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The Wharton School
| Mission | Apply unparalleled intellectual resources to prepare business leaders who fuel the growth of industries and economies throughout the world |
|---|---|
| Established | 1881 |
| Official name | The Wharton School |
| University | University of Pennsylvania |
| School type | Private |
| Endowment | $691 million |
| Dean | Thomas Robertson |
| Faculty | 304 |
| Undergraduates | 2,305 |
| Graduates | 1,671 |
| Alumni | 81,000 |
| Location | Philadelphia, PA, USA |
The Wharton School is the business school of the University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton and is the world’s first collegiate business school. It is considered to be one of the world's most highly esteemed and influential business schools and is generally viewed as the premier business school at the undergraduate level.
In conjunction with the other schools and colleges of the university, Wharton grants B.S., MBA, offers a Ph.D. program,2 and holds several diploma programs. With the most electives of any business school,3 Wharton offers concentrations in Accounting, Business and Public Policy, Entrepreneurial Management, Environmental Management, Finance, Health Care Systems, Human Resource and Organizational Management, Insurance and Risk Management, Legal Studies and Business Ethics, Management, Marketing, Multinational Management, Operations and Information Management, Real Estate, Retailing, Statistics and Strategic Management.
Since the 1990s, the popular and financial press has consistently ranked Wharton as one of the world's top institutions for business education.4 Moreover, it has been ranked the best business school in the world by the Financial Times in every year in which the newspaper has ranked business schools, except for 2005, when it tied with Harvard Business School.5 Wharton usually receives the highest reputation scores from academics and recruiters.6
The school has over 300 faculty members, translating to an 8:1 student-to-faculty ratio. The school's faculty are the world’s most published and most cited among business schools.7 Research published in the peer-reviewed Academy of Management Journal ranked Wharton as top institution in the simultaneous pursuit of scholarly achievements and excellence in teaching.8 Most recently, the Chronicle of Higher Education rated Wharton's Marketing and Management departments as the first and second in the world for research productivity, respectively.9
The admissions process at Wharton is highly selective — it is one of the most competitive business schools in the U.S. A high GPA, high GMAT score, and very strong non-quantitative credentials are typically prerequisites to admission.
The School publishes an influential10 on-line journal, Knowledge@Wharton, that is "the envy of every other school",11 and a newly established publishing house Wharton School Publishing. Wharton maintains the world's largest12 financial, economics, management, marketing, and public policy data warehouses accessible through state-of-the-art web-based data management services, called WRDS.
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History
The Wharton School, the world’s first business school,13 was founded in 1881 by Philadelphia industrialist and philanthropist Joseph Wharton. A native Philadelphian, Wharton became a leader in industrial metallurgy and built a fortune through his American Nickel Company and Bethlehem Steel Corporation. The anvil, a School symbol, reflects Wharton’s pioneering work in the metal industry. Joseph Wharton envisioned creating a new collegiate foundation that would produce educated leaders of business and government. From the beginning, he defined the goal of the Wharton School of Finance and Commerce (its original name) to be: "to provide for young men special means of training and of correct instruction in the knowledge and in the arts of modern Finance and Economy, both public and private, in order that, being well informed and free from delusions upon these important subjects, they may either serve the community skillfully as well as faithfully in offices of trust, or, remaining in private life, may prudently manage their own affairs and aid in maintaining sound financial morality: in short, to establish means for imparting a liberal education in all matters concerning Finance and Economy."
Academics
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The school has 304 standing and associated faculty, 11 academic departments and 20 research centers and initiatives. The institutional mission of the Wharton School: to apply unparalleled intellectual resources to prepare business leaders who fuel the growth of industries and economies throughout the world.
