Program Basics

• • Tepper School of Business at Carnegie Mellon University
  • David A. Tepper School of Business
  • 5000 Forbes Avenue
  • Pittsburgh, Pennsylvania
  • 15213-3890
  • United States of America
  • Program Web site: http://tepper.cmu.edu/undergraduate-business/index.aspx
  • Program e-mail address: undergraduate-admissions@andrew.cmu.edu
  • Program phone number: 412-268-2082
  • Status: Private
• • AACSB accredited: Yes
• • Year in which the undergraduate business program was founded: 1949
• • Institution: Four Year
• • Business Program: Four Year

SCHOOL BASICS

• Enrollment:

  • Total undergraduate: 6,178
  • Full-time undergraduate business: 354
  • Part-time undergraduate business: 5
  • Distance undergraduate business: 0
• • College or university freshman retention rate: 96 %

• Percentage of students who graduate from the business program:

  • Within four years of admission to the university: 79 %
  • Within six years of admission to the university: 91 %

• Undergraduate Business Degrees Offered:

  • BS/Business Administration
  • BA/Economics
  • BS/Economics
  • BS/Economics and Mathematical Sciences
  • BS/Economics and Statistics

PROGRAM COSTS

• • Annual Tuition (Resident): $43,160.00
• • Annual Tuition (Non-Resident): $43,160.00
• • Annual Required Fees: $652.00
• • Tuition Per Academic Credit (Resident): $1,797.00
• • Tuition Per Academic Credit (Non-Resident): $1,797.00
• • Annual Room and Board: $11,110.00
• • Annual Cost of Books: $1,000.00

CLASS PROFILE

• Students in newest entering class that are:

  • Female: 34 %
  • International: 6 %

• Mean and median age of full-time business students in the newest entering class:

  • Mean: 18
  • Median: 18

• Percentage of newest entering class:

  • Top 10% of high school class: 76 %
  • Top 25% of high school class: 100 %
  • GPA of 3.75 or higher: 39 %
  • GPA of 3.5 to 3.74: 39 %

• SAT scores (1600 scale) for the newest entering class of full-time undergraduate business students:

  • Mean: 1416
  • Median: 1420

• Middle 50% range of SAT scores (1600 scale):

  • From: 1350
  • To: 1490

• ACT scores for the newest entering class of full-time undergraduate business students:

  • Mean: 31
  • Median: 32

• Middle 50% range of ACT scores:

  • From: 30
  • To: 33

• Citizenship breakdown for newest entering class:

  • US: 94 %
  • Canada: 0 %
  • Other Non-US Citizens: 6 %
  • Dual Citizenship: 0%
  • Unknown Citizenship: 0 %

• U.S. citizens in newest entering class:

  • African American: 8 %
  • Asian American: 36 %
  • Hispanic or Latino American: 12 %
  • Multiethnic/Multiracial: 2 %
  • Native American: 0 %
  • White (Non-Hispanic): 37 %
  • Chose not to report: 5 %
  • Other: 0 %

• Regional breakdown of U.S. citizens in newest entering class:

  • Northeast: 32 %
  • Mid-Atlantic: 27 %
  • South: 12 %
  • Southwest: 5 %
  • Midwest: 6 %
  • West: 18 %
  • Possessions and territories: 0 %

ADMISSIONS - Getting Into the Institution

• Standardized tests required of all applicants:

  • SAT or ACT
  • SAT subject tests: Math and one other
• • Interviews are: Recommended

• Application deadlines:

  • Fall 2012 1/1/2012
• • Additional application requirements: International students whose native language is not English are required to take either the TOEFL or IELTS.
• • Total undergraduate applicants, all programs: 16,527
• • Percentage of applicants admitted: 30 %
• • Percentage of admitted applicants who enrolled: 29 %
• • International applicants: 18 %
• • Female applicants: 34 %

