UNDERGRADUATE Profiles Publish Date 2/26/09

The Pennsylvania State University

The Mary Jean and Frank P. Smeal College of Business Administration

Getting In

PROGRAM BASICS

Smeal College of Business

Penn State University
210 Business Building
University Park , Pennsylvania 16802

Public Institution

Web site

http://www.smeal.psu.edu

Program e-mail address:

uprog@psu.edu

Program telephone number:

(814) 863-1947

AACSB accredited:

Yes

Year in which the undergraduate business program was founded:

1953

Length of entire institution:

Four Year

Business program length:

Four Year

Degrees offered:

Degree/Program Name:
BS Accounting
BS Actuarial Science
BS Finance
BS Management
BS Marketing
BS Management Information Systems
BS Supply Chain & Information Systems

PROGRAM COSTS

Annual Tuition (Resident):

$ 14,904

Annual Tuition (Non-Resident)

$ 26,420

Cost per academic credit (resident)

$ 621

Cost per academic credit (non-resident)

$ 1,101

Required fees

$ 346

Books:

$ 1,200

Room and board:

$ 7,800

ENROLLMENT

Full-time undergraduate business student enrollment:

5,943

Part-time undergraduate business student enrollment:

Distance undergraduate business student enrollment:

Total College enrollment for 2008-09:

37,988

ADMISSIONS

Interviews for entire college:

Not required

Additional application requirements for entire college:

TOEFL required for international non-English speaking students. Official post-secondary transcript for students who have already completed some college level work.

Upcoming application deadlines for entire college:

Semester: Summer 2009
Deadline: 11-30-2008
Semester: Fall 2009
Deadline: 11-30-2008
Semester: Spring 2010
Deadline: 11-30-2008
Semester: Summer 2010
Deadline: 11-30-2009

Freshmen admitted into business program:

Yes

Percentage of business students admitted as freshmen:

100 %

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

Yes

Freshmen admitted by:

Indicate interest on university application

Internal transfers handled by:

Separate application

Minimum requirements for business program:

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

Interview to enter business program:

Not required

Additional application requirements for freshman admits:

Three Carnegie units of Mathematics up to Trigonometry. Two Carnegie units of the same foreign language. Four Carnegie units of English.

Minimum college GPA for internal business program transfers:

3.0

Additional requirements for internal transfers:

Complete prescribed courses in business and business related areas by the conclusion of the 4th semester.

Total number of full-time applications for entire college:

40,760

International applicants, entire college, 2008-09:

7 %

Female applicants, entire college, 2008-09:

48 %

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

51 %

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

38 %

Relative Importance of Application Elements:

Secondary School Record:

Very Important

Class Rank:

Important

Talent/Ability:

Considered

Interview:

Not Considered

Extracurricular Activities:

Considered

Volunteer Work:

Not Considered

Character/Personal Abilities:

Considered

Application Essay:

Considered

Work Experience:

Not Considered

SAT/ACT Scores:

Very Important

Recommendations:

Not Considered

High School GPA:

Very Important

Admissions program managed by:

The university admissions office

Total undergraduate business program applicants, 2008-09:

8,796

Applicants enrolled in undergrad business program 2008-2009:

53 %

Applicants admitted to undergraduate business program, 2008-09:

45 %

CLASS PROFILE

Class Profile:

Female: 39 %
International : 11 %

Entering students by age:

Mean: 18
Median: 18

Citizenship of Entering Students

U.S.: 89 %
Other countries: 11 %

Percentage of US citizens in entering class who are:

African American: 3 %
Asian American: 6 %
Hispanic or Latino American: 5 %
White (Non-Hispanic): 70 %
Chose not to report: 4 %
Other: 12 %

Entering students from the following region:

Northeast: 23 %
Mid-Atlantic: 72 %
South: 1 %
Southwest: 1 %
Midwest : 2 %
West: 1 %

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

Mean: 1221
Median: 1230

SAT middle 50% range on 1600 scale:

From: 1,150
To: 1,300

ACT Scores for full-time entering business students:

Mean: 29
Median: 28

ACT middle 50% range:

From: 26
To: 29

Percent of Students Who Were In:

Top 10% of high school class

45 %

Top 25% of high school class:

86 %

HS GPA of 3.75 or higher

70 %

HS GPA of 3.5 to 3.74:

22 %

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:

$ 7,307,650

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

$ 7,673,325

Scholarships awarded to students in the business program based on:

A combination of need and merit

Scholarship consideration process:

All candidates are considered for scholarships

Other scholarship considerations:

For need-based scholarships, students must fill out the FAFSA. All students are considered for general merit-based scholarships and grants.

