Cornell MBA - Class Profile, Salary & Curriculum

Cornell MBA is a rare top 20 MBA program that ranks #4 in the US for General Management as well as leads in placements to the Investment Banking function. Although not a surprise considering the over 30% from the Financial Services industry, the market-driven experiential learning courses, proximity to New York City, and a competent $150,000 base salary equivalent to the top 5 are three major factors attracting IB professionals to the full-time MBA program.

In this in-depth Analysis of Johnson's two year MBA program, we cover:

• Cornell MBA - Incoming Class Profile
• Cornell Full-time MBA Fee
• Cornell MBA Financial Aid and Scholarships
• Cornell 2-year Full-time MBA Curriculum
• Cornell MBA - Experiential Learning
• Cornell Tech MBA
• Cornell One Year MBA
• Cornell Full-time MBA – Entrepreneurship
• Cornell Full-time MBA - Application Process
• Cornell MBA Salary by Function
• Cornell MBA Salary by Industry
• Cornell MBA - Employment for International Students

Cornell MBA - Incoming Class Profile

Cornell requires a reasonable GMAT score of 710 and a GPA of 3.34. The 300+ class size is smaller compared to top US MBA programs and attracted 35% international students spread across 30 nationalities with 39% women representation – lower than the 42-44% seen across top US MBA programs.

Cornell Johnson MBA	Class Size
Class Size	304
GMAT	710 (650-750)
GPA	3.34
Average Experience (years)	5 (3-8)
Average Age	28
Women representation	39%
Underrepresented minorities	25%
International Students	35%
Veterans	9%

Pre-MBA Education

The MBA class mostly consists of business majors (54%). The engineering cohort took the second spot while the Humanities, Social Sciences, and Sciences group occupied third place at 8-9% each, skewering the class clearly towards a quant-heavy dynamics.
 

Cornell Pre-MBA	Undergraduate Degree
Business	54%
Engineering	18%
Sciences	9%
Social Sciences	8%
Humanities	8%
Other	3%

Pre-MBA Industry

Bank of America, Deutsche Bank, and J.P Morgan featured in the regular top 15 employer list matching the predominantly financial services demographic (31%). Consulting and Technology background took the top spots as expected, with the only exception coming from the Government/Non-profit background that surprisingly was represented at the third position (11%) ahead of Technology candidates. The conscious effort to accommodate candidates from interesting backgrounds were also visible in the latest Cornell Full-time MBA class that accepted 25% from ‘other industries’

Cornell Pre-MBA	Pre-MBA Industry
Financial Services	31%
Consulting	12%
Government/Non-profit	11%
Technology	10%
Manufacturing	6%
Healthcare	5%
Other	25%

Cornell Full-time MBA Fee

The tuition fee at Cornell is $74,026. Housing and food are budgeted at $17,865 - the next large expense. The Financial Aid team at Cornell identifies costs for books at $1,100, health insurance at $3,694, and personal/miscellaneous expenses at only $5,000 annually.

The transportation costs - local and international, should be budgeted carefully as the component has been found to be the major cause of costs exceeding the budget. Do keep in mind that student club fees, interview expenses, other job-search-related expenses, car payments, and essentials like mobile phone expenses aren’t covered by private or federal loans.

International students: need to consider the additional costs of visa applications. The total cost of attendance for the first year is estimated to be $101,685 but is more likely to be $125,000 annually.

Cornell MBA Financial Aid and Scholarships

Financial Aid

Cornell MBAs can be funded through self-financing, loans, and scholarships. US citizens are eligible for Unsubsidized Loans and PLUS Loans for Graduate or Professional Students. International students are not eligible for federal assistance but can opt for private loans.

Cornell MBA Scholarships

Over 35 percent of Johnson students receive scholarship assistance. The balance comes from loans and self-financing.

Cornell supports grants and fellowships to aspiring leaders, LGBTQ+, women, dual degree MD/MBA students, and veterans. Additionally, McKinsey offers scholarships and extensive networking opportunities through their collaboration with Cornell, while those from an underrepresented group seeking opportunities with the Investment Banking firm, Goldman Sachs, will find their Summer Associate Award a gateway to convert internship to full-time opportunities.

