Columbia Business School facts for kids

Quick facts for kids
Columbia Business School

Type	Private business school
Established	1916; 109 years ago (1916)
Parent institution	Columbia University
Endowment	$869 million (2022)
Dean	Costis Maglaras
Academic staff	136
Postgraduates	1,433
Doctoral students	100
Location	New York City , New York , United States
Campus	Urban

Columbia Business School (CBS) is a famous business school that is part of Columbia University in New York City. It's a private university, which means it's not run by the government. Established in 1916, it's one of the oldest business schools in the world and belongs to a group called the Ivy League business schools.

History of the School

Bulletin from 1978–1980, when it was called the Graduate School of Business

The school started in 1916 with 11 teachers and 61 students. Eight of the first students were women. A banking executive named Emerson McMillin gave the first money in 1916. Later, A. Barton Hepburn, who was president of Chase National Bank, gave money for the school's endowment. An endowment is like a special savings account that helps fund the school for a long time.

The school grew quickly. By 1920, it had 420 students. In 1924, it added a PhD program. A PhD is the highest university degree.

In 1945, Columbia Business School started giving out the MBA degree. An MBA is a Master of Business Administration. In the 1950s, the school chose the Hermes symbol. Hermes is a Greek god linked to business and communication.

In 1952, CBS stopped taking undergraduate students. Now, the school mainly offers MBA and PhD degrees. It also has special programs for business leaders.

In 2004, economist R. Glenn Hubbard became the dean. The dean is like the head of the school. In 2019, Costis Maglaras took over as dean.

Campus Buildings

From 1961, Columbia Business School was mostly in a building called Uris Hall. This building was in the middle of Columbia's Morningside Heights campus.

In 2010, a former student named Henry Kravis promised $100 million to help the school grow. This was the biggest gift in the school's history. This money helped build new buildings on Columbia's Manhattanville campus. In 2012, Ronald Perelman also gave $100 million for a second building. In 2021, David Geffen pledged $75 million.

The new buildings are called Henry R. Kravis Hall and David Geffen Hall. They were designed by a company called Diller Scofidio + Renfro. Columbia Business School officially moved to its new Manhattanville campus in January 2022.

The new campus cost $600 million. This makes it the most expensive business school ever built.

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  Manhattanville Campus – Kravis Hall

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  Manhattanville Campus – David Geffen Hall

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  Morningside Heights – Uris Hall (Old Campus)

MBA Program

The Columbia MBA Program is very hard to get into. For the class of 2021, only about 13.6% of applicants were accepted. Students come from many countries and speak over 50 languages.

The main courses, called the core curriculum, make up about 40% of the degree. These courses include Corporate Finance, Financial Accounting, and Marketing Strategy. In the first year, students take these core classes. In the second year, they can choose from over 130 other courses. They can also take classes from other schools at Columbia University.

Columbia's MBA program has two ways to start. The main group of about 550 students starts in the fall. Another group of about 200 students starts in January. These "J-Term" students have a faster 18-month program. They usually plan to go back to their old jobs and don't do a summer internship.

In 2020, the average starting salary and bonus for Columbia MBAs was $171,436. This was one of the highest among business schools. A study by Forbes magazine found that many billionaires who got rich from finance got their MBA from Columbia Business School, Harvard Business School, or The Wharton School.

Academic Divisions

The school's teachers are divided into six main groups:

MBA Rankings

Columbia's MBA program is highly ranked. Forbes magazine ranked it 7th. Bloomberg Businessweek ranked it 5th. U.S. News & World Report ranked it 6th. Globally, The Economist ranked it 4th in 2022. The Financial Times ranked it 1st in 2023.

Dual-Degree Programs

Columbia Business School students can earn an MBA along with another degree. This usually takes less time than getting both degrees separately. Students must apply to both programs.

Some of the dual degrees offered are with these schools:

Student Life

The Columbia Business School Follies is a student club. They create a show each semester with comedy skits. In 2006, they became famous for a video called "Every Breath Bernanke Takes." It was a funny parody of a song by the Police.

Other Programs

Columbia Business School also offers other types of degrees and programs.

MS Programs

The school offers three Master of Science (MS) degrees. These are in Accounting and Fundamental Analysis, Financial Economics, and Marketing. These programs are very hard to get into. For example, in 2021, only 20 students were accepted into the Financial Economics program out of 837 applicants.

Doctoral Program

The Doctor of Philosophy (PhD) degree is also offered. This program is for students who want to become professors or researchers. It is very competitive. In 2021, only 3 students were accepted into the Finance PhD program out of over 500 applicants.

Executive Education

Columbia Business School offers special programs for business leaders. These are not degree programs. They help people learn more about management, finance, and leadership.

Research Centers and Programs

Columbia Business School has many centers and programs for research. These help teachers and students study different areas of business. Some examples include:

People at CBS

Faculty

Columbia Business School has 136 full-time teachers. One famous teacher is Joseph Stiglitz, who won the Nobel Prize in economics in 2001. The current Dean is Glenn Hubbard. Other teachers include Joel Greenblatt, a famous investor, and Adam Dell, who is the brother of Dell Inc. CEO Michael Dell.

Alumni

Columbia Business School has over 44,000 former students, called alumni. Many of them have become very successful. Here are some notable alumni:

Warren Buffett, CEO of Berkshire Hathaway

David Dodd, known as the father of value investing

James Gorman, chairman and CEO of Morgan Stanley

Douglas Hsu ^[zh], chairman of Far Eastern Group

Henry Kravis, who helped start Kohlberg Kravis Roberts

Frank Lautenberg, a US Senator

Shelly Lazarus, chairman and CEO of Ogilvy & Mather

Vikram Pandit, former CEO of Citigroup

Harvey Schwartz, CEO of The Carlyle Group

Robert F. Smith, founder of Vista Equity Partners and a very wealthy African-American investor

Soren Thompson, a world champion fencer and Olympian

• Alexander Haig, former United States Secretary of State
• Beth Ford, CEO of Land O'Lakes
• Christopher O'Neill, a British-American businessman married to Princess Madeleine of Sweden
• David Sainsbury, former chairman of Sainsbury's (a British supermarket chain)
• Ethan Brown, founder of Beyond Meat
• Fred Hochberg, former chairman of the Export–Import Bank of the United States
• Gen Fukunaga, founder and CEO of Funimation Entertainment
• James W. Keyes, former CEO of Blockbuster Inc. and 7-Eleven
• Jeffrey Loria, former owner of the Florida Marlins baseball team
• Mitch Albom, a famous author and journalist who wrote Tuesdays with Morrie
• Noor Pahlavi, a model and princess to the former throne of Iran
• Rocco B. Commisso, chairman and CEO of Mediacom
• Tracey Chang, a TV anchor and former Miss New York USA

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See also

In Spanish: Columbia Business School para niños