Columbia Business School Explained

Columbia Business School
Image Upright:.7
Endowment:$869 million (2022)[1]
Academic Staff:136
Postgrad:1,433
Doctoral:100
Country:United States
Campus:Urban
Logo Upright:1.2

Columbia Business School (CBS) is the business school of Columbia University, a private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and is one of the oldest business schools in the world.

History

The school was founded in 1916 with 11 full-time faculty members and an inaugural class of 61 students, including 8 women. Banking executive Emerson McMillin provided initial funding in 1916, while A. Barton Hepburn, then president of Chase National Bank, provided funding for the school's endowment in 1919. The school expanded rapidly, enrolling 420 students by 1920, and in 1924 added a PhD program to the existing BS and MS degree programs.[2] [3]

In 1945, Columbia Business School authorized the awarding of the MBA degree. Shortly thereafter, in the 1950s, the school adopted the Hermes emblem as its symbol, reflecting the entrepreneurial nature of the Greek god Hermes and his association with business, commerce, and communication.[4]

In 1952, CBS admitted its last class of undergraduates. The school currently offers executive education programs that culminate in a Certificate in Business Excellence (CIBE) and full alumni status, and several degree programs for the MBA and PhD degrees. In addition to the full-time MBA, the school offers four Executive MBA programs: the NY-EMBA Friday/Saturday program, the EMBA-Global program (launched in 2001 in conjunction with the London Business School), the EMBA-Americas program launched in 2012,[5] and the EMBA-Global Asia program (launched in 2009 in conjunction with the London Business School and the University of Hong Kong Business School). Students in jointly run programs earn an MBA degree from each of the cooperating institutions.

In 2004, economist R. Glenn Hubbard became Columbia Business School's eleventh dean. He was succeeded in 2019 by Costis Maglaras.[6]

Campus

From 1961, Columbia Business School was primarily located housed in Uris Hall, at the center of Columbia's Morningside Heights campus.[7]

In October 2010, Columbia Business School announced that alumnus Henry Kravis, the billionaire co-founder of private-equity firm KKR, pledged $100 million to fund an expansion of Columbia Business School, the largest gift in its history. The donation went toward construction of the business school's new site on Columbia's Manhattanville campus.[8] In December 2012, Ronald Perelman also donated $100 million to the construction of the second business school building. In September 2021, David Geffen pledged $75 million to support the new campus' construction.[9] The buildings are designed by Diller Scofidio + Renfro, and are named Henry R. Kravis Hall and David Geffen Hall, respectively.[10] Columbia Business School officially moved to Manhattanville in January 2022.[11]

The cost of the new campus, which stands at $600 million, makes it the most expensive business school ever built.[12]

MBA program

The Columbia MBA Program is one of the most competitive in the world with an admission rate of 13.6% for the Class of 2021.[13] Students in the class that entered in 2009 come from 61 countries and speak more than 50 languages.[14]

The revised core curriculum, launched in the fall of 2008, represents about 40% of the degree requirement.[15] It consists of 2 full courses and 12 half-term courses including Corporate Finance, Financial Accounting, Managerial Statistics, Managerial Economics, Leadership, Operations Management, and Marketing Strategy.[16] While the first year of the program is usually devoted to completing the requirements of the core curriculum, the second year provides students with the opportunity to choose from the more than 130 elective courses available at the school and supplement them with more than 4,000 graduate-level classes from the university's other graduate and professional schools.[17] Among the most popular electives at Columbia Business School are the Economics of Strategic Behavior, Financial Statement Analysis and Earnings Quality, Launching New Ventures, Modern Political Economy, and the Seminar in Value Investing.[17]

Columbia Business School has a firm grade non-disclosure policy, which states that students may refrain from disclosing specific class grades, GPAs, or transcripts until they accept full-time, post graduation positions.[18]

Students enter Columbia's MBA program in two tracks. The traditional fall term is approximately 550 students, while the January term "J-Term" is approximately 200 students. Students entering in the fall are divided into eight clusters of approximately 65 students that take all first year core classes together. J-Term students are broken into three clusters. The J-Term is aimed at students who want an accelerated 18-month program who usually plan to return to their previous job, are company sponsored, and will not pursue a summer internship because they take classes during the summer.

