New York University Stern School of Business
Encyclopedia
The Leonard N. Stern School of Business (commonly known as The Stern School, NYU Stern, or simply Stern) is New York University
's business school
. It was established in 1900 as the NYU School of Commerce, Accounts and Finance. In 1988 it was named after Leonard N. Stern
, an alumnus and benefactor of the school. Stern is located on NYU's Greenwich Village
campus next to the Courant Institute of Mathematical Sciences
. A founding member of the Association to Advance Collegiate Schools of Business
, the Stern School is one of the oldest business schools in the world, and is constantly ranked within the top 10 in the US.
in 1900 as the NYU Undergraduate School of Commerce, Accounts and Finance on the University's Washington Square campus. In 1913 Jeanette Hamill, J.D., M.A., joined the School's Economics department, becoming its first female faculty member. In 1936, women comprised 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 1970.
By 1945, the school's enrollment was well over 10,000 with graduates hailing from 36 countries and 48 states. In the 1960s, International business courses were introduced and soon became an important focus of the School's curriculum. The New York University, C.J. Devine Institute of Finance (1959–1966), Graduate School of Business published many key Finance and Investment bulletins related to International finance. The NYU C.J. Devine Institute of Finance was named after benefactor Christopher J. Devine from 1959 to 1966. Devine was founder of C.J. Devine & Co. the largest dealer in U.S. Government Securities from 1933, until his death in May 1963.
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 generous $30 million gift from the School's alumnus Leonard N. Stern (BS, 1957; MBA, 1959) allowed 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 $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 investor Kenneth Langone
(MBA 1960) donated $10 million to Stern in 1999. The part-time MBA program was renamed the Langone Program in his honor. Celebrating its 100th birthday in the year 2000, 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.
Recently Peter Blair Henry
was named the next Dean of the Stern School of Business.
In 2010, the 84500 square feet (7,850.3 m²) renovation of the three Stern School of Business buildings, known as the Stern Concourse Project http://w4.stern.nyu.edu/concourse/index.html, was completed. This project was fully funded by donors, alumni and corporate partners http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=13465
(MBA) program. There are 202 full-time faculty and 74 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. Stern offers academic majors in Marketing
, Finance
, Information Systems
, Actuarial Science
, Economic Policy, Economic Theory, Entertainment Media & Technology, Accounting (CPA and General) and others, as well as co-majors in International Business, Financial Systems, and a certificate program in Entertainment, Media and Technology. Stern also offers an Executive MBA program for experienced professionals and executives, a 21 month long degree program which includes two global study tours as a part of the curriculum. The average age of executive MBA degree candidates is 38, and 45% of the students have at least one advanced degree in other areas.
Students who attend the Stern School of Business are often called "Sternies," a nickname used by students in the NYU community. In the spring break of the undergraduate junior year, all Sternies are invited to travel abroad as part of a core curriculum class, "International Study Program," which engages students to visit a non-U.S. company. Cultural learning experience is an integral part of the program as well. Recent destinations include: Singapore
, Sweden
, Hungary
, Argentina
, 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 many of the top business schools around the world. Stern currently has multiple partner schools for this program in: Singapore
, Australia
, China
, Hong Kong
, Denmark
, England
, France
, Italy
, South Korea
, Mexico
, The Netherlands, Spain
and Thailand
.
Rankings:
Both the undergraduate and graduate programs are consistently ranked among the top schools in the U.S. and worldwide by leading business and education publications.
, Stern's undergraduate program is ranked:
Stern's MBA program is ranked:
Stern's part-time MBA program is ranked #4 by U.S. News and World Report.
Global Executive Programs:
Stern offers three Global Executive Programs.
Business and Political Economy (BPE) Undergraduate Degree:
In 2009, Stern launched the highly selective Business and Political Economy program (BPE). The BPE program is reserved for Stern's best and brightest, with a ~6% matriculation rate. More than 850 students applied to the BPE program for the Class of 2015, and approximately 100 were accepted to yield an ultimate class size of ~50 students. Yield rates are >75%, although Stern does not yet publish official statistics for the BPE program. BPE students study the same business core curriculum as traditional Stern undergrads, however, they have additional specialized tracks including cores in Liberal Arts, Politics, Social Impact and Economics.
