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New York University Stern School of Business

The New York University Leonard N. Stern School of Business (commonly known as The Stern School or Stern) is a business school in New York University. It is also a founding member of the Association to Advance Collegiate Schools of Business. Established as the School of Commerce, Accounts and Finance in 1900, the school changed its name in 1988 in honor of Leonard N. Stern, an alumnus and benefactor of the school. One of the most prestigious business schools in the world, it is also one of the oldest. The school is located on NYU's Greenwich Village campus next to the Courant Institute of Mathematical Sciences. Its alumni include some of the wealthiest in the world, as well as top business leaders and executives.

New York University Leonard N. Stern School of Business
NYU Stern School of Business Logo.png
Type Private business school
Established 1900
Parent institution
New York University
Dean Raghu Sundaram
Academic staff
346[1]
Undergraduates 2,629[1]
Postgraduates 3,379[1]
Location New York City, New York, U.S.
Campus Urban
Website www.stern.nyu.edu

Contents

HistoryEdit

The Stern School was founded by Charles Waldo Haskins (an alumnus of New York University Tandon School of Engineering) in 1900 as the 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.

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.[2] 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.[3]

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 $30 million gift from the School's alumnus Leonard N. Stern (B.S. 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 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 Langone MBA for Working Professionals was renamed 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.

Peter Blair Henry became dean of the school in January 2010.[4]

In 2010, the 84,500-square-foot (7,850 m2) renovation of the three Stern School of Business buildings, known as the Stern Concourse Project, was completed.[5] This project was fully funded by donors, alumni and corporate partners.[6]

NYU Stern Westchester offers its Langone MBA for Working Professionals in Purchase, New York, at SUNY Purchase.[7]

AcademicsEdit

Business school rankings
Worldwide overall
QS[8] 19
Worldwide MBA
Business Insider[9] 16
Economist[10] 19
Financial Times[11] 19
U.S. MBA
Bloomberg Businessweek[12] 17
Forbes[13] 18
U.S. News & World Report[14] 13
Vault[15] 9
U.S. undergraduate
U.S. News & World Report[16] 5

As of 2009, 2,305 students are enrolled in Stern's undergraduate program and 2,969 are enrolled in its Master of Business Administration (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, Sustainable Business, and a certificate program in Entertainment, Media and Technology. Stern also offers an Executive MBA program for experienced professionals and executives, a 22-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 27, and 45% of the students have at least one advanced degree in other areas.

 
NYU Stern School of Business

Students who attend the Stern School of Business are often called "Sternies."[citation needed] 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.[citation needed] 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).[citation needed] 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, Denmark, England, France, Hong Kong SAR, Italy, South Korea, Mexico, The Netherlands, Spain and Thailand.

RankingsEdit

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.

As of March 2018, Stern's undergraduate program is ranked:

As of March 2017, Stern's MBA program is ranked:

  • #12 in the U.S. by U.S. News and World Report[21]
  • #3 Finance Program by U.S. News and World Report[22]
  • #3 in business research contribution among 100 business schools worldwide by the School of Management at the University of Texas at Dallas[23]
  • #12 in the U.S. and 19th worldwide by Financial Times[24]
  • #18 in the U.S. and 22nd worldwide by the Aspen Institute[25]
  • #11 worldwide by The Economist[26]
  • #12 in North America by the 2010 QS Global 200 Business Schools Report

As of August 2017, Stern's Executive MBA program is ranked:

  • #4 in the U.S. by U.S. News and World Report[27]

Stern's Langone MBA for Working Professionals is ranked #3 by U.S. News and World Report.[28]

Stern Undergraduate ProgramEdit

The Stern Undergraduate Program is extremely selective. In 2016 the acceptance rate of Stern was 12[29]% filling 570 spots from an applicant pool of 11,596.[30] Stern boasts Finance and International Business programs that are both ranked #2 nationally on U.S. News.[31][32]

Social Impact Core
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Business Concentrations

All undergraduate students from Stern graduate with a bachelor's degree of Science in Business. Similar to the Wharton School, students choose to concentrate in specific fields of business study after their sophomore year. The two most popular concentrations are finance (with 76% of students pursuing this concentration) and accounting (with 26% of students pursuing this concentration). The thirteen concentrations offered by Stern are: Accounting, Actuarial Science, Business Economics, Computing and Data Science, Econometrics and Quantitative Economics, Entrepreneurship (co-concentration only), Finance, Global Business (co-concentration only), Management and Organizations, Marketing, Operations, Statistics, and Sustainable Business (co-concentration only).[30]

Business and Political Economy (BPE) Undergraduate Degree

In 2009, Stern launched its selective Business and Political Economy program (BPE). The program has 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 Asia's rapidly developing economies (currently Shanghai) or in Washington, D.C.[34] 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.

Stern Graduate ProgramEdit

Global Executive Programs

Stern offers three Global Executive Programs.

