Booth School of Business – The University of Chicago

Chicago Booth Full Time MBA Program Structure

The University of Chicago full-time MBA program at the Booth School of Business classes are generally completed over the course of 21 months. Students take courses at the Harper Center. The full-time MBA, unlike many other cohort or team-based programs, allows students the flexibility to schedule and prioritize their own course of study as long as they fulfill basic program curriculum requirements listed below. UChicago operates on a quarter system, with a rotation approximately every 11 weeks.

Curriculum

The Chicago Booth full-time MBA Program consists of 20 classes plus Leadership Effectiveness and Development (LEAD). Three Foundation Courses are required–students select one course from the Financial Accounting, Microeconomics, and Statistics categories, but may schedule these courses in no particular order. Six courses are required in the Functions, Management, and Business Environment Categories of Finance, Marketing, Operations, Decisions, People, Strategy, and Business Environment subject fields.

The remaining 11 courses can be tailored to personal interest in electives. Finally, all students take the LEAD program to kick-start their leadership development process during their first quarter of enrollment. Based on the particular personal curriculum selected, students are eligible for organizing their study around 14 different concentration areas of study: Accounting, Analytic Finance, Analytic Management, Econometrics and Statistics, Economics, Entrepreneurship, Finance, General Management, International Business, Managerial and Organizational Behavior, Marketing Analytics, Marketing Management, Operations Management, and Strategic Management. Although a concentration is not required, most Booth students typically fulfill between one and three of the topics depending on their particular interests and goals.

Chicago Booth offers lab courses that emphasize hands-on learning. Options in this format include:
Management Lab, which allows students to work in teams with executives at major companies on new product development, business strategy, and operational research. Recent partner companies included Honeywell International and Valspar.

The New Venture and Small Enterprise Lab has students work closely with senior management at early-stage companies on strategic and operational projects, with a unique opportunity to take their ideas to market.

The D4 Foundations teaches an entrepreneurial design method to identify pressing needs in complex problem areas, emphasizing user-centered design.

The Private Equity/Venture Capital Lab comprises 15-20 hours of interning a week at companies like Sterling Partners, Dunrath, Duchossois, OCA Ventures, Lake Capital, Essex Woodlands, Roundtable, WHI, Seneca Partners, Arch Development and Prism Capital. There is an additional classroom component as well.

The Social Enterprise Lab gives students a close look at local nonprofit and for-profit ventures that have social missions. Students then contribute strategic recommendations to leverage future growth.

Clean Tech Lab is designed to provide students a foundation in clean technology through partnerships with leading clean-tech firms and research labs.

Marketing Lab provides project based experiential opportunities in marketing research and new product development.

Healthcare Management Analytics Lab seeks to equip students with the skill set to apply date-driven analytics to identify and build healthcare delivery efficiencies. Students work on improvement projects in teams with leading world healthcare institutions and learn to bring operations theory and analytics methods into practice with faculty guidance.

The International Business Exchange Program (IBEP) allows Booth students to study abroad in 33 partner schools in 21 different countries.

Class Profile

The Chicago Booth full-time MBA class of 2018 has 585 students. It consists of 29 percent minority students, 36 percent international students, with an average age of 27.9, average GMAT of 726.3, five years average work experience, and 3.6 average GPA. Nearly 60 countries are represented in the class. The class is roughly 42 percent female and 58 percent male.

Careers

Booth Career Services provides a team of professionals for career coaching and programming. Web-based self-assessment tools are available to determine your ideal working environment and isolate your values, interests, and talents. Individualize coaching allows for important interview preparation and negotiating advice. Workshops on specific job searching hurdles, like networking, developing your personal marketing message and investigating industries and job functions are held regularly. Second-year career advisors also provide function-specific coaching to students as well as resume and cover-letter feedback and mock interviews.

Booth also offers extensive career research resources. Employment reports on previous Booth graduate hiring trends, employers, industries, and functions are available for each of the past five years. An extensive archive of previously successful resumes is available and career newsletters are constantly circulated via email to keep students apprised of up-to-date job postings and career management tactics. The Career Resources Center gives students an additional researching resource.

Chicago Booth prides itself on giving its students access to top jobs at top companies. Last year, more than 150 events including Corporate Conversations, Corporate Networking Nights, and Meet-n-Greets were held on campus, allowing students to learn about specific industries and job functions. More than 200 firms conducted on-campus interviews including Apple, Microsoft, Pfizer, Goldman Sachs, McKinsey, PepsiCo, American Express and Morgan Stanley. The Booth online job posting service saw more than 5,400 positions advertised to current students and alumni last year. Finally, students participate in around 20 “industry treks” each year both in the US and abroad to learn about specific industries of interest. These trips provide access to alumni and professionals in a wide range of industries for networking and education opportunities.

Tuition & Financial Aid

The estimated program cost of the Chicago Booth Full-Time MBA Program for 2017-2018 is $103,759. This is based on the following fees:

Tuition: 10 courses, $69,200
Student Life Fee: $1,164
Health Insurance: $4,000
Administrative Service Fee: $2,500 (first year only)
Lifetime Credentials Fee: $75 (one-time fee charged in the fall of the first year)
Books: $1,200
Rent and Utilities: $14,520 ($1,613 per month)
Food: $5,400 ($600 per month)
Personal: $3,000
Transportation: $1,500
Computer Allowance: $1,200 (first year only)

Booth requires a $3,000 nonrefundable deposit that is divided in half. The first half is paid when a student accepts their offer; the other is paid later.

Financing is available to all admitted students through student loans and merit-based scholarships and fellowships. There is no need-based financial aid at Booth.

There are three loan programs available for Full-Time MBA students who are US citizens or permanent residents: The Direct Unsubsidized Loan and the Direct Grad Plus Loan. Finally, all students can apply for private, credit-based alternative loans.

Booth offers full and partial tuition awards for exceptional Full-Time MBA students through Merit-based Awards, Chicago Booth Fellowships, and Corporate Fellowships.

Merit-based Awards do not require a formal application beyond the normal process of applying to Booth. The scholarship and fellowship committee works to identify candidates who have excellent academic, work, and community service records. The committee also takes into account intended concentration and the overall strength of the applicant pool in awarding merit-based funding from $10,000 to $30,000 per year. The awards are renewable for the two years that students are enrolled in Booth’s Full-Time MBA Program.

There are 15 Chicago Booth Fellowships available. Again, like the merit-based awards, these have no formal application process, although interested Booth applicants are encouraged to contact the Office of Admissions (7773.702.7396) for more information. Fellowships are awarded under the categories of: Academic, Diversity, Industry, Leadership, Military, Regional, and the Yellow Ribbon Program.

Admissions Procedures

To complete an application for the Chicago Booth full-time MBA program, prospective students must submit a finished online application with personal background information, two short answer essays and a personal presentation or essay, a professional resume, two letters of recommendation, unofficial transcripts from all post-secondary educational institutions attended, official GMAT or GRE scores, and a $250 application fee. International applicants must also submit TOEFL, IELTS, or PTE scores.

An interview is required for admission. They are granted on an invitation-only basis once submitted applications are preliminarily evaluated. Admissions staff, students, or alumni conduct the interviews.

Application Deadlines

Round One – September 21, 2017
Round Two – January 3, 2018
Round Three – April 3, 2018