columbia mba

MBATHE COLUMBIA

II Columbia Business School

Welcome to Columbia Business School.

Known as one of the finest

international business schools in the world,

the School is enriched both in and out of the

classroom by its eclectic faculty, heterogeneous student body and global

alumni network. Diverse by any measure—geographic, cultural,

professional—Columbia Business School thrives on the resulting synergy.

New York, Ivy League. Our home, New York, is a center of

international business, a global financial and communications capital

and the most entrepreneurial city anywhere. It is among the world’s

most compelling places to live, work and study—you can’t help but

feel invigorated by your surroundings. We are a proud part of Columbia

University, the only member of the Ivy League in New York. We draw

on the University’s impressive strengths—in law, international and

public affairs, medicine and social sciences—to add greater depth

and opportunity to the MBA Program.

Leadership for Life. The focus of a Columbia MBA is education

for a lifetime of success in a changing global environment. The core

courses, the electives, the concentrations, the research centers all

help you prepare for your entire career, not simply your next job.

Entrepreneurship, internationalism and leadership are woven

throughout the curriculum because they are key to leveraging

opportunities, now and 50 years from now.

From Ideas to Impact. Columbia Business School’s faculty and

curriculum bridge the theory and practice of business. The Columbia

experience is a marriage of ideas and impact, with faculty members,

alumni and students connected to the School and the world.

The People Business. Perhaps our greatest value lies in our

students’ three strongest networks: the faculty, alumni and one

another. Our people shape the Columbia Business School experience,

inspiring creative thinking and honing sharp intellect. They foster

an entrepreneurial mindset focused on identifying and capturing

opportunity—the stuff of which leaders are made.

The Columbia MBA experience is exhilarating, intensive and

transforming, and it gives back to you even more than you put in.

I invite you to discover it for yourself.

Glenn Hubbard Dean and Russell L. Carson Professor of Finance and Economics

FROM THE DEAN

Columbia Business School 1

2 Columbia Business School Columbia Business School 3

THE COLUMBIA BUSINESS SCHOOL

EXPERIENCE

4 Columbia Business School

L ocation. Global focus. Impressive resources in

intellectual capital. Leadership in business education.

A network of accomplished alumni and friends that spans

the world long after graduation. An energetic community

of multitalented, diverse students who are distinctive,

entrepreneurial, focused, flexible and successful. Columbia

Business School’s competitive advantages are legion.

Reputation

The Financial Times, Business Week, U.S. News and World

Report and Forbes agree. Columbia Business School is

ranked among the handful of top graduate business

schools worldwide, year after year.

Columbia’s reputation draws on the excellence of its

curriculum, which ensures students a rigorous, broad-based

management education encompassing such subjects as

accounting and finance—the foundation of any industry—

as well as internationalism, entrepreneurial thinking and

leadership, which are woven throughout. An outstanding

faculty and innovative programs in entrepreneurship, healthcare

and pharmaceutical management, marketing, media, real estate

and social enterprise add to the School’s luster.

The New York Advantage

New York is unparalleled in the access it offers

students to the practice of global business—

for hands-on learning, mentoring and career

networking, whatever the industry. “There are

countless recruiting and cultural opportunities,”

says one student. “You’re just a subway ride

away from hundreds of recruiters and role

models in every industry. Here you can use

your drive to get things accomplished.”

A Welcoming Community

The students, alumni and members of the

faculty and administration, among others,

who make up the Columbia Business School

community provide a network offering a lifetime

of friendship, professional advancement and

inspiration. “You get the sense of a small town

within the big city,” says one first-year student.

It is a “small town” that offers something

for everyone: Columbia is one of the most

heterogeneous of leading business schools

in professional background, international

representation and individual demographics.

In recent years, approximately 34 percent—

consistently one of the highest numbers among

our peer schools—of the entering class have

been women. And we consistently rank No. 1

or 2 in the enrollment of minority students.

Recruiters place exceptional value on Columbia Business School alumni for their

global outlook, drive and intelligence—traits that serve graduates well, no matter

what industry. A recent Forbes ranking of the return on investment from earning

an MBA again placed Columbia Business School No. 2 among all competitors. The

Forbes survey reports the income of class members four years after graduation.

On average, the School’s graduates had more than tripled their pre-MBA salaries.

What did our graduates tell Forbes they like about Columbia? They value the

heterogeneity and international diversity of the Columbia community, the strength

of the curriculum and the School’s proximity to Wall Street.

REPUTATION

HodrickLOCATION


LAURIE SIMON HODRICKAs professor of finance and economics,

is known for her groundbreaking

research on corporate finance, which

earned her the National Science

Foundation Presidential Young

Investigator Award; also has received

many awards for teaching excellence,

including the School’s Singhvi Prize

for Scholarship in the Classroom

three times and the University’s

Presidential Teaching Award.

“Columbia Business School is the only

place that I can teach a theory on

Monday, do a case illustrating that theory

on Wednesday and have the principal in

the case come to class on Thursday and

tell us the hows and whys of the real

situation. The New York advantage

combines the synergy of the best teaching,

the best research and the best from business

practice. It’s an incredible education.”


Class of 2007 Profile

September entrants . . . . . . . . . . . . . . . . . 515

January entrants . . . . . . . . . . . . . . . . . . . 196

Average age at entry. . . . . . . . . . . . . . . . . 28

Age range . . . . . . . . . . . . . . . . . . . . . 21–41

Average years of work experience . . . . . . . 5

GMAT range (middle 80%) . . . . . . . 660–750

GPA range (middle 80%). . . . . . . . . . 2.9–3.9

Non-U.S. citizens . . . . . . . . . . . . . . . . . . 32%

Women . . . . . . . . . . . . . . . . . . . . . . . . . 33%

Minorities . . . . . . . . . . . . . . . . . . . . . . . . 24%

Undergraduate MajorClass of 2007

Engineering and Computer Science 20%Economics 24%

Business 19%

Other 9% Humanities and Social Sciences 20%

Pure Science and Math 8%


PenmanSTEPHEN H. PENMANAs the George O. May Professor of

Accounting, focuses on financial

statement analysis and the use of

accounting information in equity

valuation; Morgan Stanley Dean Witter

Research Scholar; codirector of the

Center for Excellence in Accounting

and Security Analysis (CEASA).