The average starting base salary and bonus for Columbia MBAs in 2020 was $171,436, a sum that places it as the 6th highest among business schools.[13] According to Forbes magazine, 90% of billionaires with MBAs who derived their fortunes from finance obtained their master's degree from one of three schools: Harvard Business School, Columbia Business School, or The Wharton School at the University of Pennsylvania.[19]

Academic divisions

The school's faculty are divided into six academic units:[20]

MBA rankings

Qsglobal:7
Ft:3
Bwg:5
Forbes:7
Usnwrg:12
Qsusa:5

Recent national rankings of Columbia's MBA program include 7th by Forbes,[21] 5th by Bloomberg Businessweek,[22] and 6th by U.S. News & World Report.[23] In global rankings, Columbia was ranked No. 4 by The Economist in 2022[24] and No. 1 by the Financial Times in 2023.[25]

Dual-degree programs

Columbia Business School students can combine an MBA with one of ten other professional degrees. In general, a dual degree requires one less year than it would take to complete the two degrees separately. Candidates must apply separately to Columbia Business School and the other degree program.[26]

Dual degrees offered with the following schools include:

Student life

The Columbia Business School Follies is a student club that works throughout each semester to put together a production in which students write, choreograph, and perform comedy skits. It achieved notoriety in 2006[29] [30] [31] for "Every Breath Bernanke Takes", its video parody of the Police song "Every Breath You Take". It purports to be from Glenn Hubbard, Dean of the Business School, in response to Hubbard's being a runner-up to the Fed Chairmanship assumed by Ben Bernanke.

Executive MBA programs

Columbia offers various executive MBA programs.

The Executive MBA (EMBA) Friday/Saturday Program is a 20-month graduate program designed for individuals that are looking to enhance their education without interrupting their careers. The EMBA program is taught on campus at Columbia University by full-time faculty. The first year of classes consists of the same core curriculum as the Full-Time MBA program. Executive education is the focus of the second year. This Friday/Saturday program is targeted at individuals with approximately 10 years of work experience.[32]

The Executive MBA (EMBA) Saturday Program is a 24-month graduate degree program designed for individuals that are looking to enhance their education, but cannot take any time away from work. This program is the same as the Friday/Saturday program, with the exception that classes only meet on Saturdays over a longer period of time.

In addition to the New York-based EMBA Program, Columbia offers three partner programs to meet the differing needs and geographical distribution of prospective students.[33] Because students in the partner EMBA programs must satisfy the separate requirements of each school, they earn an MBA degree from each participating university. Likewise, they become alumni of each university and business school and may avail themselves of all programs and privileges afforded to alumni.

EMBA rankings

MS Programs

Columbia Business School offers three separate Master of Science degrees in Accounting and Fundamental Analysis, Financial Economics and Marketing. Admission to the programs is extremely competitive: in 2021, there were 837 applicants to the Financial Economics program and only 20 students were accepted.[40]

Doctoral program

The degree of Doctor of Philosophy (PhD) is offered by the Graduate School of Arts and Sciences and is administered by the Business School. Admission is highly competitive with 894 applicants in 2010 for positions in an entering class of 18 students (2%).[41] In 2021, the Finance division received over 500 applications and admitted 3 students (Acceptance rate of 0.6%) A PhD in Management or Business is a common precursor to an academic career in business schools.

