Columbia Business School Totally Explained

Everything about Columbia Business School totally explained

1916 Private R. Glenn Hubbard New York, New York, USA 1,196 MBA studentswww.gsb.columbia.edu

www.gsb.columbia.edu/publicoffering

Columbia Business School

Columbia Business School (also known as CBS) is the business school of Columbia University in New York, New York. It was established in 1916 to provide business training and professional preparation for undergraduate and graduate Columbia University students. Its admission process is among the most selective of top business schools and it's one of six Ivy League business schools.
Columbia Business School is known for its close ties to Wall Street and the seminal work completed in the field of Finance by professors Benjamin Graham and David Dodd. It is affiliated with 13 winners of the Nobel Prize in Economics including current professors Robert Mundell, Joseph Stiglitz and Edmund Phelps The School has an international emphasis, and many alumni have achieved distinction in the public as well as the private sector.
The acceptance rate into Columbia's MBA program was 16% in 2007, the second lowest for all MBA programs (according to US News and World Report in its annual ranking statistics). Columbia's average GMAT score of 709 and total full-time enrollment of 1,196 are third highest among U.S. business schools. Thirty-three percent of the class entering in 2007 are women and 23% are members of a minority group.

History

Alonzo Barton Hepburn, then president of Chase Manhattan Bank, founded the School in 1916 with 11 full-time faculty members and an opening class of 61 students, including 8 women. The School expanded rapidly, enrolling 420 students by 1920 and in 1924, added a PhD program to the existing BS and MS degree programs.
   In 1945, Columbia Business School authorized the awarding of the Master of Business Administration degree (MBA). Shortly thereafter, 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.
   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 three Executive MBA programs: the NY-EMBA Friday/Saturday program, the EMBA-Global program (launched in 2001 in conjunction with the London Business School), and the Berkeley-Columbia Executive MBA program (launched in 2002 in conjunction with the Haas School of Business at University of California, Berkeley). Students in the latter two programs earn two MBA degrees, one from each of the cooperating institutions.
   On July 1, 2004, R. Glenn Hubbard became Columbia Business School's eleventh dean. Hubbard, the former chair of President Bush's Council of Economic Advisers, has worked at the intersection of the private, government and nonprofit sectors and has been actively engaged in national and international economic policy issues.

Facilities

Today, Columbia Business School is primarily housed in Uris Hall, a renovated 1960s structure at the center of Columbia's Morningside Heights campus. An auxiliary space, Warren Hall, is situated on Amsterdam Avenue and is shared with the law school. In 2006, rumors that the business school would be moved to a new, more spacious facility at Columbia's planned new campus on 125th Street in Manhattanville were confirmed.

MBA Program

The Columbia MBA Program

is designed to prepare its students for the challenges that'll face as emerging leaders in a rapidly changing business world. The admission process is highly competitive with an admission rate of 16% in 2007. The student body is highly accomplished and diverse. Students in the class that entered in 2007 come from more than 50 countries and speak more than 40 languages. Thirty-three percent of the class are women and 23% are members of a minority group. The most represented undergraduate universities in the MBA student body are the University of Pennsylvania, Cornell University, Columbia University, Harvard University, Yale University, Duke University, Princeton University, Georgetown University, Dartmouth College, University of Virginia, Brown University, Stanford University, and UC Berkeley.
The revised core curriculum

, launching in the fall of 2008, represents about 40% of the degree requirement. 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. 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. 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. The recently launched Columbia CaseWorks

program utilizes the faculty’s research and industry experience and brings that perspective into the classroom through the development of new cases and teaching materials. Beginning in orientation and continuing through core classes and electives, students are immersed in cases that use faculty research to address real-world business issues. Columbia CaseWorks

challenges students to debate corporate decision making and to develop appropriate recommendations and solutions.
Graduating students are rewarded with generous salaries. In 2007, the median starting base salary was $100,000 with a median $30,000 signing bonus and a median $30,000 of other guaranteed compensation.

Areas of Focus

Many students choose to focus on a particular area in order to gain deeper knowledge in a specific discipline. Columbia Business School offers the following areas of focus:

Management / Leadership

Value Investing Program

As part of its MBA curriculum

, Columbia Business School offers the Value Investing Program at the prestigious Heilbrunn Center for Graham & Dodd Investing

, for a handful of selected business school students. The program includes Applied Value Investing and Special Situations Investing. Adjunct professors include hedge fund managers, such as Joel Greenblatt, Paul Sonkin and William Von Mueffling. The program also features an extensive list of guest speakers which include Seth Klarman, Michael Price, Bill Nygren, Charles Brandes and Chris Browne. Notable graduates of the value investing program include Warren Buffett, Mario Gabelli, Leon Cooperman, Chuck Royce, Paul Sonkin and William von Mueffling.