“Columbia students bring their

experiences into the classroom,

making the course work more potent

for everyone. I really learn from these

interactions, and I know the students

do as well. The academic environment

here is exceptional. Columbia students

are intense and focused. As a faculty

member, it’s incredibly satisfying.”

MBA AT A

GLANCEThe numbers are compelling: Over the past decade,

applications to Columbia Business School have nearly

doubled—among the largest increase at any top business

school. And Columbia MBA students are extremely attractive to

corporate recruiters, who actively recruit on behalf of hundreds

of employers each year, holding thousands of interviews.

The Ivy League Edge

Columbia Business School students also enjoy the qualitative

benefits of being part of the only Ivy League university in

New York. Columbia has long been acclaimed for its intellectual

capital and cutting-edge research. Seventy Nobel laureates have

taught or studied at Columbia, including current

Business School faculty member Joseph Stiglitz.

Dual-degree programs allow MBA students a choice

of 11 advanced degrees at other schools at the

University. Other opportunities abound, whether to

take courses in other divisions or work informally

across disciplines. “It’s great to take classes or just

interact with people from different schools,” says

one MBA student. “One of my best friends is a

PhD English student.”

On the Web:

■ Top employers of graduates

■ Select recruiting companies

■ Employment reports

Look for similar Web links

throughout this publication for

more on Columbia Business

School.

www. gsb.columbia.edu /recruiting

Professional BackgroundClass of 2007

Investment Banking 14%%Consulting 15%

Financial Services 11%

Technology 10%Media/Entertainment 9%

Retail/Consumer Goods/ Manufacturing 10%

Healthcare/Pharmaceuticals 3%Real Estate 4%

Nonprofit/Government 8%

Other 9%

Energy and Minerals 2%

Private Equity/Venture Capital 5%


THE COLUMBIA

COMMUNITYColumbia Business School students find that from day 1

of orientation they have a ready-made community—

a distinctive strength fostered by the cluster system, rigorous

classes, team projects, involved alumni and a strong sense

of connection between students and faculty members.

One first-year says, “It’s hard to describe if you’ve never been

through it before. We all have totally different backgrounds

and opinions and views. But we discover we’re all partners

in each other’s education.”

■ A variety of programs and events at the School foster

extraordinary connections between students and role

models, whether faculty members, recent or more seasoned

graduates, or even members of the Board of Overseers.

■ Some 100 student-organized clubs and groups run the

gamut from the social to the athletic to the career-oriented,

from international travel to community service activities.

■ Morningside Heights, at once urban and collegiate,

is a real community—one of the many distinct, vibrant

neighborhoods that make up New York. www. gsb.columbia.edu /community

On the Web:

■ Student activities and organizations

■ The Columbia campus

■ Community service opportunities


rohitROHIT MALIK MBA ’07Background: Financial analyst for IBM Worldwide

Design Centers, Congressional intern and researcher

at the American Enterprise Institute and the

Brookings Institution.

Focus: Strategic management.

Career goal: Improve leadership abilities that will

lead to a long-term, fulfilling career in management

and leadership, possibly in the political sector.

“On the first day of school, the dean himself welcomed

people. He had seen my application, so right off the bat

that made me feel that this was my home, not just a place

where I go to class. The fact that he is trying to make

great strides for leadership and ethics paralleled my own.

The administration is constantly soliciting feedback, and

they’re open to our fresh ideas.”

STUDENTSThe heterogeneity of Columbia MBA students—in background,

race, nationality, gender and experience—is impressive.

“You’ll find many people here who are like you,” says one

observer, “and many who are not.” A first-year student echoes,

“Many come from Wall Street and from financial backgrounds,

but many do not. There are former teachers, marketing folks,

engineers. It’s a broad spectrum of backgrounds, and it’s

refreshing.” This diversity is an asset in the classroom, too. “In my

course on negotiations,” says one faculty member, “one big lesson

I want to get across to students is that differences in values or

differences in beliefs are really something to be cherished.”

All of a Sudden, Family

Each entering class is divided into clusters, or groups of

students who take every core course together for the first year

of the program and overlap regularly thereafter. “The clusters

are great,” says a first-year student. “You have about 65 people

that all of a sudden become family.” Clusters and their smaller

offshoots, study groups of four to five persons, are diverse by

design. “We mix people up so the groups reflect our

community and students can really learn from each other,”

says one member of the Student Academic Affairs Office.

Students find they appreciate the team-building skills and

meaningful networks that this group work fosters. One native

New Yorker says, “I spend all day with my cluster and my

study group, and I still look forward to studying with them

or going out with them in the evening.”

Constant Activity

Nearly 100 academic, professional, community service, social

and recreational organizations mean Columbia Business School

provides myriad opportunities for leadership or for simply having

a good time. “If you’re looking for a job and want a club that

suits your needs, you’re guaranteed to find it. But the ones that

aren’t job-related are more fun,” advises the former president

of the Wine Society. Many students are involved in tutoring,

mentoring or pro bono consulting programs. There’s so much

happening around campus, one student says, that “the big joke

is we never have to go south of 110th Street.”

Another student likens the Columbia community to a

smorgasbord: “Some schools put food on your plate and say this

is what you have to eat. Columbia is a fabulous buffet of options

and friendships. If you’d like more social contact, there are lots

of opportunities. If you’d like less, no one thinks that you’re

ostracizing yourself.”

