Booth MBA Complete B-school information

In this post, you will find all the relevant information for the University of Chicago Booth School of Business. The post provides information on four key aspects of Booth: its academics, culture and student clubs, scholarships, and career report.

University of Chicago - Booth
Attribute	Data
US News Ranking	1
Applicants	4352
Accepted	1308
Enrolled	634
Acceptance	30%
Yield Rate	48%
GPA	3.6
Average WE	63
% GMAT	73%
Average GMAT	729
Median GMAT	730
GMAT Domestic	731
GMAT International	726
% GRE	26%
Average GRE Q	164
Average GRE V	163
Employed at Graduation	90%
Employed 3 Months	96%
Average Salary	$165,000
Average Bonus	$36,653
Salary and Bonus	$194,782

US News Ranking Data
Year	Ranking
2024	1
2023	1
2022	3
2021	3
2020	3

Section I: Academics
As per the official website, the mission of Booth is to create knowledge with enduring impact, and to educate current and future leaders. At Booth, the belief is that rigorous inquiry leads to valuable insights. The educational philosophy, known as The Chicago Approach, empowers individuals to transform any business challenge, regardless of its scale, into an opportunity. Students are taught to think independently, question established norms, and base their findings on solid data. In a nutshell, Chicago Booth has a strong focus on data and analytics.

The Chicago Approach is the foundational educational philosophy that distinguishes Booth from all other business schools worldwide. Developed at Chicago Booth, this approach has led to groundbreaking insights and advancements in business in both the 20th and 21st centuries. It offers a lasting, interdisciplinary framework taught by top-tier faculty, enabling students to transform business challenges into opportunities on a global scale.

Based on core scientific disciplines including economics, accounting, psychology, sociology, and statistics, the Chicago Approach equips Booth students with theoretical foundations to define problems, pose better questions, and devise superior solutions. This approach fosters strong analytical abilities, a strategic mindset, and the confidence to lead effectively in uncertain environments—critical skills in today's dynamic, data-driven business world. Graduates of Booth carry with them these enduring strategic and analytical frameworks, driving their success throughout their careers.

The MBA curriculum at Booth is rooted in foundational business disciplines such as accounting, economics, psychology, sociology, and statistics. This comprehensive exploration equips individuals with a perceptive, adaptable, and analytical framework for addressing challenges and making well-informed decisions.

A pivotal aspect of the Chicago Booth curriculum is its renowned flexibility, often referred to as Booth's Flexible Curriculum. This feature empowers students in the Full-Time MBA, Evening MBA, or Weekend MBA programs to tailor their courses based on their unique experiences, interests, and career aspirations. With a distinguished faculty, students can expect a transformative educational experience, regardless of their chosen path.

All students are required to participate in the LEAD (Leadership Effectiveness and Development) Program and are divided into sections, often referred to as "cohorts," consisting of approximately 60 students. LEAD represents the sole mandatory course in Chicago Booth's curriculum. Following this, students engage in classes of various sizes, including both first-year and second-year students. It is common for full-time Chicago Booth students to share classes with their counterparts in the Executive MBA, Evening, and Weekend MBA programs held at the downtown Gleacher Center. These interactions contribute to an expansive community, extending the network beyond the approximately 600 fellow students with whom one will ultimately graduate.

Students are encouraged to carve out their own trajectory, supported by a diverse offering of over 100 elective MBA classes designed to spark curiosity, foster ambitious thinking, and prepare them for leadership roles. Additionally, whether enrolled in the Full-Time MBA, Evening MBA, or Weekend MBA programs, individuals have the option to select courses not only within Booth programs but also in other areas across the University of Chicago, broadening their academic horizons.

Booth's faculty members have the freedom to create innovative courses and teach in their preferred styles. This ensures that students, regardless of their chosen MBA program, receive instruction from a globally recognized faculty, alongside peers who inspire and challenge them to excel. Furthermore, graduates have the opportunity for lifelong learning, with the ability to take advantage of up to 300 units of credit post-graduation. This facilitates further exploration of topics of personal interest during career transitions or advancements.

