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{{short description|Business school at the University of Pennsylvania, in Philadelphia}} | |||
{{Use mdy dates|date=July 2018}} | {{Use mdy dates|date=July 2018}} | ||
{{short description|Business school of the University of Pennsylvania}} | |||
{{Infobox university | {{Infobox university | ||
| name |
| name = Wharton School | ||
| other_name = The Wharton School, Wharton | | other_name = The Wharton School of Business, The Wharton School, Wharton | ||
| |
| former_names = Wharton School of Finance and Economy (1881–1902)<br> | ||
Wharton School of Finance and Commerce (1902–1972) | |||
| image_name = Penn Wharton.svg | |||
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| image_name = Penn Wharton.svg | ||
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| image_upright = 1.2 | ||
| image_alt = Logo of the Wharton School | |||
| established = {{start date|1881}} | |||
| |
| established = {{start date and age|1881}} | ||
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| type = ] ] | ||
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| parent = ] | ||
| founder = ] | |||
| endowment = ]1.289 billion {{small|(2015)}}<ref>{{cite web |url=http://poetsandquants.com/2016/04/04/businessschoolendowments/3/ |title=America's Wealthiest Business Schools |p=3 |first1=Daniel J. |last1=Bonsoms |date=April 4, 2016}}</ref> | |||
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| endowment = $21 billion (2023, parent)<ref>{{cite web |url=https://investments.upenn.edu/about-us |title=Warton About Us web page |date=November 3, 2023}}</ref> | ||
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| dean = ]<ref name="dean">{{cite web |url=https://mgmt.wharton.upenn.edu/profile/ehjames/ |title=Management Department – |access-date=July 7, 2020}}</ref> | ||
| faculty = 486 (2018)<ref name=About /><ref group=note>241 standing faculty members plus 243 non-standing faculty members</ref> | |||
| students = 4,779 {{small|(2017)}}<ref name=About>{{cite web |title=Wharton School: Facts and Figures |url=http://www.wharton.upenn.edu/about/facts-and-figures.cfm |publisher=The Wharton School, University of Pennsylvania |accessdate=October 27, 2016}}</ref> | |||
| students = 5,063 (2018)<ref name=About>{{cite web |title=About Wharton |url=https://www.wharton.upenn.edu/about-wharton/ |website=The Wharton School |publisher=University of Pennsylvania |access-date=19 January 2020}}</ref> | |||
| undergrad = 2,559 {{small|(2017)}}<ref name=About /> | |||
| |
| undergrad = 2,617 (2018)<ref name=About /> | ||
| |
| postgrad = 1,784 MBA (2018)<ref name=About /> <br />463 EMBA (2018)<ref name=About /><br />199 PhD (2018)<ref name=About /> | ||
| coor = {{Coord|39.953232|N|75.197993|W|format=dms|region:US-MA_scale:10000_source:placeopedia|display=inline,title}} | | coor = {{Coord|39.953232|N|75.197993|W|format=dms|region:US-MA_scale:10000_source:placeopedia|display=inline,title}} | ||
| city = ] | | city = ] | ||
| state = ] | | state = ] | ||
| country |
| country = U.S. | ||
| website = {{URL|https://www.wharton.upenn.edu |
| website = {{URL|https://www.wharton.upenn.edu|wharton.upenn.edu}} | ||
| motto = ''Knowledge for action'' | | motto = ''Knowledge for action'' | ||
| logo = | | logo = | ||
}} | }} | ||
'''The Wharton School''' ({{IPAc-en|ˈ|hw|ɔːr|t|ən}} {{respell|WHOR|tən}}) is the ] of the ], a private ] research university in ]. Established in 1881 through a donation from ], a co-founder of ], the Wharton School is the world's oldest collegiate business school, and one of six ].<ref name=About /> | |||
The Wharton School awards undergraduate and graduate degrees with a school-specific ] ] and concentrations in over 18 disciplines in Wharton's academic departments. The undergraduate degree is a general business degree focused on core business skills. At the graduate level, the ] program can be pursued by itself or along with dual studies leading to a joint degree from its law, engineering, and government schools. | |||
The Wharton School awards ] in ] degrees at the undergraduate level and ] degrees at the postgraduate level, both of which require the selection of a ]. Wharton also offers a doctoral program and houses, or co-sponsors, several diploma programs either alone or in conjunction with the other schools at the university.<ref name="WhartonPhDprograms">{{cite web |url=http://doctoral.wharton.upenn.edu/programs-of-study/ |title=Wharton Doctoral Programs – Programs of Study |accessdate=February 10, 2015 |work=Wharton School of the University of Pennsylvania – Doctoral Inside |publisher=Wharton School, University of Pennsylvania}}</ref> | |||
In addition to its tracks in accounting, finance, operations, statistics, and other academic departments, the doctoral and post-doctoral programs co-sponsor several diploma programs in conjunction with other schools within the university.<ref name="WhartonPhDprograms">{{cite web |url=http://doctoral.wharton.upenn.edu/programs-of-study/ |title=Wharton Doctoral Programs – Programs of Study |access-date=February 10, 2015 |work=Wharton School of the University of Pennsylvania – Doctoral Inside |publisher=Wharton School, University of Pennsylvania}}</ref> | |||
Wharton's ] program is ranked No. 1 in the United States according to ]<ref>{{cite web |url=https://www.forbes.com/business-schools/ |title=Best Business Schools 2017 |website=Forbes}}</ref> and No. 3 in the United States according to the 2019 '']'' ranking.<ref name=USNWR_MBA>{{cite web |url=https://www.usnews.com/best-graduate-schools/top-business-schools |title=Best Business Schools |work=U.S. News & World Report |date=March 13, 2017}}</ref> Meanwhile, Wharton's MBA for Executives and undergraduate programs are also ranked No. 2 in the United States by the same publication.<ref name=USNWR_UG>{{cite web |url=http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/business-overall |title=Best Undergraduate Business Programs |work=U.S. News & World Report |year=2017}}</ref><ref>https://www.usnews.com/best-graduate-schools/top-business-schools/executive-rankings</ref> According to ''US News'', MBA graduates of Wharton earn an average $159,815 first year base pay not including bonuses, the highest at leading schools.