The 2020 Top Business Schools in Pennsylvania
If you are searching for the top 2020 Business Schools in Pennsylvania, look no further. MetroMBA has provided a list of the best graduate business programs that prospective applicants should consider. Philadelphia and Pittsburgh offer diverse industry opportunities for someone attempting to re-locate, researching, or expanding their career opportunities. Additionally, you can utilize the MetroMBA Program Search Tool if you are looking to compare these schools and programs side-by-side. The tool allows you to sort by categories that include tuition and GMAT/GRE requirement.
University of Pennsylvania – Wharton School of Business
The Wharton full-time MBA is one of the most prestigious MBA programs globally, consistently ranking in the top 3 per major publications. The campus is located in Philadelphia, with the opportunity to study for one semester in San Francisco by an application. The program takes roughly 20 months to complete, including a 3.5-month internship, which is recommended by Wharton. Students have the choice of 18 majors, with approximately 40% of students completing their degree with two majors. Upon graduation, students earn a starting salary range between $130,000 to $165,000 per year. In addition, Wharton MBA’s have an average signing bonus of $30,000, making this one of the most lucrative post-MBA compensations for graduates.
All MBA programs at the Wharton School of Business:
Carnegie Mellon University – Tepper School of Business
The Tepper School of Business is located in Pittsburgh, Pennsylvania. They offer three MBA programs including the Full-Time MBA, the Part-Time Hybrid MBA, and the Part-Time Flex MBA. The Tepper Full-Time MBA recently became a STEM-designated program, which provides students the ability to lead at the intersection of business and technology. The full-time MBA at Tepper consistently ranks among the top 20-25 MBA programs according to major publications. Full-Time MBA graduates earn an average starting salary of over $126,000 according to the class of 2019, with 94% of their class securing job offers within three months of graduation.
The Part-Time Hybrid MBA is ranked as a top 5 online MBA program according to U.S. News. Additionally, this program is also STEM-designated, offering students a unique online convenience of learning from anywhere, coupled with in-person experiences. This program focuses on an unmatched emphasis on analytics, leadership development and strategic decision-making, designed to prepare students for a long and successful career as an agile leader in a world driven by innovation and technological advancements.
All MBA programs at the Tepper School of Business:
Full-Time MBA, Part-Time Online Hybrid MBA, Part-Time Flex MBA
The Penn State University – Smeal College of Business
The Penn State Smeal MBA ranks among the top 20 public MBA programs in the nation according to various news outlets including Bloomberg Businessweek, The Economist, Financial Times, Forbes, and US News & World Report. In addition, the Smeal College of Business also offers an Executive MBA located in the heart of Philadelphia, which only takes 17 months to complete. The Penn State Smeal EMBA is the highest-ranked Philadelphia-area program and one of the top programs in the Mid-Atlantic according to the latest assessment from The Economist. The Full-Time Residential program is located in State College, Pennsylvania also ranking among the best in the world according to the latest assessment from The Economist. Average starting salaries for the class of 2019 received $109,000 in compensation, making the Smeal College of Business a top 6 program for pre-MBA salary increase.
All Programs at the Penn State University – Smeal College of Business:
Full-Time Residential Program, Executive MBA in Philadelphia, Penn State Online MBA
University of Pittsburgh – Katz School of Business
The Katz School of Business is located in Pittsburgh, Pennsylvania. The school is known for providing a strong, wide-based foundation in business fundamentals and empower students to tailor a program that builds on their unique strengths and goals. The Katz School of Business was ranked #1 in “Years to Payback” an MBA Investment among All U.S. Universities according to Forbes Best Business Schools Ranking in 2019. Additionally, they also received the #3 ranking in Corporate Social Responsibility among All U.S. Universities according to the Financial Times MBA Ranking in 2020. The Katz School of Business offers a wide-range of MBA programs including the One-Year MBA, the Two-Year MBA, the Professional MBA, the Jount & Dual Degree MBA and the MBA with Business Analytics.
All MBA Programs at the Katz School of Business:
One-Year MBA, Two-Year MBA, Professional MBA, Joint & Dual Degree MBA, MBA with Business Analytics, Executive MBA
Lehigh University – College of Business and Economics
The Lehigh University College of Business and Economics is located in Bethlehem, Pennsylvania. It is roughly one hour from Philadelphia and 90 minutes from New York City. This makes Lehigh an ideal destination for prospective students. Lehigh is best known for its online FLEX MBA, which is ranked as a top 20 online MBA according to US News & World Report in 2020. The Flex MBA is ideal for those who want to earn their degree part-time. Both on-campus and online options are available.
