University of Chicago Booth School of Business Review

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Posted On: April 19, 2018 by Henry R. Steele

The University of Chicago is a private college with an undergraduate population of 5,941. The university was founded in 1890. It is the #3 ranked national university according to US News and World Report. The Booth School of Business is currently tied #1 in the country with Harvard University by US News. Both a full and part time MBA are offered.

Favorite Features

Booth School of Business is a top business school

The Booth School of Business is one of the most respected business schools in the country and is currently tied with Harvard Business School as the best business school in the country. Its reputation precedes itself throughout the world. According to the university website, 98.4% of graduates have a full time job offer within three months of graduation.

The full time MBA can be completed in 21 months, and there are more than 70 student led groups on campus to choose from.

Booth School of Business is accredited by the AACSB

The Booth School of Business has been accredited by the AACSB. This is the most well respected business education accreditation agency in the world, and has been around for more than 100 years.

When you see a business school has been accredited by the AACSB, you know that it has achieved a high level of quality.

Several MBA options are available

Students at the Booth School can choose from full time, part time, evening and weekend MBA programs, depending upon their career and personal needs.

Only 1 required foundational course

The Booth School MBA is unusual in that only one foundational and required course is needed for all students – Leadership Effectiveness and Development. Students then choose the other courses that they will take based upon their concentration and other needs in these areas:

  • Foundation courses
  • Functions, management and business environment
  • Electives in 14 concentrations
  • Leadership training

Least Favorite Features

No online MBA is offered

All MBA options at the Booth School involve being on campus. You can choose either a full time or part time MBA, but there is no online MBA offered.

Admission is highly competitive

It is very difficult to be admitted into the Booth School with fewer than 10% accepted. But this is to be expected with one of the best programs in the country. It is common for applicants to the program to have a GMAT score of 700 or higher. The Princeton Review states that the admissions selectivity rating for this school is 98, which is one of the highest. That publication states it is the 9th hardest MBA program to be admitted to in the US.

GMAT scores are required

You must submit GMAT scores to the admissions board to be considered for admission. There is no waiver program available for experienced professionals.

Interested in a GMAT Waiver program? See our list of 25 Best Online MBA programs without the GMAT

Campus is located in busy urban center

The campus for the University of Chicago is located in Hyde Park IL and is a busy, urban setting. This is one of the best universities in the country, but attending college in the middle of a very large city is not the best fit for all students. This area of Chicago also is close to some very crime infested neighborhoods. The campus is actually separated from downtown from some very dangerous neighborhoods that students will want to avoid.

No residence halls for MBA students

One of the criticisms of the Booth program according to Poets and Quants is that it does not have the camaraderie that other leading MBA programs have, such as Northwestern University. Not having residence halls for MBA students means there is not as much a feeling of community at the Booth School. The admissions team does not conduct personal interviews with all applicants, so there is less ability to admit students that fit a certain personality profile and style than at competing schools.

The Details

General Information

  • Founded in 1890
  • Application deadline: April 3
  • Application fee: $50
  • School type: Private
  • Term Schedule: Semester
  • Location: Chicago
  • Student-faculty ratio: 5:1

Tuition Rates

Concentrations

Business Degrees

  • Master of Business Administration – includes full time, part time, weekend and executive MBA

Class Profile

  • 1176 are enrolled in the full time MBA and 1377 part time
  • 8% acceptance rate for entire university
  • Entire university is 52% male and 48% female
  • 730 average GMAT score
  • 5 years of work experience on average
  • 36% international students
  • 6 average GPA
  • 27% minority students and 59 countries represented
  • 60% men

Graduation and Retention Rates

  • 4 year graduation rate is 89% which is excellent
  • 93% graduate within six years, which is excellent
  • 100% of freshmen return for the second year, which is outstanding

US News Rankings

  • National universities: 3
  • Best value schools: 15
  • High school counselor ratings: 11
  • Most innovative schools: 20
  • Business programs: Tied for 1
  • Executive MBA: 1
  • Marketing: 8
  • Part time MBA: 2
  • Finance: 2
  • Accounting: 7
Henry R. Steele
Henry R. Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.Follow on Twitter.com

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