<ref>{{Cite web |url=https://poetsandquants.com/2018/08/13/whats-your-worth-mba-pay-by-region/9/|title=2017 MBA Pay: Overall and Base Pay (2018) |last=Byrne |first=John A. |date=August 13, 2018 |website=Poets&Quants |access-date=August 13, 2018}}</ref><ref>{{Cite web |url=https://www.usnews.com/best-graduate-schools/top-business-schools/university-of-pennsylvania-wharton-01194?int=9dc208 |title=U.S. News Top Business Schools |website= |archive-url=https://web.archive.org/web/20170315092043/https://www.usnews.com/best-graduate-schools/top-business-schools/university-of-pennsylvania-wharton-01194?int=9dc208 |archive-date=March 15, 2017 |dead-url=yes}}</ref> Following ] and ], Wharton's MBA program has the 3rd highest average ] score of 730 (97th percentile) for its entering class.<ref>{{cite web |url=https://poetsandquants.com/2017/09/20/an-early-look-at-the-latest-gmat-scores-at-top-schools/2/ |title=An Early Look at the Latest GMAT Scores – Page 2 of 2 |date=September 20, 2017}}</ref> According to another publication, Wharton produces the 3rd most CEOs of the 100 top companies on the ] list, behind ] and ].<ref>{{cite web |url=https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2014/06/18/where-top-ceos-went-to-business-school |title=Map: Where Fortune 100 CEOs Earned MBAs |work=U.S. News & World Report |date=March 21, 2017 |accessdate=March 22, 2018 |first=Ilana |last=Kowarski}}</ref> In general, Wharton has over 95,000 alumni in 153 countries,<ref name=About /> with notable figures such as ], ], ], ], ], ], ], ], ], ], ], ], ], ], ], ], and ]. Its alumni include the CEOs of ], ], ], ], ], ], ], ], ], ], ], ], ], ], ], ], ], and ].<ref>{{cite web |url=http://www.businessinsider.com/oracles-new-co-ceo-is-safra-catz-2014-9 |title=Meet New Oracle Co-CEO Safra Catz, The Highest-Paid Female Executive in the World}}</ref> | |||
The school belongs to the ] group of elite business schools which recognize each other as peers. Other members are ], ], ], ], ], and ].<ref>{{cite web |url=https://poetsandquants.com/2018/02/16/m7-business-schools/ |title=List of the Super Elite M7 Business Schools}}</ref><ref>{{cite web |url=http://www.wharton.upenn.edu/news/3631.cfm |title="President's Summit": Heads of Seven Major Business School MBA Student Governments Launch "MBA Peer School Forum" for Inter-school Cohesion and Collaboration |deadurl=yes |archiveurl=https://web.archive.org/web/20101204200018/http://www.wharton.upenn.edu/news/3631.cfm |archivedate=December 4, 2010 |df=}}</ref><ref>{{cite web |url=http://www.kellogg.northwestern.edu/News_Articles/2009/sevenschools.aspx |title=The Kellogg School hosts the Seven Schools Forum}}</ref> | |||
== History == | == History == | ||
=== Founding=== | |||
], the school's founder and namesake]] | |||
], the school's founder and namesake]] | |||
], a native ]n, was a leader in industrial ] who built his fortune through the American Nickel Company and ]. As Wharton's business grew, he recognized that business knowledge in the United States was only taught through an apprenticeship system, and such a system was not viable for creating a wider economy during the ].<ref name="thebhc.org">{{cite web |url=http://www.thebhc.org/publications/BEHprint/v012/p0029-p0036.pdf |title=History in Schools of Business |author1=Daniel A. Wren |author2=David D. Van Fleet |website=The Business History Conference |access-date=March 3, 2016 |url-status=dead |archive-url=https://web.archive.org/web/20140312001136/http://www.thebhc.org/publications/BEHprint/v012/p0029-p0036.pdf |archive-date=March 12, 2014}}</ref> | |||
After two years of planning, Wharton in 1881 founded the Wharton School of Finance and Economy through a $100,000 initial pledge, making it the first business school established in the United States.<ref name="archives.upenn.edu">{{cite web |url=http://www.archives.upenn.edu/histy/features/schools/wharton.html |title=Wharton School of Business: A Brief History |access-date=March 22, 2018 |publisher=Penn University Archives & Records Center |url-status=dead |archive-url=https://web.archive.org/web/20121017094341/http://www.archives.upenn.edu/histy/features/schools/wharton.html |archive-date=Oct 17, 2012 }}</ref> ], established in 1819, and a few other business schools were established in Europe prior to Wharton's founding<ref>{{cite journal |last1=Kaplan |first1=Andreas M |year=2014 |title=European Management and European Business Schools: Insights from the History of Business Schools |doi=10.1016/j.emj.2014.03.006 |journal=European Management Journal |volume=32 |issue=4 |pages=529–534}}</ref> The school was meant to train future leaders to conduct corporations and public organizations in a rapidly evolving industrial era. Wharton was quoted as saying that the school was meant to "instill a sense of the coming strife : of the immense swings upward or downward that await the competent or the incompetent soldier in this modern strife."<ref name="thebhc.org" /> | |||
From the founding of the school, he defined that its goal was "to provide for young men special means of training and of correct instruction in the knowledge and in the arts of modern Finance and Economy, both public and private, in order that, being well informed and free from delusions upon these important subjects, they may either serve the community skillfully as well as faithfully in offices of trust, or, remaining in private life, may prudently manage their own affairs and aid in maintaining sound financial morality: in short, to establish means for imparting a liberal education in all matters concerning Finance and Economy |
From the founding of the school, he defined that its goal was "to provide for young men special means of training and of correct instruction in the knowledge and in the arts of modern Finance and Economy, both public and private, in order that, being well informed and free from delusions upon these important subjects, they may either serve the community skillfully as well as faithfully in offices of trust, or, remaining in private life, may prudently manage their own affairs and aid in maintaining sound financial morality: in short, to establish means for imparting a liberal education in all matters concerning Finance and Economy."<ref>{{Cite book |url=https://books.google.com/books?id=ATDuA-p2vSUC&q=%22wharton+school+of+finance+and+economy%22&pg=PA206 |title=Joseph Wharton: Quaker industrial ... – Google Books |access-date=August 9, 2010|isbn=9780934223003 |last1=Yates |first1=Willard Ross |year=1987 }}</ref> The school was renamed the Wharton School of Finance and Commerce, in 1902,<ref>{{cite web |url=http://www.wharton.upenn.edu/about/wharton-history.cfm |title=About Wharton—Wharton History |access-date=October 5, 2014}}</ref> and formally changed its name to simply Wharton School in 1972.<ref>{{cite news |title=U. of Pennsylvania Shortens Name of Wharton School |work=The New York Times |url=https://www.nytimes.com/1972/05/16/archives/u-of-pennsylvania-shortens-name-of-wharton-school.html |date=May 16, 1972 |access-date=August 16, 2020}}</ref> | ||