Students receiving institutional scholarships for 2008-09 academic year:

24 %

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

2 %

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

25 %

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

75 %

School offers guaranteed loans:

Financial aid web site

http://www.psu.edu/studentaid/

Academics & Lifestyle

PROGRAM BASICS

Business students who graduate within four years:

84 %

Business students who graduate within 6 years:

98 %

Freshman retention rate:

92 %

PROGRAM REQUIREMENTS

Credit hours required for graduation:

Degree: BS
Hours: 120
Degree: BS
Hours: 130

Other degree requirements:

Foreign Language and Global Education requirements. Discipline specific Intensive Writing course. Ethics course. Capstone Business Analysis course.

ACADEMICS

Average class size in required business courses:

Average class size in business electives:

Average class size in non-business electives required for admission to business program:

Class size:

Classes with fewer than 20 students: 7 %
Classes with 21 to 50 students: 78 %
Classes with more than 50 students: 16 %

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

31 %

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

0 %

CURRICULUM

Number of elective courses available in business program:

Electives added current year:

Forensic Accounting
Quantative Analysis for Business Decision Making
Nittany Lion Fund Manager
Enterpreneurial Development and Management of a Game Video
Negotiation Strategies

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

2007

Leading areas of study:

Accounting

Finance

General Management

Marketing

Supply Chain Management

International Business, Entrepreneurship, Actuarial Science, and Business Law

Special programs for business students:

Minors in Business Law, International Business, and Information Systems Management. University Honors Program and a college accelerated curricular/leadership program.

Business program offers work study or co-op opportunities:

Yes

Multiple opportunities exist for students seeking co-ops and internships. The Smeal College offers an internship/co-op program to all business students. Several academic departments manage their own specialized internship/co-op programs. In addition to the college and department programs, students can participate in the University's internship/co-op programs sponsored by the University Office of Career Services.

Business program offers study abroad opportunities:

Yes

Study abroad program description:

Annually over 425 Smeal College students study abroad in approximately 65 programs located in 31 countries. These opportunities are co-sponsored by the Smeal College of Business and the University's Office of Education Abroad. Students can study abroad for a full academic semester or for six weeks in the summer.

Volunteer work and community service opportunities:

Yes

Volunteer opportunities description:

Smeal’s business fraternities and student organizations participate in a broad range of local community service activities and organize their own service activities to assist local, national, and international charities. The centerpiece of student volunteerism at Smeal is the annual Penn State IFC/Panhellenic Dance Marathon (THON), which is the largest student-run philanthropy in the world. In 2008, THON raised more than $6.6 million for the fight against pediatric cancer

Business clubs and extracurricular activities:

Over 30 Business Clubs Fraternal Business Groups and Honorary Scholastic Organizations are open to business students
Students compete in an annual CEO simulation competition co-sponsored with the Center for Strategic and International Studies in Washington DC
Student teams participate in annual Case Competitions at Johnson & Johnson University of Arizona University of Southern California and Syracuse University
Students can live in the on-campus Business and Society Interest House (BASH)
Students help plan manage and participate in an annual Women in Business Conference sponsored by the Smeal College
Student teams compete annually in the Nationwide Insurance Biz Quiz competition held at the Ohio State University
Students plan and manage the annual Smeal College conference on leadership and inclusion known as START (Striving Towards Awareness and Respect for Tomorrow)
A student-managed investment fund called the Nittany Lion Fund provides Smeal students with the ability to connect to real-world investors while in school

FACULTY

Faculty:

Full-time faculty : 136
Adjuncts and visiting faculty: 20
Permanent/tenured professors: 88
Percentage of permanent/tenured professors who are women: 21
Percentage of permanent/tenured professors who are underrepresented minorities: 6
Percentage of permanent/tenured professors who are also members of company boards of directors or of advisors: 0
Percentage of permanent/tenured professors who are business owners: 0

Prominent faculty:

Jeff M Sharp
Joseph Randy Woolridge
Robert Novack

STUDENT LIFE

Largest on-campus organizations for business students:

Penn State Marketing Association
Women in Business
Penn State Investment Association
Financial Management Association
Supply Chain Management Association

Freshmen are required to live on campus:

Yes

Business students are grouped in learning communities:

Yes

TECHNOLOGY

Wireless network available:

Yes

Technological improvements made in the last three years:

Digital Commons media creation space. This is a studio space that allows students to create digital projects (video & audio). The Online Advisor Scheduling System – allowing students to make advisor appointments online. SmealConnect – online social networking that is only available to Smeal faculty, staff, students, & alumni. Enhanced use of blogging, podcasting, and iTunesU. WikiSpace – for real time online classroom collaboration. Web based orientation training site allowing incoming first-year students to better understand the first year testing and advising program.

Trading laboratory available:

Yes

Alumni Affairs & Careers

ALUMNI

Total number of undergraduate business program graduates since inception:

60,718

Total living alumni:

59,360

Percent of alumni who gave, 2007-08 academic year:

20 %

Mean alumni gift 2007-08:

$ 768

Median alumni gift, 2007-08:

$ 100

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

Prominent alumni:

Name: Patricia A. Woertz
Title: Chairman, President and CEO, Archer Daniels Midland Co.
Name: John P. Surma
Title: Chairman, President and CEO, United States Steel Corp.
Name: William Schreyer
Title: Chairman Emeritus, Merrill Lynch & Co., Inc.

CAREER SERVICES

Percent of 2008 graduates who provided employment information:

48 %

Seeking full-time employment in business: 96 %
Not Seeking full-time employment in business: 4 %

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

341

Companies that posted full-time job offers/positions on school job boards, previous academic year:

711

Other activities and services provided for business majors:

Career Counseling/Coaching Resume and Cover Letter Critiques Mock Interviews and Training Job Search and Negotiation Coaching Alumni Networking Program (Lion Link) Employer Directories Largest East-Coast Career Fair On-line Job Postings On-campus Interviews Professional Development Workshops Internship and Co-Op Programs

Job offer results, 2008 graduates:

Received first job offer by graduation: 86 %
Received first job offer in three months following graduation: 5 %
Received first job offer more than 3 months after graduation: 5 %
Did not report having received a job offer: 4 %
Accepted first job offer by graduation: 70 %
Accepted first job offer in three months following graduation: 21 %
Accepted first job offer more than 3 months after graduation: 5 %
Did not report having accepted a job offer: 4 %

Top hiring firms:

PepsiCo Inc.
Kimberly-Clark
International Bus. Machines
Booz Allen Hamilton
PricewaterhouseCoopers
Deloitte Touche Tomatsu
Philip Morris
Ernst & Young
KPMG LLP
General Electric
Johnson & Johnson
Merrill Lynch
Target Corp.
Bank of America Corp.
JPMorgan Chase & Co.

Manhattan Associates
Lockheed Martin
Bearing Point, Inc.
Macy's
Norfolk Southern
Lowes

Graduate compensation:

Mean base salary: $ 51,700
Median base salary: $ 52,000
Mean signing bonus: $ 4,500
Median signing bonus: $ 4,250

Grads accepted jobs in following functional areas:

Consulting: 9 %
Finance/Accounting: 41 %
General Management: 6 %
Human Resources: 2 %
Management Information Systems: 2 %
Marketing/Sales: 15 %
Logistics/Transportation: 18 %
Other: 7 %

Grads accepted jobs in following industries:

Accounting: 18 %
Consumer Products/Retail: 14 %
Consulting Services: 10 %
Financial Services: 17 %
Government/Education: 3 %
Pharma/Biotech/Health: 5 %
Manufacturing: 3 %
Media/Entertainment: 2 %
Sports/Leisure: 1 %
Technology/Science: 6 %
Transportation: 2 %
Other: 19 %

Percentage of job acceptances, US and Canada:

US: 100 %

Grads accepted jobs in the following US regions:

Northeast: 25 %
Mid-Atlantic: 56 %
Midwest: 7 %
South: 5 %
Southwest: 4 %
West: 2 %
US Possessions/Territories: 1 %

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

388

Internship postings on job boards, previous academic year:

521

Top internship recruiters, 2007-08:

Johnson & Johnson
KPMG LLP
Merrill Lynch
PricewaterhouseCoopers
Ernst & Young
Goldman Sachs Group
General Electric
Deloitte Touche Tomatsu
Philip Morris

Kohl's
Bristol Myers Squibb
Dick's Sporting Goods
Reznick Group
Hershey Foods
University of Pittsburgh Medical Center - UPMC

Percentage of internships that were paid, previous academic year

89 %

Mean internship compensation per week:

$ 692

Median internship compensation per week:

$ 640

Average internship, in weeks:

Graduate Comments

In speaking with my former high school classmates who have gone on to more expensive private programs around the country, I have found that not only is my education comparable to theirs, but in some aspects, superior, and all for tens of thousands of dollars less.

