Tepper School of Business at Carnegie Mellon University About This Guide The Clear Admit team has prepared this reference guide to the Tepper School of Business at Carnegie Mellon University (“Tepper”) to assist you in your research of this program. Our comments are designed to be of use to individuals in all stages of the admissions process, providing information relevant to those who are determining whether to apply to this program, looking for in-depth information for a planned application to Tepper, preparing for an interview or deciding whether to attend. The guide is unique in that it not only addresses many aspects of life as a Tepper MBA student and alumnus, covering school- specific programs in depth, but also compares Tepper to other leading business schools across a range of criteria based on data from the schools, the scholarly and popular presses, and Clear Admit’s conversations with current MBA students, alum- ni, faculty and school administrators. We have normalized the data offered by each business school to allow for easy side- by-side comparisons of multiple programs. www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. Applying to business school? Learn more from Clear Admit! The Leading Independent Resource for Top-tier MBA Candidates Visit our website: www.clearadmit.com Stay up-to-date with the latest news on the world’s best business schools and sharpen your approach to your applications with insider advice on MBA admissions Want this information--and more exclusive content--delivered straight to your inbox? Sign up for our Newsletter Check out our unique offerings to guide you through every step of the admissions process... Publications Live Wire Interview Archive From a school’s curriculum Track the ebb and flow of Receive an invitation for an to universal admissions decisions with interview? We have col- b-school Live Wire: application re- lected thousands of in- strategy, sults in real time, submitted terview reports from MBA each of our by site visitors. candidates. Sort reports by publica- school and know what to tions series expect in your admissions provide a interview. centralized source of informa- tion that is crucial to an effective application. ...and come find us on social media Table of Contents | v Applying to business school? Learn more from Clear Admit! Contents 1 Introduction to Tepper 1 Program Highlights . 1 Brief History of the MBA . 1 Tepper History . .3 Student Demographics . .5 2 Academics 7 Academic Calendar . 7 Orientation . 8 Student Body . 9 Teaching Methods . .9 Visit our website: www.clearadmit.com Core Curriculum . 9 Electives . 10 Stay up-to-date with the latest news on the world’s best business schools MBA Tracks & Concentrations . 10 and sharpen your approach to your applications with insider advice on MBA admissions Capstone Courses . 11 Want this information--and more exclusive content--delivered straight to your inbox? Cross-Registration . 12 Curriculum Comparison . 12 Sign up for our Newsletter Grading System . 13 Grade Non-Disclosure . 14 Faculty . 14 3 Special Programs 16 Global Study . 16 Donald H. Jones Center for Entrepreneurship . 16 4 Life at Tepper 18 Campus Spaces . 18 Life in Pittsburgh . 19 Housing . 19 Clubs . 20 Competitions & Events . 21 5 Life After Tepper 23 Career Opportunities Center . 23 www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. vi | Table of Contents Recruiting/Interview Procedures . 23 Career Statistics . 24 Industry . 24 Geography . 26 Alumni Network . 26 6 Admissions 29 Visiting Tepper . 29 Outreach Events . 29 Application Requirements . 30 Interviewing with Tepper . 30 Deadlines . 31 The Consortium . 31 Alternative MBA Programs . 31 Part-Time MBA Options . 31 3/2 Program . 32 Dual Degree Programs . 33 7 Financing the Tepper MBA 34 Tuition & Expenses . 34 Financial Aid . 34 8 Appendix 36 Essay Topic Analysis . 36 9 Further Resources 39 Publications . 39 Tepper Research Centers & Institutes . 39 Contact Information . 40 www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. Table of Contents | vii www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. Introduction | 1 Introduction to Tepper 1 Program Highlights Management Science Education – Tepper’s history of innova- tion in the field of management science and its affiliation with Carnegie Mellon University (CMU), a world leader in scientific and analytical innovation, contribute to the strength of its teaching methods, which emphasize quantitative analysis in all areas of the MBA curriculum. Tepper’s use of management science, combined with the traditional case study format, gives students both a broad base of knowledge and the ana- lytical skills that are essential to developing innovative solu- tions to business