School_Guide_NYU_Stern_School_of_Business.pdf

7/25/2019 School_Guide_NYU_Stern_School_of_Business.pdf

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New York University,

Leonard N. Stern

School of Business


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The Clear Admit team has prepared this reference guide to NewYork Universitys Leonard N. Stern School of Business (Stern orNYU Stern) to assist you in your research of this program. Ourcomments are designed to be of use to individuals in all stages ofthe admissions process, providing information relevant to thosewho are determining whether to apply to this program, looking forin-depth information for a planned application to Stern, preparingfor an admissions interview or deciding whether to attend.

The guide is unique in that it not only addresses many aspects oflife as a Stern MBA student and alumnus, covering school-specicprograms in depth, but also compares Stern to other leadingbusiness schools across a range of criteria based on data from

the schools, the scholarly and popular presses, and Clear Admitsconversations with current MBA students, alumni, faculty andschool administrators. We have normalized the data offered byeach school to allow for easy side-by-side comparisons of multipleprograms. While this guide focuses on the experience of the full-time MBA program, it also includes a chapter on Sterns part-timeLangone MBA program.

Clear Admit is an educational counseling rm that guides aca-demic candidates through the complex process of applying to topMBA programs. We work with applicants from around the world tomaximize their success when applying to the best business schools.Please feel free to contact our ofce at [email protected] if you

would like to receive feedback on your MBA candidacy and learnmore about how best to position yourself during the applicationprocess.

About This Guide

MarkIII @ chasedream.com


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Table of Contents |

Contents

1 Introduction to NYU Stern 1Program Highlights . . . . . . . . . . . 1

Brief History of the MBA . . . . . . . . . 1

NYU Stern History . . . . . . . . . . . 1

Student Demographics . . . . . . . . . . 3

2 Academics 5

Academic Calendar . . . . . . . . . . . 5

Summer Start,Pre-Term & Orientation . . . . . . . . . . 5

Student Body . . . . . . . . . . . . . 6

Core Curriculum . . . . . . . . . . . . 6

Electives . . . . . . . . . . . . . . . 7

Specializations . . . . . . . . . . . . 8

Cross-Registration . . . . . . . . . . 8

Curriculum Comparison . . . . . . . . . 8

Grading System . . . . . . . . . . . . 9

Faculty . . . . . . . . . . . . . . 10

3 Special Programs 12

Study Abroad . . . . . . . . . . . . 12

Semester Study Abroad. . . . . . . . 12

Doing Business In... . . . . . . . . . 13

Short-Term Study Abroad . . . . . . . 13

Entrepreneurship . . . . . . . . . . . 13

4 Life at NYU Stern 14

Campus Spaces . . . . . . . . . . . 14Life in New York . . . . . . . . . . . 14

Greenwich Village . . . . . . . . . . 14

The City of New York . . . . . . . . . 15

Housing . . . . . . . . . . . . . 15

Clubs . . . . . . . . . . . . . . . 16

Conferences . . . . . . . . . . . . 17



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vi | Table of Contents

5 Life After NYU Stern 19Ofce of Career Development . . . . . . 19

Recruiting/Interview Procedures . . . . . 19

Career Statistics . . . . . . . . . . . 19

Industry . . . . . . . . . . . . . 20

Geography . . . . . . . . . . . . 20

Alumni Network . . . . . . . . . . . 23

6 Admissions 24

Visiting NYU Stern . . . . . . . . . . 24Application Requirements . . . . . . . . 24

Interviewing with NYU Stern . . . . . . 25

Deadlines . . . . . . . . . . . . . 25

The Consortium . . . . . . . . . . . 26

Dual Degree Programs . . . . . . . . . 26

7 Financing the NYU Stern MBA 28

Tuition & Expenses . . . . . . . . . . 28

Financial Aid . . . . . . . . . . . . 28

8 The Langone Part-Time MBA 30

Program Highlights . . . . . . . . . . 30

Student Body . . . . . . . . . . . . 30

Student Demographics . . . . . . . . 30

Academics . . . . . . . . . . . . . 30

Core Curriculum . . . . . . . . . . 30

Areas of Specialization . . . . . . . . 31

Class Structure . . . . . . . . . . . 31

Leaves of Absence . . . . . . . . . 31

Visiting Langone . . . . . . . . . . . 31

Applying to Langone. . . . . . . . . . 31

Deadlines . . . . . . . . . . . . . 32

9 Appendix 33



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Table of Contents |

Essay Topic Analysis . . . . . . . . . . 33Admissions Director Q&A . . . . . . . . 34

Career Services Director Q&A . . . . . . 37

10 Further Resources 40

Publications . . . . . . . . . . . . . 40

NYU Stern Research Centers & Institutes . . 40

Contact Information . . . . . . . . . . 40



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1 | Clear Admit School Guide: NYU Stern School of Business

1Introduction to NYU Stern

Program HighlightsFinance Orientation NYU Stern sends a higherpercentage of graduates into nancial ser-vices than any other leading business school.Students interested in entering the nanceindustry may take advantage of Sterns exten-sive nance-related academic resources andon-campus recruiting opportunities, as well asthe depth of Sterns alumni network within theindustry.

New York Location Sterns location in the cityof New York allows for easy access to many ofthe United States leading rms and executives.Moreover, with three-quarters of NYU Sternstudents choosing to remain in New York aftergraduation, the schools location provides imme-diate access to a broad network of Stern alumni.

Diverse Class Located in one of the worldsmost diverse cities, NYU Stern enrolls one of thehighest percentages of women and underrepre-sented minorities of any of the leading businessschools. The diversity of its student body helpsensure that Stern students are exposed to awide range of perspectives on pressing issues,both in and out of the classroom.

Part-Time Program NYU Sterns Langone Part-Time MBA program is one of the most respectedpart-time programs in the United States. Thehigh caliber of the Langone programs studentsand graduates enhances NYU Sterns reputationand its alumni network in New York and beyond.

Brief History of the MBAOriginally conceived as an extra year of under-graduate training in nance, economics andaccounting, business schools shifted around thestart of the 20thcentury to begin offering mana-gerial training for the U.S.s new industrializedcompanies (see Figure 1.1). Their prestige grewthroughout the Great Depression of the 1930s,when the research and training generated bybusiness schools was seen as a key to the coun-

trys economic recovery. The unprecedentedmanagerial needs of World War II further in-creased the demand for formal business educa-tion, and after the war, U.S. veterans used theirG.I. Bill funding to nance their business studiesand move into management jobs.

By the 1950s, the MBA was a two-year, post-graduate program that turned business into aprofessional discipline on par with medicine andlaw, and the degree was seen as a ticket to abetter, more secure career. The MBA continued

increasing in popularity, from 21,000 businessmanagement masters degrees awarded in the1969-1970 academic year to 139,000 in 2003-2004. This rise came in conjunction with agrowing demand for MBA graduates in the work-place and with rising starting salaries for thosegraduating from top schools.

Since the early days of the MBA, there havebeen conicts over the purpose of a businesseducation. Initially, tension between a classi-cal education in economics and more practicaltraining in business dominated the debate, andin some ways this remains the central conict.Today, the tension between theory and practicehas increasingly taken center stage, as businessschool professors have become more academicand employers demand broader skill sets fromMBA graduates. Most business schools, howev-er, have designed programs that offer studentsexposure to both theory and practice intern-ships, eld work and school-based consultingprograms are widespread. The increase in aver-age full-time work experience among enteringMBA students, as well as the growth in Execu-tive MBA programs, ensures that classroomtheories are continually tested against real worldexperiences. Regardless of these tensions, theMBA remains one of the most popular gradu-ate degrees in the United States and around theworld.

NYU Stern HistoryNoting the rapid inux of immigrants and theincreasingly complex demands of doing business



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Introduction to NYU Stern |

Business schools are established in the U.S. to

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 theseelds.

Association of Collegiate Schools of Business isfounded in 1916 to provide resources for the grow-ing number of U.S. business schools, which by1919 enroll over 36,000 students.

On-campus recruiting by industry rises. Curricula begin to include policy issues.

The research and training conducted by businessschools during the Great Depression is seen as keyto the U.S.s economic revival, signicantly raisingpublic opinion of business schools.

World War II sharply increases demand for trainedmanagers, and WWII veterans return to U.S. busi-ness schools in droves.

Most professors now hold Ph.D.s in business, andacademic research begins to form the basis ofbusiness school curricula.

Strategic decision making and quantitative andstatistical analyses enter many curricula.

MBA starting salaries rise 5-10% per year at someschools, even during stagation.

Entrepreneurship enters most curricula.

Business schools focus on leadership, ethics andinterpersonal skills, altering course content and in-creasing classroom emphasis on working in teams.

High-prole corporate scandals prompt calls forgreater ethics education in business schools.

By 2004, 447,000 students are enrolled in U.S.business programs.

MBA Degree

The NYU School of Commerce, Accounts and Fi-nance is established in 1900.

