New York University Stern School of Business
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| NYU Stern School of Business | |
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| Established: | 1900 |
| Type: | Private |
| Faculty: | 266 |
| Undergraduates: | 2,271 |
| Postgraduates: | 3,129 |
| Location: | New York City, New York, USA |
| Dean: | Thomas F. Cooley |
| Website: | www.stern.nyu.edu |
The Leonard N. Stern School of Business is New York University's (NYU) business school. It was named after Leonard N. Stern, an alumnus and benefactor of the school. The school was established in 1900 as the NYU School of Commerce, Accounts and Finance. It is considered to be one of the top business schools in the United States. The school is located on NYU's Greenwich Village campus.
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[edit] About the School
The Stern School of Business is considered to be one of the top graduate business schools in the United States, and one of the top five undergraduate business schools in the country. This is exemplified by the fact that its core curriculum is relatively rigorous and unparalleled in size and scope.
As of 2004, 2,289 students are enrolled in Stern's undergraduate program and 2,467 are enrolled in its Master of Business Administration program. There are 206 full-time faculty and 59 adjunct professors. Stern offers a broad spectrum of academic programs at the graduate and undergraduate levels. The school is located on West 4th Street, occupying Shimkin and Tisch Halls and the Kaufman Management Center, on NYU's Washington Square campus. Possible majors include Marketing, Finance, Information Systems, Actuarial Science, Economic Policy, Economic Theory, Entertainment Media & Technology, Accounting (CPA and General) and others, as well as a host of co-majors such as International Business, Financial Systems, and a certificate program in Entertainment, Media and Technology. Stern also offers an Executive MBA program (EMBA) for more seasoned executives and classes are taken every other Friday and Saturday for a 21 month period, with classes beginning each August and January, and the program includes two global study tours. The average age of students in the EMBA program is 38 and almost half (45%) of current EMBA students have another advanced degree. Stern's EMBA general management program also provides the option for students to specialize in Finance or Leadership.
Students who attend the Stern School of Business are sometimes called "Sternies," a nickname used by both Stern students and those from other NYU schools. In the spring break of the undergraduate junior year, all Sternies travel abroad as part of the "International Study Project." During this time, students take part in projects emphasizing global business and a better understanding of another part of the world. Recent locations include: Sweden, Chile, Japan, South Korea, Germany, Mexico, and Hong Kong.
Stern also offers its own study abroad program IBEX (International Business Exchange Program). This program lasts one semester at some of the best business schools around the world. Currently Stern has multiple partner schools for this program in: Singapore, Australia, China, Hong Kong, Denmark, England, France, Italy, Korea, Mexico, The Netherlands, Spain and Thailand.
Stern's undergraduate program is ranked:
- #5 by U.S. News (Tied with University of North Carolina, Kenan-Flagler Business School).
- #7 by BusinessWeek.
Stern's MBA program is considered among the top 10 programs in the country.
- #10 among 113 MBA programs in the U.S. by U.S. News and World Report
- #8 among 100 MBA programs worldwide by Financial Times
- #13 among 30 MBA programs in the U.S. by BusinessWeek Magazine
- #8 among 100 MBA programs worldwide by The Economist, and 5th in the US.
- #3 in business research contribution among 100 business schools worldwide by the School of Management at the University of Texas, Dallas.
Stern's part-time M.B.A. program is ranked #1 by U.S. News. (College and university rankings).
Executive Programs: NYU Stern offers the TRIUM Global Executive MBA programjointly with the London School of Economics and the HEC School of Management, Paris.
The TRIUM Global Executive MBA Program ranked ranked #2 [1] in the world in the Financial Times 2007 review of EMBA programs.
Stern also boasts an impressive recruiting history, with exposure to all bulge-bracket investment banks, major hedge funds, consulting firms, and graduate schools.
[edit] History
The School was founded by Charles Waldo Haskins in 1900 as the NYU Undergraduate School of Commerce, Accounts and Finance on the University's Washington Square campus. In the same year, the first women matriculated, beginning a long tradition of inclusiveness. In 1913 Jeanette Hamill, J.D., M.A., joined the School's Economics department, becoming its first female faculty member. In 1936, women comprise 15 percent of the total enrollment. The graduate business program was launched in New York's downtown business district in 1916. The School's "Wall Street Division" served both full-time and currently employed students. The School awarded its first Doctor of Commercial Sciences degree in 1928.