=== Development === | |||
Early on, the Wharton School faculty was tightly connected to an influential group of businessmen, bankers and lawyers that made up the larger Philadelphia School of Political Economy.<ref name="wharton.upenn.edu">{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/timeline/1881.html |title=Wharton: A Century of Leadership |publisher=Wharton.upenn.edu |accessdate=October 4, 2012}}</ref> The faculty incorporated social sciences into the Wharton curriculum, as the field of business was still under development. Albert S. Bolles, a lawyer, served as Wharton's first professor,<ref>{{cite web |url=http://www.archives.upenn.edu/faids/upb/upb5/upb5_9ir.html |title=Wharton: Archival Collections |publisher=University of Pennsylvania |date=October 4, 2014}}</ref> and the school's Industrial Research Unit was established in 1921.<ref>{{cite web |url=http://www.wharton.upenn.edu/innovationHistory/leaders.html |title=Wharton: A Century of Innovation |publisher=Wharton School |accessdate=January 3, 2014}}</ref> | |||
Early on, the Wharton School faculty was tightly connected to an influential group of businessmen, bankers, and lawyers that made up the larger Philadelphia School of Political Economy.<ref name="wharton.upenn.edu">{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/timeline/1881.html |title=Wharton: A Century of Leadership |publisher=Wharton.upenn.edu |access-date=October 4, 2012}}</ref> The faculty incorporated social sciences into the Wharton curriculum, as the field of business was still under development. Albert S. Bolles, a lawyer, served as Wharton's first professor,<ref>{{cite web |url=http://www.archives.upenn.edu/faids/upb/upb5/upb5_9ir.html |title=Wharton: Archival Collections |publisher=University of Pennsylvania |date=October 4, 2014}}</ref> and the school's Industrial Research Unit was established in 1921.<ref>{{cite web |url=http://www.wharton.upenn.edu/innovationHistory/leaders.html |title=Wharton: A Century of Innovation |publisher=Wharton School |access-date=January 3, 2014 |archive-date=January 16, 2013 |archive-url=https://web.archive.org/web/20130116181606/http://www.wharton.upenn.edu/innovationHistory/leaders.html |url-status=dead }}</ref> | |||
Wharton professor ], who later won the Nobel Prize in Economics, created statistical data on national output, prices, investment, and capital stock |
Wharton professor ], who later won the Nobel Prize in Economics, created statistical data on national output, prices, investment, and capital stock and measured seasonability, cycles, and secular trends of these phenomena. His work laid out what became the standard procedure for measuring the ] and the ], and he later led an international effort to establish the same statistical information for all national economies.<ref name="auto">{{cite web |url=http://www.wharton.upenn.edu/innovationHistory/boom.html |title=Wharton: From Boom to Bust to Boom |publisher=Wharton School |access-date=January 3, 2014}}</ref><ref name="kuznets">{{cite web |quotation=Congress commissioned Kuznets to create a system that would measure the nation's productivity in order to better understand how to tackle the Great Depression |author=Simon Kuznets |year=1934 |title="National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7 Simon Kuznets, 1934. "National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7. Simon Kuznets, 1934. "National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124 |pages=5–7 |url=https://fraser.stlouisfed.org/scribd/?title_id=971&filepath=/docs/publications/natincome_1934/19340104_nationalinc.pdf |website=Frasedr.stlouisfed.org |access-date=March 3, 2016}}</ref> Professor ], who also won the Nobel Prize in Economics, developed the first econometric model of the U.S. economy, which combined economic theory with mathematics, providing another way to test theories and predict future economic trends.<ref name="auto" /> | ||
Wharton professor ] is credited with founding the academic field of study known as ].<ref name="Shils1">Shils, "George W. Taylor: Industrial Peacemaker |
Wharton professor ] is credited with founding the academic field of study known as ].<ref name="Shils1">Shils, "George W. Taylor: Industrial Peacemaker", ''Monthly Labor Review,'' December 1995.</ref> He served in several capacities in the federal government, most notably as a ] and ]. During his career, Taylor settled more than 2,000 ].<ref name="NYTimes">"George W. Taylor Dies at 71", ''The New York Times,'' December 17, 1972.</ref> In 1967, he helped draft the ] State ] law that legalized ] in the state but that also banned strikes by public employees—legislation widely known today as the ].<ref name="Donovan">Donovan, ''Administering the Taylor Law: Public Employee Relations in New York,'' 1990.</ref> | ||
Wharton professor ] ( |
Wharton professor ] (1898–1964) is widely recognized as the most important marketing theorist of the twentieth century<ref name="Jones, D.G.B 2003">Jones, D.G.B. and Shaw, E.H., (2003) ''A History of Marketing Thought, in the Handbook of Marketing'', ed. Wertz, B. and Wensley, R.</ref> and the "father of modern marketing."<ref>{{cite journal |last1=Shaw |first1=Eric H. |last2=Lazer |first2=William |last3=Stephen |first3=F. Pirog III |year=2007 |title=Wroe Alderson: father of modern marketing |journal=European Business Review |volume=19 |issue=6 |pages=440–451 |doi=10.1108/09555340710830091}}</ref><ref>{{cite web |url=http://www.wharton.upenn.edu/125anniversaryissue/alderson.html |title=A Giant of Marketing Theory: Wroe Alderson, Professor |publisher=Wharton School |date=August 16, 2007 |work=125 Influential People and Ideas |url-status=dead |archive-url=https://web.archive.org/web/20151222213416/https://www.wharton.upenn.edu/125anniversaryissue/alderson.html |archive-date=Dec 22, 2015 }}</ref> Wharton professor Paul Green is considered to be the "father of conjoint analysis" for his discovery of the statistical tool for quantification of market research.<ref>{{cite web |url=http://www.wharton.upenn.edu/125anniversaryissue/green.html |title=The Father of Conjoint Analysis: Paul Green, Professor |publisher=Wharton School |date=August 16, 2007 |work=125 Influential People and Ideas |url-status=dead |archive-url=https://web.archive.org/web/20151222224820/http://www.wharton.upenn.edu/125anniversaryissue/green.html |archive-date=Dec 22, 2015 }}</ref> | ||