In 1916, the NYU Graduate School of Businessopens its doors in the Wall Street district.

By 1936, women make up 15% of the businessschools student body.

Students from almost every state and 36 countriesare enrolled in the business school.

In 1988, Leonard N. Stern donates $30 million tothe business school, which is renamed in his honor.

A donation from Dr. Henry Kaufman in 1998enables signicant renovations across the Sterncampus.

Sterns centennial fundraising campaign raises over$100 million, doubling the schools endowment.

Alumnus John Paulson donates $20 million to NYUStern.

Peter Blair Henry becomes the dean of NYU Stern,

replacing Tom Cooley.

NYU Stern School of Business

1880s

1900s

1910s

1920s

1930s

1940s

1950s

1970s

1980s

1990s

2000s

2010s

Figure 1.1 Notable Developments in MBA History



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in the city of New York, the New York State So-ciety for Public Accountants teamed up with NewYork University in 1900 to offer much-neededbusiness training to the citys young profes-sionals. Out of this partnership grew the NYUSchool of Commerce, Accounts and Finance,which was located near Washington Square andserved as an undergraduate institution for stu-

dents preparing for careers in accounting.

Not long after the schools founding, the citysgraduate-level students sought to be includedin the business school as well, leading NYU tobegin offering graduate business classes at asatellite location near Wall Street prior to open-ing a formal Graduate School of Business Ad-ministration near Wall Street in 1916.

Unusual among most long-established businessprograms, NYU welcomed female students fromthe start and hired its rst female faculty mem-ber in 1913. By 1936, women made up 15 per-cent of the student body a sizeable number,considering that the graduate and undergradu-ate schools boasted a combined enrollmentof over 10,000 students. As longtime facultymember and undergraduate business deanAbraham Gitlow explained, by the 1940s Sternwas a huge educational factory, preparing NewYorkers en massefor the rapidly developingpostWorld War II business landscape.

By the end of the 1950s, NYU counted business

students from nearly every state and 36 foreigncountries. The school strengthened its interna-tional business program throughout the 1960s;the 1970s brought further expansion, both interms of new buildings and of a growing nation-al reputation.

In 1988, an impressive $30 million gift fromLeonard N. Stern, who earned both his under-graduate degree and MBA from the school, ledthe New York University Board of Trustees tounite the undergraduate and graduate businessschools under the name of the Leonard N. Stern

School of Business. Mr. Stern made his fortuneas a land developer with the Hartz Group, Inc.,of which he still serves as chairman and CEO.In 1998, another generous alumni donation this time from Dr. Henry Kaufman, a well-knowneconomist and Chairman Emeritus of the NYUStern Board of Overseers enabled renovationsto take place across campus that signicantlyupgraded student living facilities.

At the beginning of the new millenium, Sterns

centennial capital campaign raised $100 mil-lion, a sum that enabled the school to doubleits endowment and supplement the schoolsscholarship resources. Finally, in 2009, alumnusJohn Paulson, founder and chairman of hedgefund Paulson & Co., made a $20 million dona-tion to NYU Stern, which was used to endowtwo faculty chairs, increase scholarship aid for

undergraduate students and fund parts of theConcourse Project, a signicant campus renova-tion.

Student DemographicsNYU Sterns entering classes typically includestudents from a wide range of academic, per-sonal and professional backgrounds. With 392students in its Class of 2012, Stern is a me-dium-sized institution relative to its peer MBAprograms (see Figure 1.2). Though it is signi-

cantly larger than Yale SOM and Simon, two ofits regional peers, it is more than a third smallerthan cross-town rival Columbia Business School.

In the Stern Class of 2012, the entering stu-dents scored an average of 715 on the GMAT,with the middle 80% clustered in the 660-760range. As undergraduates, the class earned anaverage GPA of 3.42, with 80% of all studentsearning between a 3.1 and a 3.8. While theschool clearly demands academic excellenceof its students, as evidenced by its high meanGMAT score, its GPA gures indicate that it is

more willing than some peer schools to forgiveweaker undergraduate proles.

During their undergraduate years, members ofthe Class of 2012 primarily studied traditional

Figure 1.2 Size of Incoming Class



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Introduction to NYU Stern |

pre-MBA elds such as business, economics,science and engineering, though fully 35% ofstudents chose to study the arts, humanities or

social sciences at the undergraduate level, add-ing to the breadth of academic backgrounds inthe class (see Figure 1.3). The NYU Stern Classof 2012 had an average of 4.7 years of full-timework experience prior to matriculation.

Unlike medical and law schools, most businessschools struggle to attract and enroll women incomparable numbers to men. In fact, womenmake up only one-third of the class at most ofthe leading MBA programs. Stern has histori-cally met with more success than its peers inmeeting the challenge of female recruitment;however, with women comprising 34% of SternsClass of 2012, the school now falls into themiddle of the pack due to its peer schools hav-ing made comparable gains (see Figure 1.4).

This 34% is a respectable number among busi-ness schools, though, and part of Sterns suc-cess may be due to its willingness to consider

slightly younger applicants; many women, afterall, seek to balance career and family by pursu-ing an MBA earlier in their professional lives.

Because exposure to varied cultural and per-sonal perspectives is valuable preparation forthe global world of business, NYU Stern andother business schools seek to enroll students ofmany nationalities and racial and ethnic back-grounds. Perhaps due in part to its location inNew York, one of the most diverse cities in theworld, Stern has been particularly successful atenrolling a diverse student body.

A nal indicator of diversity at American busi-ness schools is the number of U.S. citizens andpermanent residents who identify as membersof minority racial or ethnic groups, terms thatusually refer to students of African-American,Hispanic/Latino, Asian-American and NativeAmerican descent. NYU Stern reports that 29%of students in its Class of 2012 identify as mem-bers of a U.S. minority group, a gure roughlyon par with those at peer schools (see Figure1.5). Historically, roughly 15% of that total has

been Asian-American.Roughly 38% of the Stern Class of 2012 consistsof international or dual citizens. However, sincedual citizens are not grouped together withinternational students at any of the other lead-ing MBA programs, it is unfortunately impossibleto make a meaningful comparison between NYUSterns international student population andthose of its peers.

Figure 1.4Gender Distribution

Figure 1.5 Minority Students

Figure 1.3Undergraduate Majors

Engineering,Math & Science

Business &Commerce

Economics

SocialSciences

Humanities, Arts& Other



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2Academics

The NYU Stern Full-Time MBA program is de-signed to be completed in two academic years,with students pursuing an internship in thesummer between their rst and second years.Students enrolled in the program are requiredto complete 60 credits of coursework, which aresplit between required courses from the corecurriculum and elective courses of the studentschoosing.

Academic CalendarSterns academic calendar is organized accord-ing to the traditional U.S. two-semester model.Classes typically begin in the rst week ofSeptember and continue until the Fall Semesternal exams, which take place in mid-December.At that point, students in NYU Sterns part-timeLangone program embark on a month of WinterIntensive classes, as do many other studentsat NYU; full-time MBA students, however, enjoya six-week winter break lasting until the end ofJanuary.

All Stern students begin their Spring Semesterclasses at the end of January and nish the yearin mid-May. Commencement for graduating stu-dents takes place immediately after nal exams.Both Fall and Spring Semesters are broken upby week-long recesses: a Thanksgiving break inlate November and a spring break in mid-March(see Figure 2.1).

Summer Start,Pre-Term & OrientationMany schools offer pre-term and orientationprograms for rst-year students prior to thestart of the academic year. While orienta-tions are usually required three- or four-dayprograms focused on meeting classmates andbecoming acclimated to the campus, pre-termprograms include an academic component,which may be anything from placement exams

to leadership seminars. Orientations are alwaysmandatory, though pre-term programs may beoptional, depending on the nature of the activi-ties taking place.

NYU Stern runs a distinctive program calledSummer Start, which allows a selected groupof entering students to spend the summer inNew York getting a head start on their MBAcoursework. When considering students forSummer Start, the admissions committee looksfor candidates who have strong communica-tion and leadership skills, but could nonethelessbenet from extra preparation before beginningthe MBA. Some Summer Start students havebeen out of school longer than most of their newclassmates, while others have worked in lesstraditional pre-MBA professions.

Admission to Summer Start is by invitation only;there is no way to apply directly to the program.Because the admissions ofce looks to ll theSummer Start program with candidates who areenthusiastic about Stern and the programs mis-sion, candidates invited to interview for Summer

Start have an opportunity to decline the invita-tion. However, once a student has interviewedwith Summer Start and received a formal offerof admission to the program, participation ismandatory.

