When Edward “Ted” Snyder took over as dean of the Yale School of Management in 2011, expectations soared. And for good reason. Snyder was essentially a miracle worker during his decade-long stint at Chicago’s Booth School–catapulting the school into a world B-school power. Nearly five full years into the job at the SOM and Snyder has somehow surpassed those lofty expectations.
The stats speak for themselves. The SOM’s entering class size for the full-time MBA program has leapt from 231 when Snyder took over to 326 this past fall. Average GMAT for the entering class of 2015 was 721–two full points higher than 2014. Meantime, the acceptance rate dropped three full percentage points to 20.7% during the same timeframe. All the while, the school has been inching up in the rankings and jumped back into the top 10 in the most recent edition of the U.S. News rankings.
Snyder has also focused on diversity. Some 10% of classes at the SOM are reserved for students outside of the school. Not to mention, he has tapped into the global resources of the larger university to increase international presence within the SOM. To top of the global emphasis of the greater B-school community, Snyder and the SOM created the Global Network for Advanced Management in 2012 to link top B-schools around the world. Four years later, the network now has 22 of the world’s most elite B-schools.
“We had a big global brand at the university level, but not at the school level,” Snyder told Poets&Quants at the end of 2015, when he was named Dean of the Year. “The organizing idea was to move us as far away as possible from a standalone business school. Being at Yale made that relatively easy, and that was the big idea coming in.”
And applicants have taken notice to the improvements. In 2014, applications jumped nearly 25% and through Round One of this year’s application cycle, applications turbocharged another 29%. Internationally speaking, applicants from Global Network Countries have jumped a whopping 51.6% from 2012 to 2015.
Of course, Snyder and the global emphasis have also altered curriculum for full-time MBAs. Starting this semester, all full-time MBAs are required to take Global Virtual Teams. The first-year course will focus on team dynamics and then place Yale students on teams with other students at partner schools in Mexico and France. Students will learn to work across countries, cultures and languages.
Other recent changes include a Leadership Development Program–required for all Master’s students, growing the number of entrepreneurship courses to about a dozen and increases in dual degrees and partnerships across schools at Yale. The SOM offers what is probably one of the only dual degrees with a School of Forestry and Environmental Studies.
And employers are taking notice of the changes at the SOM, too. Once thought of a B-school that produces primarily social sector MBAs, the SOM has managed to maintain some of that social integrity while also producing graduates taking high pay private sector positions. For the graduating class of 2015, the median salary was $120,000–up $10,000 from the previous year’s class. What’s more, 96.4% of the class had received a job offer within three months of graduating. “We are closing the gap with the best best schools on employment,” Snyder says.
Clearly, the Yale SOM is trending among pretty much all key stakeholders in the MBA world. Applicants are taking notice, academics are taking notice and employers are taking notice. It will be intriguing to see just how far the school can leverage its current upwards momentum.
From 2011 to 2013, Yale SOM slipped from 13th to 17th in the Poets&Quants‘ composite rankings. The school has more than rebounded to 12th in 2014 and 10th in 2015. In the volatile Businessweek rankings, the school surprisingly maintained a consistent ranking of 21st for 2011 through 2013 before surging to sixth in 2014 and settling back to 11th in 2015. Over the past five years, Yale SOM has for the most part steadily climbed in the reputable rankings.
MBA Program Consideration Set:
Stretch Schools: Columbia, Dartmouth, Northwestern’s Kellogg School, MIT Sloan, Berkeley
Match Schools: New York University, Virginia, Duke, Cornell, Carnegie Mellon
Safe Schools: UCLA, North Carolina, Texas at Austin, Emory
Yale SOM does not publish in its employment report its top employers, preferring to list all of the firms that hired the school’s graduates.
Note: MBA Program Consideration Set: If you believe you’re a close match to this school–based on your GMAT and GPA scores, your age and work experience, you should look at these other competitive full-time MBA programs as well. We list them by stretch, match and safety. These options are presented on the basis of brand image and ranking status as a general guideline.