Wharton professor ] is known widely as "the father of insurance education." He originated the concept of "human life value |
Wharton professor ] is known widely as "the father of insurance education." He originated the concept of "human life value," which became a standard method of calculating insurance value and need. He established the goal of professionalism in the field of insurance, developed the first collegiate-level program in insurance and chaired the Department of Insurance at Wharton, and contributed greatly to the progress of adult education in this area.<ref>{{cite web |url=http://www.wharton.upenn.edu/125anniversaryissue/huebner.html |title=The Father of Insurance Education: Solomon S. Huebner, GrW'13, Professor |publisher=Wharton School |date=August 16, 2007 |work=125 Influential People and Ideas |url-status=dead |archive-url=https://web.archive.org/web/20141002091141/http://www.wharton.upenn.edu/125anniversaryissue/huebner.html |archive-date=October 2, 2014 }}</ref> Wharton professor Daniel M. McGill was widely regarded as the "dean of the pension industry,"<ref>{{cite web |url=http://www.pionline.com/article/20130318/PRINT/303189993/dan-mcgill-undisputed-dean-of-pension-industry-dies |title=Dan McGill, 'undisputed dean' of pension industry, dies |first1=Barry B. |last1=Burr |publisher=Pensions & Investments |date=March 18, 2013}}</ref> whose research contributed to shaping the modern retirement system both in the public and corporate sectors.<ref>{{cite web |url=http://www.wharton.upenn.edu/125anniversaryissue/mcgill.html |title=Paved the Way for Pension Reform: Daniel M. McGill, GrW'47, Professor |publisher=Wharton School |date=August 16, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20141209060625/http://www.wharton.upenn.edu/125anniversaryissue/mcgill.html |archive-date=Dec 9, 2014 |work=125 Influential People and Ideas }}</ref> | ||
In 1946, after ] was created at |
In 1946, after ] was created at the University of Pennsylvania, Wharton created the first multidisciplinary programs in ] with the School of Engineering and Applied Science.<ref name="auto1">{{cite web |url=http://www.wharton.upenn.edu/innovationHistory/technology.html |title= From ENIAC to Emerging Technology |publisher=Wharton School |access-date=January 3, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20141006080434/http://www.wharton.upenn.edu/innovationHistory/technology.html |archive-date=Oct 6, 2014 |work=Wharton Innovations }}</ref> Wharton faculty began to work closely with ], ], ], ], and the ] in analyzing the strategic and commercial implications of information systems.<ref name="auto1" /> | ||
The Wharton School's first business professor was an attorney, Albert Bolles. At the time, there were no other business schools and no business professors could be recruited elsewhere. Bolles, a lawyer by education and training, and business journalist by career |
The Wharton School's first business professor was an attorney, Albert Bolles. At the time, there were no other business schools, and no business professors could be recruited elsewhere. Bolles, a lawyer by education and training, and business journalist by career seemed to be the best option for Joseph Wharton.<ref>{{Cite book |last=Jones |first=Geoffrey |url=https://books.google.com/books?id=ro-kEAAAQBAJ&pg=PA130 |title=Deeply Responsible Business: A Global History of Values-Driven Leadership |date=2023 |publisher=Harvard Univ Press |isbn=978-0-674-91653-1 |location= |pages=130 |oclc=1345218478}}</ref> Bolles started his career as a lawyer in Connecticut in the second half of the 19th century. After resigning from his law firm, he started pursuing a new career in business journalism and was promoted to the editor role of ''Bankers Magazine'', a trade publication, in 1880. Upon joining the Wharton School, he began teaching business with classes on the law of governing finance and on the processes of commercial banking. Bolles' instruction in finance was influenced by his previous experience in ''Bankers Magazine'': he stressed conservative business practices, drawing on business history as much as he could. In his classes, inflationist Congressmen were "self-interested debtors." Besides teaching, Bolles advocated for several national reforms, including the uniform banking law. Wharton historian Steven A. Sass wrote about him, "Bolles thus fulfilled Joseph Wharton's pedagogic expectations and…got the new school off to a respectable start by the spring of 1883."<ref name="thebhc.org" /> In 1884, the first five business students were awarded a Bachelor of Finance degree. One graduate, Shiro Shiba, returned to Japan where he would become a member of the ], the Japanese parliament, and another, ], later was named ].<ref name="wharton.upenn.edu" /> | ||
Classes in business and finance abounded at the Wharton School, but it |
Classes in business and finance abounded at the Wharton School, but it lacked in any other areas of business interest. ], with a doctorate from the ] in Germany, reinvigorated the school's curriculum, starting classes on political finance and administration. Later in 1885, James argued for redesigning the course of study at Wharton with elements of German higher education. He wanted to include training in banking, railroading, merchandising, manufacturing, and other similar branches, and expand the course's length to four years from the initial three. Joseph Wharton in November 1893 pledged an additional $75,000 to the school in order to implement James' ideas in the school's curriculum. A more comprehensive study plan was then rolled out.<ref name="thebhc.org" /> Between 1895 and 1915, James started teaching at Wharton the new fields of finance and management as they were developing in the business world. The Wharton School improved its reputation from a bunch of academic "misfits," and some of its alumni rose in the U.S. business world.<ref name="archives.upenn.edu"/> During this period, the school continued to attract additional faculty members and expand its research programs.<ref name="About Wharton: Past Leaders">{{cite web |url=http://www.wharton.upenn.edu/about/past-leaders.cfm |title=About Wharton: Past Leaders |publisher=Wharton School |access-date=January 1, 2014}}</ref> | ||
Wharton began awarding MBA degrees in 1921.<ref name="archives.upenn.edu" /> In 1942, during ], in the same fashion of other schools, Wharton's full-time faculty dropped dramatically from 165 to 39 by 1944. According to school historians, members of the faculty were called upon for special posts.<ref>{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/timeline/1940.html |title=Wharton: A Century of Leadership |publisher=Wharton.upenn.edu | |