Students attend their first year at Stern in New York City, their second year at NYU London, and first semester junior year at one of one of Asia's rapidly developing economies (currently Shanghai). BPE students return to Stern NYU for the remaining year and a half. The Program's Director describes the BPE degree as "Stern and then some". Students graduate with a B.S. in Business & Political Economy with the inaugural class of 2013.
Deflating "Stern Curve":
Stern is widely known for its deflating "Stern Curve" applied to all core courses and to some advanced electives. The Stern curve is mandatory for the undergraduate and MBA graduate courses. The curve is enforced by maintaining strong "grading guidelines". Among Stern students and non-Stern students taking Stern courses, about 25% in each class will receive A's, about 40% will receive B's, and the remainder of students will receive C's or lower. The grading system is designed to encourage the risk-taking experience necessary in the business world.
Over 93% of the Stern population are within the top 10% of their high school graduating class. The internal and external transfer acceptance rate is about 12% and has remained steady through the years. All Stern admissions decisions are holistic in nature.
The MBA program's admission rate is one of the lowest in the country at 13%. The admitted (full-time) MBA students' average Graduate Management Admission Test
(GMAT) score was 718 with an undergraduate average GPA of 3.5. Stern School of Business announced it will join the growing list of programs now accepting the Graduate Record Exam (GRE) test scores from MBA candidates applying in 2010. Applicants will have the option to submit either GMAT or GRE scores with their application.
Stern's biggest competitors for cross admits include: Columbia Business School
, MIT Sloan School of Management
, Wharton School of Business at University of Pennsylvania
, Kellogg School of Management
at Northwestern University
, Booth School of Business
at University of Chicago
, and Haas School of Business
at University of California, Berkeley
.
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. One of the more popular clubs at NYU Stern is the NYU Entrepreneurs Club ("NYU EEX"), which hosts annual conferences featuring keynote speakers such as best-selling business author Seth Godin and Vault.com Founder Sam Hamadeh at the 2011 Conference. http://nyustern.campusgroups.com/eex/web_page?url_name=resources&club_url2=eex
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. Gulamhusein Club; has now become very popular with rising admissions by the day. Now holding an average of 25 people over the course of a two tern period.
Notable Student Events and Programs:
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
's business school
Business school
A business school is a university-level institution that confers degrees in Business Administration. It teaches topics such as accounting, administration, economics, entrepreneurship, finance, information systems, marketing, organizational behavior, public relations, strategy, human resource...
. It was established in 1900 as the NYU School of Commerce, Accounts and Finance. In 1988 it was named after Leonard N. Stern
Leonard N. Stern
Leonard Norman Stern is an American businessman and real estate developer.He is the Chairman and CEO of the privately owned Hartz Group based in New York City...
, an alumnus and benefactor of the school. Stern is located on NYU's Greenwich Village
Greenwich Village
Greenwich Village, , , , .in New York often simply called "the Village", is a largely residential neighborhood on the west side of Lower Manhattan in New York City. A large majority of the district is home to upper middle class families...
campus next to the Courant Institute of Mathematical Sciences
Courant Institute of Mathematical Sciences
The Courant Institute of Mathematical Sciences is an independent division of New York University under the Faculty of Arts & Science that serves as a center for research and advanced training in computer science and mathematics...
. A founding member of the Association to Advance Collegiate Schools of Business
Association to Advance Collegiate Schools of Business
The Association to Advance Collegiate Schools of Business was founded in 1916 to accredit schools of business worldwide. The first accreditations took place in 1919. The stated mission is to advance quality management education worldwide through accreditation and thought leadership. It is regarded...
, the Stern School is one of the oldest business schools in the world, and is constantly ranked within the top 10 in the US.
