The University of Chicago’s Booth School of Business has been open since 1898. It is the second oldest business school in the world. Six faculty members from the university have won Nobel Prizes for their ideas. The college continually attempts to evaluate and analyze ideas and to find proof that new ideas work. It is known to be one of the best business schools in the world, and it ranks among the top schools in surveys of Master of Business Administration (MBA) programs. There are around 1,200 full-time students and about 1,600 evening and weekend MBA students. There are also around 600 Executive MBA students.
Many students choose to enter a full-time MBA program at the University of Chicago. When a student attends classes full-time, it takes 21 months to complete the program. Three to four classes are usually taken each quarter, with a total of 21 courses needed to graduate. Many full-time students choose to study abroad for a few weeks or up to one term. This can provide insights into how business is conducted around the world. Students are expected to have a bachelor’s degree and acceptable GMAT scores to be considered for admission to the program. There are no minimum scores designated since each student is considered individually.
The University of Chicago’s MBA program has a unique flexible curriculum that permits students to take the courses when they want to take them. Students also choose which courses will benefit them the most, based on their education, experience, and goals. Students receive guidance with their schedules to help them make the best choices. There are foundation courses that must be completed since they support the remainder of the curriculum. Students may choose from one of 14 concentrations to specialize in a certain aspect of business. Some of these are Accounting, Econometrics and Statistics, Analytic Management, Entrepreneurship, Finance, Human Resources Management, International Business, or Marketing Management. Although these concentrations are not mandatory, most students complete one to three areas that enhance their knowledge and help them reach their career goals once they graduate.
Students may also work towards joint degrees by entering a joint degree program. Some students choose to earn their degree in law, medicine, public policy, or social services administration in addition to their MBA. Another possible joint degree is an MBA plus international relations or a certificate in Health Administration and Policy. These and other options are open to all MBA students at the University of Chicago whether a student attends the program full-time, part-time or on weekends, or if they are in the executive option.
Part-time students usually attend the program for 2.5 to 3 years. They typically take around two courses each quarter for a total of 20 courses plus Effective Leadership. The average student in the part-time MBA program is about 29 years old and has around five years of work experience. Classes are scheduled either in the evening or on the weekends. Students may choose a weekend program of one weekend per month rather than attending classes one or two evenings each week of the month.
Another MBA option is the Executive MBA. This program is also a part-time program, but it differs somewhat from the regular part-time program. The Executive Program targets older workers who have experience in upper level management, whereas the regular part-time MBA prepares students to enter the types of jobs that the executives currently hold. Courses focus on higher-level management scenarios that top management deals with on a daily basis. This program lasts for 21 months and requires that two classes are taken each quarter. A total of 17 classes must be completed. Executive students also choose concentration areas, but these may be Finance, Strategy, Marketing, or Entrepreneurship. Three campuses of the University of Chicago host this program. They are located in Chicago, London, and Singapore. The entire cost of any of the MBA programs at the university is around $109,000 for the entire program. The tuition is the same for residents and nonresidents.