By 1945 school's enrollment was well over 10,000 with graduates hailing from 36 countries and nearly all (then-) 48 states. In the 1960s, International business courses were introduced and became an important focus of the School's curricula. The School of Commerce, Accounts and Finance was renamed the College of Business and Public Administration in 1972. In the same year, Tisch Hall, designed by Philip Johnson and Richard Foster (see also: Bobst Library and Meyer Building) opened at 40 West Fourth Street to house the undergraduate college. In 1988, a landmark $30 million gift from alumnus Leonard N. Stern (BS, 1957; MBA, 1959) allowed the School to consolidate its graduate and undergraduate facilities at NYU's Washington Square campus. The School was renamed Leonard N. Stern School of Business. In 1992 Stern's new $68 million state-of-the-art facility, today known as "Kaufman Management Center" was inaugurated.
In 1998, a generous $10 million gift from Dr. Henry Kaufman (PhD 1958) supported a major expansion and upgrading of Stern's facilities. The new and renovated space is used almost exclusively to improve the quality of student life. Prominent investment banker and Home Depot founder Kenneth Langone (MBA 1960) donated $10 million to Stern in 1999. The part-time MBA program is renamed the Langone program in his honor. Celebrating its 100th birthday in the year 2000, NYU Stern launched a $100 million Centennial Campaign, the School's most ambitious fundraising effort to date. The campaign doubled Stern's endowment, the number of named professorships, and the level of student financial aid.
In 2005, Stern launched the Student Social Venture Fund Student Social Venture Fund, the first student-run venture philanthropy fund of its kind at a US business school.
[edit] Student life
Although many Sternies participate in All-Square (all university) clubs, Stern has its own Inter-Club Council that administers various geared specifically toward Stern students (though many of these are open to the entire University), as well as its own Student Council. Some of these clubs include: Delta Sigma Pi - Alpha Chapter, the Investment Analysis Group, the Stern Tisch Entertainment Business Association, Beta Alpha Psi,Alpha Kappa Psi, The Finance Society, and the Stern Business & Law society.Stern students do participate in NYU's MAP core, and close to half their courses are taken in the College of Arts and Science.
MBA Students also administer their own clubs, and have an even greater variety than the Undergraduate School, with clubs ranging from professional ethnic associations to specific career-oriented clubs such as the Private Equity Group, and even sports clubs like the popular Stern Soccer Club. The school also has its own governing student body, the Stern Student Corporation. Stern is known for the strength of its community, which can be described as down-to-earth, collaborative and supportive. The community comprises a diverse group of students and faculty that come from a variety of backgrounds, are driven and seek to achieve success yet not at the expense of a fellow student or faculty member.
All Stern undergraduate students are required to study one week overseas through the school's International Studies Program. Stern is the only undergraduate business college to incorporate and fund an overseas trip for all students as part of the business degree curriculum.
[edit] Admissions
Admission to Stern is highly selective. It is generally known that the admission rate at Stern is lower than almost every other NYU undergraduate school, with the notable exception of the Tisch School of the Arts. According to Business Week [2], 7,281 people applied for admission at the Undergraduate College for the 2006-2007 academic year and 21% were admitted. Of this 21%, 43% matriculated. The overall NYU admission and yield rate for '06-'07 was 29.6% and 36.3%, respectively. In 2007-2008 the average SAT Score of incoming freshmen at the Undergraduate level of Stern was 1438 (30% had more than 1500) and the average GPA was 3.77 [3].
The MBA school's admission rate is one of the lowest in the country at 18% for the most recent incoming class. The incoming (full-time) MBA Student's average Graduate Management Admission Test (GMAT) score was 700 with an average GPA of 3.4. [4]
Stern's biggest competitors for cross admits include the Wharton School of Business (University of Pennsylvania), the MIT Sloan School of Management, Kellogg School of Management (Northwestern University), Ross School of Business (University of Michigan), and Haas School of Business (University of California, Berkeley).
[edit] Alumni and Faculty
NYU Stern boasts a long list of notable alumni, see List of NYU Stern People See also List of New York University People
[edit] Notable Student Events
- Every year undergraduate junior students go on spring break to another country to study business practice as part of Stern's "Global Business Experience". The trip is completely subsidized by Stern. Locations for 2007-2008 included Buenos Aires, Argentina, Berlin, Germany and Hong Kong, China
- On April 6, 2006, Thomas Friedman of New York Times gave a lecture to Stern students and alumni on his perspective about globalization. The lecture can be viewed on MIT OpenCourseWare, where he presented the same material to MIT students in May 16 2005 (and it is free).
[edit] See also
[edit] External links
- Stern School of Business
- Delta Sigma Pi - Alpha Chapter
- Investment Analysis Group
- STERN Business
- STERN Opportunity
- The Finance Society
- Actuarial Society
- Student Social Venture Fund
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