Stern Executive MBA program is a top ranked program for seasoned executives that is currently ranked 4th nationally by US News and World Reports.[35]

  • Executive MBA: New York City
  • Executive MBA: Washington, D.C.
  • TRIUM Global Executive MBA Program is a joint program with the London School of Economics and the HEC Paris. The TRIUM program ranked is ranked #3 in the world by the Financial Times 2012 review of EMBA programs.[36]

Premier Master's Degree Programs

Master's Programs For Early Career Professionals

  • Master of Science in Accounting is a 1-year, full-time program that prepares students to sit for the New York CPA.
  • Master of Science in Data Analytics & Business Computing Program is a joint program with New York University Shanghai.
  • Master of Science in Quantitative Finance Program is a joint program with New York University Shanghai.

Master's Programs For Experienced Professionals

  • Master of Science in Global Finance is a joint program with the Hong Kong University of Science and Technology.
  • Master of Science in Risk Management
  • Master of Science in Business Analytics

AdmissionsEdit

Admissions decisions are made on a holistic basis that considers academic record, standardized test scores, accomplishments outside of the classroom, recommendations, essays, and diversity.[37]

According to NYU Stern, 11,596 people applied for admission to the undergraduate program for the 2016-2017 academic year and 12% were admitted; the admissions yield was also at 42%.[38] In 2016-2017, the median combined verbal and math SAT score of incoming freshmen at the undergraduate level of Stern was 1470 and 54% of students had a high school GPA over 3.9.[38]

Over 76% of the Stern population are within the top 10% of their high school graduating class.[39] The internal and external transfer acceptance rate is about 12% and has remained steady through the years.[40]

The MBA program's admission rate is one of the lowest in the country at 15.7%. The admitted (full-time) MBA students' average Graduate Management Admission Test (GMAT) score was 720 with an undergraduate average GPA of 3.51.[41][42] The Stern School announced it will join the growing list of programs now accepting the Graduate Record Examinations (GRE) from MBA candidates applying beginning in 2010. Applicants will have the option to submit either GMAT or GRE scores with their application.[43]

Noted peopleEdit

Student lifeEdit

  • In 2005, Stern launched the Student Social Venture Fund,[44] the first student-run venture philanthropy fund of its kind at a U.S. business school.
  • In 2012, Professor James B. Rosenwald and his wife, Laura made a contribution to Stern for the Rosenwald Global Value Student Investment Fund. Every year, a tenth of the fund will be invested in one or more stocks based on recommendations made by the students in his Global Value Investing class.[45][46]