Cornell MBA 40 Scholarships         

Cornell MBA Scholarships	40 Scholarship Options
AICPA Scholarships – American Institute of CPAs	American Indian Education Fund Scholarship – Partnership with Native Americans	The Dolores Zohrab Liebmann Fund	Goldman Sachs MBA Fellowship – Goldman Sachs
AIGC Fellowship – American Indian Graduate Center	Career Development Grants – American Association of University Women	Education for Sustainable Energy Development – Global Sustainable Electricity Partnership	Graduate Research Fellowship Awards – National Science Foundation
Cobell Scholarship Program	College Scholarship Program – Hispanic Scholarship Fund	Emerging MBA Scholars – McKinsey & Company	Graduate Women International
Daniel B. Goldberg Scholarship – Government Finance Officers Association	GDMF Scholarships – Glen Doherty Memorial Foundation	Federal Employee Education & Assistance Fund (FEEA)	International Fellowships – American Association of University Women
Jane M. Klausman Women in Business Scholarship – Zonta International	Korean American Scholarship Foundation	MBA Scholarship Program – National Black MBA Association, Inc.	Military Scholarships – Affordable Colleges
Minorities in Government Finance Scholarship – Government Finance Officers Association	National Federation of the Blind Scholarship – National Federation of the Blind	National Italian American Scholarships – National Italian American Foundation	National Society of Hispanic MBA (NSHMBA) Scholarship Program – National Society of Hispanic MBA
Orbis Investment Management MBA Fellowship – Orbis Investment Management	Paul and Daisy Soros Fellowships for New Americans	Point Foundation – The National LGBT Scholarship Fund	Reaching Out LGBT MBA Fellowship – Reaching Out MBA
Robert A. Toigo Foundation	Selected Professions Fellowships – American Association of University Women	Thomas R. Pickering Graduate Foreign Affairs Fellowship – The Woodrow Wilson National Fellowship Foundation	The Versitas Education Scholarship – Versitas
General Sites – U.S. and/or International Council for International Exchange of Scholars (CIES)	East-West Center	Institute of International Education	International Research and Exchanges Board
International Financial Aid and College Scholarship Search	International Scholarships Online	The Ron Brown Scholar Program	Thomson Peterson’s Financial Aid Information

Cornell 2-year Full-time MBA Curriculum

Core
The Core curriculum at Cornell’s 2-year Full-time programs balances the traditional courses (Accounting, Operations, Microeconomics) with Strategy, Leadership, and Critical Thinking, with regular inputs from corporate recruiters and alumni to keep the courses relevant.

Core Courses
•  Financial Accounting
•  Microeconomics for Management
•  Marketing Management
•  Critical and Strategic Thinking
•  Managerial Finance
•  Strategy
•  Managing Operations
•  Data Analytics and Modeling

Electives
Cornell MBAs are not obligated to choose a specialization in their first or second year, but each of the focus areas listed below provides a holistic option of 118 electives that cover Asset Management/Investment Research, Brand Management, Consulting & Strategy, Corporate Finance, Data Modelling & Analytics, Emerging Markets, Entrepreneurship & Innovation, Investment Banking, Leadership & Ethics, Private Equity & Venture Capital, Sustainable Global Enterprise, Technology, and Product Management.

 