Responsive Reception

Students note the willingness of people in the Columbia

community to encourage feedback and suggestions and, more

important, to then act upon them. “The School invests a lot

of time in terms of making sure people are happy,” says one

student. “They constantly seek feedback from students.”

“Every week the class in retailing leadership brought in the

CEOs or presidents of the world’s best retailers, such as

Tiffany. We were not only able to learn about retailing, but

how to be a successful leader. The professor encouraged us

to ask personal questions, such as what qualities these

CEOs look for in hiring people. It helped us as individuals

see ourselves getting to that point in our careers.”

jenniferJENNIFER MECHLOWE MBA ’06

Background: Business analyst at McKinsey & Company,

then undertook a planning function at Bloomingdale’s.

Focus: Marketing and management.

Career: McKinsey & Company associate, specializing in

retail and consumer industries.



Columbia Business School students enjoy total immersion

in one of the world’s business capitals. That means,

among other things, unparalleled access to global leaders on a

day-to-day basis. “They hop in a limo and they’re here,” says

one student. “You don’t get that anywhere else. Period.” They

come to campus to share their knowledge—and be frank about

their mistakes—in a no-holds-barred, sleeves-rolled-up fashion.

Hundreds of business leaders visit the School

each year as Silfen Leadership Series speakers,

executives in residence, recipients of one of

the Benjamin Botwinick Prizes in ethics, guest

lecturers in the classroom or adjunct faculty

members to share their insights with students

in an intimate environment. The energy and

perspective they bring create a context in

which classroom studies and research projects

take on a whole new meaning.

Learn from Leaders

The importance of the real-world perspective, leadership styles

and personal philosophies these executives share with students is

undeniable. A popular speaker series that has brought top leaders

to campus for more than 30 years was renamed the David and

ACCESSLyn Silfen Leadership Series in 2002 in recognition

of the former Goldman Sachs partner and his wife.

“These are world leaders speaking to potential

world leaders,” says one observer. Adds Silfen,

MBA ’68, “The speakers enjoy it too—they know

this is a

broad-gauge and highly accomplished group.”

Another important asset for students is

the 89-person Columbia Business School

Board of Overseers, whose members play

a major and often highly personal role in the

School’s activities and strategies, providing

an international and increasingly broad

perspective on leadership.

From Access to Outcome

One example illustrates the impact access can

have on a student’s career. After hearing board

member Mario Gabelli, MBA ’67, speak on

campus a student introduced himself, saying,

“I’d like to work for you.” He got a call from

a Gabelli staffer the next day, parlayed his

conversation into an internship and now works

for Gabelli Funds. At Columbia Business School,

students can take advantage of a number and

variety of opportunities that just aren’t available

anywhere else.

SELECT RECENT SPEAKERS AT COLUMBIA BUSINESS SCHOOL

David Barger President and COO, JetBlue Airways

Wolfgang Bernhard MBA ’88 Member of the Board of Management, Volkswagen Brand Group

Russell Carson MBA ’67 General Partner, Welsh, Carson, Anderson & Stowe

Bruce Chizen CEO, Adobe Systems

Leon Cooperman MBA ’67 Chairman and CEO, Omega Advisors

Donny Deutsch Chairman, Deutsch, Inc.

Barry Diller Chairman and CEO, IAC/InterActiveCorp

Jamie Dimon President and CEO, JPMorgan Chase

Mickey Drexler Chairman and CEO, J. Crew

Michelle Felman Executive Vice President, Acquisitions, Vornado Realty Trust

Lew Frankfort MBA ’69 Chairman and CEO, Coach

Geraldine Laybourne Chairman and CEO, Oxygen Media

Ann Moore Chairman and CEO, Time Inc.

Henry Paulson U.S. Secretary of the Treasury

Robert Rubin Chairman of the Executive Committee, Citigroup

David Stern Commissioner, NBA

Bob Wright Chairman and CEO, NBC Universal


(Above left) Columbia MBA students at the spring 2006

Berkshire Hathaway annual meeting with Warren Buffett,

MS ’51, chairman and CEO

(Above right) Shelly Lazarus, MBA ’70, chairman and CEO

of Ogilvy & Mather Worldwide; Jerome Chazen, MBA ’50,

chairman of Chazen Capital Partners; Paulo Scaroni,

MBA ’73, CEO of ENI

www. gsb.columbia.edu /network

On the Web:

■ Members of the Board of Overseers

■ Distinguished Speakers

■ Executives in Residence

■ Alumni in the United States and around the world

■ More on the Columbia network


ENVIRONMENTColumbia Business School is housed in Warren Hall and

in Uris Hall, which is part of the University campus

designed more than a century ago as an academic village of

Italian Renaissance–style buildings. Columbia makes its home

in Morningside Heights, a New York neighborhood filled with

shops, restaurants, bookstores—and a distinctly collegiate air.

“Sometimes I feel I don’t live in New York City as much as I do

at Columbia University,” says one student. “It is my home.”

A College Town in the City

The bustling streets and shops of

Morningside Heights are bounded

by leafy triumphs of urban planning,

with Riverside Park and its views of

the Hudson River along one side,

Morningside Park bordering the other

and Central Park just a short walk

away. “With the Cathedral of

St. John the Divine and Grant’s Tomb,

the neighborhood looks something like

Paris,” says one resident. It’s filled with

outdoor cafés, ethnic restaurants, music

clubs, open-air fruit markets, clothing

stores and ice cream parlors. And it’s made distinctive by the

close-knit community of people who live there, many of

whom study, teach or work at Columbia or one of the many

other schools nearby.

“For our holiday party in late November, we

invite kids from neighborhood shelters, schools

and after-school programs. About 200 student

volunteers and 200 kids get together for face

painting, food, and music. It’s amazing to

see business school students over the course

of a couple of hours realize what is really

important—how fortunate they are to be here,

and that they have a larger sense of duty to the

community. That event really moved me, and

it’s why I love Columbia and New York City.”

