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University of Chicago Booth School of Business

Chicago Booth ProfessorsIf you want specific examples of what makes Booth faculty different from other school faculties, who are mostly academicians with limited tenure in high profile roles, cite the examples of Raghuram Rajan, Luigi Zingales, Richard Thaler and Nicholas Epley.

Raghuram Rajan
Rajan, a rock star professor from Booth, rose to fame by predicting the 2008 Financial meltdown with the paper
“Has Financial Development Made the World Riskier? “ in 2005.

At that time, the popular belief was that the Economy was going through a boom. According to Rajan’s paper, it is easy to grow the company in the short-term with higher risk, but incentivizing professionals to attain growth at any cost will lead to long-term losses. A better approach that Raghuram suggested was to set up risk-adjusted growth targets. The paper describes how short-term profit targets incentivize investment bankers to herd together with the competition and employ similar strategies. What it does is that the difference in investment returns would...

Booth MBA Essay TipsBooth’s MBA Application Essay for 2015-16 has taken a step towards making the essay more creative with a pictorial series as a prompt.

If you pay close attention, the admission team is asking – what aspect of Chicago Booth MBA experience do you like the most

• Experiential Learning
• Chicago as a post-MBA destination
• Academic Rigor 
• New Venture Challenge
• Booth Brand
• Sense of Community
• Encourage Women Leaders
• Distinguished Speaker Series
• Student Groups
• Travel & Experience International Culture
• Challenge Yourself
• Celebrate Multiculturalism
• Chicago Booth Alumni
• Esteemed Professors
• Sky is the Limit

Booth Brand

Most MBA Admission Consultants will talk about the value of Booth brand from a pure entry criteria and post-MBA jobs point of view. GMAT Score of the incoming class, GPA, the diversity (% international, %women) and post-MBA Finance jobs doesn’t cover the impact of the Booth brand completely.

If you want proof on how Booth has helped professionals make big leaps, you have to analyze the career paths of Booth MBA Alumni.


Chicago Booth MBA Admission Updates 2014 OctoberJan 27th 2015: It seems February 4th have become a crucial date for Interview Invitations. Chicago Booth Admission team have shared that they have started sending interview invitations this week (last week of Jan 2015) on a rolling basis with all the decisions scheduled to be released by Feb 4th 2015. Booth team has set two options for interviews:

On-Campus Interviews will be held from Feb 10 to Mar 6 at the Harper Center in Hyde Park. On Feb 21, Interviews will take place on Booth 455, across the downtown campus at the Gleacher Center. 2nd year admission fellows will conduct the on-campus interviews. Candidates are recommended to visit the campus, interact with current students, talk to an admission director and sit through a class as part of the interview process.

Off-Campus Interviews are scheduled locally and internationally across five cities:   New York City (February 21), Washington, D.C. (February 28), San Francisco (March 7), London (March 7) and     Hong Kong (Mar 7 and Mar 8). Alumni, and Admission team will lead the interviews here. Details about location and scheduling will be...

Booth MBA Waitlist GuidelinesChicago Booth Waitlist Guidelines for the Class of 2016 MBA program have been published.

1) Application of Round 1 Waitlisted applicants will be reviewed along with Round 2 applicants

2) Final decisions will be released on March 27.

3) Those who are not accepted or rejected by March 27 will continue to be in waitlist, and their application again considered for Round 3.

4) Applicants will have the choice to accept or reject the invitation.

5) Submit supplemental material only if you have enhanced your profile after the submitting your application

6) Booth offers the option to record a short video, describing why you are a good fit for the MBA program. Updates are optional.

7) Send all your submission before February 21st , 2014. (Details provided in the online application).

Recently, @Booth_Insider conducted a twitter session to answer general queries about Chicago Booth MBA Admissions. We have compiled answers to some of the common queries asked by Booth MBA Applicants.

What makes Booth MBA Unique?

According to the AdCom, Booth’s flexible curriculum, students and well renowned faculty makes the program unique.

Does the AdCom recommend campus visit?

Although the AdCom understands that not all applicants can visit the campus, on-campus visits offer the opportunity to experience the campus and interact with faculty and Admissions team. The team recommends interacting with Alumni and current students.

Does Booth MBA Accept GRE Score?

The AdCom gives equal priority to GMAT and GRE, therefore submission of one of the scores is enough for the application.

Multiple GMAT Scores - Which Score is considered?

For Booth MBA Applicants who have taken the GMAT multiple times, the AdCom looks at the highest GMAT Score for the application.