Executive education

Columbia Business School Executive Education offers custom non-degree programs for organizations[42] and open-enrollment non-degree programs for individuals[43] in topics including management, finance, leadership, marketing, social enterprise, and strategy. The school also offers executive certification programs, including the Advanced Management Program,[44] the Certificate in Business Excellence[45] and the Senior Leaders Program for Nonprofit Professionals.[46]

CIBE

The Certificate in Business Excellence (CIBE) is awarded to students who complete a total of 18 program days of executive education within a four-year period.[47] Any executive education program at Columbia Business School can be applied toward the completion of the certificate.

Research centers, programs, and institutes

Research centers, special programs, institutes, and cross-disciplinary areas at Columbia Business School include:[48]

People

See also: List of Columbia University people.

Faculty

Columbia Business School employs 136 full-time faculty members,[49] including Joseph Stiglitz, the 2001 Nobel laureate in economics who also teaches at the university's School of International and Public Affairs; and Bernd Schmitt, the Robert D. Calkins Professor of International Business. The current Dean is the former Presidential Council of Economic Advisers Chairman Glenn Hubbard. Hedge fund gurus Joel Greenblatt and Ken Shubin Stein are currently adjunct professors. Bruce Greenwald teaches Value Investing and Economics of Strategic Behavior electives. Adam Dell, brother of Dell Inc. CEO Michael Dell, is a venture capitalist who teaches Business Innovation and Technology. Jonathan Knee teaches Media, Mergers, and Acquisitions and is the author of a book titled "The Accidental Investment Banker". Frederic Mishkin, member of the Board of Governors of the Federal Reserve System, returned to teach at CBS starting fall 2008.[50] Rita Gunther McGrath is a well known member of the strategy faculty and the author of four books on the subject, most recently The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast As Your Business (2013, Harvard Business Review Publishing) Steve Blank created the Lean Launchpad class that he teaches a scientific method for teaching entrepreneurship that combines experiential learning with the three building blocks of a successful Lean Startup.[51]

Alumni

Columbia Business School has over 44,000 living alumni. Some of the more notable alumni include the following:

