28. Rice University Jesse H. Jones Graduate School of Business
Rice University Jesse H. Jones Graduate School of Business6100 Main Street
Houston, Texas, 77005
Admission Deadlines for Class of 2014:
Round One: 11/7/11
Round Two: 1/9/12
Round Three: 2/20/12
Round Four: 4/12/12
The practical learning approach of the full-time MBA curriculum at Rice aims to transform students’ careers by blending three essential elements for maximizing strategy, leadership, and creative credentials: a comprehensive core, an action learning project, and specialized concentrations. Upon completion of the core curriculum, customization of the Rice MBA degree is possible by choosing electives that establish depth in a particular area, or demonstrate a well-rounded perspective of business principles that span several functions. Independent study is also available as an elective, in which students work with a faculty supervisor on an approved project relevant to the student’s career path.
MBA candidates have the option to complete a maximum of two concentrations within the general management curriculum. While concentrations are not required in order to graduate, students who choose a concentration will be able to demonstrate specialized knowledge. There are 10 concentration options, each consisting of 9 to 12 credit hours of coursework.
Rice University’s Jones Graduate School of Business slipped one spot in 2011 in the Poets&Quants ranking, largely because of a 12-place fall in The Economist’s global ranking to 53 from 41 in 2010. But the school did significantly better in both the Forbes and U.S. News rankings in 2011. Forbes, which measures school standing on the basis of return on investment, ranked Jones 45th, up two spots from 47th in 2009. U.S. News gave the school an even bigger boost, pushing it up the ranks to a 34th place finish, five spots better than a year earlier. Over at the Financial Times, Rice maintained its global rank of 44 in 2011, exactly the same as its rank in 2010.
Among the most influential rankings, Jones best finish comes from BusinessWeek, which largely ranks schools based on student and graduate satisfaction. BW ranked the school 29th in 2010, with a rank of 27th in its poll of recent grads and a rank of 44th in its poll of corporate recruiters. As one graduating Jones MBA told BusinessWeek: “We call the Rice MBA program, the “Rice Family.” It is small town-ish, everyone knows everyone else, and one is not allowed to not contribute to the class, the program, and the atmosphere. One matters here. You’re not allowed to fade in the background and just get by. The small town family feel was very important to me and vastly exceeded my expectations.”
We had predicted that Rice would do significantly better in the 2012 U.S. News survey and it did–rising to a rank of 25th. That’s because the school was one of the very few to show a dramatic increase in applications in 2011. They were up 31.4% to 715 applicants for not much more than 110 full-time seats. That surge allowed Jones to lower its acceptance to 25% from 36% in 2010. The school also did considerably better placing its Class of 2011. Some 71% of the class had job offers at graduation, far above the 53% mark during the recession-plagued 2010 year. Three months after commencement, 92% of Jones’ MBAs had offers, compared with just 84% a year earlier.
2011-2012 Tuition & Fees: $92,164
School Recommended Two-Year Budget: $150,000
Median GMAT: 680
GMAT Range (mod-80%): 600-740
Average GPA: 3.27
Acceptance Rate: 25%
The hurdle rate to get into Rice’s full-time MBA program is considerable. Incoming students in the fall of 2011 had an average undergraduate grade point average of 3.40. It wasn’t the highest among the best half dozen business schools in the state. Surprising, the University of Texas at Dallas reported the highest GPA average: 3.54. But Rice’s number was close to the highest ranked school in the Lone State, UT-Austin which reported a 3.43 GPA and above Southern Methodist University’s Cox School average of 3.25.
Incoming MBAs in the fall of 2011 at Rice had an average GMAT score of 673, second highest among the half dozen best business schools in the state. The only school reporting a higher score for its latest class of students was the University of Texas at Austin where the incoming class averaged 692.
Jones Graduate School of Management became the most selective business school in Texas in 2011, opening its doors to only 25.2% of the applicants to its full-time MBA program. That was even slightly better than higher-ranked University of Texas by a sliver of a fraction–25.3%. All of the half dozen best MBA programs in Texas are fairly selective, ranging from UT-Dallas’ 25.8% acceptance rate to Southern Methodist University’s 37.0% acceptance rate.
Full-Time MBA Enrollment: 222
African American: 5%
Asian American: 17%
Hispanic or Latino American: 9%
Mean Age: 28
Pay & Placement:
Median Base Salary: $95,000
Median Signing Bonus: $12,000
Percentage of MBAs with Job Offers at Graduation: 71%
Percentage of MBAs with Job Offers Three Months Later: 92%
The Class of 2011 fared quite well on the salary front. Jones’ MBAs landed starting base salaries of $96,867, second highest in the state behind only the MBAs at the University of Texas’ McCombs School of Business, where the average salary was $101,412. Rice paychecks were substantially higher than Baylor’s $64,700 or UT-Dallas’ $73,012 and a good deal better than SMU’s $84,465 or Texas A&M’s $87,169 average.
