Ivy League business schools
From Wikipedia, the free encyclopedia
Of the eight colleges that are part of the Ivy League in the United States, six of their parent universities have business schools.
| School name | Host institution | Programs offered | Year founded |
|---|---|---|---|
| Amos Tuck School of Business Administration | Dartmouth College | MBA | 1900 |
| Columbia Business School | Columbia University | MBA, PhD | 1916 |
| Harvard Business School | Harvard University | MBA, PhD | 1908 |
| S.C. Johnson Graduate School of Management | Cornell University | BS, MBA, PhD | 1946 |
| Wharton School | University of Pennsylvania | BS, MBA, PhD | 1881 |
| Yale School of Management | Yale University | MBA, PhD | 1976 |
Two Ivy League universities, Brown University and Princeton University, do not have business schools. Princeton is home to the Bendheim Center for Finance, which specializes in quantitative finance and offers an undergraduate finance certificate and the masters in finance degree. Brown offers a Business Economics track within its Commerce, Organizations and Entrepreneurship concentration.
All Ivy League business schools are located in the Northeast region of the United States and are privately owned and controlled. According to the Financial Times, as of 2006 they "continue to dominate the top echelons of the MBA market" globally.
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[edit] Use of the term "Ivy League"
While the term Ivy League comes from an athletic conference with eight schools as members, the term is also used to refer to those eight schools considered as a group. In a wider sense, it is used to refer to the social group once strongly associated with these schools. Thus, while there are strictly only eight Ivy League universities, the term is often used to denote US universities with characteristics of the Ivy League, such as strong academic standards. As such, the use of terms such as "Ivy League business schools" often denote more than just those schools literally in the Ivy League, but top business schools in general.
[edit] History
The creation of business schools at Ivy League universities occurred over a period of nearly a century, beginning with the Wharton School, founded in 1881 by Joseph Wharton, which was the first collegiate (undergraduate) business school in the world. Wharton's founding mission was to transform the study of business from a trade into a rigorous profession. Wharton created the first business school textbooks and subsequently became the first academic institution to develop administrative services in career management and academic advising.
In 1900, the Tuck School at Dartmouth was founded as the first graduate school of business. In 1921, Harvard Business School became the first business school to offer the MBA degree. During that same year, the Wharton School established the first business school research center, the Industrial Research Unit. Harvard Business School offered the first business school entrepreneurship course in the United States in 1947.
[edit] Ranking and reputation
Some publications' most recent rankings of full-time MBA programs at these schools are shown below. The first four rankings include only schools in the US. The last two are global.
| School name | US News [4] | BusinessWeek [5] | Wall Street Journal [6] | Forbes [7] | Financial Times [8] | Economist [9] |
|---|---|---|---|---|---|---|
| Amos Tuck School of Business Administration | #9 | #11 | #2 | #1 | #8 | #2 |
| Columbia Business School | #7 | #10 | #4 | #4 | #4 | #9 |
| Harvard Business School | #1 | #4 | #14 | #7 | #2 | #7 |
| S.C. Johnson Graduate School of Management | #16 | #13 | #16 | #9 | #36 | #17 |
| Wharton School | #3 | #2 | #7 | #2 | #1 | #17 |
| Yale School of Management | #15 | #19 | #9 | #5 | #11 | #18 |
According to US News, while all six schools are consistently ranked among the top 25 business schools in the United States, Harvard and Wharton are consistently ranked in the top five. In fact, the US News top 5 has been unchanged every year for the last 15 years, consisting of Harvard and Wharton, plus non-Ivy schools Stanford Graduate School of Business, the MIT Sloan School of Management and the Kellogg School of Management.
Each ranking emphasizes different criteria. US News emphasizes academic reputation, BusinessWeek student satisfaction, Wall Street Journal recruiter satisfaction, and Forbes return on investment. These four rankings are the major US national rankings. Financial Times and The Economist rank business schools worldwide.