Summer Start begins in mid-July and runs forsix weeks, earning participants six of the 60credits needed for graduation. All enrolleescomplete the core course Statistics & Data Anal-ysis over the summer, and most also enroll in

Fall Semester Classes begin September 6, 2011

Thanksgiving break November 2127, 2011 Last day of classes December 15, 2011 Exam period December 1622, 2011Spring Semester Classes begin January 30, 2012 Spring break March 612, 2012 Last day of classes May 7, 2012 Exam period May 915, 2012Commencement May 1617, 2012

Figure 2.1Academic Calendar 2011-2012



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Academics |

Management Communication as well as Collabo-ration, Conict & Negotiation. Some students inthe program pursue coursework to boost theirquantitative knowledge or their business writingskills. Summer Start students can also take ad-vantage of a variety of social and cultural eventsto introduce students to each other and to thecity.

In late August, Stern brings all entering studentsto campus for two-week Pre-Term Orientation.During the Pre-Term Orientation, students makeconnections within the class, explore New York,and partici-pate in team-building andcase-analysisexercises aswell as unitson manage-ment com-municationand ethics. Other typical orientation activi-ties include career development programming,numerous receptions and social gatherings, acruise around Manhattan and a trip to a NewYork sports game.

Student BodyNYU Sterns entering class is divided into sixblocks of 60 to 70 people apiece (see Figure2.2). The blocks are further divided into studygroups consisting of ve or six students each.However, working with these groups is onlymandatory during core courses. Once studentsbegin taking electives, they are free to choose

their own study groups for each course.

Each block takes ve of its nine rst-year corecourses together. The blocks also form animportant foundation for Sterns school-wideactivities and socializing. The students in eachblock elect three leaders, at least one of whommust be an international student; these three

leaders organize social and community activi-ties, manage the blocks budget, and representits concerns to the Stern Student Corporation(SCorp), the schools student government. Eachblock receives a small grant from the MBA Stu-dent Activities Ofce to promote group activi-ties, including volunteer days, pizza parties,happy hours and other social events.

Core CurriculumAs at all leading business schools, Stern stu-

dents must complete a set of core courses dur-ing their rst year in the MBA program. Thiscore ensures that all students graduate withexposure to the fundamental elds of busi-

ness and anunderstand-ing of howthese eldsinteract. AtStern, allMBA studentsare encour-aged to

complete 28.5 credits of coursework as part ofthe core curriculum. These credits are dividedamong 10 courses; nine are taken during therst year, while one, the 1.5-credit ProfessionalResponsibility capstone course, is completed inthe second year.

During their rst year, all students without waiv-ers are required to take Financial Accounting &Reporting and Statistics & Data Analysis, thelatter of which may be completed during Sum-mer Start. Each student must also choose at

least ve courses from a menu of seven coresubjects, though they are strongly encouragedto take all seven (see Figure 2.3). Studentsalso begin taking electives during Spring Se-mester of their rst year.

As at most schools that divide students intosmaller subgroups, Stern students take mostof their fall courses with the other members oftheir block. By having students take the major-ity of their rst-semester classes with the same

The core allows for signicantexibility but also requires thateach student explore a varietyof disciplines, which are quitehelpful for narrowing in on afocus. NYU Stern 10

400

Students per class

6

Blocks per class

60-70

Students per block

5-6

Students per study group

Figure 2.2Structure of the Student Body

One of the big things as a rstyear is pre-term. There we do

a lot of mock stressful situationswith our study group, so we can

work out a lot of personalityquirks. NYU Stern 10



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group of 60 to 70 people, the administration

hopes to strengthen the bonds among blockmembers and provide a built-in academic sup-port network for all rst-year students.

Incoming students with extensive academic orprofessional experience in a given subject maywaive any core course, excepting ProfessionalResponsibility, by demonstrating a high level ofprociency in the subject. This may be doneby sitting for a prociency exam, certifying thecompletion of an undergraduate major or mas-ters degree in the eld, or displaying a CPAlicense, though the specic requirements vary

by course. To ensure they earn the 60 creditsneeded to graduate, students who succeed inwaiving a core course must replace that coursewith an elective of their choosing.

In addition to these waivers, the school has alsotaken the unusual step of allowing students tosimply opt out of up to two menu core courseswithout a formal waiver. Because these coursesserve as prerequisites for many electives, how-ever, the administration discourages this prac-tice in most cases, recommending that studentsopt out of a core course only after careful con-sideration of their career goals and their plannedelective path.

ElectivesStern offers more than 150 elective courseseach year to its full-time, part-time and Execu-tive MBA students. In parallel with their latercore coursework, Stern students are free either

to explore a wide array of subjects in manage-ment or to tailor their studies to their specicgoals. MBA students are also permitted to takeup to ve elective courses from other schoolswithin New York University, including the TischSchool of the Arts and the Robert F. WagnerGraduate School of Public Service.

Enrollment in Sterns elective courses gener-ally ranges from 30 to 70 students. As is thecase at any school, some elective courses andinstructors are so popular that student demandexceeds available seats. To make the registra-tion processas fair aspossible,Stern usesa lotterysystem tomanage theelective en-rollment pro-cess. Duringthe lotterysubmissionperiod beforeeach term, students submit a ranked list of elec-tive sections in which they wish to enroll, as wellas an alternate for each. The ranking periodlasts three weeks, during which time studentsare free to make as many changes to their pro-posed schedules as they wish.

A computer application then groups studentsinto cohort batches based on when they areexpected to graduate, giving priority to studentsclosest to completing their degrees. The sys-tem rst attempts to enroll all students in theirtop-ranked courses, then in their second-rankedcourses, and so on; those who are closed out oftheir top choices are instead enrolled in the al-ternate suggestion they provided, and are givenpriority when assignments to second-rankedcourses are being made.

At the end of the lottery process, students are

notied of their tentative course schedules andare permitted to add or drop sections at will, orto add themselves to the waitlist if they wereclosed out of one of their preferred courses.While the lottery process is fairly straightfor-ward, the Stern Graduate Ofce of Records andRegistration provides students with a set of lot-tery hints, including a list of courses that are solarge that they seldom exceed capacity, to helpthem strategize as they rank courses.

I was immediately attracted toSterns curriculum and I knewit was what I was looking for.The impact it has had so faron my experience has been

fundamental. Now that I am

in the process of selecting myelective classes for my secondyear, I feel very well-prepared.

NYU Stern 11

Required Core Courses Financial Accounting & Reporting* Professional Responsibility (second-year course) Statistics & Data Analysis*

Menu Core Courses(choose 5-7)

Competitive Advantage from Operations* Firms and Markets* Foundations of Finance* The Global Economy Leadership in Organizations Marketing* Strategy*

* offered in Fall Semester of the rst year offered in Spring Semester of the rst year

Figure 2.3NYU Stern Core Curriculum



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Academics |

SpecializationsThe Stern MBA is a general management de-gree, but students may plan out their electivestudies to complete up to three specializa-tions of their choosing. These specializationsare not required, but may be used to enhanceones personal knowledge in a specic eld or

to highlight an area of expertise on ones re-sume. Students declare their specializations viaan online Stern database and may change themat any point until they submit their petitions forgraduation.

Stern offers more than 20 specializations inelds ranging from Leadership and Change Man-agement to Corporate Finance (see Figure 2.4).In general, each specialization requires ninecredits, or three to ve courses, for comple-tion, though some may impose additional courserequirements. To give an example, students

who plan to specialize in Entertainment, Me-dia and Technology (EMT) must register for a1.5-credit course called Entertainment & MediaIndustries early in their Stern careers, since thiscourse provides the foundation for later studyin the eld. Upon completing this rst course,EMT students then choose 7.5 additional creditsof coursework from the more than 15 graduate-level courses afliated with the specialization.Meanwhile, the Financial Instruments & Marketsspecialization requires students to complete

nine credits from selected Finance departmentcourses, six of which must be upper-level MBAcourses.

Sterns specializations are organized in a man-ner similar to that of the concentrations atschools such as Chicago Booth. At both schools,students can choose whether to pursue an area

of focus, and each concentration or specializa-tion typically requires just three courses tocomplete. This stands in contrast to peer schoolWharton, where all students are required todeclare a major and complete a sequence of veor more specialized courses.

Cross-RegistrationIn addition to the elective courses offered byStern faculty, MBA students may also cross-register for up to 15 credits, or ve electivecourses, at other schools within NYU. For a

non-Stern course to count toward the gradua-tion requirements, it must be at the masterslevel or higher, related to business or manage-ment, and clearly relevant to the MBA. Stu-dents should note that, although Stern encour-ages its MBA candidates to gain prociency in aforeign language, language courses are not eli-gible for cross-registration credit at Stern. A listof courses pre-approved for cross-registrationis available through Sterns advising website,and students may petition for approval of otherNYU courses that they believe meet the schoolsacademic requirements. All grades earned in

cross-registered courses are listed on the Sterntranscript and are included in the GPA.

Curriculum ComparisonWhile each of the leading MBA programs or-ganizes its program around a core curriculum,the structure and exibility of these cores varysignicantly. By comparing the number of corecourses a school requires to that schools overallgraduation requirements, prospective studentscan determine what proportion of their studies

will be structured by the school and what pro-portion might be spent pursuing topics of theirown choice. This exibility may be enhanced bythe possibility of waiving core courses or sub-stituting them for electives; courses that can bewaived in this manner are considered condition-ally required.