Wharton began awarding MBA degrees in 1921.<ref name="archives.upenn.edu" /> The first woman to earn an MBA at Wharton was ], in 1931.<ref>{{Cite web |last=Scheffler |first=Ian |date=March 10, 2023 |title=Wharton's First Alumna: A Champion of Inclusive Education |url=https://magazine.wharton.upenn.edu/digital/whartons-first-alumna-a-champion-of-inclusive-education/ |access-date=2023-07-07 |website=Wharton Magazine |language=en-US}}</ref> In 1942, during ], in the same fashion of other schools, Wharton's full-time faculty dropped dramatically from 165 to 39 by 1944. According to school historians, members of the faculty were called upon for special posts.<ref>{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/timeline/1940.html |title=Wharton: A Century of Leadership |publisher=Wharton.upenn.edu |access-date=October 4, 2012}}</ref> In 1959, Wharton adopted the curriculum that is now taught in most major business schools: the program was changed with liberal arts education doubling to almost half of the curriculum.{{Citation needed|date=January 2023}} In 1974 the social sciences department, along with the rest of the university's liberal arts programs, was moved to the newly created ].<ref>{{Cite web |title=Brief History: School of Arts and Sciences |url=https://archives.upenn.edu/exhibits/penn-history/school-histories/sas/ |access-date=2023-01-19 |website=University Archives and Records Center |language=en}}</ref> Since then, Wharton faculty have focused exclusively on various aspects of business education.<ref>{{Cite web |title=Academic Programs |url=https://www.wharton.upenn.edu/academic-programs/ |access-date=2023-01-19 |website=The Wharton School |language=en-US}}</ref><ref>{{Cite book |last=Herbst |first=Marcel |url=https://www.worldcat.org/oclc/1080435930 |title=Reflections on Society and Academia : Cultures Adrift. |date=2018 |publisher=Cambridge Scholars Publishing |isbn=978-1-5275-2338-8 |location=Newcastle-upon-Tyne |pages=26 |oclc=1080435930}}</ref> | ||
Official historical names of the institution include the Wharton School of Finance and Economy, from 1881 to 1901, and the Wharton School of Finance and Commerce, from 1902 to 1971.<ref name="Wharton History">{{cite web |url=http://www.wharton.upenn.edu/about/wharton-history.cfm |title=Wharton History and Innovations in Business |date=August 16, 2005 |work=Wharton School of the University of Pennsylvania |publisher=Wharton School, University of Pennsylvania}}</ref> | Official historical names of the institution include the Wharton School of Finance and Economy, from 1881 to 1901, and the Wharton School of Finance and Commerce, from 1902 to 1971.<ref name="Wharton History">{{cite web |url=http://www.wharton.upenn.edu/about/wharton-history.cfm |title=Wharton History and Innovations in Business |date=August 16, 2005 |work=Wharton School of the University of Pennsylvania |publisher=Wharton School, University of Pennsylvania}}</ref> | ||
The Jay H. Baker Retailing Center at Wharton was permanently endowed by alumnus Jay H. Baker in 2010.<ref>{{cite news| url=https://philanthropynewsdigest.org/news/wharton-school-receives-15-million-to-endow-industry-research-center |title=Wharton School Receives $15 Million to Endow Industry Research Center |work=] |date=November 1, 2010 |access-date=April 19, 2022}}</ref> It is an interdisciplinary industry research center which was originally established in 2002.<ref>{{cite web|url=https://news.wharton.upenn.edu/press-releases/2010/10/wharton-school-announces-15-million-gift-from-patty-and-jay-h-baker-to-establish-the-jay-h-baker-retailing-center/ |title=Wharton School Announces $15 Million Gift from Patty and Jay H. Baker to Establish the Jay H. Baker Retailing Center |website=news.wharton.upenn.edu |date=October 28, 2010 |access-date=April 19, 2020}}</ref> The center brings together retail leaders, faculty, and students to discuss the opportunities and challenges of retailers.<ref>{{cite web|url=https://bakerretail.wharton.upenn.edu/about/ |title=About Us |website=Baker Retailing Center |access-date=April 19, 2020}}</ref> The Baker Retailing Center also hosts an annual CEO Summit in New York City.<ref>{{cite news|url=https://www.forbes.com/sites/gregpetro/2022/03/18/marrying-consumer-expectations-with-values |title=Marrying Consumer Expectations With Values |work=] |first=Greg |last=Petro |date=March 18, 2022 |access-date=April 19, 2022}}</ref> | |||
== Campus == | |||
] | |||
On February 26, 2020, ] was named dean of the Wharton School,<ref name="Penn Today Press Release, 26 Feb 2020">{{cite web | url=https://penntoday.upenn.edu/news/erika-h-james-named-dean-penns-wharton-school | title=Erika H. James named dean of Penn's Wharton School | publisher=Office of University Communications, University of Pennsylvania | work=Press Release | date=26 February 2020 | access-date=9 March 2020}}</ref> effective July 1, 2020. She is both the first woman and the first African-American to lead the business school.<ref>{{Cite news|last=Thomas|first=Patrick|url=https://www.wsj.com/articles/wharton-names-first-female-dean-11582746974|title=Wharton Names First Female Dean|date=2020-02-27|work=]|access-date=2020-03-09|language=en-US|issn=0099-9660}}</ref> | |||
== Campus == | |||
=== Philadelphia campus === | === Philadelphia campus === | ||
] | |||
The Philadelphia campus of the Wharton School has four primary buildings, Jon M. Huntsman Hall, Steinberg Hall-Dietrich Hall, Vance Hall, and Lauder-Fischer Hall.<ref>{{cite web |url=http://www.wharton.upenn.edu/locations/philadelphia-campus.cfm |title=Wharton School: Philadelphia Campus |publisher=Wharton.upenn.edu |year=2010}}</ref> In addition, the Steinberg Conference Center houses the Aresty Institute of Executive Education.<ref>{{cite web |url=http://executiveeducation.wharton.upenn.edu/executive-education-resources/plan-your-stay/philadelphia/steinberg-conference-center |title=Steinberg Conference Center |publisher=Wharton.upenn.edu |year=2010}}</ref> | |||
Jon M. Huntsman Hall is the Wharton School's main building. The building is a 324,000-square-foot structure with 48 seminar and lecture halls, 57 group study rooms, and several auditoriums and conference rooms.<ref>{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/tour/facts_main.html |title=JON M. HUNTSMAN HALL |website=The Wharton School of the University of Pennsylvania |access-date=March 24, 2015}}</ref> It was constructed through a donation from Wharton alumnus ]. It also has a 4,000-square-foot forum, as well as a colloquium space on the top floor. | |||
