Smeal Full-time MBA is among the top 5 schools for faculty quality and salary increase. With a 97% placement rate in three months, a mean base salary of $114,008, and a mean sign-on bonus of $26,179, Smeal MBA is an alternative to European top tier schools that offers a similar remuneration.
In this in-depth analysis of the Smeal Full-time MBA program, we cover:
• Smeal Full-time MBA Class Profile
• Smeal Full-Time MBA Cost
• Smeal Full-Time MBA Scholarship and Financial Aid
• Smeal Full-Time MBA Curriculum
• Smeal Full-time MBA Joint Degrees
• Smeal Full-time MBA - Experiential Learning
• Smeal Full-Time MBA Application Process
• Smeal Full-Time MBA Salary by Industry (2021)
• Smeal Full-Time MBA Salary by Function (2021)
• Smeal Full-Time MBA: US Placement Data
Smeal Full-Time MBA Class Profile
Smeal Full-Time MBA program limits its class size to 50-60 range.
The 2023 graduating class has 55 students. The average GMAT score required to get into Smeal MBA is 666, with an average GRE range of 298-323. The below 3 GPA opens up the application pool to those who had stumbled on the academic front but came back with demonstrable professional growth. The GPA range is broad – 2.94 to 3.72. However, the class has a low women representation (34%) by US school standards and a similar international student (30%) representation to other US schools. The majority of international students are from China, India, Nicaragua, Nigeria, Russia, and Taiwan.
| Smeal Full-time MBA | Class Profile |
|---|---|
| Class Size | 55 |
| Average Months Prior Work Experience | 70 months |
| Percentage of Women | 34% |
| Percentage of Underrepresented Minorities | 12% |
| Percentage of International students | 30% |
| Average GMAT | 666 |
| Average GRE | 298-323 |
| Average GPA | 2.94-3.72 |
Smeal Full-Time MBA Cost
Penn State has affordable tuition for all its programs. Smeal MBA is no different, as the program ranks #4 globally for Value for Money in the Financial Times' 2021 Global MBA Rankings.
The tuition cost for Pennsylvania Residents is $28,196, and for the international or Out-of-State students, it is $45,004. Other expenses such as Fees, Orientation fees, Communication courses, Global immersion, Health insurance, and Students Association fee are the same for both Pennsylvania and out-of-state students.
The total cost for the 2-year program ranges from $63,671 to $97,286.
| Smeal Full-time MBA Cost Breakdown | Pennsylvania Residents | Out-of-State Residents/International Students |
|---|---|---|
| Tuition | $28,196 | $45,004 |
| Fees | $530 | $530 |
| Orientation Fees | $170 | $170 |
| Communication Course | $30 | $30 |
| Global Immersion (Only 1st Year) | $2,250 | $2,250 |
| Health Insurance (for international students) | $659.20 | $659.20 |
| Students Association Membership (optional) | $325 (Lifetime MBA Association Membership) | $325 (Lifetime MBA Association Membership) |
Smeal Full-Time MBA Scholarship and Financial Aid
Nearly all admitted students at Smeal MBA received financial aid, with about 75% receiving a full-tuition Fellowship. Scholarships and fellowships are awarded based on merit and factors such as Academic Potential, Professional Experience, Leadership Qualities, and the Fit for Smeal MBA Program.
Scholarships usually vary from $7,500 to $20,000 in value. Scholarship awards are automatically considered for those who apply before the February deadline. Apart from the Scholarships, students can get financial aid through, Fellowships, Military Support, Partnerships, and Loans.
Military Support: Smeal MBA Program commits to making financial aid accessible to qualified active-duty military personnel and persons who have transitioned from service before enrolment in the Smeal MBA Program. An application waiver is also available for military applicants. The assistance provided will be determined by the same standards used for the merit-based scholarship and fellowship grants.
Partnerships: The Penn State Smeal MBA Program collaborates with several organizations that help students with financial aid.
A few noteworthy ones are:
Teach For America: Smeal's affiliation with Teach for America allows students who are accepted to the program and opt to join Teach for America to receive a two-year moratorium on paying back the tuition fee. Smeal MBA Program also waives the application fee for Teach for America members who apply to the Penn State Smeal MBA program.
Western NIS Enterprise Fund (WNISEF): The SEED Grant is a scholarship program sponsored by the Western NIS Enterprise Fund's Economic Leadership Program. WNISEF offers full-tuition scholarships to Ukrainian and Moldavian students who pick the Smeal MBA to broaden their business skills and bring them back to their home countries.