—Albert Lee MBA ’07

An Urban Oasis

With its 36 acres adorned with spacious tree-

shaded lawns and plazas, Columbia’s campus,

built in 1897, was designed to be a refuge

from the bustling streets around it. And it’s

conveniently situated—many of the city’s

cultural and professional networking attractions

are within a half-hour’s ride by cab or subway.

The campus’s relatively small size, meanwhile,

promotes interaction within and across schools

and makes it easy to attend a variety of world-

class lectures and events.

Business School Facilities

Ornate iron gates flank the main entrance to

the Columbia University campus at 116th Street

and Broadway, a short walk from Uris Hall,

the School’s home. Warren Hall, a light-filled,

eight-story building erected nearby in 1999 on

the corner of Amsterdam Avenue and 115th Street,

provides shared space for Columbia Business

School and Columbia Law School.

Housing Options

Some business students live near campus in

University-owned student housing, which,

while limited in supply, is provided to students

based on their distance from New York. Others

explore options in non-University-owned

housing, whether in Morningside Heights, the

Upper West Side, Greenwich Village or beyond.

brad


BRAD ASPEL MBA ’06Background: As a Broadway actor,

he led a fund-raising effort for his

cast that raised $240,000 for charity.

Focus: A broad education with

an emphasis in finance.

Career: McKinsey & Company consultant.

“During my first year I got an internship

at Sesame Workshop, working under

the stewardship of a Columbia Business

School alum. I got to see someone

20 years out of the program and, because

it was a finance/marketing project,

immediately apply what I had learned. All

this took place in a nonprofit atmosphere,

which made it a really rich experience.

Overall, it represents the connection, the

learning and the resources of Columbia.”


THE MBA PROGRAMT he Columbia MBA integrates leadership skills, an

international perspective, and entrepreneurial and

cross-disciplinary approaches to prepare its students for a

lifetime of success. The curriculum encourages independent

thinking, and learning is facilitated by faculty members who

move their ideas from research into practice; by visiting

executives who share lessons learned at the highest levels;

and by fellow students who bring together diverse

perspectives to create a cohesive, lifelong network.

One Program, Two Formats

Students may choose from two four-term formats as they

pursue a Columbia MBA.

■ September Entry Students typically pursue a summer

internship between their first and second academic years.

The internship option is particularly suited to those who

want to change industries or move to a new career path.

■ January Entry Students complete four consecutive terms

spanning 16 months in the accelerated program, graduating

with the class that began the previous September. This option is

ideal for those who want to remain in the same industry, return

to a current employer or continue an entrepreneurial venture.

GreenwaldBRUCE C. GREENWALD As the Robert Heilbrunn Professor of Finance and Asset

Management and director of the Heilbrunn Center for

Graham & Dodd Investing, focuses on value investing as

well as productivity and the economics of information; first

Business School faculty member to receive the University’s

Presidential Teaching Award and three-time winner of

the student-designated Singhvi Prize for Scholarship in

the Classroom; called “a guru to Wall Street’s gurus” by

the New York Times; coauthor of Competition Demystified:

A Radically Simplified Approach to Business Strategy

(2005), described as “the most important new book

on competitive strategy in a quarter-century.”

“Improvements in the standard of living throughout the world

depend on the kinds of people I teach at Columbia Business

School. If managers do badly, stores are empty, lights do not

go on, cars fall apart and, ultimately, people everywhere lead

shorter, more unpleasant lives. To the extent that they—and

I—do a good job, progress will continue to spread throughout

the world. I cannot conceive of a greater, more rewarding

challenge than teaching and doing research at Columbia.”

www. gsb.columbia.edu /academics

On the Web:

■ Popular electives

■ Areas of study

■ Course descriptions

■ More on dual degrees

■ Sample course schedules

(Above left) Raymond Horton, Frank R. Lautenberg

Professor of Ethics and Corporate Governance and director

of the Social Enterprise Program


A Solid Foundation

The core curriculum, taken during the first two terms, gives a

solid foundation for a lifetime of learning. Taught by full-time

faculty members, the core consists of five full courses and

eight half-term courses and represents 45 percent of degree

requirements. Courses that make up the core are Corporate

Finance, Creating Effective Organizations, Decision Models,

Financial Accounting, the Global Economic Environment,

Leadership, Managerial Accounting, Managerial Economics,

Managerial Statistics, Managing Marketing Programs, Marketing

Strategy, Operations Management and Strategy Formulation.

Students who can demonstrate considerable expertise in

an area may be exempted from the corresponding core

requirement, allowing them to take advantage of more

advanced offerings.

Concentrations

Concentrations are optional and include the areas listed at far

right. Students can also focus on a subspecialty within an area,

develop a self-defined focus or graduate without a concentration.

CURRICULUMCross-Registration and Dual Degrees

Columbia Business School makes a point of offering the

same flexibility it encourages in students. Students choose

from around 200 elective courses at the School and can

supplement these with offerings from among the more

than 4,000 graduate-level courses at 12 of the University’s

other schools. Field-study and independent-study options

allow students to tailor programs of study to their interests.

Dual degrees (see page 40) are available with 11 other

Columbia schools—and the programs can be applied

to simultaneously or when a student is already enrolled

in one of the schools. “The biggest surprise for me was

how many options there were,” said one second-year

general management student. “And there are phenomenal

professors in every area. They’re brilliant and talented in

academics and in teaching. I’m really, really pleased with

the quality of my education.”

Select Concentrations

■ Accounting

■ Decision and Risk Analysis

■ Entrepreneurship

■ Finance and Economics

■ Human Resource

Management

■ International Business

■ Management

■ Marketing

■ Media

■ Operations Management

■ Real Estate

■ Social Enterprise

kameronKAMERON KORDESTANI MBA/MIA ’05

Background: As an undergraduate, worked at the

U.S. embassy in The Hague; worked for four years at

Deloitte Consulting in Southern California; also pursued a

master’s in international affairs at Columbia’s School of

International and Public Affairs; coordinated and planned

community service programs at the Business School.