The Philadelphia campus of the Wharton School has four primary buildings, Jon M. Huntsman Hall, Steinberg Hall-Dietrich Hall, Vance Hall and Lauder-Fischer Hall.<ref>{{cite web |url=http://www.wharton.upenn.edu/locations/philadelphia-campus.cfm |title=Wharton School: Philadelphia Campus |publisher=Wharton.upenn.edu |year=2010}}</ref> In addition, the Steinberg Conference Center houses the Aresty Institute of Executive Education.<ref>{{cite web |url=http://executiveeducation.wharton.upenn.edu/executive-education-resources/plan-your-stay/philadelphia/steinberg-conference-center |title=Steinberg Conference Center |publisher=Wharton.upenn.edu |year=2010}}</ref> | |||
Steinberg Hall-Dietrich Hall is a joint 180,000-square-foot structure comprising two adjacent halls. It was built in 1952 and expanded in 1983 through a donation from Wharton alumnus ], and houses the offices of several academic departments at the Wharton School.<ref>{{cite web |url=http://www-management.wharton.upenn.edu/hsu/inc/doc/steinberg-dietrich-hall.pdf |title=Steinberg Hall-Dietrich Hall |publisher=Wharton.upenn.edu |year=2010}}</ref> It also contains lecture halls, conference rooms and common areas for faculty and students. | |||
Jon M. Huntsman Hall is the Wharton School's main building. The building is a 324,000 square foot structure with 48 seminar and lecture halls, 57 group study rooms and several auditoriums and conference rooms.<ref>{{cite web |url=http://www.wharton.upenn.edu/huntsmanhall/tour/facts_main.html |title=JON M. HUNTSMAN HALL |website=The Wharton School of the University of Pennsylvania |accessdate=March 24, 2015}}</ref> It was constructed through a donation from Wharton alumnus ]. It also has a 4,000 square foot forum, as well as a colloquium space on the top floor. | |||
Vance Hall is a 107,000-square-foot structure built in 1972 to house Wharton's graduate programs, administrative offices, lecture halls, and meeting areas.<ref>{{cite web |url=http://www.facilities.upenn.edu/maps/locations/vance-hall |title=Vance Hall |publisher=Wharton.upenn.edu |year=2010}}</ref> | |||
Vance Hall is a 107,000 square foot structure built in 1972 to house Wharton's graduate programs, administrative offices, lecture halls and meeting areas.<ref>{{cite web |url=http://www.facilities.upenn.edu/maps/locations/vance-hall |title=Vance Hall |publisher=Wharton.upenn.edu |year=2010}}</ref> | |||
Lauder-Fischer Hall houses the ], and focuses mainly on international business teaching and research initiatives.<ref>{{cite web |url=http://lauder.wharton.upenn.edu/ |title=The Lauder Institute |publisher=Wharton.upenn.edu |year=2010}}</ref> The Lauder Institute was founded in 1983 by Wharton alumni ] and ]. | Lauder-Fischer Hall houses the ], and focuses mainly on international business teaching and research initiatives.<ref>{{cite web |url=http://lauder.wharton.upenn.edu/ |title=The Lauder Institute |publisher=Wharton.upenn.edu |year=2010}}</ref> The Lauder Institute was founded in 1983 by Wharton alumni ] and ]. | ||
In 2014, the Wharton School launched the Student Life Space in Philadelphia's central business district.<ref>{{cite web |url=https://spike.wharton.upenn.edu/mbaprogram/2401/ |title=Wharton School: 2401 Walnut |publisher=Wharton.upenn.edu |year=2010}}</ref> It is a 20,000 |
In 2014, the Wharton School launched the Student Life Space in Philadelphia's central business district.<ref>{{cite web |url=https://spike.wharton.upenn.edu/mbaprogram/2401/ |title=Wharton School: 2401 Walnut |publisher=Wharton.upenn.edu |year=2010}}</ref> It is a 20,000-square-foot space with conference rooms, meeting rooms and over 20 group study rooms. It also serves as an incubator space for startup companies.<ref>{{cite web |url=http://mba.wharton.upenn.edu/student-experience/wharton-campus/ |title=Philadelphia Campus: 2401 Walnut Student Life Space |publisher=Wharton.upenn.edu |year=2010}}</ref> | ||
In 2018, it was announced that a new 70,000-square-foot campus building for student entrepreneurship would be constructed, following a $25 million donation from the hedge fund manager and philanthropist ]. The building will be located at 40th and Sansom Streets, and is set to be completed by 2020.<ref>{{Cite web|url=https://penntoday.upenn.edu/news/wharton-school-receives-25-million-gift-nicolai-tangen-and-ako-foundation|title=Wharton School receives $25 million gift from Nicolai Tangen and AKO Foundation|website=Penn Today|language=en|access-date=2019-03-04}}</ref> | |||
=== San Francisco campus === | === San Francisco campus === | ||
In 2001, Wharton launched a |
In 2001, Wharton launched a satellite campus in ].<ref>{{cite web|url=https://www.sfgate.com/business/article/Sex-Golf-and-the-Wharton-School-of-Business-2955692.php|first1=Alan T.|last1=Saracevic|title=Sex, Golf and the Wharton School of Business|date=February 4, 2001|access-date=July 10, 2024|website=SFGATE|publisher=Hearst Communications, Inc.}}</ref> The Bay Area campus was created to capitalize on the growing ] culture and related ] of ]. It serves as a hub on the ] for its students and alumni.<ref>{{cite web |url=http://www.wharton.upenn.edu/sanfrancisco/world-class-facility/new-campus.cfm |title=Wharton San Francisco | New Campus 2012 |publisher=Wharton.upenn.edu |access-date=October 4, 2012}}</ref> As of 2012, the campus is open to executive MBA students and to full-time MBA students, who can decide to spend the spring semester of first year, or fall or spring semesters of second year of the MBA program in San Francisco in the Semester in San Francisco Program.<ref>{{Cite web |last=Byrne |first=John A. |date=2018-05-02 |title=Wharton Doubles Down On The Bay Area |url=https://poetsandquants.com/2018/05/02/wharton-doubles-down-on-the-bay-area/ |access-date=2023-01-22 |website=Poets&Quants |language=en-US}}</ref> For the full-time MBAs, the Semester in San Francisco Program focuses on entrepreneurship, technology, and venture capital.<ref>{{Cite web |title=Semester in San Francisco |url=https://sf.wharton.upenn.edu/semester-san-francisco/ |access-date=2023-01-22 |website=San Francisco |language=en-US}}</ref> | ||
== Undergraduate program == | == Undergraduate program == | ||
=== Admissions process === | === Admissions process === | ||
] | ] | ||
Prospective Wharton candidates apply in their senior year of high school either through the ] (ED) process or regular decision (RD) process. Unlike many other undergraduate business programs where students transfer in after their freshman or second year (University of Virginia's McIntire, Emory's Goizueta |
