NYC Stern MBA Program is a full-time MBA program provided by the Stern School of business of New York University. Founded in 1900, Stern school of business is one of the oldest & most sought out business schools in the United States. Ranked #22 by the Financial Times in its Global MBA Ranking 2020 and #10 in Best Business School by the US News, NYC Stern MBA Program is among the top choices of business students around the globe.
The school has produced several leaders in different fields. Some of the renowned alumni of the Stern School of business include Alan Greenspan (Chair of the Federal Reserve of the United States), Thor Bjorgolfsson (Ireland’s first billionaire), John J. Creedon (Former CEO & Chairman, MetLife), Thomas E. Dooley (Former CEO of Viacom), & Paul Levitz (President of DC Comics).
For the class of 2021, the school received 3518 applications from around the world, and only 350 students made it into the NYC Stern MBA Program. The class consists of 37% female and 33% International candidates. More than 30% of the students came with an undergraduate major in business followed by science & engineering. In this article, we shall cover every information you need to know before applying for the NYC Stern MBA Program.
The NYC Stern MBA Program’s curriculum starts with the LAUNCH program through which the school aims to transform the mindset of MBA students to get them to think about how business and innovation can revamp challenges into opportunities.
The first year consists of core courses. There are two required courses: Financial accounting & reporting and Statistics & data analysis. And a set of optional core courses from which the student has to choose 5 of it. It includes Business Analytics, Firms & Markets, Foundation of Finance, Marketing, Strategy, Operations Management, The Global Economy, etc. The first year ends with a summer internship.
In the second year, students can select up to 3 specifications, choose subjects to study from more than 200 electives, take up to 25% of the courses at other NYC graduate schools, or gain global experience through several options provided by the school. There are various electives offered by the school in many areas like Strategy, Global Business, Healthcare, Finance, Banking, Accounting, Digital Marketing, Law & business, etc.
All Stern MBA students graduate in General Management and can choose up to 3 specializations or choose not to specialize at all. The school provides specializations in various subjects, including Accounting, Banking, Economics, Finance, FinTech, Healthcare, Marketing, Real Estate, etc. For the students to gain global experience, the school provides semester-long International Exchange programs in Stern’s 47 partner schools in more than 30 countries around the world. Some of Stern’s partner business schools include HEC Paris, ISB Hyderabad, CEIBS, HKUST, IESE Barcelona, IIM-A & B, Melbourne Business School, & London Business School.
Along with this, there is a ‘Doing business in… Program’, where students travel around the globe to learn about how business is conducted in another country. The students learn about the issues, challenges, & opportunities involved. There are over 10 locations where the program takes place, including Argentina, Australia, China, Israel, Italy, Singapore, & Morocco.
Eligibility
Academic Requirement:
To apply for the NYC Stern MBA Program, students are required to hold a 4-year bachelor’s degree from an accredited college/university in the United States or an equivalent degree from a foreign country. India’s three-year undergraduate degree is accepted for the MBA program at Stern. Also, there is no minimum graduate GPA requirement mentioned by the school. However, the average GPA of the class every year is generally around 3.5.
Work Experience:
The school doesn’t require minimum full-time work experience from the applicants. For the class of 2021, the students accepted for the NYC Stern MBA Program have an average work experience of 5.2 years, with a range of 0-14 years.
Standardized MBA Tests:
The school accepts valid GMAT, GRE, & Executive assessment tests like MCAT, LSAT, & DAT for the student applying for the MBA program. The school doesn’t have any preference or minimum requirement for these tests. However, the average GMAT score for the class of 2021 is 721, with a range (middle 80%) of 680-750. The international students are also required to submit the English Proficiency Tests like TOEFL, IELTS, or Duolingo English Test. It can be waived for the students whose native language is English or who have graduated from the school where the medium of instruction was in English.
For one academic year of 9 months, the tuition fee for the NYC Stern MBA Program is USD 76,780. The students are also required to pay a one-time registration fee of $4,343. Along with this, the estimated living expenses of the students for one year come at around USD 38,128. It includes Room & board ($26,804), Books & supplies ($1,980), Transportation (1,110), Loan fees ($216), & Miscellaneous expenses including the health insurance of ($8,018). The total cost of attendance for one year NYC Stern MBA Program is expected to be around $120,000.
The Stern school of business provides several merit-based scholarships to the deserving students. About 20-25% of the admitted full-time MBA students receive merit-based awards covering half to full tuition fees. The scholarship decisions are made at the time of admissions. Some of the merit-based scholarships include,
Dean’s Scholarship: It is one of the most prestigious scholarships provided by the school to highly meritorious students. The scholarship covers the full tuition fee of the students.