Focus: General management.

Career: McKinsey & Company associate; long-term goal

is to manage an international nonprofit.

“My biggest take-away is that Columbia is really what you

make of it. The experience and the benefits are proportional

to the effort you put into it—building friendships and

relationships, getting involved in student organizations.

It’s a very entrepreneurial place, and it is up to each person

to customize that experience.”



ACCELERATIONainsleyAINSLEY HINES MBA ’07 Background: An art history major as an undergraduate,

she got into business in Sotheby’s wine department and

then worked on hedge funds and in trading for two years

before doing performance analysis for a Washington, D.C.

best practices firm.

Focus: Retail, finance and management.

Career goal: Retail finance and strategy.

“Ten days into school Hurricane Katrina hit, and my dad’s

business was 20 feet under water. The school rallied

behind me, and it meant so much that the community

continued to ask me about it through the year. In May,

14 of us went to New Orleans to do service work.

For a week we gutted houses and helped build others.

I couldn’t believe the strength of my friends.”

THE ACCELERATED MBA:

COLUMBIA’S 16-MONTH, JANUARY-ENTRY OPTION

This full-time program begins in January and continues for

16 consecutive months. It offers the School’s full-time MBA

experience and curriculum to those students who do not

need or want a summer internship.

■ Complete your degree in four

consecutive terms—and be out of

the workforce for only 16 months.

■ Begin your MBA program when it’s

convenient for you—and enjoy the

benefits of remaining at your job

through the end of the calendar year.

■ Enjoy diversity in a smaller class. The 2007 class has

196 students, representing 46 countries and speaking more

than four dozen languages. Nearly two-thirds of them

were born outside of the United States, and nearly one-third

are women. The class includes the chief of staff of the

New York City Economic Development Corporation, a UNICEF

volunteer in Namibia, an Ironman triathlete and entrepreneurs

who launched more than 15 business—including an airport

spa chain, an indie music label and a Swedish alcohol import

and export company.

“I was completely blown away by how friendly

and down-to-earth the people are, although they

are so smart and accomplished. Even after a

year out, the students, faculty and administration

seem amazing.”

—Franklin Cho MBA ’07

THE ACCELERATED MBA IS IDEAL FOR YOU IF

■ you want to stay in the same industry after graduation or

■ you are sponsored by your company or

■ you are an entrepreneur or

■ you plan to return to your current employer or

■ you want to join your family business.

Bridging Theory and Practice

Columbia Business School offers the kind of research

centers and emerging programs that are possible only in an

environment that combines the advantages of a preeminent

research university with the dynamism of the city itself.

■ The Eugene M. Lang Center for Entrepreneurship

Entrepreneurship is integrated throughout the Columbia MBA

core, in electives and in hands-on lab settings.

Whatever the leadership position or industry, it’s

a competitive advantage to be able to identify

value, capture opportunity and solve problems

with limited resources. “At Columbia, we encourage

the individuality, the quirkiness, that it takes to

be a good entrepreneur,” says one observer.

The Lang Center oversees a wealth of resources,

including an extensive network of mentors and

the Eugene M. Lang Entrepreneurial Initiative Fund,

which invests up to $250,000 of seed funding in

student ventures each year.

■ The Social Enterprise Program

The Social Enterprise Program prepares leaders to create social

value in business, nonprofit and government organizations—

from the local to the international stage. It promotes the

development of professional expertise in four areas:

public and nonprofit management; international development

and emerging markets; corporate social responsibility and

sustainability; and social entrepreneurship. Students are able

to construct a learning experience that reflects their ideals

and goals.

■ The Paul Milstein Center for Real Estate

The MBA Real Estate Program features a rigorous curriculum

that blends theory with practice. Students enjoy the dual

advantages of a top-ranked MBA education in the capital of the

real estate industry. And in the world of real estate, the program’s

alumni base represents much more than a network—it is a

framework upon which graduates construct their careers.

■ The Media Program

Columbia Business School combines a varied media curriculum

with exposure to industry leaders, who visit the School to share

firsthand insights into changing technologies, cost structures,

regulations, consumer tastes and expectations, and more. Full-

time faculty members—from finance and economics to marketing

and management—apply their scholarship to the issues that

shape the media industry. Internships and relationships provide

access to the New York–based global media community.

■ Heilbrunn Center for Graham & Dodd Investing

The concept of value investing—identifying and buying securities

priced below their true value—was developed at the School in

the 1920s by Professors Benjamin Graham and David Dodd,

MS ’21, providing the first rational basis for investment decisions.

Today, the center builds on its tradition, its faculty and its

location, including access to leading practitioners and firms and

the School’s powerful networks on Wall Street.

■ Program in Healthcare and Pharmaceutical Management

Through an innovative curriculum, faculty mentorship and

interaction with industry leaders, students gain the real-world

insight needed to manage, invest in and launch healthcare

enterprises—all in the vibrant New York location that is key to

our success.

■ Retailing and Luxury Goods

Columbia Business School offers a leading curriculum in retailing,

with a focus on the design and marketing of luxury brands.

Guest speakers at the highest levels of the industry—from Chanel

and Saks to Ikea and Abercrombie & Fitch—frequently appear in

classes or at meetings of the Retail and Luxury Goods Club.

OPTIONS

On the Web:

■ The Global Social Venture Competition

■ More on student entrepreneurial ventures

■ Courses and cases in real estate, media, value investing and retailing

www. gsb.columbia.edu /teaching



IDEAS AT WORKR esearch and teaching at Columbia Business School identify

opportunities and address needs in business and society

at large. Members of the faculty are world-class teachers whose

scholarship regularly bridges theory and practice. Their ideas,

honed in discussions with students and colleagues across

disciplines, are put to work in

businesses around the world.

