Everything about Wharton Business School totally explained
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 |
2,304 |
| Graduates |
1,671 |
| Alumni |
81,000 |
| Location |
Philadelphia, PA, USA |
The
Wharton School is the
business school of
University of Pennsylvania in
Philadelphia, Pennsylvania. It was established in
1881 through a donation of
Joseph Wharton, making it the world’s first collegiate business school.
In conjunction with the other schools and colleagues of the university, Wharton grants
B.S.,
MBA, offers a
Ph.D. program, and holds several diploma programs. With the most electives of any business school, 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. 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. Wharton usually receives the highest reputation scores from academics and recruiters.
The school has over 300 faculty members, translating to an 8:1 student-to-faculty ratio. The school, renowned for its humility, claims that its faculty are the world’s most published and most cited among business schools . 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 . 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.
The admissions process at Wharton is highly selective — it's 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 influential on-line journal, Knowledge@Wharton, that's "the envy of every other school", and a newly established publishing house
Wharton School Publishing. Wharton maintains the world's largest financial, economics, management, marketing, and public policy data warehouses accessible through state-of-the-art web-based data management services, called WRDS.
History
The Wharton School, the world’s first collegiate business school, 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."
Setting an early standard for innovation, Wharton published the first business textbooks, established the first research center at a business school, created the first center for entrepreneurship, created the first program in international management, established the first MBA in health care and real estate, and developed the first executive education program. To this day, it's regarded as one of the world's leading business and management schools, and employs the world's largest, most cited faculty with 304 standing and associate members.
Academics
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
- Accounting
- Business and Public Policy
- Finance
- Health Care Systems
- Insurance and Risk Management
- Legal Studies
|
Management
Marketing
Operations and Information Management
Real Estate
Statistics
|
Research Centers
Jay H. Baker Retailing Initiative
Pension Research Council
Center for Human Resources
Council on Employee Relations
Leonard Davis Institute of Health Economics
S.S. Huebner Foundation for Insurance
Small Business Development Center
Wharton Financial Institutions Center
Wharton e-Business Initiative
Wharton Sports Business Initiative
Wharton Center for Health Management
Wharton Center for Leadership
Wharton-SMU Research Center
|
Reginald Jones Center for Management, Strategy, and Organization
Fishman-Davidson Center for Service and Operations Management
William and Phyllis Mack Center for Technological Innovation
Emerging Technologies Management Research Program
Risk Management and Decision Processes Center
SEI Center for Advanced Studies in Management
Sol C. Snider Entrepreneurial Research Center
Weiss Center for International Financial Research
Boettner Center for Pensions and Retirement Research
Rodney L. White Center for Financial Research
Samuel Zell and Robert Lurie Real Estate Center
Zicklin Center for Business Ethics Research
|
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. 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 don't 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 take 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.
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.
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 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, citing concerns for alumni and students' privacy. Some recent rankings were:
Further Information
Get more info on 'Wharton Business School'.
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