UNDERGRADUATE Profiles Publish Date 2/26/09

Cornell University

Cornell University Department of Applied Economics and Management

Getting In

PROGRAM BASICS

Cornell University Department of Applied Economics and Management

Warren Hall
Cornell University
Ithaca , New York 14853-7801

Private Institution

Web site

http://aem.cornell.edu

Program e-mail address:

aemug@cornell.edu

Program telephone number:

(607) 255-4695

AACSB accredited:

Yes

Length of entire institution:

Four Year

Business program length:

Four Year

Degrees offered:

Degree/Program Name:
B.S./Applied Economics and Management

PROGRAM COSTS

Annual Tuition (Resident):

$ 20,160

Annual Tuition (Non-Resident)

$ 35,200

Cost per academic credit (resident)

$ 970

Cost per academic credit (non-resident)

$ 970

Required fees

$ 204

Books:

$ 740

Room and board:

$ 11,640

ENROLLMENT

Full-time undergraduate business student enrollment:

712

Total College enrollment for 2008-09:

20,273

ADMISSIONS

Interviews for entire college:

Not offered

Additional application requirements for entire college:

FRESHMEN: Common Application; Cornell Supplement; SAT Subject Tests recommended in a science and mathematics (any level) EXTERNAL TRANSFERS: Transfer Common Application; Cornell Transfer Supplement; official college and high school transcripts; midterm report; results of any external exams, such as AP, IB, or A levels; completed college-level courses in macro- and microeconomics, calculus, academic writing 1 & 2 or academic writing and public speaking, and 2 intro biology courses with labs INTERNATIONAL: If English is not your first language, submit your TOEFL with TWE or IELTS test score (waivers are possible) and one letter of recommendation from an English teacher in addition to the application requirements described above

Upcoming application deadlines for entire college:

Semester: 08-27-2009
Deadline: 01-02-2009
Semester: 01-25-2010
Deadline: 11-01-2009

Freshmen admitted into business program:

Yes

Percentage of business students admitted as freshmen:

39 %

Are the freshman admits to the business program required to complete pre-business courses before beginning upper-lever courses in the junior year?

Freshmen admitted by:

Indicate interest on university application

Minimum requirements for business program:

Entrance exam requirement other than SAT/ACT for business program:

Interview to enter business program:

Not offered

Additional application requirements for freshman admits:

N/A

Minimum college GPA for internal business program transfers:

2.8

Additional requirements for internal transfers:

• Completed at least one year at Cornell at date of application • Successfully completed 1 introductory microeconomics and 1 calculus course (AP credit accepted) • Received a grade of B or better in a minimum of 2 introductory business, applied economics, or statistics courses

Total number of full-time applications for entire college:

33,073

Female applicants, entire college, 2008-09:

48 %

Selectivity--applicants admitted to undergraduate business program, 2008-09:

21 %

Yield -- applicants enrolled in undergraduate business program, 2008-09:

47 %

Relative Importance of Application Elements:

Secondary School Record:

Very Important

Class Rank:

Important

Talent/Ability:

Very Important

Interview:

Not Considered

Extracurricular Activities:

Important

Volunteer Work:

Important

Character/Personal Abilities:

Considered

Application Essay:

Very Important

Work Experience:

Important

SAT/ACT Scores:

Important

Recommendations:

Considered

High School GPA:

Important

Admissions program managed by:

The university admissions office

Total undergraduate business program applicants, 2008-09:

1,711

Applicants enrolled in undergrad business program 2008-2009:

80 %

Applicants admitted to undergraduate business program, 2008-09:

19 %

CLASS PROFILE

Class Profile:

Female: 34 %
International : 10 %

Entering students by age:

Mean: 18
Median: 18

Citizenship of Entering Students

U.S.: 90 %
Canada: 4 %
Other countries: 6 %
Unknown: 0 %

Percentage of US citizens in entering class who are:

