Yale School of Management is among the most prestigious institutions for the MBA degree. Yale University is among the 8 Ivy League Universities and is considered an elite college all across the world. Ranked #11 by the Financial Times in its Global MBA Ranking 2020, Yale School of Management needs no introduction. The school has also been ranked #1 in US News & World for the best non-profit MBA. Yale School MBA Program is among the top choices of business students. Many notable alumni have maintained the proof of rich legacy & valuable learning which the school offers.
Some of the well-known alumni of Yale School of Management include Indra Nooyi (Former CEO, PepsiCo), Ashwin Sanghi (Indian Novelist), John L. Thornton (Former President of the Goldman Sachs Group), Roger H. Brown (President, Berklee College of Music), Mary Ellen Iskenderian (CEO & President of Women’s World Banking). A total of 345 students got enrolled for the class of 2021 from more than 47 countries across the globe. 42% of the batch consists of Women, while 29% is the US students of colors. In this article, let us get to know more about the Yale School MBA Program:
The two-year program consists of four terms. The first year is full of core subjects, and the second year is full of electives. The first year consists of Orientation to Management Courses, where the school teaches the basic things which every emerging business leader should know. It includes subjects like Accounting, Probability Modeling & Statistics, Basic of Economics, Managerial Decisions, & Introduction to Negotiation.
Followed by the above Courses, Organizational Perspective Courses are taught. These subjects help the students to learn how the organization works. The subject topic includes the study of Competitors, Customers, Investors, Power & Politics, State & Society, Workforce, Global Macroeconomy, and other similar courses. In the second year, students have the liberty to choose electives according to their interests & career goals. Yale School of Management engages closely with its home university.
Nearly 75% of the students take electives outside the school of management in other institutions under Yale University. It includes the School of Architecture, School of Art, School of Music, School of Nursing, School of Medicine, School of Public Health, among others. Other than this, several management-related electives are also offered by the school. Some of them are Interpersonal Dynamics, Global Social Entrepreneurship, Corporate Finance, Marketing Strategy, & Policy Modeling. The school also gives major emphasis on Global Experience.
Before graduating from the Yale School of Management, Students are required to participate in any of the four: 1. Global Study Tour, 2. Global Network Course, 3. Global Social Entrepreneurship, & 4. International Exchange Programme. For the International Exchange Programme, Students get the chance to spend a semester or quarter-long studies at Yale’s partner schools. It includes prestigious institutions like HEC Paris, Columbia Business School, London School of Economics & Political Science, IESE Business School, etc.
Eligibility
- Bachelors in any discipline:
There’s no specific cut-off as such. Only a four-year bachelor’s degree from the US or International equivalent is a must requirement. However, the median GPA of the class of 2021 is 3.66, with a range (middle 80%) of 3.34-3.92. It gives us a clear idea that a 3+ GPA will give you an edge during the evaluation process.
- Work Experience
There’s no minimum work experience required for the Yale School MBA Program. But the average work experience of the class every year range from 3-5 years.
- Exams
Unlike other business schools, Yale does not require non-native English speakers to submit the English Proficiency Tests like TOEFL, IELTS, or PTE. Only a valid GMAT or GRE score is a must requirement. There’s no minimum score mentioned in the official website to apply for the Yale School MBA Program, although the median GMAT score for the class of 2021 stands at 720, and the median GRE score at 165 for both Quants, & Verbal.
For a single student, one-year tuition fees come at $72,350 and an additional program fee of $2,210. That makes your total tuition fees to $74,560 for one year. Along with the tuition fees, your estimated cost of living expenses for a moderate lifestyle will come at around $27,680 for a year. It will include Room, Board, & Personal Expenses ($24,076), Books & Supplies ($1,000), & Health Insurance of $2,604. Your two-year cost of attendance for Yale School MBA Program will be approximately around $204,480 (that’s approx 1.5 Cr. INR)
There are several scholarships available for students enrolled in the Yale School MBA Program. All applicants are automatically considered for the Merit-based scholarships. There’s no separate application form required for the same. More than half of the students receive scholarships rewards of different value & size. Around 40 students get full tuition fees in scholarships.
