Overview :
The University Of Chicago Graduate School Of Business, which has existence of over two thousand years, is regarded as the world’s second largest business school. Established in 1898, the business school is well-known for its prestigious MBAs in the country.
A leader amongst the business schools, one of the striking difference between the University and its peers are its faculty and placement opportunities. The school boasts of its experienced faculty members most of which are Noble Prize winners. If that is not all, the University also flaunts the reputation it has amongst major companies and firms across the world. According to the institute, this is likely to help the students improve their career prospects on graduation.
Admission and Tuition:
The institute’s rapport with the corporate world plays a pivotal role in selecting well suited candidates from a pool of over 4,000 applicants. Keeping in mind its reputation with the business world, the institute judiciously offers only 900 seats to deserving and highly qualified applicants, which is less than 25% of the total petitions for admission.
While the stringent selection procedure does make the entry into the institute tough, if one takes proper steps one can gain maximize the chances of attaining the coveted seat in the desired institute:
1. It is necessary for the audience to spend quality time on writing and editing their essays, ensuring that each is specifically tailored for Chicago Business School.
2. Allocate proper time and ensure thorough dedication towards GMAT preparation. (Evidence of which is the fact that one recent entering class of the school boasted an average GMAT score of 709).
3. Accumulate sufficient work-experience before planning to enter the B-school. Chicago Business School’s entering students bring with them an average of 5 years of full-time work experience, and almost all of these students have at least some full-time experience. However, do not ignore the quality of the work-ex as both are judged equally well.
Petitions which satisfy these measures have higher chances of finding their place in the selected 900 students of Chicago’s admissions process. While these applications will have the greater chance of approval, though of course, many such strong applications will become casualties of the selectivity of Chicago’s admissions process.
Akin to its peers of elite B-schools, the University Of Chicago Business School charge hefty yearly tuition fees which increase every year. A breakup of the cost-structure would prove this fact:
Tuition for students in the school’s full-time MBA program – $44,500
Total cost of attendance including living expenses – $75,848
Further according to BusinessWeek, students of the school can expect a total program cost of nearly $300,000 when foregone salary is taken into consideration.
This of course works as an investment that students of Chicago Business School are happy to pay since they are more than likely to earn a greater real rate of return post their MBAs than the amount which is currently invested.
Academics and Curriculum:
The stringent selection process at The University of Chicago Business School makes it inevitable for the institute to compromise on its important node – its faculty (which comprises of more Nobel Prize winners) than any other business school via which it helps the students to impart knowledge and share their thought process and learning with some of the foremost minds in business academia.
To add to the quality of learning the institute has set up a wonderful technique which not only removes the cutthroat competition but also helps in creating a cooperative and collegial environment in classrooms. The institute calls it – the school’s grade nondisclosure policy. Further to help the students to shape their career in the desired path, the institute has established a bidding system in which each student receives a certain amount of points that he or she can spend in course selection.
This however, does not imply that the institute has a laid back attitude towards the demanding life which the students are likely to face outside the campus. The workload for Chicago Business School students is said to be rigorous throughout, and most students are likely to experience their most drilling academic years while working towards their MBA.
Quality of Life:
The undesirable surrounding environment of Hyde Park does not deter the University Of Chicago Business School to provide a quality life to its recent graduates and current students who are often pleased with the quality of life they get during their on campus tenure.
In order to ensure that the freedom of the students does not come in way of the safety of their lives, the University of Chicago has the third largest police force in the state of Illinois, providing the so called desirable level of safety.
The newly built Chicago Business School campus more than likely makes up for the shortcomings of Hyde Park. The campus has impressive architecture and technology which provides students with an extraordinary home base.
The newly built Chicago Business School campus likely makes up for the shortcomings of Hyde Park with its impressive architecture and technology, providing students with an extraordinary home base. Students live throughout Chicago’s neighborhoods, with an increasing number choosing downtown Chicago as their place of residence in recent years. Those who choose to live closer to the school won’t have much difficulty in traveling to the Windy City’s downtown to socialize and take advantage of the city’s countless nightlife establishments, as the city’s public transportation allows for quick and efficient commutes to and from Hyde Park.
Besides this, the school also does its part in providing social opportunities for students by hosting numerous social networking events throughout the year, thus ensuring that students will run out of free time before they run out of events to attend and things to do.
Employment Prospects:
As already mentioned, University of Chicago Business School’s has a well tuned rapport with major firms and companies worldwide who consider the Chicago students to be among the most polished and prepared business students. These firms and companies come to the campus to Hyde Park each year to recruit these students.
A testament to the effectiveness of the school’s efforts in placing graduates is the fact that a nearly-unmatched 87% of the graduates of a recent class at Chicago Business School landed jobs through school-facilitated activities. Overall, about 95% of Chicago graduates are typically employed within 3 months of graduation, approximately half of whom choose to enter the finance fields. For graduates of the most recent Chicago class for which statistics are available, the average first-year salary was $126,818 including bonuses.
However since 100% placement opportunities are not possible from the institutions, students have an option to approach a career services office which is widely commended by students and graduates. It is also well equipped with an impressive alumni network which is said to be loyal and responsive. Besides being an alternative source of recruitment, the office also works towards smooth transition of career options. Students looking to change careers will most likely be able to find all that they need for a smooth transition at the school’s career services office, which orchestrates specific programs for such students.
Thus, employment prospects for the University of Chicago Business School’s students are among the strongest in the nation.
In sum:
The University of Chicago Graduate School of Business which is regarded as one of the finest business schools around the world aims to provide a full fledged MBA program through which the selected students can look forward to learning and tremendously improved career prospects. The well qualified learning is imparted to the students via its qualified teachers (many of which Noble Prize Winners); a pleasing campus environment coupled with state-of-the-art architecture which is likely to improve day by day and well established rapport with the major firms and companies around the world. If this is not all, the institute has gone a step ahead to in providing their students a quality cultural and social site which is required for a student to avoid making him look like a geek in his or later years.
All the student has to do in return from his or her end is to secure for himself a minimum of 0-5 years of full time work-experience and a funding which can be brought about during the five years of work-experience and a sound financial planning and he or she is set to shape up his or her life in the desired direction.
Well, a student surely can afford to do this much for his or her self in order to shape his or career which will indirectly help shape life in a better way.
Contact Information:
5807 South Woodlawn
Chicago, IL 60637
773.702.7369
http://www.chicagogsb.edu
Quick Reference:
2009 U.S. News Ranking: 4th (tied with Sloan and Kellogg)
Average GMAT score: 709
Average undergraduate GPA: 3.5
Application fee: $200
Entering class size: 550 (full-time)
Yearly Tuition: $44,500 (2007-2008)
Percent of graduates employed 3 months after graduation: 95%
Average starting salary and bonus: $126,818