problems. Flexible Specialization – Tepper offers 13 concentrations, al- lowing students to dig deeply into three or four specific sub- ject areas to gain expertise that is easily marketable to pro- spective employers. Close-Knit Atmosphere within a Larger City – Tepper’s small class size encourages a close-knit and collaborative communi- ty atmosphere in which students and their partners can study and socialize together, while its Pittsburgh setting affords all of the cultural and professional benefits of a sizable U.S. city. Technology Job Placement – Tepper sends nearly the same percentage of graduates into technology jobs as into the consulting or financial services industry. CMU’s location in Pittsburgh, an area currently experiencing a boom in the high tech industry, attracts recruiters and enables students to find ample employment in the area. Brief History of the MBA Originally conceived as an extra year of undergraduate train- ing in finance, economics and accounting, business schools shifted around the start of the 20th century to begin offering managerial training for the U.S.’s new industrialized compa- nies (see Figure 1.1). Their prestige grew throughout the Great Depression of the 1930s, when the research and train- ing generated by business schools was seen as a key to the country’s economic recovery. The unprecedented managerial needs of World War II further increased the demand for for- mal business education, and after the war, U.S. veterans used their G.I. Bill funding to finance their business studies and move into management jobs. By the 1950s, the MBA was a two-year, post-graduate pro- www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. 2 | Clear Admit School Guide: Tepper School of Business Figure 1.1 Notable Developments in MBA History MBA Degree Tepper School of Business • Business schools are established in the U.S. to 1880s train managers for service in the new industrial- ized economy, especially the railroad industry. • Academic focus is on accounting and bookkeep- ing, and most professors are professionals in these fields. • Association of Collegiate Schools of Business is 1910s founded in 1916 to provide resources for the grow- ing number of U.S. business schools, which by 1919 enroll over 36,000 students. • On-campus recruiting by industry rises. 1920s • Curricula begin to include policy issues. • The research and training conducted by business 1930s schools during the Great Depression is seen as key to the U.S.’s economic revival, significantly raising public opinion of business schools. • World War II sharply increases demand for trained 1940s • The Graduate School of Industrial Administration managers, and WWII veterans return to U.S. busi- (GSIA) at Carnegie Mellon University, which would ness schools in droves. later become Tepper, is founded in 1949 by oil tycoon William Larimer Mellon. • Most professors now hold Ph.D.s in business, and 1950s • The Business Advisory Council is formed in 1952, academic research begins to form the basis of and results in the introduction of the new teaching business school curricula. method of management science. • Strategic decision-making and quantitative and • Professor Richard Cyert creates the Management statistical analyses enter many curricula. Game. 1960s • The Management Game becomes a core require- ment in 1965. • The School of Computer Science opens in 1965. • The Heinz College of Public Policy and Managament opens in 1967. • MBA starting salaries rise 5-10% per year at some 1970s schools, even during stagflation. • Entrepreneurship enters most curricula. 1980s • The FlexTime program is introduced in 1985. • GSIA becomes the first business school to replicate Wall Street trading software and live feeds with the Financial Analysis and Security Trading Center. • Business schools focus on leadership, ethics and 1990s • A company-sponsored distance learning option is interpersonal skills, altering course content and in- added to the school in 1996. creasing classroom emphasis on working in teams. • High-profile corporate scandals prompt calls for 2000s • Dean Kenneth B. Dunn is appointed in 2002. greater ethics education in business schools. • In 2004, alumnus David Tepper donates $55 mil- • By 2004, 447,000 students are enrolled in U.S. lion, and the school is renamed the Tepper School business programs. of Business in his honor. 2010s • Robert Dammon assumes the deanship in May 2011. www.clearadmit.com © 2006-2014 Clear Admit, LLC. All rights reserved. Introduction | 3 gram that turned business into a professional discipline on par with medicine and law, and the degree was seen as a ticket to a better, more secure career. The MBA continued increas- ing in popularity, from 21,000 business management master’s