The University of Chicago Booth School of Business (BSB) is the second oldest business school in the United States. The BSB was previously called the Chicago Graduate School of Business. In 2008, the school was named after alumnus David Booth following a U.S.$300 million donation, the largest gift in the university’s history.
The BSB was launched in 1898 by Edmund James, a former director of the Wharton School. The school has consistently featured among the top business schools in the world in various rankings. In fact, The Economist’s Which MBA survey ranks BSB as the world’s best school for full-time MBA programme.
For more than a century, the Chicago BSB has been known as an innovator in business education and a creator of ideas which have revolutionized the business school education as well as business practices. The University of Chicago BSB can boast of many firsts: It is the first business school to have a Nobel Laureate on its faculty (George Stigler). It can also boast of having had George Stigler, Merton Miller, Ronald Coase, Gary Becker, Robert Fogel, and Myron Scholes, all Nobel Economics Laureates, on the faculty, another first for a B-School. Chicago BSB was the first to initiate the PhD programme in business in 1920, the first to award a business PhD to a woman, the first to offer an Executive MBA degree in 1943 and the first to establish a minority relations programme in 1964.
Chicago BSB is the first and probably the only top U.S. business school with permanent campuses in three continents: Asia, Europe, and North America. In North America, the main campuses are located in Chicago. The Hyde Park Centre, located seven miles from downtown Chicago, is the platform for the regular MBA and the Doctoral programmes. The platform for the Executive MBA, weekend MBA and non-degree Executive education programmes is the Gleacher Centre. The centre is located in downtown Chicago in proximity to the NBC Tower and the Wrigley Building and features stunning views of Chicago skyline and waterways. The European campus is in London and is located in the heart of the city’s financial district. The Asian campus is located in Singapore, with a new campus coming up in Hong Kong in 2014.
The school now has 1162 full time MBA students, 123 PhD students, 354 weekend MBA students, 1119 Evening students, and 539 Executive MBA students. The school has 205 faculty.
For MBA students, the school offers a very flexible curriculum. For graduation, the required courses are very few while the number of electives offered is huge. So, students are free to choose classes that suit their individual experiences, interests, and career goals.
Notable faculty at BSB include Eugene Fama, the co-winner of this year’s Nobel Prize in Economics (for empirical analysis of asset prices) and the originator of the efficient market theory; Steven Levitt, author of Freakonomics and winner of the prestigious John Clark Medal (given once every two years to the most outstanding American economist under the age of forty); Kevin Murphy, a recipient of John Clark Medal, and John Bates, behavioral economist, all serve on the faculty board of Chicago BSB.
The Chicago MBA students are recognized, respected and sought after by the world’s top business organisations. Students at Chicago BSB come from more than 43 countries and nearly every industry and background imaginable. The school has an annual intake of 575. Last year, the average salary offered was U.S.$113,217 per annum; the average GMAT score of the Class of 2013 was 722 while the average age and average work experience was 27 and five years. The programme tuition fee is around U.S.$112,000.
- John Meriwether (CEO and Principal of JWM Partners, former CEO of Long Term Capital Management)
- Peter G. Peterson, Chairman of The Blackstone Group; U.S. Secretary of Commerce, 1972-73
- Roger G. Ibbotson, founder of Ibbotson Associates
- Jon Corzine, former Governor of New Jersey & former CEO of Goldman Sachs
- Brady Dougan, CEO of CSFB
- Mark Loughridge, CFO of IBM
- Michael Larson, Investment Manager of Bill Gates
- Brady Dougan, CEO of Credit Suisse Group
- Frederik “Frits” Seegers, CEO of Global Retail and Commercial Banking at Barclays
- William E. Conway, Jr., Founding Partner and Managing Director of The Carlyle Group
- Luis Miranda, President and CEO of IDFC Private Equity, India’s largest infrastructure private equity firm
- David G. Booth, Co-founder and CEO of Dimensional Fund Advisors
- John Meriwether, Founder and CEO of JWM Partners; Founder of Long-Term Capital Management, one of the world’s most influential hedge funds
- Susan Wagner, co-founder and COO of BlackRock
- Charles M. Harper, former Chairman and CEO of ConAgra Foods, Inc.
- Mark Loughridge, CFO of IBM
- Tom Schoewe, CFO of Walmart
- John S. Watson, Chairman and CEO of Chevron Corporation
- Richard Teerlink, former Chairman and CEO of the Harley-Davidson Motor Company
- Satya Nadella, President, Server & Tools Division at Microsoft
- James O. McKinsey, Founder of McKinsey & Company
- Harold L. Sirkin, Senior Partner of The Boston Consulting Group (BCG) and adviser to U.S. President Barack Obama
- David Lawee, Head of Corporate Development at Google