Entrepreneurship Program

Columbia Business School's Entrepreneurship Program

strives to provide students with the skills required for venturing and providing opportunities form them to start an entrepreneurial career in four career paths: entrepreneurship in new ventures, entrepreneurship in large organizations, private equity financing and social entrepreneurship. Consequently, entrepreneurship among Columbia MBA students is on the rise, with 20 students in the MBA Class of 2007 starting their own businesses directly after graduation.

Executive MBA Program

Columbia Business School's Executive MBA (EMBA) Program

is a 20-month graduate program designed specifically for businesspeople 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.
In addition to the New York–based EMBA Program, Columbia offers two partner programs to meet the differing needs and geographical distribution of prospective students. The EMBA-Global

program started in 2001. It is a 20-month program administered in partnership with the London Business School. The program enrolls approximately 70 students from around the world per year. Courses are taught by the full-time faculty of both schools. During the first year, the core curriculum classes alternate monthly between the campuses of Columbia University and the London Business School. The core curriculum is similar to that offered in the regular EMBA programs offered separately by each school, but with a more transnational-business emphasis. Second year classes may be selected from the portfolio of EMBA classes offered at either or both partner schools.
The second partner program is the Berkeley-Columbia Executive MBA

, administered in conjunction with the Haas School of Business at the University of California, Berkeley. This 19-month program enrolls approximately 70 students per year. Classes are divided into five terms. Each term contains five sessions that typically meet Thursday through Saturday. One session per term is held at the Columbia University campus, the other four are held on campus at the Haas School of Business. Courses are taught by the full-time faculty of both schools. The core curriculum is taught during the first three terms and consists of material similar to that given in the other two EMBA programs. The last two terms offer elective courses. Students may opt to spend one term studying exclusively in the NY-EMBA program at Columbia or taking classes in the full-time MBA or evening-weekend MBA programs at Berkeley.
Because students in the partner EMBA programs must satisfy the separate requirements of each partner school, they earn two MBA degrees, one each from Columbia and the partner school.

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 603 applicants in 2007 for positions in an entering class of 18 students (3%).
   Throughout the program, students become familiar with research methods and the literature of their major fields through research projects and directed reading. Doctoral candidates begin the program mastering basic research tools by studying subjects such as economics, behavioral science and quantitative methods, in addition to completing course work and examinations in the major field of study. The completion of course work and qualifying examinations normally requires two to three years.
   The research phase begins as early as the first year, when students serve as research assistants, and continues throughout their time at the School. Students gradually become more involved in the design and execution of research and, by the end of the second year, have typically produced at least one paper suitable for publication, often as coauthor with a faculty member. The later years of the program are dedicated to original research and the creation of the dissertation.
   Recent Columbia PhD

placements include the following:

Harvard Business School

Wharton School of the University of Pennsylvania

London Business School

Kellogg School of Management

Cornell University

University of Notre Dame

Stern School of Business

University of Minnesota

Faculty

Columbia Business School’s eminence is rooted in the strength, leadership and experience of its 116 full-time faculty members, including Joseph Stiglitz, the 2001 Nobel laureate in economics; Ray Fisman, the Lambert Family Professor of Social Enterprise; and Bernd Schmitt, the Robert D. Calkins Professor of International Business. The current Dean is the former Presidential Council of Economic Advisors Chairman Glenn Hubbard. Hedge fund guru Joel Greenblatt is currently an adjunct professor. 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 Finance and is the author of a book titled "The Accidental Investment Banker". James Freeman teaches Investment Banking and is the CEO of a boutique investment bank by the same name.

Academic Divisions

The School's faculty are divided into five academic units:

Accounting

Decision, Risk & Operations

Finance & Economics

Management

Marketing

Research centers

Research centers at Columbia Business School include:

Arthur J. Samberg Institute for Teaching Excellence

Center for Excellence in Accounting and Security Analysis

Center on Global Brand Leadership

Center on Japanese Economy and Business

Columbia Center for Excellence in E-Business (CEBiz)

Columbia Institute for Tele-Information (CITI)

Eugene M. Lang Center for Entrepreneurship

Financial Markets Laboratory

The Heilbrunn Center for Graham & Dodd Investing

Jerome A. Chazen Institute of International Business

Center for International Business Education Research (CIBER)

MBNA Center for the Study of Banking and Financial Institutions

The Paul Milstein Center for Real Estate

The Sanford C. Bernstein & Co. Center for Leadership and Ethics

W. Edwards Deming Center for Quality, Productivity and Competitiveness

Annual Dinner

Held each year on the first Monday in May, the Annual Dinner is a highlight of the Columbia Business School calendar and brings together more than 1,000 business leaders, faculty members, students, alumni and friends for an evening of support for the School's many programs and initiatives. The event provides critical resources for curriculum development, student financial aid, faculty research and the day-to-day operations of the School.