History
The Stern School was founded by Charles Waldo HaskinsCharles Waldo Haskins
Charles Waldo Haskins was a co-founder of the accounting firm Haskins and Sells."He was born in 1852 into a leading American family ."...
in 1900 as the NYU Undergraduate School of Commerce, Accounts and Finance on the University's Washington Square campus. In 1913 Jeanette Hamill, J.D., M.A., joined the School's Economics department, becoming its first female faculty member. In 1936, women comprised 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 1970.
By 1945, the school's enrollment was well over 10,000 with graduates hailing from 36 countries and 48 states. In the 1960s, International business courses were introduced and soon became an important focus of the School's curriculum. The New York University, C.J. Devine Institute of Finance (1959–1966), Graduate School of Business published many key Finance and Investment bulletins related to International finance. The NYU C.J. Devine Institute of Finance was named after benefactor Christopher J. Devine from 1959 to 1966. Devine was founder of C.J. Devine & Co. the largest dealer in U.S. Government Securities from 1933, until his death in May 1963.
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
Philip Johnson
Philip Cortelyou Johnson was an influential American architect.In 1930, he founded the Department of Architecture and Design at the Museum of Modern Art in New York City, and later , as a trustee, he was awarded an American Institute of Architects Gold Medal and the first Pritzker Architecture...
and Richard Foster
Richard Foster (architect)
Richard T. Foster was a modernist architect who worked in the New York area, and also around Greenwich, Connecticut, often in partnership with Philip Johnson, including the Glass House located in New Canaan, Connecticut. He was educated at the Pratt Institute....
(see also: Bobst Library and Meyer Building) opened at 40 West Fourth Street to house the undergraduate college. In 1988, a generous $30 million gift from the School's alumnus Leonard N. Stern (BS, 1957; MBA, 1959) allowed 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 $10 million gift from Dr. Henry Kaufman
Henry Kaufman
Henry Kaufman is a Jewish American economist and financial consultant.Born in a small village named Wenings in Germany as son of a butscher...
(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 investor Kenneth Langone
Kenneth Langone
Kenneth Langone, is a venture capitalist, investment banker and financial backer of The Home Depot, and a former director of the New York Stock Exchange. He was elected as director of Yum! Brands effective October 7, 1997, and is a member of the Audit Committee. Langone is also a trustee of New...
(MBA 1960) donated $10 million to Stern in 1999. The part-time MBA program was renamed the Langone Program in his honor. Celebrating its 100th birthday in the year 2000, 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.
Recently Peter Blair Henry
Peter Blair Henry
Peter Blair Henry, a Jamaican American economist, is Dean of New York University’s Leonard N. Stern School of Business. Previously, he was the Konosuke Matsushita Professor of International Economics at Stanford University....
was named the next Dean of the Stern School of Business.
In 2010, the 84500 square feet (7,850.3 m²) renovation of the three Stern School of Business buildings, known as the Stern Concourse Project http://w4.stern.nyu.edu/concourse/index.html, was completed. This project was fully funded by donors, alumni and corporate partners http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=13465
Academics
As of 2009, 2,305 students are enrolled in Stern's undergraduate program and 2,969 are enrolled in its Master of Business AdministrationMaster of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
(MBA) program. There are 202 full-time faculty and 74 adjunct professors. Stern offers a broad spectrum of academic programs at the graduate
Graduate school
A graduate school is a school that awards advanced academic degrees with the general requirement that students must have earned a previous undergraduate degree...
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
Washington Square Park
Washington Square Park is one of the best-known of New York City's 1,900 public parks. At 9.75 acres , it is a landmark in the Manhattan neighborhood of Greenwich Village, as well as a meeting place and center for cultural activity...
campus. Stern offers academic majors in Marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
, Finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, Information Systems
Information systems
Information Systems is an academic/professional discipline bridging the business field and the well-defined computer science field that is evolving toward a new scientific area of study...
, Actuarial Science
Actuarial science
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Actuaries are professionals who are qualified in this field through education and experience...