Focus Area	Electives
Asset Management/Investment Research	Advanced Financial Statement Analysis, Applied Portfolio Management (The Cayuga Fund), Behavioral Finance, Financial Modeling, Fixed Income Securities & Interest Rate Options, Intermediate Accounting, Investment & Portfolio Management, Managerial Accounting & Reporting, Taxation & Business Strategy
Brand Management	"Consumer Behavior, Customer Strategy & Analytics, Data-Driven Marketing Digital Marketing, Marketing Research, Product Marketing Insights, Retail Operations Strategy & Tactics of Pricing, Supply Chain Strategy, Digital Marketing Intensive in New York City"
Consulting & Strategy	Advanced Critical Thinking, Cases in Business Strategy, Cases in Strategic Management, Evaluating Capital Investment Projects, Game Theory & Business Strategy, Management Cases, Management Practicum, Platform Strategy, Problem-Solving Project Process, Product Market Insights, Rivalry & Cooperation, Supply Chain Strategy, Taxes & Business Strategy
Corporate Finance	Advanced Financial Statement Analysis, Corporate Financial Policy, Corporate Governance, Entrepreneurial Finance, Global Macroeconomics News & Events, Intermediate Accounting, International Finance, Introduction to Macroeconomic, Management Accounting & Reporting, Managerial Spreadsheet Modeling
Data Modeling & Analytics	"Advanced Data Analytics, Advanced Spreadsheet Modeling, Data-Driven Marketing, Designing Data Products, Financial Modeling Introduction to SQL and Tableau, Managerial Spreadsheet Modeling, Marketing Research, Supply Chain Analytics, Technology Management: Cloud Computing & Big Data Fintech Intensive in New York City, Digital Marketing Intensive in New York City, Programming and data mining courses offered by Cornell’s School of Computing and Information Science and the College of Engineering"
Emerging Markets	"Competition from Emerging Markets, Current Global Issues for Business: The US, Europe, China, and Emerging Markets, Doing Business in China, Experience in International Management (various global locations), International Finance, Global Macroeconomics News & Events, Leaders in Emerging Markets"
Entrepreneurship & Innovation	"Actualizing Your Startup I, Actualizing Your Startup II, Big Red Tech Strategy, Business Idea Factory, Design & Innovation, Designing New Ventures, Entrepreneurial Finance, Global Innovation & Technology Commercialization, Leading Agile Innovation, Social Entrepreneurship, Startup Learning Series, Strategic Management of Technology & Innovation, Tech Commercialization and Entrepreneurship"
Investment Banking	"Advanced Financial Statement Analysis, Behavioral Finance, Derivative Securities Part I and Part II, Finance & Ethics, Financial Distress, Bankruptcy & Restructuring, Financial Markets & Institutions, Introduction to Macroeconomics, Investment & Portfolio Management, Mergers & Acquisitions – Accounting, Modeling & Evaluation of Deals, Valuation Principles, Fintech Intensive in New York City"
Leadership & Ethics	"Core Leadership Skills for a VUCA World, Crisis Communication for Business Leaders, Ethical Decision Making in Management Finance & Ethics, Johnson Leadership Fellows, Leading Across Differences: Understanding Identity, Dialogue, and Influence Power and Politics in Organizations, Topics in Leadership: Women in the Workplace"
Private Equity & Venture Capital	Case Studies in Venture Financing, Designing New Ventures, Entrepreneurial Finance, Intensive PE Practicum, Negotiation Essentials, Venture Capital Apprenticeship
Sustainable Global Enterprise	Advanced Topics in Sustainability, Big Red Microenterprise, Finance & Sustainable Global Enterprise Colloquium, Leaders in Sustainable Global Enterprise, Social Entrepreneurship, Strategies for Sustainability, Topics in ESG Investing
Technology Product Management	"Building a Consumer Internet Business, Design and Innovation, Designing Data Products, Designing New Ventures, Disruptive Technologies, Electronic Commerce, Leading Agile Innovation, Platform Strategy Product Marketing Insights, Strategic Management of Technology and Innovation"

 

Cornell MBA - Experiential Learning

Cornell MBAs are coached by leading business practitioners, focused in the areas of Corporate Finance, Digital Technology, Investment Research, and Asset Management, Strategic Operations, Strategic Product and Marketing, and Real Estate/Human resource management / Hospitality / Healthcare / Entertainment. The training of the intensive is rigorous, much like real-world opportunities.      

 

Cornell MBA Intensives	Skills Focus	Hiring Companies
Investment Research and Asset Management	Equity research, data/business analytics and valuations	Goldman Sachs, Barclays, UBS, Citi
Digital Technology	Programming, database management, advanced analytics to support business strategy	Google, Amazon, IBM, KPMG
Investment Banking	Advising corporate clients, raising capital, conducting merger and acquisition activity	Greenhill, Guggenheim, Evercore
Corporate Finance	Financial analysis, Modeling, Valuation, Strategic planning	American Express, Deloitte, Disney, GE
Real estate /Human resource management / Hospitality / Healthcare / Entertainment	Critical thinking, Creative problem solving, Leadership	E & Y, Procter & Gamble, PricewaterhouseCoopers
Strategic Product and Marketing	Gathering and analyzing customer insights, Using data to develop and inform business strategy, Creative and innovative problem solving	Colgate-Palmolive, General Mills, Johnson & Johnson
Strategic Operations	Learning the fundamentals of operations execution, Understanding operations from the shop-floor perspective, Simulation data analytics, Value-stream mapping, Understanding human capital	Intel, Corning, McKinsey & Company

Global Learning

Global Learning at Cornell is diverse with 4,000 MBA electives, spanning over 100 Departments, offering wide and varied international business learning opportunities. Eight internationally focused student clubs provide informal means of learning about a new country or region and create opportunities through networking events.