Penn State needs to improve on the professors in the accounting department.

I think that Penn State does a great job in their extracurricular activities. I have been on the executive board for the Penn State Marketing Club (PSMA) for two years. I feel that I have gained so much knowledge and real-world experience through this organization. PSMA puts on a large amount of professional development opportunities such as corporate speakers for meetings, career fairs, etiquette dinners, networking sessions, etc.

The Business Building is new and beautiful. It houses the Smeal trading room where students who have been elected into an elite group, known as the Nittany Lion Fund, actually invest millions of dollars in the stock market using tools like Bloomberg to track the markets. The Smeal College of Business has certainly surpassed my expectations and I am very proud to be graduating as a Finance major from Penn State.

Smeal offers an internship Web site called Symplicity which makes the process of finding and applying for internships incredibly easy.

The business program at Penn State for the average student is very good. However, I don't think they help fulfill the needs of their top students as much as they could, although there's a certain level of responsibility those students have for paving their own way, too.

Job placement- biggest disappointment with the Smeal College of Business. The companies present at Penn State career fairs and job postings are about 90% from central Pennsylvania/Philadelphia. If you don't want to work in that region, then finding a job or internship is all up to you. Almost no help for marketing majors. Advising department was terrible. No real source of help other than getting you out of their office so they could get to the next student. I had 3 advisers in 4 years, one of whom was on holiday nearly an entire semester and consistently gave me false information that severely altered my Penn State experience. Teaching staff is great, and they are always available for help, yet there is much overlap between what is taught in different courses.

I have twice now acquired a job through the Supply Chain Career Fair, one of the many fairs that Smeal hosts. I have had great experiences and noticed a real culture of unity as well as a commitment to ethical behavior.

the alumni network is huge but that doesn't say much considering career services wont give you many names to contact.

I have had classes of 600 kids and still had one on one time with the teacher. I think that is what sets Penn State's Business Program apart. Not only does every professor hold regular office hours, but so do the TA's of the classes. If you can not make it during a scheduled time, then they will always make an appointment with you. If you are lazy and are not willing to ask for help, then yes, you will get lost in the crowd. But those who are willing to work are guaranteed to succeed here.

I do not think I could have had a better, more fulfilling college experience anywhere in the country. Penn State offered the well-rounded experience I was looking for and did not disappoint. In possibly the worse economic period since the Depression, my top five job offers are all $60,000 or greater. I have the career I was looking for and had a great time throughout my four years in school.

The professors in the Finance department all have impressive backgrounds and are extremely hard working. I will be in the Business building studying late (11PM+) and I will most of the time see a few of my professors walking around the building.

One thing to be improved is the academic advising. I chose to pursue the business school after switching from the Eberly College of Science in Microbiology. I had four advisers throughout my academic career, which were not very helpful.

Penn State is a very, very big place. You can make of it what you will. Some students become frat brothers and don't focus enough on school, and others take advantage of Penn State's world-class resources to get a truly excellent education and job. Thankfully, I mainly know people in this latter group. Most of them, I believe, are better prepared to go on Wall Street than most of our Ivy League peers given the level of business student involvement beyond the classroom (for instance, in our Penn State Investment Association).

I loved that the business school has so many clubs and groups that are linked to business. It gives us so many ways to prepare ourselves as future business leaders. There are business fraternities, investment clubs, marketing clubs, groups to help incoming freshman business students, and many other organizations that meet anyone's desires and needs when joining a group. I have personally joined a business fraternity and have learned so much about business just by being a part of the organization.

Being part of the Honors College is a slightly different experience, providing quite a few more networking and recruiting opportunities than are available to the general student population.

There is so much school spirit here. Regardless of your major, we are all proud to be called Penn Staters.