African American: 7 %
Asian American: 14 %
Hispanic or Latino American: 6 %
Multiethnic/Multiracial : 8 %
Native American: 0 %
White (Non-Hispanic): 46 %
Chose not to report: 18 %
Other: 1 %

Entering students from the following region:

Northeast: 82 %
Mid-Atlantic: 9 %
South: 0 %
Southwest: 0 %
Midwest : 6 %
West: 3 %
Possessions and territories: 0 %

SAT Scores for full-time entering business students on 1600 scale:

Mean: 1390
Median: 1440

SAT middle 50% range on 1600 scale:

From: 1,280
To: 1,490

ACT Scores for full-time entering business students:

Mean: 31
Median: 32

ACT middle 50% range:

From: 29
To: 35

Percent of Students Who Were In:

Top 10% of high school class

73 %

Top 25% of high school class:

97 %

HS GPA of 3.75 or higher

77 %

HS GPA of 3.5 to 3.74:

10 %

FINANCIAL AID

Financial aid handled by:

Central financial aid office at the university

Institutional scholarship money distributed to undergraduate business students in previous academic year:

$ 4,048,500

Institutional scholarship money to be distributed to undergraduate business students in current academic year:

$ 5,023,000

Scholarships awarded to students in the business program based on:

Financial need

Scholarship consideration process:

Unique scholarship application

Other scholarship considerations:

N/A

Students receiving institutional scholarships for 2008-09 academic year:

33 %

Undergraduate business students with full-tuition scholarships 2008-09:

0 %

Percentage of institutional scholarship money distributed to business students based on merit, 2008-09 year:

100 %

Percentage of institutional scholarship money distributed to business students based on need, 2008-09:

0 %

School offers guaranteed loans:

Financial aid web site

http://finaid.cornell.edu

Academics & Lifestyle

PROGRAM BASICS

Business students who graduate within four years:

95 %

Business students who graduate within 6 years:

98 %

Freshman retention rate:

96 %

PROGRAM REQUIREMENTS

Credit hours required for graduation:

Degree: BS
Hours: 120

Other degree requirements:

Degree requirements are posted on the web at http://aem.cornell.edu/undergrad/degree.htm

ACADEMICS

Average class size in required business courses:

Average class size in business electives:

Class size:

Classes with fewer than 20 students: 28 %
Classes with 21 to 50 students: 44 %
Classes with more than 50 students: 28 %

Required business courses that reached maximum enrollment by the first day of class, previous academic year:

34 %

Required business courses that had waiting lists, 2007-08:

21 %

CURRICULUM

Number of elective courses available in business program:

Electives added current year:

Managing for Market-Driven Growth
Accounting for Mergers and Acquisitions
Technology and Financial Markets
Risk Management Internal Control and Assurance
International Entrepreneurship

Year of the last major change to the business program's core curriculum:

2007

Leading areas of study:

Economics

Entrepreneurship

Finance

Marketing

Other

Agribusiness Management

Special programs for business students:

Entrepreneurship@Cornell is a university-wide program for students interested in starting their own businesses or working for venture capital firms. Entrepreneurship courses are offered by all of Cornell's undergraduate colleges, the Johnson Graduate School of Management, the Law School and the College of Veterinary Medicine. The BOLD (Business Opportunities in Leadership and Diversity) Leadership Certificate Program is open to selected students interested in attaining leadership confidence and competency at the personal, group, and organizational/community level. Fellowship programs and international study trips are open to selected students specializing in agribusiness, finance, and food industry management.

Business program offers work study or co-op opportunities:

Many students gain valuable international experience by spending at least one semester, typically during the junior year, studying or working abroad. Cornell Abroad and the College's exchange program connect students with programs on every continent. Students can also spend a semester in Washington, DC, as part of the Cornell-in-Washington Program, which includes a 3-day-a-week externship in addition to coursework. Or they can take part in Cornell's Urban Semester in New York City, which also includes a 3-day-a-week internship.

Business program offers study abroad opportunities:

Yes

Study abroad program description:

Business students are encouraged to gain valuable international experience by spending at least one semester, typically during the junior year, studying or working abroad. Cornell Abroad and the College's exchange program connect students with programs on every continent.

