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Ross School of Business
Michigan Ross recently announced a STEM-designated track within its full-time MBA program. Scott DeRue, the Edward J. Frey Dean of Michigan Ross, had this to share with MBA Crystal Ball.
“Organizations are increasingly relying on business analytics to make strategic and mission-critical decisions. We’re highly optimistic about the opportunities this STEM track will open up for our full-time MBA students, especially those who’re inclined to take up STEM-related careers in the business world. The new track will build upon the world-class academic curriculum at Michigan Ross and prepare students from diverse backgrounds to take up leadership roles after graduation.”
When New York City real-estate developer Stephen M. Ross (BBA 1962) donated $100 million to the University of Michigan’s business school, it was the largest gift ever to the university, and the school was renamed after its benefactor.
That was only the businessman’s first gift. In 2013, he donated an additional $100 million, and in 2017, followed this up with $50 million more.
Here are 16 nuggets about Michigan Ross with a focus on its full-time MBA program.
16 things every Michigan Ross applicant should know about
Location
Michigan Ross is situated in Ann Arbor, which lies west of Detroit in the US midwestern state of Michigan.
The University of Michigan is an important part of Ann Arbor’s economy and employs 30,000 of its population of 121,000 (2017).
The city was founded in 1824 and named after the wives of the founders of the village, both “Ann,” and for its bur oak trees.
Ann Arbor hosts research and engineering facilities including those of the National Oceanic and Atmospheric Administration, the National Vehicle and Fuel Emissions Laboratory of the US Environmental Protection Agency, and the Toyota Technical Center, besides the headquarters of Google’s AdWords program and other corporate organizations.
Ann Arbor, named “the best city to live in the US” by Niche.com in 2017, has four distinct seasons.
The summers are quite hot and humid (average temperature 28 degrees C in June) and the winter sees a significant drop from January and February (average daily mean -0.4 degrees C in January).
Snowfall usually occurs from November to April, and the city see some precipitation every month throughout the year.
Campus
Initially, upon its founding in 1924, Ross was located in Tappan Hall, which is the oldest existing building on the campus.
Ross’ present 179,000-square-foot campus, in the center of the campus of the University of Michigan, includes a flagship building and a library straight from the digital world, the Davidson Winter Garden, which serves as a center for collaborative learning, innovative classrooms, and quiet spaces for study.
There’s a student club for almost all interests, from sport-based clubs to career-based clubs, and community clubs to identity clubs; not only students, their partners can also participate in campus activities.
Seigle Café, Starbucks, a fitness center, a conference center, the Robertson Auditorium, an e-commerce lab, and a behavioral lab are other campus highlights.
Ross contributes to sustainability, and boasts of buildings that are LEED-certified.
Rankings
FT has ranked Ross 28th in its Global MBA Ranking 2019, while in the QS Top Universities Global Ranking 2020, Ross is tied for the 19th position with Duke Fuqua and Imperial, London, UK.
US News has given it the tenth rank in its “Best Business Schools in the US 2019” list, along with Duke Fuqua Ross; the school takes the 18th position in the 2018 US MBA rankings of Bloomberg Business Week.
Faculty, facilities
The Ross faculty of over 220 academic staff members consists of impactful teachers who are top researchers in their field. They inspire students with their knowledge, intellect, and experience of the business world.
Some examples of their thought leadership are available from their commentaries and case studies through which they bridge knowledge and resources that can help business students and leaders.
“Ross Thought in Action” features some of their research and insights.
The school has established various centers and institutes, such as the Erb Institute, William Davidson Institute, and Center for Value Chain Innovation, to facilitate research and innovation.
Ross’ initiatives, such as the India Initiative and China Initiative, help local companies and research institutions.
Programs
Ross runs a full-time MBA, which is a fully immersive program; evening, weekend, and online MBA, for those who want to continue working while attending b-school; an executive program of executive-level classes; and a global MBA, which can help the student provide a worldwide perspective to her employer.
The school offers undergraduate and other master’s programs such as Master of Management, Master of Accounting, and Master of Supply Chain Management.
The full-time MBA is a two-year residential program that provides “Ross experiences in action-based learning,” or REAL, and wide scope for networking.
As part of REAL, students get opportunities to develop, launch, and scale their business ideas, consult full-time for seven weeks on one of more than 80 projects in 20 countries as part of the MAP (multi-disciplinary action project), manage one of six student-led investment funds, and go beyond theory to manage an existing business.
Curriculum (full-time MBA)
Each of the two years consists of the fall and winter semesters.
The core courses range from financial and managerial accounting to marketing and financial management and applied microeconomics and corporate strategy.
Ten of the required 57 courses can be taken in any other school under the University of Michigan.
In the second year, elective courses or degree requirement courses can be taken, and students can plan their entire curriculum for the year.
Elective courses include mergers, acquisitions, and corporate development; entrepreneurial turnaround management; big data management tools & techniques; business leadership in changing times; and marketing engineering and analytics.
Besides, students can choose from 24 formal dual-degree programs, over 100 MAP projects, and other specializations for their electives.
Application requirements
Ross full-time MBA applications should include transcripts; GMAT / GRE scores; updated resume; short answers of 100 words or less to three questions; essay on short-term career goal (300 words); and one recommendation touching upon the candidate’s professional performance and work style, ideally from a current or former supervisor.
Interviews (on campus or with a Ross alum in your local area or on Skype) are by invitation.
Ross suggests that applicants participate in the team exercise to get to know classmates and find out their fit and to allow admissions officials to evaluate their communication and personal skills.