At Stern, the only truly mandatory course is the1.5-credit Professional Responsibility seminartaken in the second year. All other core courses

Accounting Banking Business Analytics Corporate Finance Economics Entertainment, Media and Technology

Entrepreneurship and Innovation Finance Financial Instruments and Markets Financial Systems and Analytics Global Business Law and Business Leadership and Change Management Luxury Marketing Management Management of Technology and Operations Marketing Product Management

Quantitative Finance Social Innovation and Impact Strategy Supply Chain Management and Global Sourcing

Figure 2.4Specializations at NYU Stern



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are conditionally required, meaning that stu-dents may waive them if they can prove pro-ciency in the subject (see Figure 2.5).

Moreover, in providing a menu of core require-ments from which students can pick and choose,Stern effectively allows its students to opt out of

one or two core courses at will. This is an un-usual policy, but it has its analogs in the exibleChicago Booth core curriculum and in the Con-tent Areas in Whartons new core curriculum. AtWharton, all students must fulll certain distri-butional requirements, known as Content Areas,and are given a choice between two or threecourses that fulll each requirement. ChicagoBooths Functions, Management, and BusinessEnvironment requirement, meanwhile, allowsstudents to choose one course each from six outof seven possible academic categories, a policythat provides students with signicant exibility

in tailoring their academic schedules. Becauseof these schools exible approaches to the corecurriculum, rst-year students at NYU Stern,Chicago Booth and Wharton can begin custom-izing their courses of study from the very begin-ning of the program.

This approach stands in contrast to the waiverphilosophy at Columbia and many of Sternsother peer schools. Columbia students whowish to waive a core course must sit for an

exemption exam, equivalent to a nal exam,for each course they wish to waive, regardlessof prior coursework or experience. Columbiaspolicy of offering waivers in every core subjectmeans that a Columbia student with amplebackground could place out of almost all corecourses, though students from non-traditional

backgrounds would likely be required to com-plete the entire core. Put another way, a stu-dent entering business school with an extensiveacademic background in business might be ableto exploit Columbias exibility more fully thanthe average student, whereas the type of ex-ibility afforded by NYU Stern is more accessibleto someone with less formal business educationand therefore less ability to test out of speciccourses or disciplines.

Grading SystemNYU Stern grades are awarded according toa standard American letter system, in whichgrades run from A through F and are tied to anumerical grade point average (GPA) scale witha 4.0 corresponding to an A, a 3.0 to a B, andso on. Although all grades above a D, or 1.0,are considered passing, students with a cumula-tive GPA of below 2.3 are placed on academicprobation. To graduate from Stern, studentsmust maintain a minimum GPA of 2.5.

Note: Mandatory classes are required for graduation and cannot be waived under any circumstances. Conditionally required courses are partof the core curriculum but may be waived by exam or credential or substituted with other coursework.

Figure 2.5Course Type as Percentage of Credits Required to Graduate



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Academics |

Course grades depend on the content and struc-ture of the course, as well as on the professorsown approach to the material. Grades are oftenbased on class participation, exams, case analy-ses, problem sets or other individual and groupprojects. The school mandates that no morethan 35 percent of the students in each corecourse section can receive a grade of A in the

course, a policy put in place to ensure consis-tent grading across rst-year blocks.

FacultyThe NYU Stern faculty consists of over 200professors across its academic departments andprograms. In keeping with Sterns reputation asa nance-oriented program, the Finance depart-ment is the largest at the school, employingover 40 professors. Other sizeable departmentsinclude Information, Operations & Management

Sciences and Economics, both of which employapproximately 35 professors apiece. A fewof the programs notable teachers and facultymembers are proled below.

Adam BrandenburgerAs the 2006 NYU Stern MBA Professor of theYear and the 2008 recipient of Sterns Excel-lence in Teaching Award, Brandenburger is aclear favorite of the Stern community. A well-known game theorist in the schools economicsdepartment,Branden-burger co-authored thebook Co-opetitionwith BarryNalebuff in 1996, which has been translated intomore than ten languages; he has also writtenextensively on all aspects of game theory. Be-fore coming to Stern, Brandenburger taught atHarvard Business School for sixteen years.

Aswath Damodaran

The chair of Sterns Finance Department, As-wath Damodaran is a seven-time winner of theStern School of Business Excellence in Teach-ing Award. In addition to his reputation as aneffective educator, Damodaran is also an expertin valuation, corporate nance, and investmentmanagement. He has written ve books andpublished numerous articles in theJournal ofFinancial and Quantitative Analysis, the Reviewof Financial Studies, and other top publications,though he notes dryly that I am sure the list of

people whohave readthese articlesis a shortone. For-mer studentsreport thatwhile just

400 peopleare enrolledin his classesin any givensemester,more than4,000 people

a week tune in to watch his online lectures.His research interests include information andprices, real estate, and valuation. He currentlyteaches Corporate Finance and Equity Instru-ments & Markets at Stern.

Durairaj MaheswaranDurairaj Maheswaran, the Paganelli Bull Profes-sor of Marketing at Stern, teaches courses inmarketing concepts and consumer behavior. Healso currently holds the Stern Research Profes-sorship in Marketing. From 1997 to 2001, heserved as Sterns NEC Faculty Research Fellowand was recognized in 1993 with the Excellencein Teaching Award. TheJournal of ConsumerResearch, Journal of Consumer Psychology,Journal of Marketing Research and Journalof Personality and Social Psychologyhave all

published Professor Maheswarans research oncross-cultural consumer behavior, internationalmarketing and attitude change. He has alsoserved as the president of the Society for Con-sumer Psychology and the editor of theJournalof Consumer Psychology.

Elizabeth Wolfe MorrisonAfter earning her Ph.D. in Organizational Be-havior from Kellogg in 1990, Professor ElizabethWolfe Morrison jumped straight into a teachingcareer at NYU Stern. From 2001 to 2005 shewas chair of Sterns Management and Organiza-

tions Department. Currently, as the ITT HaroldGeneen Professor in Creative Management,Professor Morrison teaches the courses Leader-ship in Organizations, Collaboration, Conict& Negotiation, and Managing People & Teams.Professor Morrisons research focuses on em-ployees willingness to take initiative on behalfof their own interests as well as the interests oftheir companies. More recently, she has delvedinto the ease of communication in a work en-vironment, examining the factors that affect

The professors are truly leadersin their elds and yet theycouldnt be more accessible.

NYU Stern 09

Prof. Damodaran... teachesCorporate Finance, in the springsemester of the rst year. Itis just unbelievable. I have nowords to really describe howinteresting the class is, andhow fun nance is the way he

teaches it. He was able to teachme how to see corporate nanceand its role in the world today ina whole different way.

NYU Stern 11



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whether employees feel comfortable pointingout problems. Her articles have been publishedin several prestigious journals, including the

Academy of Management Journal, theAcademyof Management Review and theJournal of Ap-plied Psychology.



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Special Programs |

3Special Programs

Study AbroadSemester Study AbroadStudents seeking long-term immersion in aforeign business environment may be interestedin exploring NYU Sterns semester-long studyabroad opportunities. Stern is a member of thePartnership in International Management (PIM),which gives the schools MBA students accessto exchange opportunities at over 40 businessschools in 30 different countries (see Figure

3.1).

The study abroad application process, whichtakes place between mid-February and earlyMarch, consists of a written application and apersonal interview. Students are asked to ranktheir top three study abroad choices and arenotied by early April if they have been success-fully matched with a program.

