Already an academic titan of the Northeastern US Ivy League, Yale founded their school of management relatively recently (1976) compared to other dedicated business schools. Despite this, the school has risen to prominence just as strongly as its parent school.
This article will dive into the unique culture of the Yale SOM and what we can learn from its successes. The school is outstanding for many reasons, but especially for the heavy emphasis that it places on ethics and responsibility as part of its teachings, which produces leaders who ensure their actions are a social good. The Yale SOM Employment Report offers a window into the impact an MBA from the school can offer.
Why Apply to Yale SOM?
Yale is a prestigious institution in business education, known for producing famous and influential alumni such as Indra Nooyi, former CEO of the PepsiCo corporation. Graduating from this elite New Haven school gives you an almost guaranteed boost to your career and earnings.
Median base salaries for graduates from Yale are growing at the fastest rate among the top 15 business schools at 7.7% from last year. Add to this the fact that the stature of Yale SOM has “consistently risen” among “prospective students and employers” in the previous ten years (according to Anjani Jain, Deputy Dean for Academic Programs), and the school becomes even more inviting.
So why should you be interested in getting an MBA from Yale SOM? In part, it comes down to the unique culture that Yale SOM can offer you. Take a look at Yale’s mission statement to get an idea of this:
“The mission of the Yale School of Management is to educate leaders for business and society.”
This isn’t just an institution looking to produce the next global business leaders, although it has done its fair share of that. Yale seeks to educate leaders for business and society, producing people that can change the world through their work. Bruce DelMonico, the Assistant Dean for Admissions at the school, describes Yale SOM as “the best business school to come to if you want to make a difference in society.”
This school should definitely be a contender for you if you are considering a career path in the public or non-profit sectors, as it consistently ranks highest amongst other top business schools in this field.
We’ll discuss this in more detail when we discuss what the school looks for in its candidates and what Yale SOM is best known for, but the type of education you wish to receive should be an essential part of your considerations.
The fascinating approach to business education that Yale SOM offers makes it a standout choice even amongst other top-performing business schools. So, if you want to be a part of the unique culture of Yale SOM, maybe to snag a chance with lucrative employers for whom Yale is a frequent source of recruits, keep reading, and let us tell you everything about the school.
What is Yale SOM Known for?
As we touched on, the school places a significant emphasis on the ethical and sustainable aspects of its education, seeking to create responsible leaders for business and society as a whole. Yale approaches management as other schools would approach “law, medicine, or architecture” as work that requires strict consideration of its ethical and societal implications.
Given this empowering and diligent attitude towards their subject, Yale SOM is well suited to candidates studying sustainability or who want to have a robust ethical approach to their future work. As such, it is a “place for curious, forward-thinking students” who are well prepared to challenge what comes before them and can shape things according to their own beliefs.
None of this should imply that Yale SOM is against existing business practices but merely impresses upon its graduates the need for diligence in their future work. If you are interested in more conventional graduate work in an MBA program, you will find that Yale will leave you well prepared. Yale SOM reported 10.6% of its graduates entering investment banking this year, 12.7% entering technology, and 36.9% going into consulting in one form or another.
Who is Yale SOM Looking for?
So we know what makes this school fantastic and why you should want to attend to boost your career to the next level, but what exactly is Yale looking for in its candidates?
As with all top business schools, it will look for excellent grades, top test scores, work experience, letters of recommendation, essays, and the rest. But let’s take an in-depth look at what successful applicants to this elite institution look like:
As you can see, Yale SOM has a broad, diverse set of students, in its relatively small class size of 346. The school, therefore, has high standards for the lucky few that it does accept into its exclusive MBA programs. The high average GMAT and GPA, of 724 and 3.67, respectively, demonstrate the degree of academic ability that the school will most likely require from candidates.
The school holds these standards to ensure that their students can handle the intensity the programs require and that you will get the most benefit from the education they can offer. The potential benefits from studying at Yale SOM are huge, as graduates from the school achieve a median salary of $140,000 straight after their graduation.
This does not mean that having a lower GMAT score or GPA disqualifies you from acceptance. There are many aspects of your application that are influential, with test scores forming only a single part. Some candidates with lower test scores have made successful applications to prestigious MBA programs thanks to careful planning and leveraging other aspects of their profile to their advantage.
If you have the potential to become the world’s next business leader, that ability will show through in your application.
Yale SOM even has unique aspects to its application system that will assess you entirely as an individual. The behavioral assessment that Yale recently introduced requires no preparation on your part. The test takes the form of a 25-minute online test wherein candidates review 120 pairs of statements, choosing one answer from each pair that they feel best represents them.
This is an excellent addition to the process as it doesn’t rely on any previous experience or knowledge. The test gets right to the heart of what each candidate is like as an individual.
But, to focus back on what Yale is looking for in their candidates, think of what came up when we examined the salient aspects of the SOM. A place for the education of ethical and responsible world leaders will look for candidates that show a willingness to engage and who can benefit from its distinguished approach to business education.
