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Newyork University Leonard N.Stern School of Business
NYU Stern School of Business
The
Leonard N. Stern School of Business is New York
University's (NYU) business school. It was named after
Leonard N. Stern,an alumnus and benefactor of the
school. The school was established in 1900 as the NYU
School of Commerce, Accounts and Finance. It is
considered to be one of the top business schools in
the United States. The school is located on NYU's
Greenwich Village campus.
About the School
Kaufman Management CenterAs of 2004, 2,288 students
are enrolled in Stern's undergraduate program and
2,467 are enrolled in its Master of Business
Administration program. There are 206 full-time
faculty and 59 adjunct professors.
Stern offers a broad spect
rum of academic programs at
the graduate and undergraduate levels. The school is
located on West 4th Street, occupying Shimkin and
Tisch Halls and the Kaufman Management Center, on
NYU's Washington Square campus. Possible majors
include Marketing, Finance, Actuarial Science,
Economic Policy, Economic Theory, Accounting (CPA and
General) and others, as well as a host of co-majors
such as International Business, Information Systems,
Financial Systems, and a certificate program in
Entertaiment, Media and Technology.
Students who attend the Stern School of Business are
sometimes called "Sternies," a nickname used by both
Stern students and those from other NYU schools. In
the spring break of the undergraduate junior year, all
Sternies travel abroad as part of the "International
Study Project." During this time, students take part
in projects emphasizing global business and a better
understanding of another part of the world. Recent
locations include: Sweden, Chile, Japan, South Korea,
Germany, and Mexico.
The undergraduate program is consistently ranked among
the top 5, (#2 in Finance and International Business),
Stern's MBA program among the top 15 programs in the
country (# 13 U.S. News,# 7 Financial Times 2006, # 13
Business Week, #8 Economist, # 3 by research
contribution), Stern`s part-time M.B.A. program is
ranked #1 by U.S. News. (Note that rankings are often
highly disputed - see College and university
rankings). Stern also boasts an impressive recruiting
history, with exposure to nearly all the bulge-bracket
investment banks, major hedge funds, consulting firms,
and graduate schools.
History
The School was founded in 1900 as the NYU Un
dergraduate School of Commerce, Accounts and Finance
on the University's Washington Square campus. In the
same year, the first women matriculate, beginning a
long tradition of inclusiveness. In 1913 Jeanette
Hamill, J.D., M.A., joined the School's Economics
department, becoming its first female faculty member.
In 1936, women comprise 15 percent of the total
enrollment. The graduate business program was launched
in New York's downtown business district in 1916. The
School's "Wall Street
Division" serves both full-time and currently employed
students. The School awarded its first Doctor of
Commercial Sciences degree in 1928.
By 1945 school`s enrollment was well over 10,000 with
graduates hailing from 36 countries and nearly all
(then-) 48 states. In the 1960s, International
business courses were introduced and became an
important focus of the School's curricula. The School
of Commerce, Accounts and Finance was renamed the
College of Business and Public Administration in 1972.
In the same year, Tisch Hall, designed by Philip
Johnson and Richard Foster (see also: Bobst Library
and Meyer Building) opened at 40 West Fourth Street to
house the undergraduate college. In 1988, a landmark
$30 million gift from alumnus Leonard
N. Stern (BS, 1957; MBA, 1959) allowed the School to
consolidate its graduate and undergraduate facilities
at NYU's Washington Square campus. The School was
renamed Leonard N. Stern School of Business. In 1992,
Stern's new $68 million state-of-the-art facility,
today known as "Kaufman Management Center" was
inaugurated.
In 1998, a generous $10 million gift from Dr. Henry
Kaufman (PhD 1958) supported a major expansion and
upgrading of Stern's facilities. The new and renovated
space is used almost exclusively to improve the
quality of student life. Prominent investment banker
and Home Depot founder Kenneth Langone (MBA 1960)
donated $10 million to Stern in 1999. The part-time
MBA program is renamed the Langone program in his
honor. Celebrating its 100th birthday in the year
2000, NYU Stern launched a $100 million Centennial
Campaign, the School's most ambitious fundraising
effort to date. The campaign doubled Stern's
endowment, the number of named professorships, and the
level of student financial aid.
Student life
Life at Stern as an undergraduate is somewhat
different from life at the other NYU
schools, as Stern is almost a separate entity from the
rest of NYU. Although many Sternies participate in
All-Square (all university) clubs, Stern has its own
Inter-Club Council that administers various clubs open
only to Stern students, as well as its own Student
Council. Some of these clubs include: the Stern Tisch
Entertainment Business Association, Stern Focused
Business Leadership Association, the Investment
Analysis Group, Alpha Kappa Psi, Beta Alpha Psi, the
Business & Politics Group, the Management Consulting
Group, Arbitrage Analysis, and the Stern Business &
Law society.Stern students do participate in NYU's MAP
core, and close to half their courses are taken in the
College of Arts and Science.
Student Life
MBA Students also administer their own clubs, and have
an even greater variety than the Undergraduate School,
with clubs ranging from professional ethnic
associations to specific career-oriented clubs such as
the Private Equity Group, and even sports clubs like
the popular Stern Soccer Club. The MBA school also has
its own governing student body, the Stern Student
Corporation. Rumors of cut-throat competition and
back-stabbing are always afloat at Stern. One reason
for this might be the infamous Stern curve, a bell
curve grading system enacted by the school to avoid
grade inflation. However, most Stern students are
jovial and friendly and are required to cooperate by
the school`s team assignment classwork system.
Admissions
Admission to Stern is very competitive. It is
generally known that the admission rate at Stern is
lower than almost every other NYU undergraduate
school, with the notable
exception of the Tisch School of the Arts. The true
figure is unknown, as all NYU students apply for
admission through NYU, not directly to the school they
wish to attend, but estimates put it at just under
20%. The MBA school's admission rate is also low,
listed at 22.4% for 2004-2005. In 2005, the average
SAT Score of incoming freshmen at the Undergraduate
College was 1423, the average GPA was 3.77. The
incoming (full-time) MBA Student`s average GMAT score
was 699 with an average GPA of 3.4. Stern's biggest
competitors for cross admits include the Wharton
School of Business (University of Pennsylvania), the
Sloan School of Management (Massachusetts Institute of
Technology), Marshall School of Business (University
of Southern California) and the Ross School of
Business (University of Michigan).
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