, Economic Policy, Economic Theory, Entertainment Media & Technology, Accounting (CPA and General) and others, as well as co-majors in International Business, Financial Systems, and a certificate program in Entertainment, Media and Technology. Stern also offers an Executive MBA program for experienced professionals and executives, a 21 month long degree program which includes two global study tours as a part of the curriculum. The average age of executive MBA degree candidates is 38, and 45% of the students have at least one advanced degree in other areas.
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Chile
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, and Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
.
Stern also offers its own study abroad program IBEX (International Business Exchange Program). This program lasts one semester at many of the top business schools around the world. Stern currently has multiple partner schools for this program in: Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, The Netherlands, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
and Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
.
Rankings:
Both the undergraduate and graduate programs are consistently ranked among the top schools in the U.S. and worldwide by leading business and education publications.
, Stern's undergraduate program is ranked:
- #5 by U.S. News and World Report
- #15 by BusinessWeekBusinessWeekBloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
Stern's MBA program is ranked:
- #3 in business research contribution among 100 business schools worldwide by the School of Management at the University of Texas at DallasUniversity of Texas at DallasThe University of Texas at Dallas, also referred to as UT Dallas or UTD, is a public research university in the University of Texas System. The main campus is in the heart of the Richardson, Texas, Telecom Corridor, north of downtown Dallas...
- #6 in the U.S. and 15th worldwide by Financial TimesFinancial TimesThe Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
- #6 in the U.S. and 8th worldwide by the Aspen Institute
- #9 in the U.S. and 12th worldwide by The EconomistThe EconomistThe Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
- #10 in the U.S. by U.S. News and World Report
- #12 in North America by the 2010 QS Global 200 Business Schools ReportQS Global 200 Business Schools ReportThe QS Global 200 Business Schools Report identifies the most popular business schools in each region of the world. It aims to serve employers seeking MBAs at a regional level. It originated in the early 1990s under the partnership Quacquarelli Symonds. The TopMBA Career Guide was made in 1990, and...
- #17 in the U.S. by the Wall Street Journal
- #18 in the U.S. by Business Week Magazine
Stern's part-time MBA program is ranked #4 by U.S. News and World Report.
Global Executive Programs:
Stern offers three Global Executive Programs.
- TRIUM Global Executive MBA Program is a joint program with the London School of EconomicsLondon School of EconomicsThe London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
and the HEC Paris. The TRIUM program ranked is ranked #2 in the world by the Financial Times 2009 review of EMBA programs. - Master of Science in Global Finance is a joint program with the Hong Kong University of Science and TechnologyHong Kong University of Science and TechnologyThe Hong Kong University of Science and Technology is a public university located in Hong Kong. Established in 1991 under Hong Kong Law Chapter 1141 , it is one of the nine universities in Hong Kong.Professor Tony F. Chan is the president of HKUST...
. - Executive Master of Science in Risk Management is a joint program with the Amsterdam Institute of FinanceAmsterdam Institute of FinanceThe Amsterdam Institute of Finance, or AIF, is a financial training and education institute in the Netherlands with a focus on global programs. The AIF, which operates as a non-profit foundation, was founded in 1990 as a joint venture between government officials and the Dutch financial...
.
Business and Political Economy (BPE) Undergraduate Degree:
In 2009, Stern launched the highly selective Business and Political Economy program (BPE). The BPE program is reserved for Stern's best and brightest, with a ~6% matriculation rate. More than 850 students applied to the BPE program for the Class of 2015, and approximately 100 were accepted to yield an ultimate class size of ~50 students. Yield rates are >75%, although Stern does not yet publish official statistics for the BPE program. BPE students study the same business core curriculum as traditional Stern undergrads, however, they have additional specialized tracks including cores in Liberal Arts, Politics, Social Impact and Economics.
Students attend their first year at Stern in New York City, their second year at NYU London, and first semester junior year at one of one of Asia's rapidly developing economies (currently Shanghai). BPE students return to Stern NYU for the remaining year and a half. The Program's Director describes the BPE degree as "Stern and then some". Students graduate with a B.S. in Business & Political Economy with the inaugural class of 2013.