Named Faculty Scholarship: This scholarship is designed to pair some of the most meritorious students with Stern’s most distinguished and prestigious faculties. This scholarship covers the full tuition fees of the selected students.
Alumni Scholarship: In this, a sum of $60,000 is provided to excellent students. The decision is based entirely on merit and takes into consideration the academic excellence and demonstrated leadership qualities of the students.
Other than these awards, the school also provides the opportunity of teaching and graduate fellowship. Students can receive up to $21,600 by working as a Teaching fellow or Graduate fellow. Hundreds of TF & GF positions are filled by Stern’s MBA students every year. The eligibility to apply for the same is excellent academics with at least 3.00 GPA and completion of at least 9-credit points at Stern. The school also provides private student loan options to international students with or without a US co-signer.
Placement Statistics
According to the employment report of 2019, 95.3% of the students seeking employment received a job offer within 3-months of Graduation. Out of which 94.2% of the students accepted the job offer. Reportedly, 90% of the students got placed within North America, followed by Asia & Middle East with 6%. The median salary received by the class was $140,000, a 12% increase since last year. The highest salary reported was $200,000 and the lowest at $53,310.
The median signing bonus received was $30,000, with a range of $1,000-$170,000. Students placed in the Law industry received the highest median pay of $190,000, followed by the students in Investment banking with $150,000. The top 3 industry who recruited the majority of the students include:
Consulting 37.1%
Financial Services 29.4%
Technology 15.0%
The top three functions include:
Consulting 45.3%
Finance/Accounting 30.6%
Marketing/Sales 10.9%
Top employers who hired most of the students include:
Deloitte 17
McKinsey & Company 17
The Boston Consulting Group 14
EY 14
Amazon 9
Bain & Company 9
JP Morgan Chase & Company 9
PwC 9
Credit Suisse 7
Goldman Sachs 7
Google 6
You can check here for more details
The Stern School of Business seeks students who best exemplify Stern’s core value of IQ+EQ.
Online Application:
You will need the following to apply for the NYC Stern MBA Program:
Academic Transcripts
GMAT/GRE score
English Language Test
Resume
2 Essays
2 Emotional Intelligence (EQ) Endorsements
Application Fee of $250
Interview:
After you’ve applied for the program, the admissions committee will evaluate your application. You will receive an initial notification, which may include an interview offer, waitlist offer, or denial of an interview. For the applicants receiving the interview offer, they will either be required to appear for the interview on-campus or off-site locations. Other than the NYC campus, the interviews are also held in London, China, & India.
Please note that NYC Stern generally does not grant the phone/Skype interview option. It is allowed only under exceptional & extreme circumstances. The school prefers a face-to-face interview only. Your interviewer will include either the member of the admissions committee or alumna/alumnus who have been selected & trained by the admissions committee. The interview will last for approximately 30 minutes and include behavioral questions, case questions, & traditional MBA interview questions. After the interviews, the admissions committee will again evaluate all the shortlisted applications, along with the interview feedback form. If selected, you will be notified about your acceptance through the E-mail.
The Stern school of business asks two mandatory essay questions to the interested applicants. They are:
Essay 1: Professional Aspirations: What are your short and long-term career goals?
How will the MBA help you achieve them?
(500 maximum word limit)
Essay 2: Personal Expression (a.k.a. “Pick Six”): Describe yourself to the Admissions Committee and your future classmates using six images and corresponding captions.
Your uploaded PDF should contain all of the following elements:
-A brief introduction or overview of your “Pick Six” (no more than three sentences).
-Six images that help illustrate who you are.
-A one-sentence caption for each of the six images that helps explain why they were selected and are significant to you.
Note: Your visuals may include photos, infographics, drawings, or any other images that best describe you. Your document must be uploaded as a single PDF. The essay cannot be sent in physical form or be linked to a website.
Along with the above mandatory essays, there is also an optional essay question.
Essay 3: Additional Information: Please provide any additional information that you would like to bring to the attention of the Admissions Committee.
It may include current or past gaps in employment, further explanation of your undergraduate record or self-reported academic transcripts, plans to retake the GMAT, GRE, Executive Assessment, IELTS or TOEFL, or any other relevant information.
With an acceptance rate of 26%, getting into the NYC Stern MBA Program is a no joke. The school looks for candidates with strong intellectual abilities, superior interpersonal skills, & desire to create value for business and society. If you think you have what it requires getting into the Stern school of business, we would advise you to go for it.
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