All MBA Programs at the Katz School of Business:
Additional Resources
School vs. School: Pittsburgh Katz vs. Penn State Smeal
When it comes to business education, the Keystone State is no doubt best known for the perennially top-ranked Wharton School. But the creme de la creme comes with a hefty price tag. So, what about those who desire a great business school education without breaking the bank?
Continue reading…Finding the Most Affordable Pennsylvania Business Schools
You don’t just head to Pennsylvania for the rolling hills or cheesesteaks. No, you can head there to grow your business schools by taking on an MBA program. The state has easy access to many financial hubs: New York City and Washington, D.C., among them. It’s also got plenty of affordable MBA options for those trying to start their business career.
Continue reading…The Top Deferred Enrollment MBA Programs
In the past several years, we’ve seen more and more leading business schools offering deferred enrollment MBA programs.
Traditionally, full-time work experience has been a requirement for acceptance into a leading MBA program, with students averaging five years of professional experience at the time they begin their graduate studies.
Most deferred enrollment programs still require work experience—the difference is that students can gain this experience after they earn admission. Deferred enrollment MBA programs guarantee college seniors (and sometimes graduate students) a spot in their MBA programs, allowing them to enroll two to five years after they graduate from college. This allows students to focus on their work experience with their MBA plans already in place.
Read on for information about deferred enrollment programs at:
- Berkeley Haas
- Chicago Booth
- Columbia Business School
- Harvard Business School
- MIT Sloan
- Northwestern Kellogg
- Stanford GSB
- UVA Darden
- The Wharton School
- Yale School of Management
How Deferred Enrollment Programs Work
“This type of program is for those who know that an MBA program is something they want to pursue in the future. Not directly after their undergraduate degree (in most cases), but a couple of years later,” explains Alex Brown, an MBA admissions expert at Clear Admit.
Ambitious undergraduate students apply to b-school during their senior years and then receive a promise of a seat in a future cohort. Typically, they are required to gain two to five years of full-time work experience between being accepted and starting an MBA. Once they do enroll, they join the same MBA cohort as those admitted through the traditional application process.
“Applying and gaining admission during college helps reduce the uncertainty of their plan going forward. So rather than entering an analyst program at a consulting firm, for example, with the hope of gaining admission to a top MBA program after a few years, new graduates can enter the program knowing they have an MBA option already,” says Alex. “Of course, it doesn’t stop them from changing their minds, or pursuing other MBA options and forgoing the early admission.”
These deferred enrollment programs are ideal for candidates with established leadership skills. Typically, candidates have outstanding internships, strong academic credentials, and high test scores when they apply. “Also, these candidates are still typically early in their career arch when they start their MBA programs. But, it makes sense if they are focused and really understand how the MBA program will help develop their career further,” explains Alex. “It’s good for candidates with focused career goals.”
Additionally, it’s worth noting that deferred admissions MBA programs are open to applications from students of all academic backgrounds. In addition to the finance, business, and economics majors, who are well represented in the traditional MBA applicant pool, deferred enrollment programs welcome those from a STEM or humanities backgrounds. Whatever their major, the key for applicants is to have a solid plan for the future and a good sense of how an MBA fits into that plan.
Deferred Enrollment Programs at a Glance
So, what are some of the top deferred enrollment programs and how do they vary?
At a glance, the structure of most deferred enrollment MBA programs are similar. All but Yale SOM are two years in length and place students in the same cohort as the full-time MBA. On the other hand, the Yale Silver Scholars program is three years in length, with the first and third year being the same as the standard MBA and the second year being an extended internship. The reason behind this difference is that the program accepts candidates directly after their undergraduate career without any work experience.
The rest of the programs require that students gain two to five years of full-time work experience before they start their MBA studies. However, in some cases, work experience is not required if the student is currently completing another graduate degree (this is the case for Stanford’s program).
“Generally, the students co-exist in the same program” as those admitted through the traditional process, explains Alex. “Younger students might have more energy and enthusiasm, older candidates might have more experience and insights. It can become a great blend for an academic experience.”
Another key distinction is eligibility; the Haas Accelerated Access and Wharton Moelis programs are only open to UC Berkeley and University of Pennsylvania students, respectively. In 2019, Wharton added another deferred admissions program for students from any institution, not just Penn. MIT Sloan allows MIT students with an undergraduate GPA of 4.25 to waive the GMAT, and UVA Darden, Haas, and Wharton all offer scholarships for their deferred programs.
Deadlines for each of these programs tend to fall April, around the Round 3 MBA application deadlines.
Inside the Deferred Enrollment MBA Programs at Leading Business Schools
Here’s a deeper look at the details of each school’s deferred enrollment MBA structure, eligibility, and application requirements.