Fellowships: Smeal MBA fellowships are based on merit, gender, country of origin, military background, and economic status.
| Smeal Full-time MBA Fellowships | Requirements | Awards |
|---|---|---|
| Penn State Smeal MBA Fellowships | Awarded based on merit to outstanding international and domestic candidates. | Two-year full-tuition scholarship. Subsidized health insurance. Covers 10-month academic schedule for each year. |
| The Forté Fellowship | outstanding female students | Full-tuition scholarship for two years. Health-insurance subsidies. Covers 10-month academic schedule for each year. Travel reimbursement (up to $300), hotel accommodations, and entry to Penn State's University Park campus's Powerful Women Paving the Way Conference. |
| Bunton and Waller Fellowship | individuals with excellent academic and professional potential from many ethnic and cultural backgrounds | Two-year full-tuition scholarship. Subsidized health insurance. Covers 10-month academic schedule for each year. |
| Maimuna Mijindadi Anyene Memorial Fellowship | outstanding candidate from Nigeria | Two-year full-tuition scholarship. Subsidized health insurance. Covers 10-month academic schedule for each year. |
| Paul D. Coverdell Fellowship | incoming MBA students who have completed Peace Corps service | Two-year full-tuition scholarship. Subsidized health insurance. Covers 10-month academic schedule for each year. |
| Fulfilment Fund Fellowship | Individuals who grew up in educationally and economically under-resourced communities | Two-year full-tuition scholarship. Subsidized health insurance. Covers 10-month academic schedule for each year. |
Smeal Full-Time MBA Curriculum
The Penn State Smeal Full-Time MBA Program is an internationally ranked residential MBA program that starts in August and spans two academic years. Each semester is divided into seven weeks of modules. But before the session begins, students need to complete a set of onboarding tasks and assignments through Canvas - Penn State’s online learning platform.
Smeal MBA Schedule
The two-year Smeal MBA program is divided into Core in the first year and electives for the second year.
Year 1 (The Core): In year one, students have two modules and an immersion week in the Fall semester and two modules and a Global immersion in the Spring Semester.
| Fall Semester | Module I | Immersion Week | Module II |
|---|---|---|---|
| Communication Skills for Management | Negotiation Theory and Skills | Communication Skills for Management | |
| Financial Accounting | Quantitative Analysis for Managerial Decision Making | ||
| Team Process and Performance | Foundations in Finance | ||
| Management | Economics for Managers | ||
| Business Statistics for Contemporary Decision Making | |||
| Spring Semester | Module III | Global Immersion | Module IV |
| Communication Skills for Management | Global Immersion | Communication Skills for Management | |
| Supply Chain and Operations Management | Global Perspectives | ||
| Global Business Environment | Foundations in Managerial Accounting | ||
| Global Perspectives | |||
| Strategic Management | |||
| Marketing Management |
Year Two (Elective): In the second year, students can align the elective courses with their interests and career aspirations. The schedule includes two modules and an immersion week in the Fall Semester and two modules in the Spring semester.
| Fall Semester | Immersion Week | Module V | Module VI |
|---|---|---|---|
| Negotiation Theory and Skills | Strategy Implementation and Organizational Change | Real Estate Financial Analysis | |
| Brand Management | New Product Development and Management | ||
| Manufacturing Strategy | Modern Portfolio Management | ||
| Global Finance | Financial Engineering and Corporate Strategy | ||
| Global Strategy and Organization | Power and Influence | ||
| Complex Negotiations | Entrepreneurial Finance | ||
| Strategic Financial Management | Six Sigma Management | ||
| Business, Government, and International Economics | Strategic Procurement | ||
| Management Consulting Methods and Practice | |||
| Spring Semester | Module VII | Module VIII | |
| Ethical Leadership | Demand Fulfillment | ||
| Strategic Leadership | Business Transformation Consulting | ||
| Supply Chain Modeling | Financial Analysis and Valuation | ||
| e-Marketing | Marketing Strategy | ||
| Fundamentals of Financial Markets | |||
| Six Sigma Management | |||
| Risk Management | |||
| Business Marketing | |||
| Growth and Innovation Strategy |
Concentrations and Options
After focusing on business essentials in the first year, students can take advantage of concentrations and options.