• Relative Importance of Application Elements

  • Secondary school record: Important
  • Class rank: Important
  • Talent/ability: Important
  • Interview: Considered
  • Extracurricular activities: Important
  • Volunteer work: Important
  • Character/personal abilities: Important
  • Application essay: Important
  • Work experience: Important
  • SAT/ACT scores: Very Important
  • Recommendations: Important
  • High school GPA: Very Important

ADMISSIONS - Getting Into the Business Program

• • Undergrad business program admissions are managed by: The university admissions office
  • Total undergraduate business applicants: 3,159
  • Percentage of applicants admitted: 14 %
  • Percentage of admitted applicants who enrolled: 21 %
• • Entrance exam other than the SAT/ACT required for admission to the undergraduate business program?: No
• • Admissions interviews for the undergraduate business program are: Recommended

• Freshman admission:

  • Does the business program admit freshmen?: Yes
  • Percentage of business program admits in most recent entering class who were freshman: 100 %
  • Are freshman business admits required to complete or obtain minimum GPAs in pre-business courses before taking upper-level courses? No
  • Process for freshmen admission?: Indicate interest on university application

• Internal transfers:

  • Method for handling internal transfers: Separate application
  • Minimum college GPA for internal transfers to the business program: 3.0
  • Additional application requirements, including course/grade requirements: Personal statement, resume, need to be enrolled in (or have completed) Multivariate Analysis

CAMPUS LIFE

• Five largest on-campus organizations for business students:

  • Students in Free Enterprise (SIFE)
  • Undergraduate Finance Association
  • Undergraduate Marketing Association
  • Carnegie Mellon Business Association
  • Undergraduate Entrepreneurship Association
• • Are freshmen required to live on campus?: Yes
  • Are business students grouped together in 'learning communities' in housing and other facilities?: No

PROGRAM REQUIREMENTS

• Minimum number of credit hours required to receive an undergraduate business degree:

  • BS 121

• Other requirements for the undergraduate business degree

  • Completion of major's curriculum, including Business core courses, breadth requirements, course prerequisites, a Business concentration (track) and a minor.

ACADEMICS

• Average class size:

  • Required business classes: 40
  • Business electives: 35
  • Non-business electives: 60

• Percentage of business classes:

  • With 20 or fewer students: 20 %
  • With 21 to 50 students: 60 %
  • With more than 50 students: 22 %

• Course enrollment:

  • Percentage of required business courses reaching maximum enrollment by the first day of class: 30 %
  • Percentage of required business courses with waiting lists: 40 %

CURRICULUM

• Electives:

  • Available business electives: 63
  • New electives: Cost Accounting
• • Last curriculum overhaul: 2008
  • Total business faculty: 54
  • Percentage of the total faculty that is tenured or tenure track: 54 %

• Most prominent faculty:

  • Dennis Epple
  • Allan Meltzer
  • Chester Spatt

• Business program's leading areas of study:

  • • Entrepreneurship
    • Finance
    • Marketing
    • Management Information Systems
    • Operations Management
• • Special programs: Wednesday Night Insight career exploration program, MBA 3/2 program, Heinz College accelerated Masters Degree programs, internal and external case competitions, study abroad, study at Carnegie Mellon's Qatar campus.
• • Work study: Work study as office assistants, and as teaching assistants for select courses. No formal co-op program.
• • Study abroad programs: The Business program has 4 exchange programs with institutions abroad. Students are encouraged to attend one of these programs or study at Carnegie Mellon's Qatar campus.
• • Volunteer opportunities: A number of Business clubs work with non-profit organizations. The major's curriculum also requires the completion of a professional service project which may include professional service.