LEAD represents the sole obligatory course in Chicago Booth's curriculum. Following this, students participate in classes of diverse sizes, including both first-year and second-year students. It is common for full-time Chicago Booth students to share classes with their counterparts in the Executive MBA, Evening, and Weekend MBA programs held at the downtown Gleacher Center. These interactions contribute to an expansive community, extending the network beyond the approximately 600 fellow students with whom one will ultimately graduate.

“At Chicago Booth, we teach students how to think. How to deal with ambiguity. How to reason. How to make decisions and implement them. How to bring others along, and guide organizations to better outcomes. In short, we teach them how to become leaders.”
—Madhav Rajan, Dean and George Pratt Shultz Professor of Accounting

Section II: Culture and Student Clubs
At the University of Chicago's Booth School of Business, there is a distinctive approach to collaboration and support. The focus is on assisting and uplifting one another. The culture of paying it forward at Booth is not merely a slogan, but a lived reality that shapes the experiences of every student. This spirit of generosity, reciprocity, and mutual support is the foundation upon which Booth's unique community thrives. It is a testament to the institution's commitment to fostering an environment where success is not an individual pursuit, but a shared journey towards excellence.

Mutual Support and Collaboration- Booth holds the belief that every student should actively contribute to the collective success. This principle forms the foundation of the close-knit community within the institution.

The Booth Difference: Collaborative Success- What sets Booth apart is the students' unwavering willingness to go the extra mile in supporting each other. Achievements are celebrated not just as personal victories, but as triumphs for the entire community.

Paying It Forward: Guiding Principle- For Booth students, "paying it forward" goes beyond a mere saying. It embodies the concept of leveraging one's unique strengths to assist others, with the understanding that this investment in others will yield returns in kind. This principle reinforces the idea that success is not a zero-sum game, but a shared journey of growth and achievement.

Acknowledging Generosity- The speakers in the video express deep appreciation for the generosity that permeates every aspect of Booth life. From fellow students and professors to academic and career advisors, there is a pervasive willingness to extend a helping hand. This culture of generosity creates an environment where everyone is not only willing but eager to contribute to each other's success.

Reciprocity in Action- At Booth, giving is met with a reciprocal spirit. The culture thrives on the belief that what you invest in others, you will receive back in equal measure. Classmates are quick to offer assistance with challenges of all kinds, secure in the knowledge that their peers are equally ready to step up and provide support. This reciprocal dynamic underscores the strength of Booth's interconnected community.

A Commitment to Open Doors- The heart of Booth's culture lies in its members' readiness to extend a helping hand, answer questions, and facilitate connections. This open-hearted approach creates an atmosphere where barriers are broken down, and opportunities are made accessible to all.

Furthermore, Random Walks (RW) are a popular tradition for MBA students at Booth. Led by second-year students, these trips offer a chance for incoming students to bond with their future classmates before the start of the program. They take place before orientation, providing an early introduction to the Booth community. Many lasting friendships are formed on these trips, which can be a significant part of the MBA experience.

Below are some factors in choosing a trip:

1. Skim through the available trips and prioritize the ones that interest you.
2. Use the provided spider diagram to gauge the intensity and focus of each trip.
3. Read the detailed itinerary to understand the daily schedule and activities.
4. Familiarize yourself with the trip leaders, as their personalities often align with the trip experience.
5. Reflect on your own preferences and needs, considering factors like your energy level, extroversion/introversion, and desired level of familiarity with the destination.

Even if you don't get your first choice, you'll likely have a great experience on any of your top choices. Additionally, not participating in a Random Walk doesn't mean you'll be friendless, as there are plenty of other opportunities to connect with classmates throughout the program.

Booth's student-led groups are more than just extracurricular activities - they are gateways to a vibrant and engaged community. Fueled by a culture of giving back, these groups offer students the chance to develop professionally, form lasting connections, and create cherished memories. With second-year leaders at the helm, the experiences they facilitate are nothing short of transformative. So, whether you're a prospective student or a current one, seize the chance to dive into the dynamic world of student-led groups at Booth - it's a journey worth taking.