Faculty members help to change

managements and organizational

and financial practices, which in turn

can lead to the creation of wealth

and prosperity for many citizens of

the global economy. It’s clear why

academic journals and leading media

outlets frequently seek them out for

their perspectives on current issues.

A Learning Environment

The School’s leadership in global business education is driven

by the strength, reputation and experience of its 117 full-time

faculty members. More than half have lived and worked abroad,

and most consult for global business organizations. Often, they

choose to be in New York because the city is a top laboratory for

(Above left) Ralph Biggadike, professor of professional practice

business study. Their teaching is complemented

by that of about 120 adjunct faculty members,

accomplished practitioners all. In the classroom,

lectures and case studies come alive thanks to

professors’ extensive real-life experience in the

business world. And the Columbia Business

School community thrives on its extraordinary

access to them: students frequently socialize with

faculty members and after, as alumni, keep in

touch with their mentors.

Expanding Capabilities

A talented faculty is the lifeblood of exciting

teaching and significant research, and, looking

to ensure continued strength, Columbia has

added nearly 50 new faculty members in

five years. “The School attracts exceptionally

brilliant and charismatic professors,” says

one second-year student.

Stiglitz

On the Web:

■ Magazine: an online magazine showcasing recent research

■ Research briefs: one-page digests of research findings

■ Research archive: a searchable database of faculty publications

www. gsb.columbia.edu /ideas

JOSEPH STIGLITZ

Columbia Business School faculty

member Joseph E. Stiglitz won a Nobel

Prize in economics for his pioneering

analyses of markets with asymmetric,

or imperfect, information. A former chief

economist of the World Bank and chair-

man of the Council of Economic Advisers,

Stiglitz leads the seminar Globalization

and Markets: Reforming International

Economic Architecture. He also directs

the Initiative for Policy Dialogue, to

help developing countries explore policy

alternatives. Among his recent books

are Globalization and Its Discontents

and The Roaring Nineties.



INNOVATIONIdeas Matter

The academic frontiers of finance two or three decades ago

dominate the practice of investment management today.

Financial accounting research on earnings quality and

valuation is now commonly used in practice. These are only

two examples of the thousands of ideas that have made the

leap from “academic” to “received wisdom.”

The School is a key forum for developing the ideas that

will shape the world in such areas

as improving corporate governance,

understanding individual decision

making, fostering economic

institutions for growth, developing

brand value, enabling healthcare

markets and designing accounting

systems. And business research can

contribute to broader discussions

of corporate social responsibility,

management practices and employee

success, and costs and benefits of

globalization, among others.

Centers for Research

The School features 14 research centers, environments where

faculty members work across disciplines and with students to

address issues of global business. The centers are also among

the catalysts for involving real-world business stars in the

education of our students.

Research Centers at Columbia Business School

■ Arthur J. Samberg Institute for Teaching Excellence

■ Center for Excellence in Accounting and Security Analysis (CEASA)

■ 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

■ 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

■ Paul Milstein Center for Real Estate

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

■ W. Edwards Deming Center for Quality, Productivity and Competitiveness

From the Campus to the World

The work of the School’s faculty has an impact on the

business world and on everyday life—in sometimes

surprising ways. Three recent examples:

■ Linda Green, the Armand G. Erpf Professor of the

Modern Corporation and a founder and codirector of

the Columbia Alliance for Healthcare Management,

was honored for developing widely used systems for

shortening emergency room wait times and allocating

the patrol cars needed to respond to 911 calls.

■ Frederic Mishkin, the Alfred Lerner Professor of Banking

and Financial Institutions and an expert on monetary

policy and its impact on financial markets, was recently

nominated by President Bush to serve on the Board of

Governors of the Federal Reserve System.

■ Michael Morris, professor of management, received

a major research award for his studies on how cultural

traits affect people in business settings. These studies

have launched a new paradigm for researching cultural

influences in behavioral management and marketing.


“The Milstein Center for Real Estate is a great

conduit for turning cutting-edge research ideas

into practice. The center has sponsored research

on housing bubbles that has been the subject

of dozens of stories in the media. We have

written 70 cases that were used exclusively in

the Columbia curriculum. The Chazen Institute

and the Milstein Center have sent students and

faculty on annual trips to meet executives in

London, Berlin, Hong Kong and Shanghai.”

—Chris Mayer

Paul Milstein Professor of Real Estate

Director, Paul Milstein Center for Real Estate


CAREERSRecruiters from diverse industries tell us that what most

attracts them to Columbia MBAs is graduates’ ability to

hit the ground running and contribute immediately to their

organization. The School’s employment statistics rival those

of other top schools, and graduates’ starting salaries are

consistently ranked among the highest in the country.

Location, Location, Location

New York offers far more—and more

easily accessible—recruiting opportunities

than any other city. Even when the job

market is tighter, “there’s an ease of doing

it here that makes the difference,” says

one student. “You don’t have to take

a plane and make hotel reservations.

You just call them up and say the

word ‘Columbia’ and you’re there. And

if someone wants to see you again,

no problem.” Another student notes the turnout at on-campus

recruiting events: “Citigroup brought 60 or 70 Columbia grads who

now work there—the student-to-recruiter ratio was only about

2 to 1. Having that opportunity to talk to someone from every

single department is a huge advantage.”

The Alumni Network

Newly minted Columbia MBAs join the

School’s unusually active international network

of more than 36,000 alumni, who tend to be

well positioned and eager to help. Says one

second-year finance student, “Just as you walk

into the School with a cluster as a ready-made

network, you can walk onto the trading floor

where there are a hundred Columbia alumni—

you have a network.” Graduates stay in touch

via the Alumni Web Site, the Young Alumni

Society or one of the 45 alumni clubs

spanning the globe.

