed benefit for residents and non-residents. For in-state candidates, lower tuition works, while those who prefer to settle in the southwest enjoy high job placement rates.
Contact Information:
University of Texas McCombs School of Business
1 University Station B6000
Austin , Texas 78712 United States
http://mba.mccombs.utexas.edu
[email protected]
Quick Reference:
2009 U.S. News Ranking: 18th
Average GMAT score: 681
Average undergraduate GPA: 3.45
Application fee: $175
Application deadline: rolling, final date 4/1
Entering class size: 261
Yearly Tuition: $26,450 resident, $42,580 nonresident (2009-2010)
Percent of graduates employed 3 months after graduation: 78%
Average starting salary: $ 96,318
Average signing bonus: $ 22,672