Below are the categories of student clubs at Booth:

1. Business and Professional Groups
2. Cultural/Regional/Religious/Personal Affiliation Groups
3. Leadership Groups
4. Social Groups
5. Special Interest Groups
6. Sports Groups

More information on this can be found at: https://www.chicagobooth.edu/mba/full-t ... nce/groups


Section III: Scholarships
Booth offers merit-based scholarships to international students. Below are the scholarships available at Booth:

1. A. H. Tobaccowala Fellowship
- This fellowship honors the legacy of Booth alumnus A. H. Tobaccowala. It is awarded to exceptional students who have demonstrated leadership and a commitment to giving back to the community. Recipients are chosen for their outstanding achievements and potential to make a positive impact.

2. Canfield Private Equity Fellowship
- The Canfield Private Equity Fellowship is designed for students interested in the field of private equity. It provides financial support to those pursuing careers in this industry. The scholarship is intended to attract and support top talent in private equity.

3. Chicago Booth Opportunity Scholarship
- This scholarship is awarded to individuals who have demonstrated a strong commitment to diversity and inclusion. It aims to support students from diverse backgrounds and provide them with opportunities to excel in business education.

4. David W. Fox Scholarship
- The David W. Fox Scholarship recognizes students who have displayed leadership, integrity, and a dedication to their communities. This scholarship supports those who are passionate about making a positive difference in the world.

5. Dennis W. and Jane B. Carlton Fellowship
- The Dennis W. and Jane B. Carlton Fellowship provides financial support to Booth students who have demonstrated exceptional academic and professional achievements. This fellowship is intended to help attract and retain top talent.

6. Distinguished Fellowship
- The Distinguished Fellowship is awarded to students who have excelled in their careers and academics. It provides financial support to individuals with a proven track record of success and leadership potential.

7. Ehara Scholarship
- The Ehara Scholarship is awarded to students who have a passion for entrepreneurship and innovation. It supports those with a drive to create and lead successful ventures.

8. Forté Foundation Fellowship
- The Forté Foundation Fellowship is dedicated to supporting women pursuing careers in business. It aims to increase the representation of women in MBA programs and leadership roles in the business world.

9. Global Innovator Fellowships
- Global Innovator Fellowships are designed for students with a strong interest in entrepreneurship and innovation on a global scale. These fellowships support those who seek to make a global impact through their business ventures.

10. He Family Scholarship
- The He Family Scholarship is awarded to students who demonstrate exceptional potential in the field of finance. It supports individuals pursuing careers in finance and investment.

11. Herman Family Fellowship for Women Entrepreneurs
- This fellowship is dedicated to supporting women entrepreneurs and future business leaders. It provides financial assistance to women with a passion for entrepreneurship.

12. Kilts Fellowship
- The Kilts Fellowship is awarded to students who have demonstrated strong leadership and academic achievements. It supports those who show promise in becoming future business leaders.

13. Marvin Zonis International Scholarship
- This scholarship is designed to assist students with a strong interest in international business and global affairs. It supports individuals who aim to make an impact on the international stage.

14. Ramakrishnan Family Scholarship
- The Ramakrishnan Family Scholarship supports students who are passionate about entrepreneurship, innovation, and technology. It is intended to encourage innovation and leadership in these areas.

15. Siebel Scholars Program
- The Siebel Scholars Program is a prestigious award recognizing the most talented MBA students in the world. Siebel Scholars are selected based on their academic and leadership achievements. The program provides financial support and networking opportunities.

16. The Nelson Germanos Fellowship
- The Nelson Germanos Fellowship is awarded to students who have shown exceptional potential in the field of economics. It supports individuals pursuing careers in economics and related fields.

17. The University of Chicago Obama Foundation Scholars Program
- This program is a collaboration between the University of Chicago and the Obama Foundation. It supports emerging leaders who are committed to making a positive impact on their communities and the world.

18. Zmijewski Scholarship
- The Zmijewski Scholarship is awarded to students who have a strong interest in accounting and financial reporting. It is intended to support individuals pursuing careers in these fields.