Volunteer work and community service opportunities:

Yes

Volunteer opportunities description:

Cornell's Public Service Center helps students develop and fund volunteer and community service projects. It also coordinates a wide range of activities such as community-service trips during fall and spring breaks, an annual Into the Streets day of public service in Ithaca, Operation DEEP (a program where students give English lessons to underprivileged children in China), and Cover Africa (a program dedicated to malaria intervention in Africa.) For more information about these and many other opportunities, visit the Public Service Center's web site at psc.cornell.edu.

Business clubs and extracurricular activities:

Cornell Entrepreneur Organization (CEO)
Cornell Accounting Association
Cornell Investment Club
Minority Business Student Association
Society for Women in Business
Professional Business Fraternities
85 Broads
Mutual Investment Club of Cornell

FACULTY

Faculty:

Full-time faculty : 37
Adjuncts and visiting faculty: 10
Permanent/tenured professors: 30
Percentage of permanent/tenured professors who are women: 23
Percentage of permanent/tenured professors who are underrepresented minorities: 3

STUDENT LIFE

Largest on-campus organizations for business students:

85 Broads@Cornell
Cornell Investment Club
Cornell Entrepreneur Organization
Society for Women in Business
Mutual Investment Club

Freshmen are required to live on campus:

Business students are grouped in learning communities:

TECHNOLOGY

Wireless network available:

Technological improvements made in the last three years:

N/A

Trading laboratory available:

Alumni Affairs & Careers

ALUMNI

Single donation in excess of $10 million in 2007-08?

Prominent alumni:

CAREER SERVICES

Percent of 2008 graduates who provided employment information:

70 %

Seeking full-time employment in business: 86 %
Not Seeking full-time employment in business: 14 %

Number of companies recruiting undergraduate students on campus in previous academic year:

132

Other activities and services provided for business majors:

Resume critiques; videotaped practice interviews; counseling and advising; self-assessment tools; drop-in hours; web based on-campus recruiting program; job search workshops; alumni career link; career library; ready reference sheets that provide info on career planning and job search topics; select internship files; job postings; career opportunities newsletter; classroom presentations and assignments.

Job offer results, 2008 graduates:

Accepted first job offer by graduation: 83 %
Accepted first job offer in three months following graduation: 11 %
Accepted first job offer more than 3 months after graduation: 6 %

Top hiring firms:

Citigroup Inc.
JPMorgan Chase & Co.
Lehman Bros.
Merrill Lynch
UBS
Deloitte Touche Tomatsu
Ernst & Young
McKinsey & Company
Morgan Stanley
Deutsche Bank AG
Goldman Sachs Group
PricewaterhouseCoopers

Blackrock
Teach for America
LiveOps
Cornell University
ZS Associates

Graduate compensation:

Mean base salary: $ 53
Median base salary: $ 55
Mean signing bonus: $ 8
Median signing bonus: $ 10

Grads accepted jobs in following functional areas:

Consulting: 10 %
Finance/Accounting: 49 %
General Management: 6 %
Human Resources: 1 %
Management Information Systems: 3 %
Marketing/Sales: 16 %
Operations/Production: 1 %
Other: 14 %

Grads accepted jobs in following industries:

Accounting: 8 %
Consumer Products/Retail: 7 %
Consulting Services: 17 %
Financial Services: 39 %
Government/Education: 5 %
Pharma/Biotech/Health: 1 %
Manufacturing: 3 %
Media/Entertainment: 5 %
Real Estate: 1 %
Sports/Leisure: 2 %
Technology/Science: 5 %
Non-Profit: 2 %
Other: 5 %

Percentage of job acceptances, US and Canada:

US: 98 %
Canada: 2 %

Grads accepted jobs in the following US regions:

Northeast: 65 %
Mid-Atlantic: 11 %
Midwest: 3 %
South: 4 %
Southwest: 5 %
West: 12 %