Although just one concentration is required to complete the MBA program, most students choose two to three concentrations or options. This adaptability allows students to personalize their academic experience and enhance their potential to reach their post-MBA goals.
Currently, students have 4 Concentrations and 16 Options to choose from.
Smeal Full-time MBA Concentrations:
• Finance
• Management Consulting
• Marketing
• Supply Chain Management
Smeal Full-time MBA Options:
• Applied Leadership
• Capital Markets
• Consulting and Project Management
• Corporate Finance
• Corporate Innovation
• Entrepreneurship
• Global Business
• Healthcare
• Marketing Analytics
• Negotiations and Influence
• Product and Brand Management
• Risk Management
• Six Sigma
• Strategic Leadership
• Supply Chain Management
• Sustainability
Smeal Full-time MBA Joint Degrees
Penn State offers three joint-degree programs in collaboration with the Smeal MBA Program.
JD/MBA Program: Students usually begin their first year of study at Penn State's law schools: Dickinson Law in Carlisle, Pennsylvania, or Penn State Law. The Smeal MBA Program is offered in the second year. The third year of study is split between the JD and MBA programs. The law classes in the fourth year bring the Joint degree to a conclusion.
How to apply for JD/MBA Program: Students must apply individually to one of Penn State's law schools and the Penn State Smeal MBA Program. They must complete the admissions requirements for each program. Students already enrolled in a Penn State JD program can apply to Smeal for a JD/MBA program during their first or second year of law school.
MD/MBA Program: This is a five-year program in which students study within the College of Medicine at Penn State Milton S. Hershey Medical Center in Hershey, Pennsylvania, for the first three years. In year four, students begin the Smeal MBA curriculum at University Park before finishing in year five with a JD/MBA combination at Smeal while simultaneously completing clinical rotations.
How to apply for MD/MBA Program: Students must apply individually to the Penn State College of Medicine and the Penn State Smeal MBA Program and complete each program's admissions requirements. During their first three years of study, students enrolled in the MD program may apply to Smeal to participate in the MD/MBA program.
Science BS/MBA: Students get a bachelor's degree in science from Penn State Eberly College of Science, followed by a Smeal MBA. Students pursuing a Science BS/MBA can complete both degrees in five or six years, depending on how they tailor their studies and co-op activities.
How to apply for Science BS/MBA: During their senior year of high school, students apply to the Eberly BS degree program and then to the Penn State Smeal MBA program during their last year of the undergraduate science program.
Smeal Full-time MBA - Experiential Learning
Smeal’s full-time MBA offers students four Experiential Learning Programs to develop key business skills and enhance their hands-on experience.
Orientation: Orientation is an intensive two-week program where students get to know their Classmates and the MBA experience.
Orientation is divided into three phases. The first one is Career Planning, whereby students spend time outlining the array of career development resources and planning their career strategy for the upcoming months. The next one is MBA Action, a day filled with team-building activities that take place outside the campus. The last one is Case Competition, sponsored by a recruiter that acts as the final activity for the two-week orientation.
Immersion: The Smeal MBA program offers engaging week-long events that give hands-on, real-world learning.
Immersions are divided into three phases: concentration intensive, global immersion, and Negotiation Intensive.
During the first full week of school, the Concentration Intensive occurs immediately after orientation. Each day concentrate on one of the concentrations, offering an overview and material highlights for each field of study.
The Global Immersion Tour will improve students' capacity to interact cross-culturally, adapt to changing business settings, and manage the risks and rewards of working on a global scale, which is crucial for executives.
The mandatory Negotiation Intensive is held during the first week of the second year in the Smeal MBA program. It concentrates on a systematic approach to negotiating that allows students to explore, practice, and analyze negotiation methods.
Case Competitions: Student teams collaborate to design answers to real-world business cases in a case competition, culminating in a presentation of recommended solutions to a panel of judges.
Case competitions can provide networking opportunities, exposure to crucial industry contacts, and, in certain cases, prize money and provide experience in solving business challenges.