Deflating "Stern Curve":
Stern is widely known for its deflating "Stern Curve" applied to all core courses and to some advanced electives. The Stern curve is mandatory for the undergraduate and MBA graduate courses. The curve is enforced by maintaining strong "grading guidelines". Among Stern students and non-Stern students taking Stern courses, about 25% in each class will receive A's, about 40% will receive B's, and the remainder of students will receive C's or lower. The grading system is designed to encourage the risk-taking experience necessary in the business world.
Admissions
Admission to Stern is highly selective. According to BusinessWeek, 7,281 people applied for admission to the undergraduate program for the 2006-2007 academic year and 23% were admitted. In 2007-2008 the average combined verbal and math SAT score of incoming freshmen at the undergraduate level of Stern was 1441 (30% scored greater than 1500) and the secondary school average GPA was a 3.75 out of a 4.0 weighted scale. The Stern admissions committee does not consider writing scores. Requirements for TOFEL however one has to be a British or American national; others are compulsory.Over 93% of the Stern population are within the top 10% of their high school graduating class. The internal and external transfer acceptance rate is about 12% and has remained steady through the years. All Stern admissions decisions are holistic in nature.
The MBA program's admission rate is one of the lowest in the country at 13%. The admitted (full-time) MBA students' average Graduate Management Admission Test
Graduate Management Admission Test
The Graduate Management Admission Test is a computer-adaptive standardized test in mathematics and the English language for measuring aptitude to succeed academically in graduate business studies. Business schools use the test as a criterion for admission into graduate business administration...
(GMAT) score was 718 with an undergraduate average GPA of 3.5. Stern School of Business announced it will join the growing list of programs now accepting the Graduate Record Exam (GRE) test scores from MBA candidates applying in 2010. Applicants will have the option to submit either GMAT or GRE scores with their application.
Stern's biggest competitors for cross admits include: Columbia Business School
Columbia Business School
Columbia Business School is the business school of Columbia University in Manhattan, New York City. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students...
, MIT Sloan School of Management
MIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
, Wharton School of Business at University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
, Kellogg School of Management
Kellogg School of Management
The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, as well as partnering programs with schools in China, India, Hong Kong, Israel,...
at Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
, Booth School of Business
Booth School of Business
The University of Chicago Booth School of Business is a graduate business school located in Chicago, Illinois, at the University of Chicago. Formerly known as the University of Chicago Graduate School of Business, Chicago Booth is the second oldest business school in the U.S., the first such school...
at University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
, and Haas School of Business
Haas School of Business
The Walter A. Haas School of Business, also known as the Haas School of Business or simply Haas, is one of 14 schools and colleges at the University of California, Berkeley....
at University of California, Berkeley
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
.
Student life
Although many "Sternies" participate in All-Square (all university) clubs, Stern has its own Inter-Club Council that administers various clubs 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: the International Business Association, the Investment Analysis Group, The Marketing Society, the Stern Tisch Entertainment Business Association, Beta Alpha Psi, The Finance Society, the Entrepreneurial Exchange Group http://pages.stern.nyu.edu/~eeg/, Pride Corp, the Economic Honors Society, and the Stern Business & Law society. There is also an independent student-run comic strip called Stern Ink. that satirizes life at business school. Stern students do participate in NYU's MAP core, and close to half their courses are taken in the College of Arts and Science, depending on prior credits achieved, such as certain scores on Advanced Placement ("AP") exams..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. One of the more popular clubs at NYU Stern is the NYU Entrepreneurs Club ("NYU EEX"), which hosts annual conferences featuring keynote speakers such as best-selling business author Seth Godin and Vault.com Founder Sam Hamadeh at the 2011 Conference. http://nyustern.campusgroups.com/eex/web_page?url_name=resources&club_url2=eex
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. Gulamhusein Club; has now become very popular with rising admissions by the day. Now holding an average of 25 people over the course of a two tern period.