Prospective Wharton candidates apply in their senior year of high school either through the ] (ED) process or regular decision (RD) process. Unlike many other undergraduate business programs where students transfer in after their freshman or second year (University of Virginia's McIntire, Emory's Goizueta), Wharton applicants apply specifically for Wharton during their senior year of high school. These candidates are then grouped with a pool of applicants separate from those applying to the University of Pennsylvania's College of Arts and Sciences (CAS), School of Engineering and Applied Science (SEAS), or School of Nursing. Each of the other three schools also forms its own separate pool of applicants.<ref>{{cite web |url=http://www.wharton.upenn.edu/undergrad/ |title=Wharton Undergrad at the University of Pennsylvania |website=Wharton.upenn.edu |access-date=March 3, 2016}}</ref> | ||
The ] of applicants, defined as having a parent or another direct relative who attended the same academic institution, may be |
The ] of applicants, defined as having a parent or another direct relative who attended the same academic institution, may be considered in the admissions process. This correlation has been observed in a number of empirical studies conducted on the nation's most elite schools,<ref>; ''The Chronicle of Higher Education'', January 5, 2011</ref> with a particular focus on ] universities.<ref>; '']'', July 9, 2012</ref> Leading universities in the United States cite stronger alumni connections and continued support as the primary reasons for this practice. | ||
=== Graduation and employment === | === Graduation and employment === | ||
] | ]]] | ||
Wharton undergraduate students are required to graduate with a ] in ] with at least 1 of 21 current concentrations.<ref>{{Cite web|url=https://undergrad.wharton.upenn.edu/concentrations/|title=Concentrations|website=Undergraduate|language=en-US|access-date=2019-04-04}}</ref> Concentrations range from ] and ] to lesser-known studies such as business analytics and Social Impact & Responsibility. Obtaining a concentration requires a student to take four classes outside of what is required in the core curriculum.<ref>{{Cite web|url=https://undergrad-inside.wharton.upenn.edu/curriculum/|title=Curriculum|website=Undergrad Inside|language=en-US|access-date=2019-04-04}}</ref> Policy has recently changed such that Wharton students can graduate with a maximum of 2 concentrations rather than 3. | |||
In the 2015–16 school year, 334 employers participated in the on-campus recruiting process; each student received an average of 7.6 first-round interviews and 1.8 job offers.<ref name=WUG2016>{{cite web |title=Wharton Undergraduate Class of 2016: Career Plans Survey Report |url=http://www.vpul.upenn.edu/careerservices/files/WHA_2016cp.pdf |publisher=University of Pennsylvania Career Services'' |access-date=March 14, 2017}}</ref> About 48% of Wharton's typical undergraduate class of 650 students go into ], with the top sectors being ], ], and ].<ref name=WUG2016 /> The next most common industry after finance is ], which hires approximately 22% of the students, while a significant number of students enter marketing, sales, and the technology industry, particularly in ].<ref name=WUG2016 /> | |||
In the 2015–16 school year, 334 employers participated in the on-campus recruiting process; each student received an average of 7.6 first-round interviews and 1.8 job offers.<ref name="WUG2016">{{cite web|url=http://www.vpul.upenn.edu/careerservices/files/WHA_2016cp.pdf|title=Wharton Undergraduate Class of 2016: Career Plans Survey Report|publisher=University of Pennsylvania Career Services'|access-date=March 14, 2017}}</ref> About 48% of Wharton's typical undergraduate class of 650 students go into ], with the top sectors being ], ], and ].<ref name=WUG2016 /> The next most common industry after finance is ], which hires approximately 22% of the students, while a significant number of students enter marketing, sales, and the technology industry, particularly in ].<ref name=WUG2016 /> | |||
For the Class of |
For the Class of 2020, Wharton undergraduate students reported a median first-year base compensation of $86,217.<ref>{{Cite web|url=https://undergrad.wharton.upenn.edu/your-future/|title=Career Outcome Class of 2020|website= Wharton Undergrad Careers}}</ref> | ||
== Graduate programs == | == Graduate programs == | ||
=== MBA program === | === MBA program === | ||
] | ] | ||
The school offers two paths, an MBA for full-time students and an MBA for executives.<ref>{{cite web |url=http://www.wharton.upenn.edu/mbaexecutive/admissions/choosing/compare.cfm |title=Wharton eMBA: Compare Wharton's Executive MBA & Full MBA Education |publisher=Wharton.upenn.edu | |
The school offers two paths, an MBA for full-time students and an MBA for executives.<ref>{{cite web |url=http://www.wharton.upenn.edu/mbaexecutive/admissions/choosing/compare.cfm |title=Wharton eMBA: Compare Wharton's Executive MBA & Full MBA Education |publisher=Wharton.upenn.edu |access-date=August 9, 2010}}</ref> Students can elect to pursue double majors or individualized majors. During their first year, all students pursue a required core curriculum that covers traditional management disciplines—finance, marketing, statistics, and strategy—as well as the leadership, ethics, and communication skills needed at senior levels of management.<ref>{{cite web |url=http://www.wharton.upenn.edu/mba/academics/core.cfm |title=Core: Curriculum: MBA Resource Guide – The Wharton School of the University of Pennsylvania |publisher=Wharton.upenn.edu |date=July 13, 2009 |access-date=August 9, 2010}}</ref> Students pick electives in the second year.<ref>{{cite web |url=http://www.wharton.upenn.edu/mbaresource/courseindex/index.cfm |title=Course Index: MBA Resource Guide – The Wharton School of the University of Pennsylvania |publisher=Wharton.upenn.edu |date=July 17, 2009 |access-date=August 9, 2010}}</ref> | ||
Wharton MBA students may pursue a dual degree with the ], ]'s ] (SAIS), |
Wharton MBA students may pursue a dual degree with the ], ]'s ] (SAIS), ] at ], or with one of the graduate schools at the University of Pennsylvania. | ||
MBA students from the Class of |
MBA students from the Class of 2021 earn an average first-year salary and guaranteed compensation of $155,000. Additionally, the class reported a median sign-on bonus of $30,000 and a median guaranteed bonus of $28,204.<ref>{{cite web |url=https://statistics.mbacareers.wharton.upenn.edu/full-time/ |title=Full-Time – MBA Career Management – Career Statistics |publisher=The Wharton School, University of Pennsylvania}}</ref> The MBA program annually receives around 7,300 applications for the 850 places in the class. | ||