The Johnson Center for Sustainable Global Enterprise sponsors global sustainability initiatives, Johnson Emerging Markets Institute provides customized learning opportunities in emerging markets, cases with international protagonist expands students international perspective, global practitioners’ wisdom is shared through guest speaker series, and hands-on learning is offered through international study trips in addition to the exchange programs with 23 different partner institutes from all over the world, making Cornell MBA a unique platform to gain a holistic global perspective.

In the past, international faculty accompanied students on trips to India Trip, Colombia, Japan, and South Korea.

Internship Opportunities

Cornell MBA has earned the reputation of offering great value through a Summer Internship that follows two semesters of learning. In the first semester, they are often given substantive projects with meaningful challenges. With the knowledge learned in the core courses of the first semester, students then participate in the Integrative Case Competition, where they apply analytical and strategic thinking skills and present the case to a panel of judges. A cluster of specialized coursework and learning experiences occurs in the second semester - before the internships.

Leadership Development

Cornell develops a 4Cs Leadership Framework consisting of Competence, Character, Compassion, and Courage for principled, self-aware business leadership. This is achieved through a continuous, reinforcing cycle of instruction, experience, and review. Team Practicum and Outdoor Expeditions provide leadership opportunities in the first semester, coupled with an opportunity to lead one of 70 student clubs. Continuous reinforcements come to students in the form of feedback, reviews, and guidelines.

Cornell Tech MBA

The Cornell Tech MBA focuses on collective collaboration across disciplines of engineering, law, and computer science, in addition to providing a foundation in cutting-edge technology. The Tech MBA is entrepreneurship intensive, with 10% of Cornell MBAs starting their own venture. 90% of those that sought employment secured roles as Product Managers, Product/Digital Marketers, Project/Program Managers, and Technical Strategists.

Cornell One Year MBA

The most attractive feature of the one-year MBA at Cornell is the 60% of international students with a balanced representation in engineering (43%) and business (34%).

40% of one-year MBAs opted to work in the technology industry and in management roles (45%) by function. The highest salary was acquired by 3% in Law of $200,000. Technology and Consulting salaries were around the $130,000 mark, lower than that earned by 2-year MBA graduates.

Although it might seem that the overall investment is lower, the cost of attendance of the one-year MBA is higher at $150,000 compared to the annual cost of the 2-year MBA program of $125,000.

The return on investment is better on the 2-year MBA and offers a wider range of post-MBA opportunities despite the majority opting for an Investment Banking career.

Cornell Full-time MBA – Entrepreneurship

Entrepreneurship at Cornell is designed to encompass Venture Fund, Tech Strategy, Consulting, or Microenterprise. With an ecosystem of advisors and mentors, entrepreneurs, inventors, and investors, students can seek support in incubating their startup ideas through BigRed (BR) Venture Fund. The end-to-end guidance in validating ideas through prototyping, pitching for funds, and developing feasible exit options, have helped ventures like Datalogue, Concertio, and Venga make respectable exits.

BR Consulting for local and non-profit has become completely virtual due to the pandemic. Previous projects led by students include creating a go-to-market strategy for the Mini-bot, an educational robot that teaches coding in Python.

BR Tech Strategy provides MBAs the opportunity to conduct customer segmentation, market research, sizing, competitor benchmarking, and financial modeling on live projects. MBAs work with Engineering Ph.D. candidates to analyze and formulate commercialization opportunities for early-stage technologies during the fall semester. Previous projects include developing a commercial strategy for a social robot.

BR Microenterprise assists self-employed individuals through coaching so that they can meet their business objectives while balancing the ideals of contributing to the local community.

Cornell 2-year Full-time MBA Application Process

Cornell’s application deadlines are in October, January, and April each year. Those interested in making the Consortium’s Early Applications should complete the application by October, and Consortium’s Traditional Applications should be complete by May.