Where Jones’ Class of 2011 Went To Work
- Consulting: 17 %
- Consumer Products: 15 %
- Financial Services: 25 %
- Manufacturing: 5 %
- Media/Entertainment: 0 %
- Non-Profit: 2 %
- Petroleum/Energy: 29 %
- Pharmaceutical/Biotechnology/Health Care: 3 %
- Real Estate: 1 %
- Technology: 3 %
The Jones Graduate School of Business at Rice University in Houston, Texas is one of the world’s leading business schools. One of seven academic units of Rice University, it is named in honor of the late Jesse Jones, a prominent Houston business and civic leader.
Rice MBA Full-Time Program The Rice MBA was designed to help students be more effective in today’s ever-changing business world. The full-time curriculum was developed with three goals in mind: (1) maintain the traditional academic rigor and preparation that is synonymous with the Rice MBA, (2) create a delivery format that maximizes the student learning experience, and (3) provide students with the flexibility to customize the curriculum to meet their professional needs. As such, the curriculum is intended to allow students to build a strong general management foundation in the first year, while providing the flexibility to tailor the curriculum to their professional needs in the second year of the program. Second year customization allows students to declare up to two concentrations or take a more generalist approach and select from the over 40+ electives offered in the second year of the program.
Rice MBA for Professionals* The Rice MBA for Professionals program offers a unique opportunity to earn a degree while continuing to work. The program combines three essential elements: (1) a comprehensive and challenging core curriculum provides you with a solid foundation of basic business disciplines, (2) a required Capstone project that gives students the opportunity to participate in a real-world applied learning activity outside of work and the classroom, and (3) a host of specialized electives in your second year allows you to further integrate your knowledge and empowers you to achieve your career objectives. Students in the MBA for Professionals program who want to accelerate their careers are able to experience real-time learning and application of concepts learned in the classroom are applied at work the next day. The Rice MBA for Professionals program accommodates the diverse needs of the working student with different schedules: evening and weekend.
Rice MBA for Executives Program* The unique and rigorous curriculum of the Rice MBA for Executives program meets full days Friday and Saturday on alternate weekends. With its focus on strategic management and leadership development, the program is designed to appeal to key company influencers who wish to enhance their business acumen and hone their executive presence. Students learn to evaluate businesses from new perspectives while cultivating the skills needed to identify challenges, develop solutions and successfully lead an organization in today’s global community. The program’s emphasis on leadership and strategy offers critical instruction in the most essential aspects of executive management. In addition to required courses offered primarily in the first year, the program offers the advantage of at least nine electives in the second year — significant in that students can customize their course of study geared specifically to their interests. Throughout the program, students are challenged to question, define and adjust their notions of leadership. *For students traveling from outside Houston accommodations for Friday and Saturday night are provided by the Renaissance Hotel, Greenway Plaza, located a few miles from campus. Complimentary shuttle service to and from the school is also included. There is an additional cost to take advantage of this weekend residency option.
Rice PhD in Business The JGSB doctoral program is intended for candidates aspiring to become faculty members at business schools in prestigious research universities. Students engage in both coursework and research as part of their doctoral training. Students nearing graduation interview for faculty positions, hoping to start their careers as assistant professors at business schools around the world.
Undergraduate Business Minor The Jones Graduate School’s undergraduate business minor enables students to pursue any of the excellent majors on campus while enhancing their education with select business courses.
Executive Education The school’s Office of Executive Education is an integral outreach component of the Jones School of Business and offers more than 100 programs annually that focus on the working executive and includes open enrollment, certificate programs, application based management programs and custom-designed programs for organizations. Open enrollment programs are appropriate for individual learning in subjects such as accounting, finance, sales and marketing and general management. The application based programs are targeted to ensure the right level of experience and potential among the participants to promote a strong peer learning environment. Custom programs are designed for individual companies with a target audience in mind and with a defined organizational problem or issue of concern. Certificate programs have both an industry and a discipline focus ranging from accounting and energy management to healthcare.
The Rice Alliance for Technology and Entrepreneurship Since its inception in 2000, Rice Alliance has assisted in the launch of more than 250 start-ups which have raised more than half a billion dollars in early-stage capital. More than 1000 companies have presented at more than 125 programs hosted by Rice Alliance. More than 26,000 individuals have attended Rice Alliance events in the past nine years and over 24,000 individuals subscribe to the Rice Alliance Digest newsletter.
Rice Business Plan Competition The Rice University Business Plan Competition is the world’s richest and largest, awarding more than $1 million in prizes annually; over 120 past competitors are in business today having raised in excess of $337 million.