Number of companies recruiting interns on-campus, 2007-08 academic year:

Top internship recruiters, 2007-08:

Merrill Lynch
Ernst & Young
JPMorgan Chase & Co.
Goldman Sachs Group
UBS
Citigroup Inc.
Deloitte Touche Tomatsu
PricewaterhouseCoopers
Procter & Gamble

Cornell University
Smith Barney
GF Capital Management
New York Community Bancorp
New York State Government
Farm Credit Northeast

Graduate Comments

It's very stressful and demanding most of the time, but it pays off well, as I have learned more in the past 2 years than I ever have.

The one and only problem with the undergraduate business program is our building - Warren Hall. It is in desperate need of renovation. While several of the classrooms are new, some look like they are straight out of the 1970s. They did just recently renovate Mann Library which is great because it is directly connected to Warren Hall.

This school is incredibly demanding. It�s a high stress environment that is very competitive. At the same time, many of my classes require me to work in groups, which have enabled me to develop better communications skills.

Without question, enrolling into the Applied Economics and Management (AEM) program at Cornell University has been the best decision of my life. I would not trade my undergraduate business experience over the last three and a half years for anything. It was truly an amazing experience, and it is my intention to give back to both the AEM program and Cornell University as much as possible after I graduate and enter the business world.

Cornell's business program allows an individual to get involved in many different aspects of Cornell. They can become a representative of the business program as found with AEM Ambassadors, enter into a business fraternity (we have 4 on campus), or join a club based on your likes (Consulting Club, Finance Club, Investments, etc.). Cornell's Business Program allows each student to make their own mark on the University and helps allow us to show our individuality.

Students felt the need for more current events incorporated into the curriculum, and the department responded by developing the Current Event Series. The first series, for example, was on the mortgage crisis and was host to a panel of notable speakers, including the COO of Credit Suisse.

Our business program tries to teach not only the business material but also how it is transferable within real world applications. I think this is lacking in other programs. Our program is also very challenging preparing all students for jobs in the real world.

There is a strong sense of cooperative competition within the program. While most students are highly motivated and driven, no one is really cut throat and we all want each other to succeed.

I think what makes Cornell AEM program unique is that it offers a wide variety of opportunities to gain hands-on leadership and consulting experience. I was given the opportunity to work in teams to consult for two local businesses, and the experience was invaluable. Not only did I learn how to communicate with people from different cultures, I also learned about real-life consulting and business planning.

Cornell has an amazing business program. There is a lot of focus on entrepreneurship. Also, I have had at least 10 courses that featured multiple guest speakers who spoke about their business experience. Most of the classes are taught by professors, and the professors make themselves available to answer questions, help with class material, and also provide advice for the future.

Cornell's business program does not merely excel in one area; it excels in all areas: excellent professors, the best on-campus recruiting (preparation and actual recruiting), a great advising program, diverse and challenging courses that prepare students for the future, and a collegial atmosphere.

Of all the years I could be graduating, 2009 is very difficult time for all students at business programs around the country. Knowing the state of the economy and how difficult it is to land an offer in this market, I cannot begin to tell you how comfortable I feel and how proud I am to be in the AEM program at Cornell. Because of the strength of the program and the reputation that precedes it, I was able to keep my head straight and work with the right people at Cornell to land an Investment Banking offer in these times.

Though some lectures are large, professors are readily available at office hours. My finance professor, Rich Curtis, look the time to learn each student's name in a class of a few hundred! AEM has started a current event lecture series this year which has been a great addition to the program.

The business program has taken huge efforts to allow students to network with alumni and make connections with these outstanding leaders. Over the last few years, there have been more alumni networking events. Last year one of these events brought in over 30 alumni, ranging from Goldman Sachs managers to NBC's CFO, to speak and meet with students.

The fact that it is at Cornell allows students to supplement their business interests with other interests for example, animal science or history etc. I believe this is a great advantage and allows students to be competent in a wide range of fields from business in pharmaceuticals to education.