Further details about scholarships, financing, and contact of the financial aid team can be accessed here: https://www.chicagobooth.edu/mba/full-t ... ps-and-aid


Section IV: Employment Report

Top Industries for post-MBA Employment
Year	Consulting	Financial Services	Technology	Healthcare	Consumer Products
2022	35.5%	35.1%	14.9%	4.1%	2.2%
2021	34.4%	27.0%	22.9%	3.3%	4.4%
2020	38.2%	30.3%	16.3%	3.5%	4.8%
2019	33.7%	31.3%	20.7%	1.0%	4.3%
2018	31.0%	31.6%	20.3%	2.1%	4.3%

Employment report for 2023:

Employment Profile
Category	Percent of Class	Number of Students
Seeking Employment	83.9%	527
Not Seeking Employment	14.2%	89
Sponsored	9.1%	57
Starting Own Business/Entrepreneur	4.1%	26
Continuing Education	0.8%	5
Postponing Job Search	0.2%	1
Not Responding to Survey	1.9%	12
Total Graduates	100.0%	628

Job Offers
Category	At Graduation	By Three Months Post Graduation
U.S. Citizens/Permanent Residents	88.8%	94.4%
International Graduates	95.2%	97.9%
Total	91.1%	95.6%

Function-wise Employment Report I
Function	Percent	Number	Minimum	Maximum	Median	Median
Finance	33.2%	165	$70,000	$247,500	$175,000	$39,100
General Management	5.2%	26	$100,000	$300,000	$145,000	$42,570
Marketing	3.6%	18	$115,000	$185,000	$128,000	$34,957
All	100.0%	497	$70,000	$300,000	$180,000	$33,000

Function-wise Employment Report II
Function	Percent	Number	Minimum	Maximum	Median	Median
Consulting	39.4%	196	$79,000	$200,000	$192,000	$30,000
Investment Banking	15.5%	77	$135,000	$225,000	$175,000	$50,000
Product Management (Tech)(3)	8.7%	43	$100,000	$225,000	$165,000	$35,000
Private Equity(3)	7.8%	39	$120,000	$247,500	$169,000	Insufficient data(1)
Corporate Strategy/Strategic Planning(3)	4.4%	22	$115,000	$184,000	$150,000	$25,000
General Management(3)	4.2%	21	$100,000	$300,000	$143,500	$35,000
Venture Capital	3.4%	17	$70,000	$225,000	$150,000	Insufficient data(1)
Brand/Product Management(3)	3.0%	15	$115,000	$157,000	$128,000	$30,000
Company Finance (Analysis/Treasury)	2.4%	12	$130,000	$190,000	$150,000	Insufficient data(1)
Investment Management/Research	2.2%	11	$135,000	$195,300	$177,500	$50,000
Law	1.6%	8	$215,000	$235,000	$215,000	Insufficient data(1)
Operations - Production/Supply Chain Mgmt/Logistics(3)	1.6%	8	$135,000	$200,000	$142,800	$60,000
Business Development(3)	1.4%	7	$100,000	$165,000	$151,750	Insufficient data(1)
Project Management	1.0%	5	$142,800	$150,000	$145,000	$15,000
Analytics/Data Science	0.8%	4	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Real Estate	0.8%	4	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Sales	0.6%	3	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Sales & Trading	0.4%	2	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Commercial Banking/Lending	0.2%	1	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Private Client Services	0.2%	1	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
Risk Management	0.2%	1	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)	Insufficient data(1)
All	100.0%	497	$70,000	$300,000	$180,000	$33,000

Region-wise Employment Report
Region	Percent	Number	Median
United States	93.2%	463	$185,000
Midwest	29.8%	148	$190,000
Northeast	27.2%	135	$175,000
West	22.3%	111	$175,000
Southwest	6.0%	30	$192,000
Mid-Atlantic	4.0%	20	$175,000
South	3.8%	19	$190,000
International	6.8%	34	$123,952
Asia	2.8%	14	$131,000
Latin America and the Caribbean	2.0%	10	$111,328
Europe	1.2%	6	$114,000
UK	1.0%	5	$114,000
Canada	0.6%	3	Insufficient data(1)
Middle East and North Africa	0.2%	1	Insufficient data(1)
All	100.0%	497	$180,000

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