Career Services

The Office of MBA Career Services organizes

information sessions, maintains a comprehensive

library and online site, hones career skills and

hosts hundreds of employers each year as they

conduct on-campus interviews and corporate

presentations. In a recent Business Week survey,

recruiters gave Columbia Business School

students A’s for their abilities as analysts, team

players and communicators. Columbia MBA

students, in turn, rated the School’s career

services efforts highly.

On the Web:

■ Top employers of graduates

■ Select recruiting companies

■ Employment reports

www. gsb.columbia.edu /recruiting

dana

“I went into my summer internship at Booz Allen

Hamilton full-force for eight weeks and loved it.

The fact that I got an offer totally changed my

life. Before Columbia I worked for a nonprofit

in California, and now I’m an associate at Booz

Allen’s New York office. As a generalist staffed

to pharmaceuticals, healthcare, operations, oil

or consumer goods, I’ll get a good idea of the

landscape. If I decide to stay in consulting, I

can align myself with an industry or function.”

—Jennifer Randle MBA ’06

DANA WILLIAMS MBA ’06 Background: Tax consultant for

PricewaterhouseCoopers.

Focus: Retail, combining marketing

and management.

Career: Management for Inditex,

a Spanish holding company with

worldwide retail locations.

“Coming to Columbia has changed the

way I viewed the world. I am moving to

Spain to work for Inditex, a Spanish

holding company that owns eight brands.

After management training in Madrid

and other regions of Spain and Europe,

I’ll get an assignment somewhere in the

world, most likely as a country manager.

This opportunity is an embodiment of the

whole experience of Columbia.”



THE NEW YORK

ADVANTAGE


The New York advantage offers a serious competitive edge

to Columbia Business School students, who can, just by

walking the streets of America’s most cosmopolitan city,

hear dozens of languages spoken, snack on exotic foods

and easily pick up foreign media for other perspectives on

global business developments.

Networking

New York is home to 3,000 multinational businesses, the

United Nations and the top echelon of virtually every business

in the world. And thousands of members of the School’s

alumni network live, work and play here. “The sheer number

of our alumni who are in New York makes it a tremendous

place to go to school,” says one student.

Playing

More than 20,000 restaurants and cafés. World-class opera

and dance. Scores of museums and galleries. Professional

sports teams. Great running trails close to campus. Broadway.

Off-Broadway. Off-Off Broadway. Movies you won’t see

anywhere else. Any kind of music you feel like hearing.

Hundreds of bookstores. And it’s all just a stroll, a subway

ride or a taxi trip away. “Some schools have a stellar

academic environment; others have a stellar community,”

says one student. “Columbia has it all.”

OPPORTUNITIES

On the Web:

■ Cultural resources

■ Maps: navigating the city

■ Local media

www. gsb.columbia.edu /newyork

michelleMICHELLE FERTIG MBA ’06 Background: Four years in management

consulting in Deloitte & Touche LLP ’s

Pittsburgh office.

Focus: General management.

Career: Strategy and operations,

specializing in healthcare and life

sciences, in Deloitte’s New York office.

“One Columbia initiative pairs MBA

students with entrepreneurs in developing

countries, and it enabled me to carry out a

lifelong dream. Another student and I went

to Kenya and then published a case study

about a microfranchise that combines a

not-for-profit parent organization and for-

profit franchised pharmacies. Hopefully

it will inspire others to use a similar

business model. The experience gave me

an outlet to share my newfound business

skills, travel to spectacular places and

meet amazing people.”

Balancing

“Half the Columbia experience isn’t the School—

it’s everything else,” says one first-year student.

“That’s one reason so many firms hire from here.

They know if you can multitask and flourish

in New York as well as go to school, you’re

ready for anything. It’s a fabulous cultural and

professional experience.”

That experience also extends to spouses

and partners of Business School students.

“It was really quite an opportunity for both of

us,” says one student whose wife is a musician.

“That’s the great advantage of New York. In

a smaller urban center, a spouse may have

to compromise a career. I can’t imagine

that coming to New York would ever be a

compromise for anyone.”



THE COLUMBIA GLOBAL

CONNECTION


INTERNATIONALColumbia Business School attracts people from around the

world—over one-third of students were born outside

the United States. More than three-quarters of full-time faculty

members specialize in international aspects of their research,

teaching and consulting interests. “An international faculty is a

real plus,” says one student. “You get a really good perspective.”

The Jerome A. Chazen Institute of International Business

The Chazen Institute is the crossroads of internationalism at the

Business School. Here faculty members, students, alumni and

administrators intersect and collaborate on myriad ideas and

issues related to advancing international business education

and research. Says academic director Charles Calomiris, “The

vision of the Chazen Institute—and of the

School itself—is to provide students with

the tools, diverse experiences and

background that will help make them

flexible problem solvers in the global

marketplace. There is no manual for

successful global business. We will know

that we have succeeded as teachers when our graduates display

the courage and self-reliance to formulate their own strategies

to steer their ships around the global economic course.”

The Chazen Institute funds cross-disciplinary and

cross-school research, oversees exchange programs, sponsors

conferences on such emerging issues as political risk and global

portfolio management, helps develop innovative teaching in

international business, hosts an international

career services conference and publishes the

Chazen Web Journal of International Business.

International Study Tours

Students learn firsthand about other business

cultures during one-week trips as they meet with

leading executives and government officials and

visit businesses, factories and cultural sites. Study

tours usually include 20–40 students and at least

one faculty member and one administrator—

and also provide an excellent opportunity for

having fun with friends and colleagues in a

stimulating environment.

The Chazen Language Program

This distinctive noncredit language program

is designed to enhance conversational fluency

in a language, with an emphasis on business

terminology. Classes include Chinese, French,

German, Italian, Japanese, Portuguese and

Spanish; other languages are taught on request.

MBA Exchange Programs

Columbia Business School students can spend

the third or fourth semester of their MBA studies

at one of 24 leading graduate management

institutions around the world.