Academic Departments
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Research Centers
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Wharton MBA Program (MBA)
Nineteen majors are available to Wharton MBA students, who can also elect to pursue double majors or individualized majors. During their first year students pursue a required core curriculum. After completing the first year, electives are available. The MBA program offers nearly 200 electives within Wharton's 11 academic departments, the largest selection of any business school.14 Thousands of other University electives are also offered through other Penn schools. MBA students may also spend term time at INSEAD's Fontainebleau and Singapore campuses. Wharton also offers MBA Program for Executives which is a two-year, weekend residential program built on the same curriculum as regular MBA program. Executive program is offered in two locations: on the Wharton campus in Philadelphia and at Wharton West in San Francisco
Wharton's required pre-term includes coursework, waiver testing, and the "Learning Team Retreat". Coursework includes introductory and review courses in financial accounting, microeconomics, statistics, and financial analysis. Preparatory courses cover material not included in Fall coursework that students are expected to understand. In addition, Pre-term includes classes on business history and languages, as well as short seminars in communication skills, computing technology, trading simulations, and career management.
Offered on a quarterly schedule throughout the first year, core courses cover traditional management disciplines finance, marketing, statistics, and strategy, as well as the leadership, ethics, and communication skills needed at senior levels of management.
Academic Honors for MBA Program
The top academic honor in the Wharton MBA Program is the Palmer Scholar designation, given to the top 5% of the graduating MBA class. Students who rank in the top 20% of the graduating class after both their first and second years are awarded Graduation with Honors. Students who rank in the top 20% of their class after the first year are awarded First Year Honors.
The student (or students) with the top cumulative GPA at the end of the first-year of the MBA Program is awarded the Ford Fellowship.
Only grades earned from courses taken at Wharton qualify for academic honors. Courses taken Pass/Fail or electives taken outside of Wharton do not count towards the eligibility for academic honors, but do count towards the MBA degree.
Wharton Doctoral Programs Wharton grants PhD degrees (as opposed to some programs, which grant DBAs.) It takes approximately four to six years to complete the program. Eleven fields of specialization are offered by the program: Accounting, Business and Public Policy, Ethics and Legal Studies, Finance, Health Care Systems, Insurance and Risk Management, Management, Marketing, Operations and Information Management, Real Estate, and Statistics. The entering class of 2005 contained 34 students, half of which were U.S. citizens. The average age of an entering student is 26. All Wharton doctoral students are funded.15
International study
Options for international study and experience include Wharton's Lauder Institute, the Global Immersion Program, Leadership Ventures, Global Consulting Practicum, and exchange programs with schools in 11 countries, including an INSEAD alliance.
Undergraduate Program
Wharton consistently delivers an excellent program for the undergraduate study of business. Students are given a rounded liberal arts education while concentrating on an area of business study. Potential concentrations include Actuarial Science, Business and Public Policy, Environmental Policy & Management, Finance, Health Care Management and Policy, Insurance and Risk Management, Management, Marketing, Operations and Information Management, Real Estate, Statistics, and Transportation. Second concentrations are also available in more specialized topics such as Entrepreneurship & Innovation or Retailing. Emphasis is placed on an international perspective, aided by the geographically diverse student body. Leadership and communication skills are also an area of focus with many core classes incorporating group projects and all freshmen enrolled in MGMT 100, a course in which student teams complete a semester project benefiting a partner Philadelphia community organization.
Dual and joint degrees
Wharton MBA students may pursue a dual degree with Lauder Institute, Johns Hopkins' School of Advanced International Studies or in one of the graduate schools at the University of Pennsylvania:
- Biotech - MBA/MB with the Penn School of Arts and Sciences
- Design - MBA/MArch, MBA/MLA, MBA/MCP, MBA/MHP with Penn School of Design
- Education - MBA/MS with Penn Graduate School of Education
- Engineering - MBA/MSE with the Penn School of Engineering and Applied Science
- International Studies - MBA/MA with The Lauder Institute
- Medical Sciences - MBA/MD with Penn School of Medicine, MBA/DMD with Penn School of Dental Medicine, and MBA/VMD, MBA/PhD,and MBA/MS with Penn School of Veterinary Medicine
- Law - MBA/JD with Penn Law School
- Nursing - Nursing and Health Care Management, MBA/MSN, MBA/PhD with the Penn School of Nursing
- Social Work - MBA/MSW with the Penn School of Social Policy and Practice
Wharton Undergraduates may pursue joint degrees in engineering through the Jerome Fisher Program in Management and Technology, international business through the Huntsman Program in International Studies and Business, Nursing & Health Care Management, and a joint program in life sciences and business through The Roy and Diana Vagelos Program in Life Sciences and Management. Undergraduates may also, independent from these programs, pursue dual degrees with any of Penn's three other undergraduate schools.