In-Depth Look at the Yale SOM Employment Report
Now that we know about its culture, we can have a look at the Yale SOM Employment Report and unpack all the details. First off, we can look at the breakdown of Yale SOM graduates by industry, which we started earlier.
The industry that SOM graduates entered into the most was consulting, and by a considerable degree at 36.9%. This means that Yale graduates are uniform in their career choices, as consulting is a useful umbrella term to describe a wide range of employment scenarios.
This is similar to how, taken as a whole, 23.3% of graduates entered into finance, but the employment report breaks this down into several fields. After consulting, technology drew the next highest portion of SOM alumni at 12.7%. The remaining graduates went into a diverse array of other industries that claimed smaller percentages of alumni, including e-commerce at 6.8% and healthcare/pharmaceuticals at 4.2%.
This data should give you a reasonable picture of what industries Yale SOM graduates go into. Graduates from the school find success and employment in a variety of fields, but the majority tend to go into consulting, technology, and finance.
If you are interested in one of those fields, you will be amongst kindred spirits at Yale SOM and will more than likely be able to come across a number of your alumni to network with, wherever your employment takes you. If not, Yale SOM has you covered. The individual focus of its education more than prepares you for any challenges you might face as a leader in business or society.
Next, breaking down the Yale SOM Employment Report by function, we gain a slightly narrower picture of the career paths of each graduate. Many graduates still go into consulting, with 36.4% going into external consulting and 7.6% going into internal consulting/strategy.
Consulting is followed by 24.6% of graduates entering into finance/accounting, 9.3% entering general management positions, and 14% entering marketing/sales. Following these functions, smaller percentages of graduates took on more varied forms of employment, so feel free to browse these figures if you are looking for data that pertains directly to your career path.
The next aspect of the employment report is the geographical spread of the employment positions that Yale SOM graduates obtained. 87.1 percent of full-time hires were made within the United States. Of those that remained in the US, 47% were employed in the Northeast, staying close to their alma mater.
After that, 29.2% found work in the western United States, with the rest being spread in smaller amounts around the country. 12.9 percent of graduates found employment abroad, half of whom worked in Asia following their MBA. 16.7 percent were employed in Europe, with the remaining graduates spread across the Americas, Africa, and the Middle East.
Those hired internationally did have a lower average salary than their peers who remained in the US — a median base salary of $110,000 compared to $145,000 — but their average salary was still significant. Add to this the fact that those international graduates may have pursued unique goals in their careers. If you have career ambitions outside of the country, you should not be discouraged from applying to Yale SOM.
Overall, the Yale SOM Employment Report paints a picture of successful employment for its graduates. Over 90% of its alumni received a job offer within three months of their graduation, with 85.9% accepting an offer by then.
Based on the employment report, Yale SOM provides you with the education needed to enter and succeed in some of the biggest industries and companies in the world.
1. Is Yale SOM a good school?
Yes, Yale is a high-powered and prestigious business school that consistently ranks among the best business schools in the US. As we have shown in this article, studying at Yale will give you a significant boost to your employment prospects and earnings.
2. How much does a Yale MBA cost?
The total cost of tuition and fees for attending Yale SOM comes to $76,770 per year, with the school recommending a budget of $104,752 to include costs such as healthcare and other personal expenses.
3. Where do Yale SOM students live?
Yale SOM students live in three main areas: East Rock (north of the school), Downtown (south of the school), and Mansfield (southwest of the school). The school describes each location as safe, affordable options that are great for all students, which provide good access to campus facilities through various means of transportation.
4. Can I obtain a waiver for the GRE or GMAT?
Unfortunately, Yale SOM does not offer a waiver for the GRE or GMAT tests. However, this shouldn’t discourage you from applying, as low test scores can be improved. Your test scores are also only one part of your MBA profile.
5. Is the TOEFL test required?
Yale SOM requires all applicants for whom English is not their native language to apply with a TOEFL test result. Yale requires the TOEFL because the classes are taught in English. To get the full benefit of the education that Yale offers, you will need to be able to engage with everything being said in class. However, the SOM does offer some conditions for waiving the TOEFL requirement, such as a baccalaureate degree or its foreign equivalent at an English-speaking school.
6. Does Yale SOM offer financial aid?
Yale offers full financial aid to all students for five years if they satisfy academic requirements. Receiving aid consists of your tuition fees being waived and a small stipend that is “comparable” to those “offered by other leading Schools of Management.”
The Yale SOM Employment Report gives an excellent insight into a unique and highly successful school. Its culture strongly encourages ethics and diligence when training transformative leaders for business and society, which truly sets it apart as a high-powered and prestigious institution for business education.
The huge successes of its graduates, illustrated in great detail by this employment report, demonstrate the school’s potency to help improve people and societies. If you want to be part of the MBA experience that Yale SOM offers, we hope this article has given you a place to start on that journey. Best of luck with both your application and your career.