Recent Award Recipients

Since 1977, two awards have been presented at each Annual Dinner, the Distinguished Leadership in Business Award and the Distinguished Leadership in Government Award, to honorees whose careers exemplify the professional, ethical, and leadership principles that define Columbia Business School.

Distinguished Leadership in Business

	Russel L. Carson, General Partner, Welsh, Carson, Anderson and Stowe
	Lew Frankfort, Chairman and CEO, Coach Inc.
	Sidney Taurel, Chairman and CEO, Eli Lilly and Company
	Bob Wright, Vice Chairman and Executive Officer, General Electric Company
	A Tribute to Meyer Feldberg for his visionary 15-year deanship of Columbia Business School
	Rochelle B. Lazarus, Chairman and Chief Executive Officer, Ogilvy and Mather Worldwide
	Sanford Weill, Chairman and Chief Executive Officer, Citigroup Inc.
	Jacques Nasser, President and Chief Executive Officer, Ford Motor Company

Distinguished Leadership in Government

	Ben Bernanke, Fed Chairmanship, Federal Reserve Board of Governors
	Joel I. Klein, Chancellor, New York City Department of Education
	Robert B. Zoellick, Deputy Secretary of State, United States of America
	Frank R. Lautenberg, U.S. Senator, New Jersey
	A Tribute to Meyer Feldberg for his visionary 15-year deanship of Columbia Business School
	John Whitehead, Chairman, Lower Manhattan Development Corporation
	Joseph Stiglitz; Former Chair, Council of Economic Advisors; Chief Economist, World Bank; 2001 Nobel Laureate in Economics; Professor, Columbia Business School
	Rudolph W. Giuliani, Mayor, New York City

Full-Time MBA Ranking

Columbia has consistently been ranked among the top business schools in the world by BusinessWeek, US News & World Report, the Financial Times, The Wall Street Journal, and Forbes. Columbia Business School is one of only two U.S. business schools currently ranked in the top ten of each of these five major publications.
The full-time MBA program has received these rankings recently:

#1 Financial Times, 2007 Ranking of rankings, US Ranking

#2 Financial Times, 2007

#2 Financial Times, 2007 Ranking of rankings, Global ranking

#3 in US National Ranking, 2007
#6 in International Ranking, 2007
#1 for Women, 2006
#4 for Minorities, 2006
#3 for Finance, 2006
#4 for International Business, 2006

#3 Princeton Review Selectivity rating, 2007

#4 Forbes, 2005

#5 Princeton Review 2007 Best Career Prospects

#5 Aspen Institute U.S. Rankings

#6 Aspen Institute Global Rankings

#6 Forbes, 2007

#9 U.S. News & World Report, 2008

#10 BusinessWeek, 2006

Executive MBA Ranking

#4 Financial Times, 2007 Executive MBA Rankings, Global-EMBA program

#6 BusinessWeek Executive MBA Rankings, NY-EMBA program

#2 US Program, #9 worldwide. Financial Times, 2007 Executive MBA Rankings, NY-EMBA program CEO of Berkshire Hathaway; and "the richest man in the world"

César Alierta, MBA '70, Former Federal Reserve Chairman

Russell Carson, MBA '67, namesake for Graham & Dodd value investing.

Charles Exley Jr., MBA '54, Former Deputy Director of the New York City Office of Management and Budget, President, Citizens Budget Commission

Lewis Frankfort, MBA '69, U.S. Secretary of State

John G. Hall, MBA, CEO, PRC LLC

N. Robert Hammer, MBA, Chairman, President and CEO, CommVault Systems

Matthew Hart, MBA '76, CEO, Jabre Capital Partners

Mike Jeffries, MBA '68, CEO of Abercrombie and Fitch

Barbara E. Kahn, MBA '82, PhD '84, Dean of the University of Miami School of Business Administration

Robert Kasten, MBA '66,U.S. Senator from Wisconsin 1981 to 1993.

Arie Kopelman, MBA '62,

Follies

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 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. The Follies' other notable video parodies include Damn It Feels Good To Be A Banka

, B-School Guy vs. Law School Guy

, and Baby Got WACC

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