Notable Student Events and Programs:
- Every year, as part of Stern's International Studies Program—funded by alum Edward Barr and his wife Nancy—undergraduate junior students take a set of two courses about international economics and business practices. Students choose the second course in the series based on their preferences for which country (chosen from a field of three in South America, Europe, and Asia) they would like to study. During Spring BreakSpring breakSpring break – also known as March break, Study week or Reading week in the United Kingdom and some parts of Canada – is a recess in early spring at universities and schools in the United States, Canada, mainland China, Korea, Japan, Taiwan, Mexico, the Dominican Republic, the United...
, the entire junior class and many faculty members travel these countries to experience the culture and visit a company based there. Locations for Spring 2007 trip included Santiago, ChileSantiago, ChileSantiago , also known as Santiago de Chile, is the capital and largest city of Chile, and the center of its largest conurbation . It is located in the country's central valley, at an elevation of above mean sea level...
, Berlin, Germany, and Seoul, South Korea. Locations for Spring 2008 trip included Buenos Aires, Argentina, Berlin, Germany, and Hong Kong, China. Locations for Spring 2009 trip included Buenos Aires, Argentina, Berlin, Germany, and Hong Kong, China. Locations for Spring 2009 trip included Buenos Aires, Argentina, Berlin, Germany, and Singapore, Singapore. Locations for Spring 2010 trip included Buenos Aires, Argentina, Budapest, Hungary, and Singapore, Singapore. For the Spring 2011 trip, Budapest has been replaced with Barcelona, Spain. Prior locations include Santiago, ChileSantiago, ChileSantiago , also known as Santiago de Chile, is the capital and largest city of Chile, and the center of its largest conurbation . It is located in the country's central valley, at an elevation of above mean sea level...
, Tokyo, Japan, and Seoul, South Korea, and Budapest, Hungary. Companies studied include HyundaiHyundaiHyundai ) is a global conglomerate company, part of the Korean chaebol, that was founded in South Korea by one of the most famous businessmen in Korean history: Chung Ju-yung...
, Maersk, Deutsche BahnDeutsche BahnDeutsche Bahn AG is the German national railway company, a private joint stock company . Headquartered in Berlin, it came into existence in 1994 as the successor to the former state railways of Germany, the Deutsche Bundesbahn of West Germany and the Deutsche Reichsbahn of East Germany...
, Hutchison Port HoldingsHutchison WhampoaHutchison Whampoa Limited or HWL of Hong Kong is a Fortune 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL is an international corporation with a diverse array of holdings which includes the world's biggest port and telecommunication operations in 14...
, Cathay PacificCathay PacificCathay Pacific is the flag carrier of Hong Kong, with its head office and main hub located at Hong Kong International Airport, although the airline's registered office is on the 33rd floor of One Pacific Place...
, LAN AirlinesLAN AirlinesLAN Airlines S.A. is an airline based in Santiago, Chile. LAN is currently positioned amongst the largest airlines in Latin America, serving Latin America, United States, the Caribbean, Oceania, and Europe. It is a member of the Oneworld airline alliance...
, the Hong Kong Stock ExchangeHong Kong Stock ExchangeThe Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
, Doosan, Arcor, and the Dainippon Chemical CompanyDainippon Ink & Chemicals, established in 1876, is a Japanese printing company.It is involved in a wide variety of printing processes, ranging from magazines through to shadow masks for the production of displays, as well as outcoupling enhancement structures for LCD displays and scattering for display backlights. The...
. In addition to visiting these companies, students have the opportunity to engage in various cultural activities and have many opportunities to experience the nightlife in their chosen city.
- 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 U.S. business school.
See also
- List of United States business school rankings
- List of business schools in the United States
External links
- Stern School of Business - official website
- Stern Global ProgramsStern Global ProgramsNYU Stern Global Programs offer three advanced degree programs in partnership with international schools.-TRIUM Global EMBA:TRIUM Global EMBA program is an alliance between New York University Stern School of Business, London Business School , and HEC School of Management, Paris...
- Stern MBA Admissions