External links

Notes and References

  1. Web site: Financials Columbia Business School Report to Investors. Columbia Business School. Columbia University in the City of New York. November 25, 2023.
  2. Web site: Columbia Business School Timeline | Columbia Business School . April 8, 2015 . dead . https://web.archive.org/web/20150502220219/http://www8.gsb.columbia.edu/about-us/history . May 2, 2015 .
  3. Web site: A History of the Graduate School of Business, Columbia University. Thurman William Van. Metre. July 21, 2018. Columbia University Press. Google Books.
  4. Web site: A New Visual Identity | Columbia Business School Alumni . June 10, 2011 . dead . https://web.archive.org/web/20111212203915/http://www7.gsb.columbia.edu/alumni/news/New-Visual-Identity . December 12, 2011 .
  5. Web site: Columbia Launches New EMBA-Americas Program . April 13, 2018 .
  6. School, Columbia Business. "Dr. Costis Maglaras Named 16th Dean Of Columbia Business School". www.prnewswire.com. Retrieved 2020-02-02.
  7. Web site: Columbia University Announces Business School Plan to Move in First Phase of Proposed Expansion in Manhattanville. December 30, 2007. Columbia University. https://web.archive.org/web/20080213143525/http://www.columbia.edu/cu/news/06/11/bschool.html. February 13, 2008. dead.
  8. News: KKR's Kravis pledges $100 mln to Columbia. Reuters. October 10, 2010. October 5, 2010.
  9. Web site: Tucker. Hank. Billionaire Music Mogul David Geffen Pledges $75 Million To Columbia Business School. 2022-02-03. Forbes. en.
  10. News: Russell. James S.. January 12, 2011. Columbia Business School Picks Diller Scofidio for New Campus. Bloomberg.
  11. 2022-01-18. Columbia Business School Opens at University's New Manhattanville Campus. 2022-01-18. Business Wire. en.
  12. Web site: Byrne. John A.. 2021-12-13. Columbia Business School Readies Its $600 Million New Campus For A Jan. 4th Debut. 2022-01-29. Poets&Quants. en-US.
  13. Web site: Byrne. John A.. 2021-03-30. Poets&Quants Stanford Tops New U.S. News MBA Ranking. 2021-04-03. Poets&Quants. en-US.
  14. Web site: Columbia Business School 2007 Employment Report. Columbia Business School. April 4, 2008. https://web.archive.org/web/20080910090133/http://www.columbia.edu/cu/business/career/employmentreport/2007/CBS_EmployReport2007.pdf. September 10, 2008. dead.
  15. Web site: Columbia Business School MBA Core Curriculum. Columbia Business School. April 4, 2008. https://web.archive.org/web/20080313173924/http://www4.gsb.columbia.edu/mba/academics/curriculum/corecurriculum. March 13, 2008. dead.
  16. Web site: Columbia Business School MBA Program Core Curriculum. Columbia Business School. April 4, 2008. https://web.archive.org/web/20080313173924/http://www4.gsb.columbia.edu/mba/academics/curriculum/corecurriculum. March 13, 2008. dead.
  17. Web site: Columbia Business School MBA Program Electives. Columbia Business School. April 4, 2008. https://web.archive.org/web/20080225164709/http://www4.gsb.columbia.edu/mba/academics/curriculum/electives. February 25, 2008. dead.
  18. Web site: Grade Non-Disclosure (GND) | Graduate Business Association . September 15, 2011 . https://wayback.archive-it.org/all/20111212165436/http://cbsgba.com/culture/grade-non-disclosure-gnd . December 12, 2011 . dead .
  19. Web site: Forbes: Billionaire Clusters. Forbes.
  20. Web site: Academic Divisions Faculty and Research. Columbia Business School. Columbia University. December 24, 2015.
  21. Web site: Best Business Schools . 2019. Forbes.
  22. Web site: 2021. U.S. - Best Business Schools & MBA Programs 2021-22. live. Bloomberg Businessweek. https://web.archive.org/web/20191105020844/https://www.bloomberg.com/business-schools/regions/us/ . November 5, 2019 .
  23. Web site: Best Business Schools. U.S. News & World Report. 2019.
  24. News: Full time MBA ranking. The Economist. 2019.
  25. Web site: MBA 2022 - Business school rankings from the Financial Times - FT.com . 2022-06-14 . rankings.ft.com.
  26. Web site: Dual Degrees Programs. Columbia Business School. Columbia University in the City of New York. November 3, 2016. https://web.archive.org/web/20161113133112/http://www8.gsb.columbia.edu/programs/mba/academics/dual-degrees. November 13, 2016. dead.
  27. Web site: Columbia Law and Business Schools to launch 3-year joint JD/MBA degree. . December 4, 2010.
  28. Web site: Columbia adds three-year J.D./MBA program. National Law Journal.