Booth vs Wharton MBAThe University of Chicago Booth School of Business and The Wharton School of the University of Pennsylvania offer world’s best MBA programs. Let us compare the programs based on 9 factors: Location, Ranking, Cost, Class Profile, Curriculum, Experiential Learning, International Learning Opportunities, Post-MBA Opportunities, and Alumni Network.

1) Location

Booth is located in Chicago, the third largest city in the US and home to 29 Fortune 500 companies, Federal Reserve Bank, and five major financial exchanges - Chicago Stock Exchange (CHX), the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the NYSE Arca. The City is one of the most diversified economies in US with contribution from a wide range of sectors that include Finance, Manufacturing, IT, and Health Care. Chicago is known as the global center for derivatives trading. It is also known for sustainability, hosting 23 leading Clean Tech and Wind Energy Companies.
Wharton's main campus is located in Philadelphia,
the second largest city in US East Coast. The city is known for healthcare and biotechnology, financial services, media,...

Wharton Vs Booth MBAIf you have missed the first part of the series, Read Booth vs Wharton MBA: Location, Ranking, Duration, Cost, Class Profile and Curriculum.

6) Experiential Learning

Learning by doing is an approach that some of the top Business Schools have adopted. Booth and Wharton have implemented them through Exchange Programs, Summer Projects, Student Club Projects, and Labs.

At Wharton, the Experiential Learning is focused on leadership development rather than individual functions. Booth on the other hand looks at experiential learning at Functional level with Lab Courses in Management, New Venture, Private Equity, Social Entrepreneurship, and Clean Tech.  Both Wharton and Booth offer experiential learning opportunities through Elective Courses. Marketing Research and Consumer Behavior are two courses that involve Experiential learning at Booth.

Chicago Booth provides experiential learning through Lab Courses. The Management lab, in addition to offering opportunities in developing strategic thinking,...

Top Business Schools with Creative MBA ApplicationWhen the MBA Application Essay Questions are filled with the “Why MBA” and “Why our Business School” questions in a written format, and Interviews restricted to the standard format, there were some Business Schools that have tried to be innovative.

1) Tippie Twitter Essay – Pulling the Plug too soon?

When Tippie School of Management retired the Twitter Essay, it was not because of poor response. In fact, when the pilot was run the responses were overwhelming and this led the AdCom to make the Twitter Essay a formal part of the application.

So what went wrong?

Innovation by definition “is the use of novel ideas or methods for better results” and Tippie AdCom was innovative in their approach.

The culprit was the instruction in the question.

Here is the excerpt of the 2011 Application...

MBA in Accounting Part 2If you have missed the first part of the Series - Top 4 MBA in Accounting, Click Here to Read: Top 4 MBA in Accounting: MBA vs Masters, Career Options, Job Responsibilities & Titles

2) University of Texas--Austin (McCombs)

The McCombs School of Business offers a Full-time MBA program with a concentration in Accounting. The concentration is offered by the renowned McCombs Department of Accounting. The program covers in details: Corporate financial reporting, making and analyzing corporate financial statements and financial reporting. It has 2 areas of focus - Investment Banking and Corporations.

The core curriculum
is the same as that of the general MBA program, covering Financial Accounting, Financial Management, Statistics, Marketing Management, Operations Management, Managerial Economics and Strategic Management. The flexible core has the option of a Responsibility and Integrity Requirement. The subjects offered as part of the concentration include Financial Accounting Standards and Analysis, Strategic Controls, Advanced...

Wharton Common BondCommonBond, has recently announced that it will disburse $2.5 million in student loans at Wharton, benefiting as many as 50 students. What makes this significant is that the loans are funded by Wharton alumni itself. CommonBond is a startup founded by Wharton Alumni. They oversee the disbursal process. At the heart of CommonBond's effort is a philanthropic quest - a positive social change. A case in point is that for every fully-funded degree, the company will sponsor a child's education, for a year in partnership with the African School for Excellence.

The news is a boost to the nascent alumni-sourced loan industry, which seeks to ease the difficulties faced by MBA students looking for loans. Students do not have to put up with the intense scrutiny and paperwork, which they must go through otherwise. And even more significantly, the interest rates are just 6.24%, lower than the lowest Federal loan rate of 6.8%. Private loan rates go even higher, averaging around 12%. Alumni who contribute to the loan pools get returns of above 4.25% - profits with a cause attached. What's more, the risk factors are very low. The 10-year cumulative loss rate estimated for the Wharton loan pool is around 0.70%.


