Stanford GSB | Ms. Education Reform
GRE 331 (Practice), GPA 2.92
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Berkeley Haas | Ms. Against All Odds
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Harvard | Mr. MedTech Startup
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INSEAD | Mr. INSEAD Hopeful
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Chicago Booth | Mr. Consulting Hopeful
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Stanford GSB | Mr. Future VC
GMAT 750, GPA 3.6
Stanford GSB | Ms. Access To Opportunities
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Wharton | Ms. Finance For Good
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UCLA Anderson | Mr. International PM
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Stanford GSB | Mr. Low GPA To Stanford
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GRE 326, GPA 77/100 (USA Avg. 3.0)
INSEAD | Mr. Fraud Associate
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GMAT 770, GPA 3.86

Yale’s B-School Lost $15 To $20 Million

Yale University’s School of Management lost “$15 to $20 million over the last 15 years,” according to Dean Edward Snyder. The disclosure was made in a New York Times story this week.

Snyder, previously dean at the University of Chicago’s Booth School of Business and the University of Virginia’s Darden School, was recruited to Yale to gain greater recognition for its business school. He assumed the deanship of SOM in August of last year.

The losses are not entirely surprising because Yale has remained a relatively small and unambitious player in the business school market, with a high faculty-to-student ratio, a small student enrollment, and few executive education offerings. Even so, it’s somewhat shocking that the school lost that much money given the prestige of its brand during what were widely considered boom years for MBA education.

According to the story, Snyder has a five-step plan to transform a school into a leader in the field:

1. Start by focusing on the sectors where the school has strong relationships and build from there. Or, as Snyder says, ‘‘Give up the undifferentiated, multi-brass-ring strategy of best recruiters, best students, best facilities, blah, blah, blah.’’

2. Embrace a mix of faculty, particularly those with real-world experience. ‘‘You’ll still want some strong, fast-ball-discipline types in areas like economics, finance and psychology to teach how markets work and function,’’ Snyder says. ‘‘But get fewer of them.’’

3. Calculate the cost of things — any things! ‘‘Be very focused on and systematic about collecting data and sharing data with other schools around the country and the world,’’ he says. ‘‘Collect data on industries and on markets. It’s really valuable for students to do that, and you’ll make your school valuable for insight and information.’’ Extra credit: ‘‘It’s good for branding.’’

4. Offer a broader mix of programs, including part-time ones. ‘‘That’s more affordable in today’s economy and where the market at business schools is going.’’

5. Book your ticket to Gdansk! ‘‘If you’re going to be global, be selective and try to identify a less well served country like Vietnam or Poland instead of China. Pick places with young populations that don’t already have a lot of business schools.’’

DON’T MISS: CAN TED SNYDER WORK HIS MAGIC ON YALE’S SCHOOL OF MANAGEMENT? or YALE SOM POACHES TWO B-SCHOOL STARS

About The Author

John A. Byrne is the founder and editor-in-chief of C-Change Media, publishers of Poets&Quants and four other higher education websites. He has authored or co-authored more than ten books, including two New York Times bestsellers. John is the former executive editor of Businessweek, editor-in-chief of Businessweek. com, editor-in-chief of Fast Company, and the creator of the first regularly published rankings of business schools. As the co-founder of CentreCourt MBA Festivals, he hopes to meet you at the next MBA event in-person or online.