  29. News: The Best Economics Humor Ever. The New York Times. April 6, 2008. Steven D.. Levitt. May 2, 2006. https://web.archive.org/web/20080420215916/http://freakonomics.blogs.nytimes.com/2006/05/02/the-best-economics-humor-ever/. April 20, 2008. dead.
  30. Dean-a-Go-Go. https://web.archive.org/web/20060814030751/http://www.businessweek.com/bschools/content/may2006/bs20060510_7468.htm. dead. August 14, 2006. BusinessWeek. April 6, 2008.
  31. News: A Fed Wannabe Feels Students' Sting. The Washington Post. April 6, 2008 . Nell . Henderson . April 27, 2006.
  32. Web site: Columbia Business School EMBA Overview. Columbia Business School. April 4, 2008. https://web.archive.org/web/20080309011210/http://www4.gsb.columbia.edu/emba/overview/. March 9, 2008. dead.
  33. Web site: EMBA: Partner Programs. 2008. April 26, 2008. Columbia University. https://web.archive.org/web/20080506153953/http://www4.gsb.columbia.edu/emba/overview/partner. May 6, 2008. dead.
  34. Web site: FAQs . April 26, 2008 . . https://web.archive.org/web/20071218192454/http://www.london.edu/emba-global/faqs.html . December 18, 2007 . dead .
  35. Web site: Terms of Service Violation. https://web.archive.org/web/20071103024707/http://www.businessweek.com/bschools/rankings/index.html. dead. November 3, 2007. Bloomberg BusinessWeek.
  36. News: EMBA Rankings 2010. February 1, 2011. Financial Times. PDF.
  37. Executive MBA – Best Business Schools. May 2, 2009. U.S. News & World Report.
  38. Web site: The Top Executive MBA Programs. Bloomberg BusinessWeek. The McGraw-Hill Companies Inc.. December 30, 2007. https://web.archive.org/web/20091109031041/http://bwnt.businessweek.com/bschools/emba_rankings_2009/. November 9, 2009. dead.
  39. News: Leadership Ranks. February 1, 2011. The Wall Street Journal. September 29, 2010.
  40. Web site: Columbia Business School MS Financial Economics Candidate Profile. April 22, 2012. https://web.archive.org/web/20120428131920/http://www7.gsb.columbia.edu/ms/financialeconomics/admissions/profile. April 28, 2012. dead.
  41. Web site: Columbia Business School Doctoral Program Admissions Statistics. Columbia Business School. October 6, 2010. https://web.archive.org/web/20100923215508/http://www4.gsb.columbia.edu/phd/learnmore/statistics. September 23, 2010. dead.
  42. Web site: Programs for Organizations. Executive Education.
  43. Web site: Programs for Individuals. Executive Education.
  44. Web site: Advanced Management Program. Executive Education. June 10, 2015. https://web.archive.org/web/20150610182235/http://www8.gsb.columbia.edu/execed/program-pages/details/814/AMP. June 10, 2015. dead.
  45. Web site: Earn A Certificate. Executive Education. June 10, 2015. https://web.archive.org/web/20150610181105/http://www8.gsb.columbia.edu/execed/why-columbia/cibe. June 10, 2015. dead.
  46. Web site: Senior Leaders Program for Nonprofit Professionals. Executive Education. June 10, 2015. https://web.archive.org/web/20150610173827/http://www8.gsb.columbia.edu/execed/program-pages/details/118/SLP. June 10, 2015. dead.
  47. Web site: Columbia Business School. January 13, 2016. https://web.archive.org/web/20111003002944/http://www4.gsb.columbia.edu/execed/certificate/learn-more/. October 3, 2011. dead.
  48. Web site: Faculty & Research. Columbia Business School. November 26, 2010. https://web.archive.org/web/20101208011459/http://www4.gsb.columbia.edu/faculty-and-research. December 8, 2010. dead.
  49. Web site: Columbia Business School MBA Program: Faculty. Columbia Business School. April 6, 2008. https://web.archive.org/web/20080311014535/http://www4.gsb.columbia.edu/mba/academics/faculty. March 11, 2008. dead.
  50. News: Fed Governor Mishkin resigns effective August 31. Reuters. May 29, 2008 . May 28, 2008.
  51. Web site: lean-launchpad-courses-at-columbia-business-school. Columbia Business School. November 6, 2018. December 29, 2017. https://web.archive.org/web/20171229083839/https://www8.gsb.columbia.edu/courses/mba/2018/spring/b8521-001. dead.
  52. Web site: 2006 Employment Report. Columbia Business School. December 30, 2007. https://web.archive.org/web/20071128130037/http://www.columbia.edu/cu/business/career/employmentreport/2006/er2006.pdf. November 28, 2007. dead.
  53. Web site: Who is Roy Den Hollander? Suspect in deadly attack at judge's N.J. home posted racist, sexist views online. Noah Cohen | NJ Advance Media for. NJ.com. July 21, 2020. nj.
  54. https://www.college.columbia.edu/cct/sites/default/files/pdf/CCT_Winter_2017_2018_web.pdf "Class Notes,"

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