Berkeley Haas Accelerated Access
The Berkeley Haas Accelerated Access program is currently only open to UC Berkeley undergraduate and graduate students in their final year of study—though there are plans to expand to the rest of the University of California and beyond in the future. The program offers early conditional admission into the Full-Time MBA program with the ability to defer for two to five years to gain professional experience. There are two application deadlines—one in April and one in June—with an application process very similar to the full-time MBA program, except the application fee is waived.
Application requirements include the application form, university transcripts, two short essays, two recommendations, a resume, and the GMAT or GRE. Interviews are then conducted by invitation only. Accepted candidates must make a $500 deposit.
To celebrate the launch of Accelerated Access, up to five $100,000 scholarship awards will be available for students applying in 2020. Upon matriculation, candidates will be eligible for other scholarships and dual degree programs.
Chicago Booth Scholars Program
The Chicago Booth Scholars program is a deferred MBA program for promising candidates looking to secure a seat in a future Chicago Booth full-time MBA cohort. It’s open to undergraduates from any institution in their senior year, and grants admits a two to four-year deferment before they begin the full-time MBA program. While working full time, students have the opportunity to engage with Booth and explore the University of Chicago community. If candidates prefer to continue working after four years, they have the opportunity to enroll in the Evening or Weekend MBA programs.
Applications are due in April, and are similar to the full-time MBA application. Application requirements include a data form, short answers, an essay, two recommendations, unofficial transcripts (official copies required of admitted students), and professional resume. International students must take the TOEFL, unless their undergraduate degrees were conducted in English. All applicants must take the GMAT or GRE; there is no preference given to either test. Interviews are then conducted on an invitation only basis.
Columbia Business School Deferred Enrollment Program
The Columbia Business School Deferred Enrollment program is open to undergraduate and Master’s students who apply during their final years of study. (Students enrolled in Ph.D. programs, law school, or medical school are not eligible.) Once accepted, they can take two to five years to enter the workforce, and start the full-time MBA program when it’s right for them. To begin the program, candidates simply send the school a letter of intent to Columbia indicating whether they want to enroll in January (16-month program) or August (20-month program with summer internship). Admitted students gain access to conferences, events, and school-wide resources prior to matriculating.
Applications are due by mid-April, and requirements include a data form, short answer questions, an essay, two recommendations, academic transcripts, and professional resume. All applicants must take the GMAT, Executive Assessment, or GRE within three weeks of applying. Interviews are then conducted on an invitation only basis. CBS releases decisions on a rolling basis, within two weeks of the interview.
In 2019, 114 candidate were admitted to the CBS Deferred Enrollment Program. Their GMAT scores ranged from 640-790, and GPAs ranged from 2.92-4.0. Forty-nine schools and 11 countries were represented in this incoming class.
Harvard Business School 2+2 Program
Harvard’s 2+2 program is perhaps the best-known deferred MBA. Candidates apply in their final year of undergraduate or graduate school, then spend a minimum of two years (maximum of four) working full-time before they begin Harvard’s full-time, two-year MBA program. This program is open to students who plan to work in the public, private, or nonprofit sector, with preference given to applicants planning to work in an operating company (tech, manufacturing, consumer goods, retail, industrials, etc.), from a lower socio-economic background, going into a technically demanding role, or pursuing entrepreneurship. Students enrolled in Ph.D. programs, law school, or medical school are not eligible; they should apply through the regular MBA admissions process.
The application is essentially the same as for the traditional MBA program, though the application fee is $100 instead of $250. The application fee is waived for active duty military applicants. The admissions deadline is in April. Candidates may enter the full-time MBA program once they have met work experience requirements.
More than 1,400 candidates applied to be a part of the Class of 2023, and 115 students ultimately committed to the program. Their GMAT scores ranged from 590-790, and their average GPA was 3.79.
Kellogg Future Leaders
Northwestern Kellogg’s Future Leaders program is open to any undergraduate student in their final year of school, as well as Master’s students who began their graduate programs directly after undergrad. Students enrolled in Ph.D. programs, law school, or medical school are not eligible; they should apply through the regular MBA admissions process.
Successful applicants defer their enrollment at Kellogg for two to five years, during which time they are expected to gain relevant work experience. Candidates may also reassess which MBA program to join; while applicants are accepted into the full-time two-year MBA program, they can also choose the Evening & Weekend or One-Year program. They may also expand their plans to consider the JD-MBA or MMM, though those require admission to the other Northwestern schools.
The application requires brief essays, a recommendation, and an interview by invitation; the TOEFL and GMAT/GRE are also conditional requirements. Non-native English speakers must take the TOEFL, unless their undergraduate studies were conducted in English. Northwestern undergraduates do not have to take the GMAT/GRE, but it is required for all other students. While there is no application fee, admitted candidates need to make an initial deposit of $500, then $500 for every year of deferment; these funds ultimately apply to tuition when they matriculate.