The four major Case Competitions are Chevron Supply Chain Case Competition, Deloitte Consulting Supply Chain MBA Challenge, Smeal MBA Executive panel Case Competition, and Smeal MBA Sustainability Case Competition.
| Case Competitions | Hosts | Participants |
|---|---|---|
| Chevron Supply Chain Case Competition | The Supply Chain Management Association (SCMA), with sponsorship from Chevron | first- and second-year Smeal MBA students. |
| Deloitte Consulting Supply Chain MBA Challenge | Deloitte Consulting | first-year Smeal MBA students |
| Smeal MBA Executive Panel Case Competition | The Executive Panel Smeal MBA | first-year Smeal MBA students |
| Smeal MBA Sustainability Case Competition | Smeal College of Business | student teams from any MBA program |
Professional Services Engagement Practicum: The Professional Services Engagement Practicum is an elective course that allows student teams to work on business challenges presented by clients ranging from tiny family-owned enterprises to global corporations. Some of the recent projects include:
• Evaluating Market Segments with Siemens Industry, Inc.
• Cutting Waste with Mondelez International, Inc.
• Sustainability in Sourcing with International Paper
Smeal Full-Time MBA Application Process
The Penn State Smeal MBA accepts applications in four rounds in October, December, February, and April. To get admitted to Penn State Smeal Full-Time MBA Program, applicants need to follow a multi-step application process.
Each applicant is required to submit:
• Penn State Graduate School Application
• GMAT or GRE Scores
• Admission Essay: The questions asked for the admission essays are, what are your short-Term and Long-Term career goals? How does your past experience enable you to achieve these goals? How do you see your MBA experience fitting into this plan? (The word limit for the essay is 600 words)
• Updated Resume
• Copies of all the Official Educational Transcripts
• Video Application Response
• Letters of Recommendation
• Official English language Proficiency Exam Scores for International Candidates
• Application fee of $65
Only the completed applications will be reviewed and the selected candidates will be called further for an Interview.
Smeal Full-Time MBA Salary by Industry (2021)
Manufacturing was the leading industry (30%) – a representation unlikely to see in other top US MBA or leading European MBA programs. The remuneration was a $115,525 in base salary. Second in line was Technology with 24% placement, followed by healthcare with 22%, with the former offering a $120,500 base and the latter a $113,286 mean base salary, respectively.
| Smeal Full-Time MBA Industry | Hired Percentage | Base Salary |
|---|---|---|
| Manufacturing | 30% | $111,525 |
| Technology | 24% | $120,500 |
| Healthcare | 22% | $113,286 |
| Consulting | 13% | $114,400 |
| Other | 11% | $106,000 |
Hiring Companies:
• Amazon.com, Inc.
• Athleta (Gap Inc.)
• BearingPoint Consulting Inc.
• Bliley Technologies
• Bristol Myers Squibb Company
• Clarkston Consulting
• Dell Technologies Inc.
• Deloitte Consulting LLP
• E. & J. Gallo Winery
• Eastman Chemical Company
• Forian Inc.
• Highmark Health
• Honeywell International Inc.
• Huazhong University of Science &
• Technology
• Infor (US), Inc.
• Intel Corp.
• Johnson & Johnson
• Mattel, Inc.
• Merck & Co., Inc.
• Microsoft Corporation
• Novartis
• Sanofi Genzyme Corporation
• TE Connectivity
• Verizon Communications Inc.
• Yunxuetang
• ZS Associates
Smeal Full-Time MBA Salary by Function (2021)
Supply Chain/Operations/Logistics and Marketing/Sales were the top Functions with 38% and 22% of graduates hired, respectively. The highest mean base salary was offered in the Marketing/Sales Function at $123,000. Finance/Accounting Function hired the least 8% of graduates with a $99,000 mean base salary.
| Smeal Full-Time MBA Function | Hired percentage | Base Salary |
|---|---|---|
| Supply Chain/Operations/Logistics | 38% | $113,661 |
| Marketing/Sales | 22% | $123,000 |
| Consulting | 16% | $116,167 |
| General Management & Other | 16% | $109,750 |
| Finance/Accounting | 8% | $99,000 |
Smeal Full-Time MBA: US Placement Data
Despite the highest mean base salary in Southwest and West of $122,200 and $122,375, respectively, Mid-Atlantic and Northeast regions were represented the most with 24% and 19%, respectively. After the Mid-Atlantic region, next on the list is the Northeast, where 19% of graduates were hired.
| Smeal Full-Time MBA(Placement by Region) | Percentage Hired | Base Salary |
|---|---|---|
| Northeast | 19% | $108,286 |
| Mid-Atlantic | 24% | $110,000 |
| South | 13.5% | $105,800 |
| Midwest | 6% | N/A |
| Southwest | 13.5% | $122,200 |
| West | 16% | $122,375 |
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