The MBA application fee is $200.
Ross looks for accomplishments, grades, teamwork skills, grades, and scores (TOEFL, PTE, or IELTS, if applicable).
International applicants are encouraged to apply in MBA application Rounds 1 and 2 to provide time for visa application processing.
Fee, expenses
The tuition per academic year for MBA full-time is $66,048 for Michigan residents and $71,048 for non-Michigan residents.
A mandatory fee of $164 per full semester and an international student service fee of $500 per semester for those on F or J visa status are charged.
Other cost of attendance (fall 2019 to winter 2020) was $16,194 for food and housing, $1,716 for book and supplies, and $6,352 for personal expenses.
Scholarships, aid
Full-time MBA scholarships from $10,000 to full tuition are available based on academic ability, professional and personal achievements, and potential to contribute to community.
Some scholarships are need-based. Scholarships and fellowships are also granted by the University of Michigan.
Admission statistics and Class profile
Statistics for the Class of 2021 of the full-time MBA
| Total students | 421 (women 45%, international 27% from 33 countries). |
| Average GMAT score | 719 (middle 80% range 680-760) |
| GRE score range | 154-165 for quant and 153-167 for verbal (both middle 80%) |
| Average GPA | 3.5 |
| Average work experience | 5 years |
| Top industry backgrounds | 26% consulting, 16% finance, 11% technology, 9% education/non-profit/government, 8% healthcare, 7% consumer goods and retail, 4% each military and engineering, and 3% automotive/transportation |
| Undergraduate majors | 42% economics/business, 30% STEM, and 28% humanities |
Jobs after MBA, employers
Ninety-three percent of full-time MBAs from Ross switch careers, and 57% of graduates go into consulting or technology.
Top employers include Amazon, Citi, Deloitte, Google, McKinsey, Microsoft, and Pepsi; among top destinations in the US are Chicago, Seattle, NY Tri-State area, and Bay Area (two-thirds preferred them).
Nine percent graduates have chosen international cities.
Salaries
The median base salaries and base salary range, respectively, for Ross full-time MBA graduates are as follows.
| Industry | Median Salary | Salary Range |
|---|---|---|
| Consulting | $147,000 | $70,000-$170,000 |
| Technology | $130,000 | $73,000-$158,000 |
| Financial services | $125,000 | $70,000-$243,000 |
| Healthcare | $120,000 | $82,000-$140,000 |
| Manufacturing | $115,000 | $100,000-$140,000 |
| Consumer packaged goods | $110,000 | $100,000-$120,000 |
| Retail | $110,000 | $105,000-$130,000 |
Alumni network
Ross alumni of over 50,000 live and work in 108 countries and have proven to be a major resource for the school and its students.
Students can connect with alumni clubs across the US and in many countries in the Americas, Europe, and Asia.
There are also affinity clubs, such as the Black Business Alumni Association.
Alumni advantages include networking events, career resources, and life-long learning programs.
Ross School of Business Placements
Some of the hiring companies include Accenture Strategy, Amazon, American Express Co., Bank of America Merrill Lynch, Morgan Stanley, PepsiCo Inc. etc. The median base salary of Ross School of Business graduates is 135,000 USD (104.61 lakhs).
The table below shows the average salary by Job Profiles of Ross Business School graduates.
| Job Profile | Salary in INR |
|---|---|
| Chief Financial Officer | 151 lakhs |
| Chief Executive Officers | 139.48 lakhs |
| Marketing Director | 98.76 lakhs |
| Director of Operations | 108.57 lakhs |
| Chief Operating Officer | 157.67 lakhs |
| Business Development Manager | 102.63 lakhs |
| Senior Product Manager | 60.9 lakhs |
| Real Estate | 57.1 lakhs |
| Technology | 105.09 lakhs |
Some of the top hiring companies were Amazon, Facebook, Deloitte, Google, Goldman Sachs Group, Boston Consulting Group, Boeing Co., Nike, Dell, Barclays PLC, Discover Financial Services etc.
A comparison between best paying degrees and average annual salaries of Ross School of Bussiness graduates are depicted below –
Explore: MBA jobs in the USA
Michigan Ross is a top-ranking school of business fostering a collaborative and contemporary learning community that inspires creativity, teamwork, and motivation. At the same time, it offers action-based learning to prepare its graduates for an ever-changing world of marketing and business. The school is also committed to excellence and impact and aims to create business leaders, researchers, and lifelong learners who will make a positive difference in the world.
Notable alumni
To name only a very few, chosen randomly alumni from Michigan Ross:
- R. R. Baliga (MBA 2004, Professor of Medicine, Ohio State University School of Medicine)
- John DeLorean (MBA 1957, engineer, inventor)
- Bharat Desai (MBA 1981, co-founder, Syntel)
- John M. Fahey (MBA 1975, Chairman Emeritus, National Geographic Society)
- Gary Hamel (MBA 1990, business thinker)
- Ole-Kristian Hope (MBA 1991, Norwegian economist)
- Shailesh Kumar (MBA, founder, Value Stock Guide)
- William C. Martin (MBA 1965, former President, US Olympic Committee)
- Rick Snyder (MBA 1979, former Governor of Massachusetts)
- Vienna Teng (MBA 2013, American singer-songwriter)
- Jerry White (MBA 2005, co-founder, Landmine Survivors Network)
USP
“Building a better world through business” is the Ross motto.
The school’s mission is to bring about change through powerful ideas and purpose-driven leaders and to make a social and economic impact through business.
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