Career and Placement The Jones School helps students prepare for a career through a range of curricular and extracurricular career development programs. The Career Management Center offers personal counseling, mock interviews, expert speakers, and industry panels. In addition, the Action Learning Project at the end of the first year helps students explore industries and, potentially, secure a job or internship. Strategically located, Rice is ranked No. 1 in Texas and the Southwest, so students have unparalleled access to the energy companies in Houston — Houston has the second highest number of Fortune 500 company headquarters, second to New York City — and all the other opportunities in this region. In recent years, more than 80 percent of Rice graduates have taken jobs in the Southwest. While the business school is small, Rice has a strong and supportive alumni network. Thirty percent of graduates took jobs in the petroleum/energy industry; however, students take jobs in a range of fields and, in recent years, Rice students were recruited and interviewed by such diverse organizations as ExxonMobil, Ernst & Young, JPMorgan, Waste Management, Cameron, McKinsey Consulting, ConocoPhillips, Anadarko, Newfield Exploration and Barclays.
Admissions To apply for admission to Rice University, applicants must submit official transcripts of all college-level work, GMAT scores, two letters of recommendation, a current resume, and three personal essays. When evaluating applicants, Rice looks for both qualitative and quantitative skills; however, a strong academic track record is paramount in an admissions decision. There are no minimum GMAT or GPA scores required for admission. The mid-50 percent GMAT range is 640 to 710, though a high score does not guarantee admission, just as a low score does not prohibit it. Jones School also offers a broad array of scholarships.
ADMISSIONS CONTACT: MELISSA BLAKESLEE, EXECUTIVE DIRECTOR OF ADMISSIONS
ADDRESS: MBA ADMISSIONS, PO BOX 2932-MS 531, JONES SCHOOL HOUSTON, TX 77252-2932
PHONE: 888-844-4773 • FAX: 713-348-6147
Testimonials from students Patra Brannon - MBA Full Time Class of 2011 Patra is the winner of the 2010 Jane M. Klausman Women in Business Scholarship from Zonta International. Choosing the Rice MBA: I chose Rice because of the opportunity to stay in Houston and become part of a diversified, yet intimate network of MBA professionals. I was especially attracted to the familial presence that Rice exhibited. I loved that the school’s culture was collaborative yet competitive, challenging and supportive. Rice just seemed to offer all that I desired right here in my hometown.
Radost Boneva – MBA Full Time Class of 2011 Choosing the Rice MBA: I was focusing on small programs in large cities that have a student-managed investment fund. After spending couple of days at the Rice campus as a guest of the Women’s Preview Weekend – I fell in love! Interacting with people involved in the program made the difference for me. I was searching for “The Reason” to stay, and had found it in the people I met.
Norman Wright II – MBA Class of 2012 Full Time The best part of my Rice MBA experience so far are the people that I have met. From my classmates to the faculty and staff, I have quickly developed relationships that I will keep for many years to come. Not only have I made some great friends in the short time that I have been at Rice but I have also met many people who I know I will be able to contact in the future for advice and guidance. My teams have also been amazing. I think the school does a great job of making sure each core team has a good mix of backgrounds and experience. This allows for us as students to learn from our teammates and gain valuable insight from their experiences.
Jesse Filipi - MBA Class of 2012 Full Time (MBA/ME) On Pursuing the MBA/ME program at Rice: First, Rice was the only school that I found which offered a true engineering masters degree. Other schools have a manufacturing or operations engineering degree as half of the dual, and for me that wasn’t interesting enough. Second, the dual degree offered me the unique opportunity to tie all of my previous experience together. I wanted to move back towards engineering and energy, and the dual degree provided the perfect way for me to simultaneously advance my engineering and business skills to achieve this goal.
Rahila Odhwani - MBA Class of 2012 Full Time The best thing about the MBA experience has been the people I have met through the program. My core team the first semester was responsible for shaping a majority of my MBA experience. I learned a great deal from each one of them and had a great time during the process. During my second semester I had had the opportunity to take advantage of some great programs offered by Rice such as the Rice Business Plan Competition and the Jones School Board Fellows program, where I was able to serve as a non-voting board member for a local nonprofit organization. These programs have extended me opportunities to collaborate with venture capitalists, students from around the world, and board members for local nonprofits.
John Levene - MBA Class of 2012 Full Time I chose the Rice MBA program because the school was a good fit for me. The structured first year appealed to me because I was not 100% sure what I wanted to do with my MBA. Furthermore, Rice MBA’s strong relationship with the energy industry was very appealing as I have a geotechnical engineering background (B.S., M.E). After looking at several other MBA schools, the Rice MBA course offerings are more diverse than other programs.