When it comes to picking the best Business School with focus on Finance - Chicago Booth, NYU Stern and Columbia have usually featured in most lists. Today, we compare Booth against Stern and see how their stats stack up.


Booth is located in Chicago, the third largest city in the US and home to Federal Reserve Bank, five major financial exchanges - Chicago Stock Exchange (CHX), the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the NYSE Arca. The city has 30+ Fortune 500 companies and almost 100 corporate headquarters.  In terms of business and finance, Chicago is second to just one city in the US - New York.

New York is the world's #1 financial and trade hub. It has 45+ Fortune 500 company headquarters, and 500+ other company headquarters. Stern Alumni have the highest concentration in New York and they occupy some of the best companies in the city.
NYU Stern is located in Greenwich Village, which is just beside New York's financial district of Manhattan. This provides access to some of the world's top companies and stock exchanges. The school is not insulated from the city's hustle, and lack of space, which...

Chicago Booth’s Part-time MBA program stands out for its international focus. Called the International MBA Degree (IMBA), it supplements the typical Booth MBA with five international business courses and one term abroad. It also requires students to obtain proficiency in a language other than English.

Key Advantages

• An identical curriculum to that of the full-time program, which has been consistently ranked among the top 10 MBA programs.

• Flexibility of weekend and weekday options

• Can complete the course in 2.5 to 5 years.

• Access a worldwide alumni network of 45,000 across 116 countries.

• Students from one stream can take classes in the other, and can even attend Full-time MBA courses.

• Can choose from 14 concentrations.

• The weekend program has an airport shuttle service and discounted rates at hotels.

• Access to all campus facilities as well as the 205 top-notch faculty

• Can take part in the campus recruitment process with Full-time students  

Course Details

The Core curriculum in Booth Part Time MBA program is identical to that of the Full-time MBA program. The program offers a wide choice of electives with a choice of 14 concentrations. Among them are Analytic Management, Econometrics & Statistics,...

Part Time MBA 2This is the second part of the series – Best Part Time MBA programs. If you have missed the first part, read Best Part Time MBA Programs - Part 1 (Kellogg & NYU Stern)

3) University of Chicago (Booth)

Booth offers working professionals a flexible, Part-time MBA program that has a unique international edge. The International MBA Degree (IMBA) adds onto the typical Booth MBA, with five international business courses, one term studied in a foreign country, and proficiency in a language other than English. The International Business Exchange Program (IBEP) allows students to study one academic quarter at one of 21 countries, chosen from 33 partner schools.

Course Duration: The course can be completed in 2.5 – 5 years, and has two schedule options, weekend and weekday. Students from one stream can take classes in the other, and can even attend Full-time MBA courses....

1. What are your short- and long-term goals, and how will a Chicago Booth MBA help you reach them?  (500 words)


a. What has been your biggest challenge, and what have you learned from it? (200 words maximum)

b. Tell us about something that has fundamentally transformed the way you think. (200 words maximum)

3. Presentation/Essay

The Chicago experience will take you deeper into issues, force you to challenge assumptions, and broaden your perspective. In a four-slide presentation or an essay of no more than 600 words, broaden our perspective about who you are. Understanding what we currently know about you from the application, what else would you like us to know?

For Re-applicants: Upon reflection, how has your thinking regarding your future, Chicago Booth, and/or getting an MBA changed since the time of your last application? (300 words)

For Tips to write Chicago Booth Essays: Download Chicago Booth Essay Guide

The Chicago Booth Executive MBA program starts in June and spans over 21 months with 17 classes (2 classes per quarter). Students can join the program on June at one of the campus locations – Chicago, London or Singapore. The primary goal of the program is to develop skills that enhance critical thinking and allow you to handle high-pressure challenges with confidence.

Key Advantages

1) Students can join any one of the campuses in Chicago, London or Singapore according to their work location or preference.

2) Curriculum structured to strengthen Business Fundamentals and Managerial Leadership.

3) Pick concentrations in finance, strategy, marketing or entrepreneurship.

4) Take 15 courses with your colleague in a class environment and pick 2 electives from 2 electives

5) Collaborate with individuals from diverse culture and experience.

6) Develop critical thinking and creative problem solving skills.

7) Learn from world-class faculty whose has real-world experience and expertise in their chosen field.

Course Details

1) Course Duration: 21 Months (17 classes – 2 classes per quarter)

2) Three Campus Choice – Chicago, London or Singapore

3) Class Size: 90 per campus

4) Average Experience: 12 Years

5) Average Age: 37 Years...