Some of the general merit-based scholarships include Joseph Wright Alsop Memorial Scholarship, Harry and Nisha Arora Scholarship, Shanna and Eric Bass MBA Scholarship, Donald G. Borg Fellowship, & Camp Family Scholarship. Other than the merit-based scholarship, there are various in-school opportunities for MBA students at Yale. Internship Fund is a student-run organization that brings first-years to financially support their classmates who are pursuing social sector summer internships, which are often low paying.
Summer Grants for entrepreneurs are a type of fellowship that is provided to students launching a startup post MBA. The fellowship allows the student to defer their students’ loan payment for the first two-year after graduation to help them save the capital for their startup. Students also have an option to apply for Teaching & Research Assistantship at the school, which earns them a monthly stipend.
Reportedly, 92.4% of the class received a job offer within 3-months of graduation, out of which 91.4% accepted the offer in 2019. The median base salary for the US hires & International hires was $135,000 and $110,000, respectively. Around 80% of students were hired within the US, and the remaining 20% Internationally. The overall median salary of the class was $130,000, along with the median sign-on bonus of $30,000 & a median guaranteed year-end bonus of $20,000. 74.5% of the students received the signing bonus, & 14.1% received a guaranteed year bonus.
The top three hiring industry were:
Consulting 37.2%
Technology 12.8%
Financial service 10.6%
The top three job functions in which students got placed were:
Consulting 37.2%
Finance/Accounting 21.9%
Internal Consulting/Strategy 11.7%
Top employers of placement session 2018-19 were:
McKinsey & Company
Bain & Company
The Boston Consulting Group
Amazon
Deloitte
IBM
JP Morgan Chase & Company
Morgan Stanley
Ranked #6 for ‘Tough to get into’ MBA Program by the Princeton Review, the selection process for the Yale school MBA program is indeed very competitive.
- Online Application:
-Transcripts
-GMAT/GRE score
-2 Letter of Recommendations
-Resume
-Essay
-Application Fee of $250
Along with providing the above information, candidates will also have to take a Behavioral Assessment Exam that will measure your interpersonal competencies, which the school looks in its students. It is a 20-minute test, which is to be completed in a single sitting.
- Interview
The interview is by invitation only. It can’t be requested. After your application gets evaluated by the admissions committee, you may receive an interview invite. You will be offered to come to campus for the interview, which will be conducted by second-year students. If you can’t travel to the campus, you can appear in the interviews conducted by members of the admission team in major international cities. The option for a virtual interview is also applicable to students for whom the above two options are not possible to execute.
Similar to Berkeley Haas, the interview at Yale school of management is also blind. The interviewer only has access to your resume. The interview lasts for 30-45 minutes, and include general MBA interview questions. Once the interview is completed, the interviewer shares the interview feedback form with the admissions committee. If considered, you will be notified of your selection through E-mail.
There is only one mandatory essay that the applicants are required to answer for the Yale school MBA program. The question is to ‘Describe the biggest commitment you have ever made’. The admission committee seeks to learn more about your approach to commitment. Your answer must be meaningful & distinctive. Try to write on what made you think it to be your biggest commitment, and how you have supported your commitment.
The school encourages you to be clear & thorough throughout the essay. There is also an additional optional essay that you can answer to justify or clarify anything that is not mentioned anywhere in your application.
After you submit the application & pay the application fees, you will be redirected to video questions. You can access the practice tool before recording the answer. There will be a total of 3 random & typical business interview questions. For the first two questions, you will get 20 seconds to think, and 60 seconds to record your response. And for the third question, you will get 30 seconds to think and 90 seconds to respond.
Please note that you don’t have to fill your entire response time. You can answer the question and end the recording. Even with an acceptance rate of 23.7%, getting into the Yale School MBA Program is a tough nut to crack (given its small class size). But if you think you have what it requires to get into the Yale school MBA program, go for it.
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