To help students strategically plan their ap-plications, Stern provides a spreadsheet of theresults of the previous years application pro-cess. The number of spaces available in each

program varies greatly; just two to four spacesare offered per year at popular destinations in

Argentina: IAE Business School, UniversidadAustral

Australia: Australian Graduate School of Manage-ment; Melbourne Business School, University ofMelbourne

Austria: Wirtschaftsuniversitt Wien Belgium: Universit catholique de Louvain Brazil: Escola de Administrao de Empresas de

So Paulo/Fundao Getulio Vargas Canada: Desautels Faculty of Management, McGill

University; Schulich School of Business, YorkUniversity

Chile: Pontica Universidad Catlica de Chile China: China Europe International Business School

(CEIBS); Fudan University School of Management;Guanghua School of Management, Peking Univer-sity; Tsinghua University School of Economics andManagement

Costa Rica: INCAE Business School Denmark: Copenhagen Business School France: HEC Paris

Germany: Faculty of Management, Economics andSocial Sciences, Universitt zu Kln; MannheimBusiness School

India: Indian Institute of Management Ahmed-abad; Indian Institute of Management Bangalore;Indian School of Business

Ireland: Michael Smurt School of Business,University College Dublin

Israel: The Leon Recanati Graduate School of Busi-ness Administration, Tel Aviv University

Italy: SDA Bocconi School of Management Japan: Graduate School of Business and Com-

merce, Keio University; Graduate School of Inter-national Management, International University ofJapan; Graduate School of International Relations,International University of Japan

Mexico: EGADE Business School, Instituto Tec-nolgico y de Estudios Superiores de Monterrey;

Instituto Tecnolgico Autnomo de Mxico Netherlands: Rotterdam School of Management,

Erasmus Universiteit Rotterdam Norway: Norwegian School of Economics and Busi-

ness Administration Singapore: Nanyang Business School; NUS Busi-

ness School, National University of Singapore South Africa: Wits Business School, University of

the Witwatersrand South Korea: Yonsei University College of Business

and Economics Spain: ESADE Business School, Universitat Ramon

Llull; IE Business School; IESE Business School,

Universidad de Navarra Sweden: Stockholm School of Economics Switzerland: Universitt St.Gallen Thailand: Thammasat University Faculty of Com-

merce and Accountancy United Kingdom: London Business School; London

School of Economics and Political Science; Man-chester Business School

Venezuela: Instituto de Estudios Superiores deAdministracin

Figure 3.1 International Exchange Partners



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Australia, India and Europe, but many otherpartner schools open up slots based on howmany of their students plan to spend a termstudying at NYU. The statistics show that whileit may be difcult to capture a seat in the mostpopular programs, there is more than enoughcapacity to accommodate exible Stern studentswho wish to spend a semester abroad.

Doing Business In...For students interested in gaining internationalexposure, Sterns one- and two-week DoingBusiness In... (DBI) programs offer an appeal-ing short-term alternative to spending an en-tire semester abroad. The programs usuallytravel to between four and six locations eachsemester; past destinations include Argentina,Australia, China, Hungary, Italy and India. DBItrips take place outside the normal academiccalendar, usually between semesters or during

Spring Break, making it easy for students to tthe program into their schedules at some pointduring the MBA.

Admission is determined by lottery. Each DBIprogram includes one pre-trip class session, fol-lowed by four to ten full days of scheduled activ-ities in the host country. Classes are taught bythe faculty of the host university; these facultymembers also award the nal project or papergrades for the course. Successful completionof the course is worth 1.5 or 3 credits towardgraduation and can be counted towards a spe-

cialization in Global Business.Short-Term Study AbroadIn addition to the DBI programs, NYU Sternalso offers students the unusual opportunity tostudy abroad for one to six weeks with one offour partner universities in Argentina, Denmark,Germany or South Korea. Three of these short-term courses take place in early to mid-May,making it possible to arrange a summer intern-ship start date around completion of the course;the Denmark program, however, takes place inlate June and early July. The one-, two- and

six-week programs can earn students between1.5 and 6 credits toward graduation. Althoughmany MBA programs allow students to studyabroad for a full semester or to travel abroadas part of a course, few provide summer ex-

changes through which students can earn credittoward graduation.

EntrepreneurshipThe NYU Stern Entrepreneurs Challenge, spon-sored by the Berkley Center for Entrepreneurial

Studies and open to all members of the greaterNYU community, is among the largest busi-ness plan competitions in the U.S. Beginning inSeptember, the challenge spans eight monthsand includes workshops, coaching sessions andnetworking events to help participants renetheir business plans. Teams must include atleast one current NYU student. All participat-ing teams receive feedback from experiencedindustry professionals throughout the competi-tion, and have ample opportunity to test theirbusiness ideas and practice their entrepreneurialskills in a risk-free environment.

The challenge, which drew an unprecedented211 teams in 2011, consists of three sepa-rate competitions: the NYU Stern New VentureCompetition; the NYU Stern Social VentureCompetition; and, new in 2011, the NYU Tech-nology Venture Competition, divided into LifeSciences and IT & Clean Tech tracks. Winnersof the three competitions are awarded a com-bined $250,000 in seed money and in-kindsupport. In addition to valuable funding andcontinual guidance throughout the competition,the winning teams receive access to a virtual

pod in Sterns new-venture incubator, wherethey will benet from $10,000 inpro bonolegaland consulting support, an extensive mentornetwork, ongoing technical assistance, educa-tional programs and other university-sponsoredresources.

The three ventures that won the 2011 Entrepre-neurs Challenge were CourseHorse, a city-widedirectory of recreational courses and workshopsthat took top prize in the New Venture Competi-tion; See & Be Seen, a Social Venture Compe-

tition entrant that distributes reective back-packs to improve road safety in East Africa; andAnzenna, a medical devices venture that tookhome the rst grand prize of the TechnologyVenture Competition.



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Life at NYU Stern |

4Life at NYU Stern

Campus SpacesNew York Universitys Stern School of Businessis located in the Kaufman Management Cen-ter (KMC), situated near the center of NYUsGreenwich Village campus. This 10-story facilityhouses MBA classrooms, student lounges andstudy areas, and an amphitheater for large as-semblies, as well as faculty and administrativeofces. KMCs sixth oor is a major center ofMBA activity, with the Admissions, Financial Aid,Student Affairs and Academic Advising ofces all

situated on this level; the Ofce of Career De-velopment, another major point of interest forMBA students, is just one oor down. Sternsundergraduate program is located in nearbyTisch Hall, which is connected to the KaufmanManagement Center by a rst-oor walkway.

All of KMCs classrooms and study areas areequipped with wireless Internet access, andthere are also computer stations for studentuse on several oors. Stern students can re-serve individual study cubicles or group meetingrooms through an online system, but many pre-fer to congregate spontaneously in more casuallounge areas. The most popular of these is theSosnoff Lounge Grad Caf, located on KMCsrst oor, which sells grab-and-go sandwiches,salads, coffee and other drinks from Mondaythrough Saturday starting at 8:00 a.m. MBAstudents who have a job interview scheduledbetween classes, or who plan on hitting the gymor going out on the town after a day of class,can take advantage of the lockers located on sixof the buildings oors. The Kaufman Manage-ment Center is easily accessible by bus or sub-

way, and students traveling by car can receivediscounted parking at several nearby garageswith validation or an NYU student ID.

The Kaufman Management Center is just twoblocks away from the NYU Coles Sports Cen-ter, which offers tness and weight rooms, anOlympic-size pool, a track, and courts for tennis,racquetball and squash. The Palladium, anothertness center, is fteen minutes away from KMCby foot, and features a broader array of cardio-

vascular options, another swimming pool anda 30-foot rock-climbing wall. Access to bothof these facilities is free to NYU students. Justacross the street from KMC, Washington SquareParks nine acres of green space offer MBA stu-dents a welcome respite from the downtown citybustle. Home to the iconic Washington SquareArch, among other historical monuments, thepark hosts free lm screenings and concertsthroughout the summer.

Life in New YorkGreenwich VillageAlthough New York University also owns facili-ties in the Bronx and new residences in UnionSquare, the heart of the university is its Green-wich Village campus, where NYU Stern is lo-cated. Greenwich Village, most often called just

the Village, is a place of great historical andartistic signicance. Venerated folk songwriterBob Dylanwrote many

of his songswhile residingin the neigh-borhood; itwas also formany yearsthe homeof the Beatmovement,best remembered today for the writings of Al-len Ginsberg and Jack Kerouac. Today, mostcutting-edge artists have migrated south intothe up-and-coming neighborhoods of Brooklyn,and the Village boasts some of New Yorks high-est rents and biggest names. Movie star UmaThurman, for example, lives within a few blocksof NYU.

The area is still culturally vibrant, offeringoutstanding theater (the Blue Man Group hastaken up residence in nearby Astor Place), mu-sic (CBGB in the East Village is said to be thebirthplace of American punk rock music) and

Future students should knowthat this is a vibrant and excitingenvironment to pursue an MBA.

The location is phenomenal, andthe community that surrounds

our school is as alive andenergetic. NYU Stern 11



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literature (the alternative newspaper The VillageVoiceis published in the Village, and the Strand,New Yorks most famous bookstore, is locatednearby). Like the rest of Manhattan, the Villageis replete with dining options, from Johns Pizze-ria on Bleecker Street, regarded by many as thebest in the city, to Babbo, the pricey Italian cre-ation of famous chef Mario Batali, located just

off Washington Square Park on Waverly Street.

The Village is notoriously easy to get lost in,especially for newcomers. The neighborhoodwas originally a separate city from the rest ofNew York, and therefore its streets do not followthe simple grid pattern of much of the rest ofManhattan. Most streets in the Village are notnumbered, particularly as you move south fromthe main NYU campus. Even those that are donot necessarily play by the rules; for instance,West 4thStreet suddenly turns right at one pointand begins running north-south, intersectingWest 12thStreet. However, after a day or two ofconfusion, most visitors come to enjoy the nar-row and often curvy streets that give the Villageits charming, slightly European feel.