• Extra-curricular activities:

  • Undergraduate Finance Association
  • Students in Free Enterprise (SIFE)
  • Business Technology Club
  • Undergraduate Marketing Organization
  • Undergraduate Investment Club
  • Undergraduate Entrepreneurship Association
  • Undergraduate Consulting Club
  • Tartan Capital

FINANCIAL AID

• • Who manages financial aid for the business program?: Central financial aid office at the university
  • Financial aid web site: http://www.cmu.edu/finaid/

• Scholarships

  • Scholarship money distributed to business students last year: $2,685,318.00
  • Expected scholarship distribution to business students this year: $3,740,300.00
  • Scholarships are awarded to business students based on: a combination of need and merit
  • Students receiving institutional scholarships in the current academic year: 50 %
  • Students receiving full-tuition institutional scholarships in the current academic year: 0 %
  • Institutional scholarship money distributed to undergraduate business students based on need: 88 %
  • Institutional scholarship money distributed to undergraduate business students based on merit: 12 %

• Loans

  • Does the school offer a guaranteed loan to all business students, regardless of nationality?: No

CAREER SERVICES

• Employment Information

  • Percentage of most recent business graduates who supplied information regarding employment: 98 %
  • Percentage seeking full-time professional employment in business: 85 %
  • Percentage not seeking full-time professional employment in business: 15 %

• Received first job offer:

  • By graduation: 88 %
  • After graduation, but within 3 months: 4 %
  • More than 3 months after graduation : 2 %
  • No job offer reported: 6 %

• Accepted first job offer:

  • By graduation : 88 %
  • After graduation, but within 3 months: 4 %
  • More than 3 months after graduation: 2 %
  • No job acceptance reported: 6 %

• Top employers (number of students hired):

  • Citi 5
  • IBM Global Business Services 5
  • JP Morgan Chase 5
  • UBS 5
  • Deutsche Bank 4
  • Bank of America Merrill Lynch 3
  • Capital One 2
  • Ernst & Young 2
  • Liberty Mutual 2
  • PNC 2
  • Proctor & Gamble 2
  • Viking River Cruises 2
  • Wells Fargo 2
  • Deloitte Consulting 1
  • Goldman Sachs 1

• Compensation

  • Mean base salary: $64,002.00
  • Median base salary : $65,000.00
  • Mean signing bonus: $8,056.00
  • Median signing bonus: $10,000.00

• Most recent graduates accepted jobs in the following functional areas:

  • Consulting: 16 %
  • Finance/Accounting: 49 %
  • General Management: 3 %
  • Human Resources: 0 %
  • Management Information Systems: 5 %
  • Marketing/Sales: 12 %
  • Operations/Production: 8 %
  • Logistics/Transportation: 0 %
  • Other: 7 %

• Most recent graduates accepted jobs in the following industries:

  • Accounting: 0 %
  • Consumer Products/Retail : 11 %
  • Consulting: 16 %
  • Financial Services: 59 %
  • Government/Education: 3 %
  • Pharma/Biotech/Health: 0 %
  • Manufacturing: 3 %
  • Media/Entertainment: 0 %
  • Petroleum/Energy: 5 %
  • Real Estate: 0 %
  • Sports/Leisure: 0 %
  • Technology/Science: 3 %
  • Non-Profit: 0 %
  • Transportation: 0 %
  • Utilities: 0 %
  • Other: 0 %

• Job offers accepted by most recent graduates in North America:

  • US: 100 %
  • Canada: 0 %

• Percentage of 2009-10 academic year graduates who accepted jobs in regions of US:

  • Northeast: 63 %
  • Mid-Atlantic: 15 %
  • Midwest: 12 %
  • South: 3 %
  • Southwest: 0 %
  • West: 6 %
  • Possessions and territories: 0 %
• • Career services offered: The Center utilizes a college-specific model to offer high-touch and high-tech services such as one-on-one consultations, the TartanTRAK recruiting system, and job fairs and workshops, as well as access to national networking events. The Futures in Finance program includes internship interviews and site visits in New York City. The Wednesday Night Insight series features panels of alumni, recruiters and other corporate representatives who educate and expose students to various career paths.