On the Web:

■ Chazen MBA exchange programs

■ Home countries of international students

■ Top languages spoken by students

■ Students’ thoughts on the global advantage

■ More on the Chazen Institute

www. gsb.columbia.edu /international

luisLUIS CASTRO HUERGO MBA ’07 Background: Entrepreneur in Argentina.

Focus: Management and leadership.

Career goal: To work for a while in

financial services and then resume

entrepreneurship.

“For me New York is the center of the

world. There is so much going on, and

right now this is the best place to start

my career. Columbia brings together

amazing classmates from all walks of life,

and they really know about equity, banks,

entrepreneurship and private equity, and

through the Feldberg Fellowship I’ve

met different CEOs and members of the

Board. These are experiences I never

dreamed I would have.”

RECENT STUDY TOUR DESTINATIONS

Australia

Belgium

China

Ecuador

France

Germany

Great Britain

Hong Kong

India

Japan

Russia

Scandinavia

Columbia Business School’s international

perspective is underscored by the decision

of many graduates to pursue jobs that have

a significant international component or

that are based outside their home countries.


ADMISSIONSColumbia Business School looks for intellectually driven,

interesting people from diverse educational, economic,

social, ethnic and geographic backgrounds who have

something special to offer their classmates and communities.

Their common denominators are a record of achievement,

demonstrated leadership and the ability to work as

members of a team.

Requirements

■ Bachelor’s degree or equivalent from

an accredited institution

■ The Graduate Management Admission

Test (GMAT)

■ The Test of English as a Foreign Language,

for international applicants who did not

receive an undergraduate degree from an

institution whose primary language of

instruction is English

Value of a Columbia MBA

Earning a Columbia MBA degree has a superb return

on investment, whether measured by outside studies or the

decades-long rewards of a lifelong career. The School’s

financial aid program, which includes need-based

scholarships and federal, institutional and private low-interest

loans, recognizes students who demonstrate exceptional

academic achievement.

Fellowships Reward Excellence

Through the generosity of corporate, individual and foundation

donors, Columbia Business School provides exceptionally

gifted students with such full-tuition fellowships as the

Feldberg Fellowship, as well as a substantial number of

partial-tuition fellowships.

“At the School, Columbians find themselves part of a

nurturing yet challenging community that offers unique

opportunities for exposure and growth in a wide variety

of arenas—all set within the world’s business capital.

Clearly, this is the place to be!”

MeehanLINDA B. MEEHAN

Assistant Dean and Executive Director

of Admissions and Financial Aid

“In the living laboratory that only Columbia Business School

and New York City can provide, our women and men gain the

tools needed to become future business leaders of the world.

International Students by Place of BirthClass of 2007

Europe 32%

Asia/Pacific Rim 42%

Canada 5%

Africa/Middle East 6%

Latin America 15%


On the Web:

■ Requirements

■ Average test scores

■ Deadlines

■ Visiting the School

■ Applying online

■ Financial aid

■ Interviews

■ Fellowships

www. gsb.columbia.edu /admissions

Columbia Business School iii

Directory Office of MBA Admissions

www.gsb.columbia.edu/admissions

[email protected]

(212) 854-1961

(212) 662-6754 (fax)

Office of Financial Aid

www.gsb.columbia.edu/mba/tuition

[email protected]

(212) 854-4057

(212) 854-1809 (fax)

Chazen Institute of

International Business

www.gsb.columbia.edu/chazen

[email protected]

(212) 854-4750

(212) 222-9821 (fax)

Doctoral Program

www.gsb.columbia.edu/doctoral

[email protected]

(212) 854-2836

(212) 932-2359 (fax)

Executive Education Programs

www.gsb.columbia.edu/execed

[email protected]

(212) 854-3395

(212) 316-1473 (fax)

Executive MBA Programs

www.gsb.columbia.edu/emba

[email protected]

(212) 854-2211

(212) 854-8998 (fax)

Office of MBA Student Life

www.gsb.columbia.edu/students/life/

[email protected]

(212) 854-5563

(212) 854-2384 (fax)

Office of Student Academic Affairs

www.gsb.columbia.edu/students/

affairs

[email protected]

(212) 854-4191

(212) 678-0171 (fax)

Dual degrees ■ Architecture

MBA and MS in Urban Planning

■ Dental and Oral Surgery

MBA and DDS

■ Engineering and Applied Science:

• Earth Resources

• Financial Engineering

• Industrial Engineering

• Operations Research

MBA and MS

■ International and Public Affairs

MBA and MIA

■ Journalism

MBA and MS

■ Law

MBA and JD

■ Nursing

MBA and MS

■ Physicians and Surgeons

MBA and MD

■ Public Health

MBA and MPH

■ Social Work

MBA and MS in Social Work

■ Teachers College

MBA and EdD in Educational

Administration and

Higher Education


2The Columbia Business School Experience

The School, the city, the community.

The students, the faculty, the access.

The neighborhood, the curriculum, career options.

A snapshot of two years in the life of our MBAs.

The New York Advantage

For study, work, network and play, there

is no other city like it in the world.

The Columbia Global Connection

A U.S. business school with an international

perspective offers a world of options.

Admissions

Applying to Columbia Business School.

3438

30

Produced by: Office of Marketing and Communications, Columbia Business School

Design: Zehno Cross Media Communications

Text: Diana Pinckley, Gail Tyson

Photography: Steve Schneider, Don Hamerman, Jon Roemer, Porter Gifford, Stephane Cojot-Goldberg, John Diabase, Lynn Saville

Office of Admissions

Columbia University

Graduate School of Business

Uris Hall

3022 Broadway, Room 216

New York, NY 10027-6902

Phone: (212) 854 -1961

Fax: (212) 662-6754

Web: www.gsb.columbia.edu/mba

E-mail: [email protected]

Apply online via the Columbia

Business School Web site.

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