The City of New YorkThe largest city in the United States, the mostdensely populated in North America, and one ofthe largest metropolitan areas in the world, NewYork offers an almost unlimited range of activi-ties and opportunities for the interested stu-dent. Over one-third of New Yorks population is

foreign-born, and 138 languages are spoken inthe borough of Queens alone, making it one ofthe most diverse cities in the world.

Home to the United Nations, Wall Street, andmyriad international companies and nan-cial markets, as well as world-class museums,restaurants and fashion, New York is known forits culture, economic opportunity and fast paceof life. The city is made up of ve boroughs Manhattan, Queens, the Bronx, Staten Islandand Brooklyn each with its own character, his-tory and attractions.

New York is a hub for American art, theatreand television. The world-famous Metropoli-tan Museum of Art calls New York home, as dothe Museum of Modern Art, the GuggenheimMuseum and nearly 2,500 other museums andgalleries. The Broadway Theatre District is aninternational center for the performing arts, witha staggering array of musicals, comedies, dra-mas, world premieres and experimental theatre.With all four major American TV networks and

many large cable networks headquartered inNew York, there is always lming happening inthe city.

The citys extensive network of parks offers op-portunities for jogging, swimming, canoeing andkayaking, as well as leisurely strolls or picnicdinners. Sports fans appreciate that the NewYork/New Jersey metropolitan area has two or

more teamsin each of theU.S.s fourmajor profes-sional sportsleagues theMets andYankees inbaseball,the Nets andKnicks inbasketball,the Giantsand Jets infootball, and

the Rangers, Devils and Islanders in hockey.Tenniss U.S. Open is hosted in Queens eachyear, and the New York Marathon, held each fall,is one of the worlds premier long-distance run-ning events.

Winters in the city tend to be cool, but lessharsh than those in many inland cities, withaverage winter temperatures ranging from 25

to 40F (-4 to 4C). Snowfall does occur in thewinter, but the warm ocean air makes rain morecommon. Summer highs tend to stay in themid-80s (approx. 29C), with high humidity.

Three major airports serve the New York met-ropolitan area: John F. Kennedy and LaGuardiaInternational Airports in Queens, and NewarkLiberty International Airport across the HudsonRiver in Newark, New Jersey. Frequent trainand bus service connects New York to the restof the Northeastern corridor, and the major U.S.cities of Boston, Philadelphia and Washington,

D.C., are only 2 to 5 hours away by car. Mostresidents nd it easy to get around the NewYork area without a car, relying instead on sub-ways, buses, cabs and trains to move through-out the city and its suburbs.

HousingAlthough students are not required to live oncampus, Stern does offer limited on-campushousing for full-time MBA students. At the Pal-ladium, a relatively new apartment complex

Living in New York is unlikeliving in any other city, so forstudents who relocated to thecity, there is a huge number ofthings shows, restaurants,sights, activities to take partin. Having New York City asthe backdrop of Stern shapesour social lives, and naturally,provides unparalleled access to

the many companies located inNew York. NYU Stern 10



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Life at NYU Stern |

owned by NYU, four full oors are reserved forapproximately 100 Stern students. The build-ing offers furnished studios and shared two-bedroom apartments, and is a good choice forsingle students who are new to the city. For-mer residents of the Palladium say that living

in the building is a great way to make friendsat Stern, since the proximity of other studentsmeans that it is always easy to nd help withhomework, a buddy for the gym or company fordinner. In addition to being fully furnished, allrooms include local phone service, cable televi-sion and high-speed internet.

ClubsStern boasts more than three dozen studentclubs and organizations representing a range of

personal, social and professional interests (seeFigure 4.1). All clubs are overseen by the SternStudent Corporation, or SCorp, which servesas the schools student government. AmongSCorps responsibilities are allocating funds toclubs and ofcially acknowledging when newones are founded. Students are encouragedto start new clubs if they can make a case thatthe interests or concerns of their proposedclubs members would not be met by any exist-ing Stern outlets. SCorp facilitates a number

of community-wide events, from the First BeerBlast in September to the Stern Follies showand MBA Flag Football Days in May.

The largest number of clubs at NYU Stern arededicated to common professional pursuits,

ranging in focus from nancial engineeringto entertainment to social enterprise. Theseprofessional clubs offer their members tools tohelp them prepare for their post-MBA careers.The Social Enterprise Association (SEA), oneof the most prominent such clubs, doubles asNYU Sterns chapter of Net Impact, a nationwideorganization that aims to encourage studentsfrom all industries and functions to make ameaningful impact in the world. Each year, theSEA hosts a speaker series, several discussionforums and a spring break trek, among otherevents.

Given the number of Stern students who en-ter jobs in nance, it is not surprising that theGraduate Finance Association (GFA) is one ofthe largest and most active student groupson campus. With over 850 student members,drawn from both the full-time and part-timeMBA programs, alongside a large network ofalumni who remain involved in the club, thegroup provides extensive educational, network-

Athletic ClubsStern Basketball AssociationStern Golf ClubStern Racquet AssociationStern Rugby Football ClubStern Soccer Club

Stern Softball ClubStern Racquet Club

Afnity/Identity ClubsAsian Business SocietyAssociation of Hispanic & Black

Business StudentsEuropean Business SocietyJapan Business AssociationJewish Students AssociationLatin American BusinessAssociation

Military Veterans ClubOutClassSouth Asian Business Association

at SternStern in AfricaStern Opportunity

Stern Women in Business

Career and Professional ClubsAssociation of Investment

Management & ResearchEmerging Markets Association

Entrepreneurs ExchangeGovernment and BusinessAssociation

Graduate Finance AssociationGraduate Marketing AssociationLuxury & Retail ClubManagement ConsultingAssociation

Media, Entertainment & SportsAssociation

Real Estate ClubSales & Trading ClubSocial Enterprise AssociationStern Hedge Fund AssociationStern Pharmaceutical & Health

Care AssociationStern Private Equity ClubStrategy & Operations Club

Technology & New Media Group

Social ClubsNet Present VocalsSpeechMastersStern Adventures

Stern Wine Cellar

Stern ConferencesAssociation of Hispanic and Black

Business Students ConferenceAssociation of Investment Man-

agement & Research ConferenceGraduate Finance Association

ConferenceGraduate Marketing Association

ConferenceLuxury & Retail ConferenceMedia, Entertainment & SportsAssociation Conference

Stern Private Equity ClubConference

Stern Women in BusinessConference

Figure 4.1NYU Stern Student Clubs and Conferences



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ing, and career preparation resources to itsmembers. Frequent club events during Fall Se-mester feature industry speakers presenting anoverview of different areas of nance, highlight-ing career opportunities and notable trends inthe industry. In Spring Semester, career panelsand training seminars prepare students to ndand excel in nance positions.

Another nance-oriented club of note is theStern Private Equity Club (SPEC). SPEC helps toconnect students interested in careers in privateequity and venture capital to leading guresin their target industries, organizing eventsranging from alumni mixers to mock interviewsessions. SPEC also hosts an off-campus con-ference each spring that is open to all interestedNYU Stern community members and industryprofessionals.

Serving bothprofessionaland socialpurposes,NYU Sternsafnity- andidentity-based clubsreect thediversity ofthe schoolsstudent body.For instance,

OutClass,Sterns LGBTgroup, seeksto identifyand addressissues of sexual orientation and gender iden-tity as they relate to the workplace, as well asserving as a social and professional network forits members. Current and past members of theorganization have been recognized by such pub-lications as The Advocateand BusinessWeek.

With over 500 active members, NYU Sterns As-

sociation of Hispanic and Black Business Stu-dents (AHBBS) is one of the largest clubs oncampus. The association provides an importantlink between Hispanic and black students andthe professional communities they seek to enter,organizing one of the largest and oldest confer-ences on campus as well as a series of careertreks and other events for its members. AHBBSalso actively reaches out to other afnity groupson campus to pool resources and networks.

The Military Veterans Club (MVC), geared to-wards those who have served in any branch ofthe U.S. Armed Forces, is an afnity group thatdoubles as a particularly strong social networkand support group. The clubs goals are to en-able more veterans to become Stern students,to ease the transition from military life to a busi-ness environment, and to aid those injured or

the families of those killed while serving theircountry. For example, the MVC hosts a regu-lar $10,000-per-table charity event open tostudents from all of Sterns peer schools, theproceeds of which went to Reserve Aid, an or-ganization devoted to helping military reservistswounded while on active duty.

As one of the schools social clubs, Stern Adven-tures hopes to bring students together outsidethe classroom through outdoor expeditions.Welcoming everyone from beginners to accom-plished daredevils, the club organizes adven-tures ranging from skiing trips to whitewaterrafting. The Stern Soccer Club, too, provides anon-academic backdrop in which Stern studentscan get to know one another. Through theirparticipation in regular practices and inter-MBAcompetitions, students get the chance to workas a team without having to prove their quan-titative prowess. Win or lose, the team alsohosts many parties and happy hours that allowmembers to socialize off the eld.