Cornell requires the following:
-    Academic records that demonstrate commitment to academic excellence
-    A resume demonstrating 2 to 5 years of professional experience
-    GMAT/GRE official score reports or a waiver essay (100 words) for this academic year which is subject to the admission committee discretion. It takes 5-7 business days for a decision to be received and is an essential part of the application, so factor in the time.
-    One letter of recommendation is required with an optional second letter of recommendation
-    English language proficiency requirements
-    $200 application fee – veterans, US military personnel, Peace Corps volunteers, MBA dual degree applicants, alumni of Teach for America are exempt from application fees
-    Admissions essays

Admissions Essays

Goals Statement: Cornell’s admission committee gauges the ambition of the prospective student and their career trajectory with the goals essay. They measure the feasibility of the goals by reading the narrative on their career choices, achievements, short-term goals, and long-term (5 to 10 years) career ambitions.

Prospective students are required to state the post-MBA role, employer, and industry.

The 350-word essay requires introspection reflecting on the applicant’s professional experience and how it has shaped their career trajectory, bringing them closer to the stated post-MBA role.

An explanation of the intrinsic motivations of pursuing the relevant dream job is required.

Impact Essay

The impact essay clearly demonstrates to the admissions committee the prospective candidate’s motivation. By talking to alumni and current students, applicants can find specifics of causes and students clubs where they can contribute meaningfully. The best impact essays for Cornell’s MBA clearly lay out the scope of the contributions and intend to accumulate resources that would implement the desired change.

Optional essay (compulsory for re-applicants)

The optional essay has a word limit of 350 words. First-time applicants may use the optional essay to explain any inconsistencies within the application with regards to academic or career. They must provide the reasons that led to the inconsistencies and the corrective measures taken not to repeat a similar performance.

Park Leadership Fellows Program Essay (optional, Two-Year MBA only)
US citizens with outstanding leadership potential are encouraged to apply for the Park Leadership Fellows Program. They must apply within the October or January Application Rounds or by the Consortium Early Application or Consortium Traditional Application deadlines to secure one of the 25 seats available.

The 500-word essay requires a description of a formal or informal leadership experience that has caused the development of the candidate’s specific leadership goals. Considering the student’s growth as a leader from experience stated, the applicant further needs to demonstrate how the Park Leadership Fellowship aligns with their goals. To answer the second part of the question, students must refer to the personal leadership and development training, potential leadership positions within Cornell and mapped their contributions to the public service project they hope to complete by the end of graduation. 

Letters of Recommendation
Recommenders should know the applicant well in a professional context, highlighting their intellectual, professional, and leadership skills. The criteria for an evaluation in the recommendation letter are leadership, maturity, team orientation, analytical skills, and interpersonal skills.

Cornell 2-year Full-time MBA Salary by Function

Cornell Post-MBA Functions	Percent Hired	Median Base Salary
Consulting	29%	$150,000
Investment Banking	25%	$150,000
Management	19%	$125,000
Finance	12%	$125,000
Marketing	8%	$115,000

More than half of Cornell graduates selected either consulting (29%) or investment banking (25%) as careers for a median base salary of $150,000. Within financial services, Cornell is ahead of NYU Stern in the percentage of graduates placed in investment banking.

Ranking 4th place in the US by the percentage of graduates hired in management, rotational leadership function in management was the most common role (12%). Other Finance functions and marketing roles contributed a further 20% to the full-time MBA placements.

Located northwest in New York state - 4 hours away from Wall Street, Ithaca is far but not too far away to forge crucial Investment Banking connections for students that were influential in the high IB offers for the latest class.
 

Cornell 2-year Full-time MBA Salary by Industry

Cornell ranks in second place, behind NYU Stern in investment banking (36%), by industry. Consulting secured the largest post-MBA salaries for Cornell graduates at $155,000. Technology, followed by consumer products and manufacturing, was in third, fourth, and fifth places respectively. The proximity of Bain, PWC, EY, and Amazon in Ithaca also was a factor for the offers in Consulting (27%) and Technology (17%).

Cornell Post-MBA Salary By Industry	Percent Hired	Median Base Salary
Financial services	36%	$150,000
Consulting	27%	$155,000
Technology	17%	$132,084
Consumer products	6%	$116,667
Manufacturing	5%	$123,600

Cornell 2-year Full-time MBA - Employment for International Students

From the 87% of the US offers, 89% of non-US graduates authorized to work accepted an offer within three months of graduation despite the 2-year extension that international students enjoy with Cornell’s STEM-certified MBA. A higher sign-on bonus of $43,208 against local peers’ $35,925 could be one reason, but since many are self-funded, the waiting period adds to the pressure of earning an ROI.

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Reference

• Cornell 2-Year Full-time MBA
• Cornell Tech MBA
• Cornell 1-Year MBA