MIT Sloan MBA Early Admission
The MIT Sloan MBA Early Admission program is open to any exceptional undergraduate student during the year that they are graduating. Graduate students without full-time work experience may also apply. Between being accepted and starting the program, candidates are expected to seek two to five years of full-time work experience.
Applications are due in April, and requirements include a data form, cover letter, video statement, two recommendations, academic transcripts, and professional resume. All applicants must take the GMAT or GRE, but MIT students can waive the GMAT or GRE if they have a GPA above 4.2. Interviews are then conducted on an invitation-only basis. The application fee is waived for all candidates.
Stanford GSB Deferred Enrollment
The Stanford GSB Deferred Enrollment program is open to undergraduate students who want to begin their MBAs immediately after their senior year. However, students are encouraged to defer for one to three years to gain work experience (two-year deferrals are most common). They can apply during any of GSB’s three application rounds, and can choose which year’s MBA cohort they would like to enter. If they decide to defer for one to two years, they can apply for specific fellowships the year before starting their full-time MBA.
Those eligible for deferred enrollment have their application fee reduced to $100.
UVA Darden Future Year Scholars Program (FYSP)
The UVA Darden FYSP program is open to undergraduate students in their final year, as well as Master’s students. Candidates can apply in January, April, or August. Once admitted, they then go on to gain two to four years of work experience while also gaining access to the Darden alumni community for mentorship, networking, and individualized career support. Then, once ready, candidates join the regular full-time MBA program.
The application requires a GMAT, GRE, MCAT or LSAT score, but applicants are encouraged to take the GRE or GMAT before matriculating. Applicants must also submit a resume, transcripts, an essay, and two letters of recommendation. While there is no application fee, admitted candidates need to make a deposit of $500 for every year of deferment; these funds ultimately apply to tuition when they matriculate.
Wharton Advance Access Program
Undergraduate seniors and graduate students from any institution outside of Penn can apply early for the Wharton MBA through the Advance Access Program. Accepted applicants receive special professional development and career services support, as well as access to the Wharton community including annual retreats and mentoring. Applicants may apply in their senior year during Round Three of the MBA admission timeline, and are evaluated similarly to the overall MBA applicant pool. Candidates defer for two to four years of work experience, and then join the regular two-year, full-time MBA program when they’re ready.
University of Pennsylvania undergraduates, specifically, can apply through the Wharton Moelis program. The benefits mirror those of the Advance Access program, with the added potential for a $10,000 yearly fellowship (or more, based on merit).
While the application fee for the Moelis program is waived, applicants through the Advance Access program must pay a reduced application fee of $100. The application requirements for both options include unofficial transcripts, GMAT or GRE score, a resume, two letters of recommendation, two essays that are the same as the general MBA application, and interviews (Team-Based Discussion & one-on-one). Admitted candidates through either program need to make a deposit of $1,000 at the beginning of June of the year they are accepted, and then another deposit of $1,000 when they decide to matriculate. The school also expects yearly affirmation of intent to attend the program, as well as verification of work experience.
Yale SOM Silver Scholars
Students admitted to the Yale Silver Scholars program start their MBA studies immediately after college graduation. Candidates spend one year completing the core curriculum, and then undertake an extended full-time internship in year two. Then, during the third year, they return to Yale SOM to complete their degree with MBA elective courses. Students are fully integrated into the Yale SOM MBA class, but they have special programming and career development support that’s tailored to them. Candidates apply during their senior years of college.
Applicants complete the same online application as regular enrollment candidates, with nuances in the Work Experience and Activities sections of data form. Yale notes that only college seniors are eligible to apply, and they must submit two letters of recommendation. If invited to interview, candidates will meet with one or more members of the Silver Scholars committee.
This article has been edited and republished from its original source, Clear Admit.
Indiana, UNC Keep Top Spot in New U.S. News Online MBA Ranking
One year after the University of Indiana Kelley School of Business and University of North Carolina Kenan-Flagler Business School grabbed the top mantle in the U.S. News & World Report “Best Online MBA Programs” list, the two schools managed to hold the first spot yet again in the publication’s updated 2020 Online MBA ranking.
Continue reading…Philadelphia or Pittsburgh: Which City Should I Choose?
Pennsylvania’s two major cities—Philadelphia and Pittsburgh—are key geographic connectors and historical seats of political and economic influence in the U.S. These two urban centers have much to offer those moving to the next stage of their career. In this installment of Which City Should I Choose? we compare Philadelphia and Pittsburgh so you can decide which city is a better fit for you.
Continue reading…