A more cerebral but equally non-academic club

is the Stern Wine Cellar, whose main concernis the joyous consumption of libations andne cuisine. With regular wine-tasting eventsthroughout the year, the Wine Cellar provides anopportunity for students to become acquaintedwith a ne Shiraz while simultaneously learninga little more about their peers.

ConferencesStern has a very active events schedule. Itsprofessional and afnity clubs host several

conferences each academic year that bring to-gether students, faculty members and industryprofessionals. Regular conferences include theStern Private Equity Club Conference, the SternWomen in Business Conference, and the GlobalBusiness Conference, which is sponsored jointlyby the Emerging Markets Association and sev-eral other clubs with an international or industryfocus.

The Graduate Finance Associations annual GFA

Students are very involved

in extracurricular activities.Any given student may be a

member of a handful of clubsand focus on a leadership

role in one or two clubs. Theclubs and extracurricular

activities are student-run, andit is incredible to see what

the students can accomplishthrough their organizations.The extracurricular offerings

are extensive and are a huge

part of students lives, socially,academically and for recruiting. NYU Stern 10



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Life at NYU Stern |

Conference, usually the rst of the academicyear, draws approximately 200 attendees eachyear, including a large contingent of New York-based Stern alumni working in nance. The 15thannual con-ference, heldin mid-Oc-tober 2010,

includedseven paneldiscussions,three guestspeeches anda plethora ofnetworkingopportunities.The featuredspeakerswere JacobSilverman,CFO of the nancial advisory rm Duff & Phelps;

NYU Stern professor Charles Murphy, the for-mer head of Credit Suisses global investmentbanking department; and Ray McGuire, Head ofGlobal Banking at Citigroup.

For the past 25 years, the AHBBS has held one

a mid-October conference, generally held theweek after the GFA Conference, which drawsupwards of 300 current students, minority ap-plicants, alumni and industry professionals tocampus. In 2010, the conferences platformwas Moving Forward: Building Momentum forthe Milestones Ahead. The conference featuredspeeches by Kym Hubbard, Treasurer and ChiefInvestment Ofcer for Ernst & Young, and Bar-bara Byrne (MBA 80), Vice Chairman of Invest-ment Banking for Barclays.

Held in back-to-back weeks in February 2011,the 19thannual Stern Women in Business Con-ference focused on women who seek to cre-ate social change outside the bounds of theircompanies, and the Media & EntertainmentAssociation conference provided opportunitiesfor networking within the lm, music, broad-cast and cable television, sports and publishingindustries. Keynote speakers at these confer-ences have included Karen Peetz, Vice Chair-man and CEO for Financial Markets and TreasuryServices at BNY Mellon; Avivah Wittenberg-Cox,CEO of 20-First; Jeffrey Zucker, President andCEO of NBC Universal; and Joseph Uva, CEO ofUnivision.

Guest speakers would oftencome to campus. For example,

the presidents of the WNBA andthe MLB Players Union, came

to speak, because their ofcesare here in New York. NYU is

accessible to visitors. At times atb-school, things get theoretical,

and I was more interested inapplying theory. The speakers

would give real-world experienceand tell us why the MBA is

useful. NYU Stern 10



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Ofce of CareerDevelopmentThe Ofce of Career Development, or OCD, isthe organizing force behind NYU Sterns on-campus recruiting program. The ofce employsover 20 staff members with specialized indus-try expertise and offers numerous programs tosupport students internship and full-time jobsearches.

The Career Resource Center (CRC), locatedwithin the OCD, is a library dedicated to the jobsearch process. Resources in the CRC include

job postings, business directories, recruitingpamphlets, videos of corporate presentations,Sterns annual placement reports and generalguides on how to navigate the job search. An-other valuable resource at the OCD is the Ca-reer Advisory Program, an online resource thatlinks students with successful Stern alumni toarrange informational interviews and possiblementoring relationships.

In addition tothese re-search tools,the OCDorganizes abusy sched-ule of careerdevelopmentprogram-ming to helpstudentsenhance their

job searchskills. Much of this programming takes placeon Friday afternoons throughout the year, withsample topics including mock interviews, re-sume review, industry-focused panel discussionsand workshops on networking. Students canalso take advantage of one-on-one career coun-seling with OCD staff members. These individu-alized sessions can help students assess theirstrengths and goals, focus their job searchesand build their networking skills.

Recruiting/Interview ProceduresOne of the OCDs most important functions isto organize the on-campus recruiting programthat brings hundreds of employers to Sterneach year. On-campus company presentationsgeared toward second-years begin early in thefall semester, and interviewing for full-time posi-tions starts in mid-October of each year. First-year students, on the other hand, are allowedseveral months to settle into Stern before therecruiting season begins in earnest. Interviewsfor summer internships begin in the secondweek of January and continue through earlyspring.

Recruiters interviewing at Stern may opt foreither a closed or an open schedule, a divisionused by many leading MBA programs. In theclosed model, rms pre-screen the resumes ofall interested candidates and submit a list ofthose they would like to interview, while in theopen model, students are free to bid for in-terview slots at their target companies. Manystudents, especially career changers, prefer the

open schedule, since it provides an opportunityfor those with little prior experience in the eldto demonstrate their relevant knowledge andtheir passion for the position.

Career StatisticsAll MBA career ofces work to build recruitingrelationships with companies in many industriesand geographic locations. However, if a schoolboasts a high number of students with an inter-est in a particular industry or location, that often

suggests that the school is more likely to attractrecruiters from those elds or regions, and thatthose companies are more likely to have a suc-cessful recruiting season and be interested inbuilding partnerships with the school. Likewise,when a large number of companies from a par-ticular industry or region regularly visit a school,it tends to attract a larger network of studentsinterested in that eld or location.

Because of this cycle of interest in on-campus

5Life After NYU Stern

Because I was a careerswitcher, the Ofce of CareerDevelopment was instrumentalto my success. Whether it waspreparing me for interviews, orhelping me structure an excellentresume, their help was vital.Their advice has been pivotal inmaking the right decisions.

NYU Stern 11



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Life After NYU Stern |

recruiting, MBA candidates should research theindustry and regional employment statistics oftheir target schools to get a sense of the relativerecruiting opportunities available. Of course,with up to half of students at some schools nd-ing their full-time positions through independentsearches, it is important to remember that thereare many opportunities available beyond on-campus recruiting.

IndustryNYU Sterns reputation as a nance-focusedschool is borne out by its career placement re-cord. The school sent 47% of its Class of 2010

into the nancial services industry, which is notonly one of the highest nance percentages, butalso one of the highest percentages of studentsentering a single industry, at any leading busi-ness school (see Figure 5.3). Only Columbia,another New York school known for its nanceorientation, sends a higher proportion of stu-dents into the sector.

Of Stern graduates entering nancial services,the majority tend to take positions in invest-ment banking, a eld that attracted 31% of theClass of 2010. In other words, Stern sends as

large a percentage of graduates into investmentbanking alone as many business schools sendinto the entire nancial services sector.

With nancial services dominating the recruit-ing landscape, there are fewer students left overto populate traditional post-MBA elds such asconsulting, consumer products and technology(see Figure 5.1). In fact, with only 15% of theClass of 2010 accepting positions in consulting,Stern sends one of the lowest percentages of

graduates into that industry of any leading MBAprogram.

In contrast, NYU Sterns location in the mediaand entertainment center of New York translatesinto a relatively large percentage of graduatesentering the entertainment industry. In theClass of 2010, 4% of Stern graduates entered

the media and entertainment industries, a gurethat has risen as high as 10% over the last fewyears. The only school that regularly sends acomparable or higher percentage of graduatesinto the business is the UCLA Anderson Schoolof Management, located in Los Angeles, theU.S.s other main entertainment and media hub.

GeographyGiven New Yorks status as one of the worldsnancial capitals and the high percentage ofStern graduates entering nancial services upon

graduation, it is not surprising that the vastmajority of Stern graduates settle in New YorkCity and the Northeast U.S. (see Figure 5.2). Inthe Class of 2010, fully 80% of graduates took aposition in the Northeast, a percentage broadlyin line with historical trends. Europe and Asiawere the next most popular destinations forClass of 2010 graduates, with 4% of the classchoosing to relocate to each of those regions(see Figure 5.4). International placements areconsistently popular among Stern graduates,drawing 13% of the class last year.

On the other hand, only a handful of NYU Sterngraduates choose to settle in other regions ofthe U.S. Only 3.5% of the Class of 2010 ac-cepted a position in the West after gradua-tion, and the Mid-Atlantic, Midwest, South andSouthwest all attracted fewer than one percent

Figure 5.2NYU Stern Regional Placement

Northeast

Asia

Other International

Europe

Other U.S.

Note: Other includes Technology, Healthcare/Pharma/Biotech andReal Estate, as well as other industries not delineated within NYU

Sterns employment report.