INTERNSHIPS

• Top internship employers (number of students hired):

  • Citi 6
  • Barclays 4
  • Deloitte 4
  • Deutsche Bank 4
  • BNY Mellon 3
  • Boeing 3
  • Carnegie Mellon 3
  • UBS 3
  • Freddie Mac 2
  • General Electric 2
  • IBM Global Business Services 2
  • PNC 2
  • PriceWaterhouse Coopers 2
  • Samsung 2
  • Standard & Poor's 2

• Internship pay

  • Internships that are paid: 87 %
  • Mean compensation, per week, for paid internships only: $904.00
  • Median compensation, per week, for paid internships only: $875.00
  • Average internship length, in weeks: 10

B-SCHOOL ALUMNI

• • Percentage of living alumni who contributed to the business program or university in the last academic year: 19 %

• Prominent alums of the undergrad business program

  • David Coulter Vice Chairman and Managing Director, Finance; Warburg Pincus LLC Financial Services
  • Jonathan Kaplan Inventor: Flip Video Camera; Founder: The Melt
  • Jeffrey Housenbold President and CEO, Shutterfly

• • -Carnegie Mellon is traditionally supposed to be a very quantitative school, while this may be true some times, this reputation definitely earns us some respect when we go into the real world and interact with people from other schools. The business program tries to develop all aspects of your personality, which include your soft skills, with classes like Business Presentation and Business Acting (two of my favorite classes here). Another aspect that I like is that there is a separate class called "Service Project", which is primarily writing a paper about all the activities that you undertook in your four years in college, and this forces students to develop their leadership skills outside of the classroom.
    
    -The workload is heavy, which I feel adequately prepares us for the future. As an intern, I often feel that I am better able to manage my time, to figure things out on my own, and to multi-task due to the fact that I have been forced to acquire these skills while at CMU.
    
    -Being a small program has its setbacks, one of which is the limited number of classes that are available to take within each concentration. In order to make my business program stronger, I would recommend having a greater number of classes.
    
    -Most of the Finance classes are with professors from a whole variety of countries, while this great in terms of diversity, it is sometimes difficult to follow these professors because of the strong accents and it gets hard to be able to pay attention and keep up with them.
    
    -Very small classes with professors that are willing to go very far out of their way to accommodate your needs. Feels more like a high-school environment because of the interactions between students and professors. Variety of expertise by professors is extraordinary.
    
    -Provide stronger career placement services to place current students and graduates in positions to grow and progress through an organization. Additionally, the school should require interviews for all students, whether they take place via phone or in-person. This would help the school filter students whose applications may look strong, but would likely falter when communicating with others. Effective communication is a vital for success in all faculties of Business.
    
    -I feel the emphasis on teamwork and people skills really makes the CMU business program one of the best. Never is there a business class in which I do not have to work in both a group and individually. That being said, the emphasis on presentations is also a great skill that is taught to us. Classes such as Business Presentations and Business Communications have been vital to my advancement as a student, because they allow me to be more comfortable in a group setting.
    
    -The majority of Tepper students fail to grasp the intermediate and difficult concepts of accounting. We do not have an accounting track and the only required accounting class is poorly taught.
    
    -The small class size allows us to meet everyone and develop strong relationships through our four years in the business program. This aids us both in the classroom during discussion and project work as well as in extracurricular activities where we have already built the necessary trust for a fully functioning team. Additionally, I have come to appreciate the requirement to explore classes outside of Tepper. I have enjoyed taking chemistry courses, multiple history and anthropology classes and expanding my interest in economics through higher level economics courses.
    
    -It is very diverse; students come from all over the world giving different perspectives. Also, it pushes students to learn subjects outside of the business program which lead me to double major in physics. A decision I have been extremely happy about since and would not have happened without their guidelines.
    
    -The Tepper School of Business, starting with the class of 2012, required its students to take on a minor as well as a major in Business Administration. My minor, Innovation, Entrepreneurship and Economic Development, has broadened my skills and has made me a more well rounded person.