See alsoEdit

ReferencesEdit

  1. ^ a b c "NYU Stern | Key Facts - Programs, Faculty & Research, Global Focus, Alumni Network". Stern.nyu.edu. Retrieved 2014-03-05. 
  2. ^ Banks mergers Bulletin - 18 New York University.C.J. Devine Institute of Finance. 1962. The School awarded its first Doctor of Commercial Sciences degree in 1970. Business patterns after the two world wars Bulletin - 16 New York University.C.J. Devine Institute of Finance. 1961. International liquidity Bulletin - 27 New York University.C.J. Devine Institute of Finance. 1963 Statistical analysis of publicly offered foreign dollar bonds Bulletin - 10 New York University.C.J. Devine Institute of Finance. 1960. Statistical analysis of publicly offered foreign dollar bonds Bulletin - 10 New York University.C.J. Devine Institute of Finance. 1959. Statistical analysis of publicly offered foreign dollar bonds Bulletin - 15 New York University.C.J. Devine Institute of Finance. 1961. The capital market in Japan Bulletin - 19 New York University.C.J. Devine Institute of Finance. 1962 The commercial banks and economic growth Bulletin - 12 New York University.C.J. Devine Institute of Finance. 1960. The commercial banks in a changing world Bulletin - 26 New York University.C.J. Devine Institute of Finance. 1963. The economic position of Argentina Bulletin - 6 New York University.C.J. Devine Institute of Finance. 1959. The economic position of Norway Bulletin - 11 New York University.C.J. Devine Institute of Finance. 1960. The future of the dollar Bulletin - 21 New York University.C.J. Devine Institute of Finance. 1962. The japanese economy Bulletin - 9 New York University.C.J. Devine Institute of Finance. 1960. The key currencies Bulletin - 17 New York University.C.J. Devine Institute of Finance. 1961
  3. ^ Christopher J. Devine, 58, Dies; A Dealer in Government Bonds" The New York Times, May 11, 1963, Section Business & Finance, Page 25
  4. ^ Murray, Sarah (February 21, 2010). "The bigger picture". Financial Times. Retrieved December 4, 2012. 
  5. ^ "Light, transparency and brand connect Stern students, faculty and New York City". World Architecture News.com. February 24, 2010. Retrieved December 24, 2012. 
  6. ^ "Concourse Project". New York University. Retrieved December 24, 2012. 
  7. ^ "NYU Stern | Part-time MBA Westchester | Home". Stern.nyu.edu. Retrieved 2014-03-05. 
  8. ^ "QS World University Rankings by Subject 2017 - Business & Management Studies". Quacquarelli Symonds. 2017. Retrieved 2017-03-15. 
  9. ^ "The 50 best business schools in the world". Business Insider. 2015. Retrieved 2016-02-06. 
  10. ^ "Full time MBA ranking". Economist. 2016. Retrieved 2017-03-15. 
  11. ^ "Global MBA Ranking". Financial Times. 2017. Retrieved 2017-01-31. 
  12. ^ "Best Business Schools 2017". Bloomberg Businessweek. 2018-03-12. 
  13. ^ "The Best Business Schools". Forbes. 2017. Retrieved 2018-03-12. 
  14. ^ "2019 Best Business Schools Rankings". U.S. News & World Report. March 20, 2018. Retrieved March 24, 2018. 
  15. ^ "Best Business Schools". Vault.com. 2017. Retrieved 2018-03-12. 
  16. ^ "2017 Best Undergraduate Business Programs Rankings". U.S. News & World Report. 2016-09-12. 
  17. ^ "Best Colleges Specialty Rankings: Best Undergraduate Business Programs", U.S. News and World Report, retrieved May 2, 2018 
  18. ^ "Best Colleges Specialty Rankings: Best Undergraduate Finance Programs", U.S. News and World Report, retrieved May 2, 2018 
  19. ^ Shanghai Academic Ranking of World Universities http://www.shanghairanking.com/World-University-Rankings/New-York-University.html. Retrieved May 2, 2018.  Missing or empty |title= (help)
  20. ^ Levy, Francesca; from, Jonathan Rodkin. "These Are the Best Undergraduate Business Schools of 2016". Bloomberg.com. Retrieved 2017-02-02. 
  21. ^ "New York University (Stern) | Best Business School | US News". Grad-schools.usnews.rankingsandreviews.com. Archived from the original on 2017-03-14. Retrieved 2017-09-06. 
  22. ^ "New York University (Stern) | Best Finance Programs | US News". Grad-schools.usnews.rankingsandreviews.com. Retrieved 2014-03-05. 
  23. ^ "Worldwide Rankings - Naveen Jindal School of Management - The UTD Top 100 Business School Research Rankings". Jindal.utdallas.edu. Retrieved 2014-03-05. 
  24. ^ "Business school rankings from the Financial Times - New York University: Stern". Rankings.ft.com. Retrieved 2014-03-05. 
  25. ^ "Top 100 MBA Programs". Beyond Grey Pinstripes. Retrieved 2014-03-05. 
  26. ^ Stay informed today and every day. "New York University – Leonard N Stern School of Business | MBA Ranking". The Economist. Retrieved 2014-03-05. 
  27. ^ "Best Executive MBA Programs". https://www.usnews.com/best-graduate-schools/top-business-schools/executive-rankings. Archived from the original on 2017-03-14. Retrieved 2017-09-06.  External link in |website= (help)
  28. ^ "Best Part Time MBA Programs | Top Business Schools | US News Best Graduate Schools". Grad-schools.usnews.rankingsandreviews.com. Retrieved 2014-03-05. 
  29. ^ "NYU Stern | By The Numbers". www.stern.nyu.edu. Retrieved 2017-02-02. 
  30. ^ a b . NYU Stern http://www.stern.nyu.edu/programs-admissions/undergraduate/academics/business-program/areas-of-study.  Missing or empty |title= (help)
  31. ^ "U.S. News Undergraduate Business School Rankings - Finance". Retrieved 12 August 2012. 
  32. ^ "U.S. News Undergraduate Business School Rankings - International Business". Retrieved 12 August 2014. 
  33. ^ "Social Impact Core". NYU Stern. 
  34. ^ "Semesters Abroad". NYU Stern. 
  35. ^ https://www.usnews.com/best-graduate-schools/top-business-schools/executive-rankings
  36. ^ "Business school rankings from the Financial Times - EMBA Ranking 2012". Rankings.ft.com. Retrieved 2014-03-05. 
  37. ^ "Admissions", NYU Stern, retrieved August 6, 2013 
  38. ^ a b "By The Numbers - NYU Stern". www.stern.nyu.edu. Retrieved 2017-07-22. 
  39. ^ "Stern School of Business - Undergraduate College", BusinessWeek, retrieved August 6, 2013 
  40. ^ 2002 NYU Stern MBA Admissions Chat with Julia Min 
  41. ^ "Fall 2012 Class Profile", NYU Stern, retrieved August 6, 2013 
  42. ^ "MBA Admissions Chats: Consortium, NYU Stern", NYU Stern, archived from the original on September 17, 2010, retrieved August 13, 2010 
  43. ^ "Stern to Accept GRE for 2010 Admission", MBA Channel 
  44. ^ "NYU Stern | The Berkley Center for Entrepreneurship & Innovation: Creating Outstanding Entrepreneurial Leaders". Stern.nyu.edu. Retrieved 2014-03-05. 
  45. ^ "Graham and Dodd Head Downtown-Los Angeles hedge-fund manager Jamie Rosenwald has launched a value-investing class at New York University". Barrons.com. Retrieved 2013-11-08. 
  46. ^ "Perspective from a Global Value Investor" (PDF). NYUStern Evaluation. December 2013. 

External linksEdit