Consulting

FinancialServices

ConsumerGoods/Retail

Figure 5.1NYU Stern Industry Placement

Media/

Entertainment

Other



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Figure 5.3Job Placement by Industry

FinancialServices

Consulting

ConsumerGoods/Retail

Technology

Healthcare/Pharmaceuticals/Biotechnology

Manufacturing

Non-Prot/Public Service

Media/

Entertainment

Real Estate

Energy



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Life After NYU Stern |

Northeast

West(including

Alaska &Hawaii)

Midwest

Mid-Atlantic

Southwest

South

Figure 5.4Job Placement by U.S. Region



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of Stern graduates. This indicates that whilejob searches outside of New York can indeed besuccessful, they will likely need to be very self-directed, as campus resources and recruitingrelationships in those regions appear to be slim.On the other hand, with such an overwhelmingpercentage of graduates settling in the New Yorkarea each year, students interested in working

in New York after graduation will have extraordi-nary local resources on which to draw.

Alumni NetworkNYU Sterns combined undergraduate and MBAalumni network consists of over 90,000 livingalumni based in more than 100 countries aroundthe world. While at Stern, MBA students havethe chance to connect directly with participatingalumni through several mentorship and net-working programs, including the New Venture

Mentor Program and the Social Venture MentorProgram. These programs match current MBAstudents who are interested in entrepreneurshipand social entrepreneurship with alumni activein those elds.

As graduates,many SternMBAs con-tinue to beinvolved inthe schoolsmentoringprograms,either asmentors ormentees, andalso havefree accessto a separate career services ofce dedicatedto the needs of mid-career professionals. TheCareer Center for Working Professionals (CCWP)offers one-on-one career counseling, mock

interview services, workshops, and access toseminars, networking events and job postings.In a typical year, the CCWP offers more than 25workshops, holds over 1,500 career counsel-ing sessions and provides access to more than1,700 job postings, making it a rich resource forStern graduates.

Stern alumnican stayconnectedwith eachother throughthe schools

online alumni platform, NYU SternConnect. Us-ers may access Sterns online alumni database,class notes, alumni group websites and CCWPcareer resources, and can take advantage ofSterns lifetime email forwarding service.

In addition to the ongoing communication andcareer resources, Stern hosts several majoralumni events each year. The Global AlumniConference is an annual three-day professionalevent that brings expert speakers and interest-ed alumni together to discuss global themes in adifferent major city each year. On a more socialnote, the annual Stern Alumni Ball is a black-tiegala held during the holiday season to celebratethe Stern community.

Finally, all NYU Stern alumni are eligible to con-tinue their business education through Sterns

Alumni Students program. Although manyleading business schools allow graduates topursue additional coursework, Stern has one ofthe most exible policies in this area, allowingalumni to enroll in three credits of courseworkper semester with no cap on the number ofpost-graduate credits they may earn. All alumnistudents must pay applicable tuition and fees,and all course grades are recorded on the par-ticipants ofcial NYU transcript.

[The alumni network] is veryimportant. Not only in terms

of building a more robustprofessional network, but also

to meet people that have been

in the position you currentlyare. They can relate to yourdilemmas, uncertainties and can

be a tremendous source of help. NYU Stern 11

I cold-called 150 alums andeveryone was very responsive.

NYU Stern 10



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Admissions |

6Admissions

Visiting NYU SternNYU Stern welcomes prospective students tocampus throughout the year, offering combinedtours and information sessions on Mondaysthrough Thursdays at 4:30 p.m. Members ofthe Admissions Committee partner with currentstudents to present a short, informal tour of thecampus and an informational presentation thatincludes a Q&A session. Although prior reserva-tions are not necessary to participate in the tourand information session, visitors are encouraged

to arrive atleast 15 min-utes beforethe sessionstarts in or-der to sign inwith securityand registerwith MBAAdmissions.

Prospectivestudents arealso welcometo sit in ona class whileon campus.Class visitsare avail-

able throughout Fall Semester, though availabil-ity may uctuate based on exam and vacationschedules. For more information on arranginga class visit, visitors should contact the MBAAdmissions ofce several weeks in advance oftheir trip.

ApplicationRequirementsNYU Stern evaluates candidates for admissionon the basis of their academic potential, careerhistory and goals, and personal and professionalcharacteristics. Within this framework, Sternseeks students with the academic condence

to ask difcult questions and to persist throughchallenging academic situations. The schooldoes not require a minimum GPA or GMAT scorefor consideration, though both are seen as im-portant factors in evaluating a students poten-tial. Work history is considered for its lengthand consistency, as well as for the breadth ofthe candidates responsibilities and evidenceof progression within their eld. Finally, Sternlooks to admit candidates who will be activelyinvolved in the Stern community, and thereforevalues proven leadership, evidence of strong

communication skills and participation in onescommunity.

The two-part NYU Stern online application formrequests an array of standard biographical data,as well as standardized test scores, informationabout the applicants academic record, awardsand extracurricular activities, and, if applicable,an International Supplement form. In addi-tion to the application form, candidates shouldsubmit a current resume, transcripts from anyundergraduate or graduate coursework theyhave undertaken, two letters of recommenda-

tion, GMAT or GRE scores, TOEFL scores (ifapplicable), and responses to the schools threeessay questions. Candidates should also planto complete an employment history form and tosubmit an application fee.

Although most of NYU Sterns application re-quirements are in line with those of otherleading MBA programs, the school does throwapplicants one curveball (see Figure 6.1). Theschools Essay 3 asks applicants to describethemselves to their MBA classmates using anymethod or medium to convey their message.This question is famous for its open-endednature and usually either delights or confoundsperspective students. The Admissions Commit-tee stresses that there is no wrong approachto the question, so long as students use good

judgment in considering what they want toconvey about themselves. That said, they dorequest that applicants refrain from sendingin anything perishable (such as food) or any-thing that has previously been worn (such as

Because of my proximityto NYU, I was able to visit anumber of times, and eachtime I felt extremely welcomeand comfortable. The energyamong the students, faculty andadministration who I met wascontagious. Stern fostered thecommunity that I could mosteasily envision myself being apart of. Now that Im at NYU, I

can see that my impression ofthe school and the student bodywas correct. The community isvibrant, motivating and fun to bea part of. Stern 10



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old clothing). In addition, the committee hasrecently imposed size restrictions on Essay 3submissions, likely due to limited on-site stor-age space.

In exceptional circumstances, some candidatesmay be given permission to submit a paper-

based application. However, in most cases,candidates are expected to submit applicationsonline.

Interviewing with NYU SternNYU Stern considers the interview to be a vitalpart of the admissions process, and the Admis-sions Committee rarely extends an acceptancewithout conducting an interview. Interviewsare by invitation only and therefore cannot bescheduled by the applicant.

Candidates are informed of an invitation tointerview by the notication date of each admis-sions round. Applicants not invited to intervieware usually denied or placed on the waitlist atthis time. Stern strongly encourages those in-vited to interview to come to campus to inter-view directly with a member of the admissionscommittee. In a typical interview, the admis-sions ofcer has spent some time beforehandreading the applicants le and will already befamiliar with their background and goals. This

differs signicantly from the blind interviewsconducted by many peer schools, including Kel-logg, Wharton and Darden.

Although some interviews are held off-site, usu-ally in Europe and Asia, the availability of theseinterviews is limited, and spaces ll early. Re-

quests for alumni or phone interviews are rarely,if ever, approved, so overseas candidates whocannot attend the off-site interviews must makearrangements to travel to New York for theirinterviews.

Final admissions decisions are typically releasedwithin three weeks of the interview date. At thistime, candidates can receive an acceptance, aplace on the waitlist or a denial of admission.

DeadlinesThe NYU Stern admissions process is rolling,meaning that the school reviews applications inthe order in which they are received and re-leases its admissions decisions as soon as theyare made. The school does offer several prioritydeadlines, though, corresponding to the three-round system in place at other schools (seeFigure 6.2).

Applications received by November 15, Sterns

Essay 1Think about the decisions you have made in your life. Answer the following:(a) What choices have you made that led you to your current position?(b) Why pursue an MBA at this point in your life?(c) What is your career goal upon graduation from NYU Stern? What is your long-term career goal? (750word maximum)

Essay 2We take great care to shape the Stern community with individuals who possess both intellectual andinterpersonal strengths. We seek individuals who are highly intelligent, collaborative and committed toourishing as Stern leaders. Please answer the following questions:(a) What is your personal experience with the Stern community? Tell us what actions you have taken tolearn about us.(b) Describe what most excites you about Stern from both an academic and extracurricular perspective.(c) How do you anticipate making your mark on the Stern community? Be specic about the roles you willtake on and the impact you hope to achieve. (500 word maximum)

Essay 3Please describe yourself to your MBA classmates. You may use almost any method

School_Guide_NYU_Stern_School_of_Business.pdf

Documents

Transcript of School_Guide_NYU_Stern_School_of_Business.pdf