Alumni network
Wharton alumni network has 81,000+ members in 142 countries around the world. There are eighty-two alumni clubs providing support to the School. In addition to the annual campus-based Wharton reunion, Wharton partners with its alumni clubs to mount three annual Global Alumni Forums around the world.
Rankings
On December 5, 2003 Wharton enacted a policy of declining to actively participate in the rankings of business school programs,16 citing concerns for alumni and students' privacy.17 Some recent rankings were:
| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | |
| Business Week (MBA/USA) | 2 | 2 | 3 | 5 | 1 | 1 | 1 | 1 | |||||||
| Business Week (Undergraduate/USA) | 1 | 1 | 1 | ||||||||||||
| Financial Times (MBA/Worldwide) | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||||
| US News (MBA/USA) | 3 | 3 | 3 | 2 | 2 | 2 | 3 | 4 | 3 | 2 | 2 | 2 | 3 | 3 | 2 |
| US News (Undergrad/USA) | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Wall Street Journal (MBA/USA) | 11 | 7 | 6 | 4 | 1 | 5 | 18 | ||||||||
| CNN Expansion (MBA/WORLDWIDE) | 3 | 3 | 3 |
See also
- Ivy League business schools
- List of United States business school rankings
- List of business schools in the United States
References
- ^ Facts at a Glance - The Wharton School of the University of Pennsylvania
- ^ The school does not grant PhD degrees. These are granted exclusively by the Graduate Division of the School of Arts and Sciences at the university
- ^ Elective information; "The Wharton School", 23.06.2008
- ^ Business school rankings; Business Week, 16.10.2000
- ^ Business school rankings; Financial Times, 22.01.2007
- ^ Best Graduate Schools; U.S.News & World Report, 27.04.2006
- ^ Faculty and Research; The Wharton School; 23.06.2008
- ^ Trieschmann, James S.; Dennis, Alan R.; Northcraft, Gregory B. and Niemi, Albert W. , Jr. "Serving Multiple Constituencies in Business Schools: M.B.A. Program Versus Research Performance." Academy of Management Journal, 2000, 43(6), pp. 1130-41
- ^ Research Productivity; The Chronicle of Higher Education, 15.10.2006
- ^ Experience Wharton: The Finest Faculty; The Wharton School, 29.05.2008
- ^ Business-school rankings; The Economist, 22.09.2005
- ^ WRDS FAQ; WRDS Website, 23.06.2008
- ^ Wharton Facts; The Wharton School, 03.05.2008
- ^ MBA curriculum; Wharton School, 01.09.2006
- ^ Doctoral Program Quick Facts; Wharton School, 01.09.2006
- ^ Why Harvard And Wharton Are Wrong; Business Week, 19.04.2004
- ^ Why Wharton and Harvard Are Missing; Business Week, 29.09.2005
Books on Wharton
- Nicole Ridgway, The Running of the Bulls: Inside the Cutthroat Race from Wharton to Wall Street, Gotham, 2005.
- Steven A. Sass, Pragmatic Imagination: A History of the Wharton School, University of Pennsylvania Press,1983.
- Emory Richard Johnson, The Wharton school: Its fifty years, University of Pennsylvania Press, 1931.
External links
Wikipedia content modification information:
- This page was last modified on 26 November 2008, at 01:52.
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