Wharton co-sponsored the Executive Master's in Technology Management Program (EMTM) with the University of Pennsylvania School of Engineering and Applied Science. Graduates received a |
Wharton co-sponsored the Executive Master's in Technology Management Program (EMTM) with the University of Pennsylvania School of Engineering and Applied Science. Graduates received a Master of Science in engineering (MSE) in the management of technology from the School of Engineering and Applied Science. The EMTM program ended in August 2014.<ref name="Executive Masters in Technology Masters Admissions">{{cite web |title=EMTM Admissions Announcement |url=http://www.emtm.upenn.edu/admissions/ |publisher=EMTM Admissions |access-date=January 1, 2014}}</ref> | ||
Wharton is also part of the Wharton-] Alliance. MBA students from each program can spend one period of study at the partner school, allowing Wharton students access to the INSEAD campuses in both Fontainebleau and Singapore.<ref>{{cite web |url=https://insead.wharton.upenn.edu/ |title=Wharton-INSEAD Alliance – The Wharton School of the University of Pennsylvania |website=Wharton-INSEAD Alliance}}</ref> | Wharton is also part of the Wharton-] Alliance. MBA students from each program can spend one period of study at the partner school, allowing Wharton students access to the INSEAD campuses in both ] and ].<ref>{{cite web |url=https://insead.wharton.upenn.edu/ |title=Wharton-INSEAD Alliance – The Wharton School of the University of Pennsylvania |website=Wharton-INSEAD Alliance}}</ref> Students who are interested in careers in technology industries also regularly study at Wharton's San Francisco campus.<ref name="auto2">{{cite web |url=https://sf.wharton.upenn.edu/ |title= Wharton San Francisco The Wharton School of the University of Pennsylvania|website= Wharton San Francisco }}</ref> | ||
=== Doctoral |
=== Doctoral programs === | ||
Wharton offers doctor of philosophy degrees in finance, applied economics, management and other business fields (as opposed to some schools, which grant ]).<ref name="WhartonPhDprograms" /> |
Wharton offers doctor of philosophy degrees in finance, applied economics, management, and other business fields (as opposed to some schools, which grant ]).<ref name="WhartonPhDprograms" /> | ||
It takes approximately four to six years to complete the doctoral program. Wharton also offers a dual master's degree in statistics and data science for students enrolled in other doctoral programs at the university. <ref name="Dual Masters in Statistics and Data Science">{{cite web | |||
|url=https://doctoral-inside.wharton.upenn.edu/dual-master-of-arts-in-statistics-and-data-sciences/ | |||
|title=Dual Master of Statistics and Data Science | |||
|author=Doctoral Inside, The Wharton School | |||
|date=2022-12-07 | |||
|website=wharton.upenn.edu | |||
|publisher=The Wharton School | |||
|access-date=2024-04-22 | |||
}}</ref> | |||
Students who are interested in careers in technology industries also regularly study at Wharton's San Francisco campus.<ref name="auto2"/> | |||
== Executive Education == | == Executive Education == | ||
The Wharton School also operates the Aresty Institute of Executive Education (commonly known as "Wharton Executive Education"), a center for continuing business education for senior executives. The institute is named in honor of civic leader, business owner, philanthropist, and Wharton alumnus Julian Aresty and his brother Joseph Aresty, who together endowed the Aresty Institute for Executive Education in 1987.<ref>{{cite web |title=Campus News Briefs |url=http://www.thedp.com/article/1999/09/campus_news_briefs_wednesday_september_29_1999 |work=] |accessdate=July 5, 2018}}</ref> | |||
Wharton Executive Education offers programs for executives in areas such as finance, marketing, strategy, and innovation. Each year, more than 10,000 professionals from around the world attend Wharton Executive Education programs in classes taught by full-time Wharton faculty. | |||
Wharton offers more than 50 open-enrollment programs for individuals on campuses in Philadelphia, San Francisco, and Beijing, China. Wharton also overs three long duration open-enrollment programs that confer alumni status upon successful completion. These programs are the Advanced Finance Program, Advanced Management Program, and the General Management Program. | |||
In addition to a large portfolio of open-enrollment programs for individuals, Wharton Executive Education also offers customized programs for organizations. Custom program topic areas include Finance & Value Creation, Leadership Development, Marketing & Sales, and Strategy & Innovation. Industry areas of expertise include Consumer Products, Retail, Energy, Transportation, Financial Services, Health Care, Pharmaceuticals, Manufacturing & Industrials, Professional Services, Technology & Communications. | |||
== Wharton Online == | |||
Through its online division, Wharton offers ]s on ] with specializations in business and financial modeling, business analytics, entrepreneurship, and business foundations.<ref name="Wharton WOL">{{cite web |title=Wharton Online Learning |url=https://online.wharton.upenn.edu/ |work=Wharton School of the University of Pennsylvania |accessdate=February 3, 2017}}</ref> For executives who wish to focus their learning in key areas, Wharton Online offers the Leadership and Management Certificate and the Business Analytics Certificate. | |||
== Rankings == | |||
=== General rankings === | |||
{{Infobox business school rankings | {{Infobox business school rankings | ||
| QSglobal = |
| QSglobal = 2 | ||
| |
| BWg = 8 | ||
| USNWRglobal = 3 | |||
| Economist = 4 | |||
| FT = 3 | |||
| BWg = 2 | |||
| Forbes = 1 | |||
| USNWRg = 1 | | USNWRg = 1 | ||
| |
| QSUSA = 2 | ||
|FT=1|FTus=1|LinkedIn=4}} | |||
| BI = 1 | |||
| BWu = 16 | |||
| USNWRu = 1 | |||
}} | |||
On December 5, 2003, Wharton enacted a policy of declining to actively participate in the rankings of business school programs,<ref>{{cite web |url=http://yahoo.businessweek.com/magazine/content/04_16/b3879145_mz029.htm |title=Why Harvard And Wharton Are Wrong |work=Bloomberg BusinessWeek |publisher=Bloomberg LP |date=April 19, 2004}}</ref> citing student privacy concerns and the methodologies employed.<ref>{{cite web |url=http://www.businessweek.com/stories/2005-09-28/wharton-and-harvard-are-missing |title=Why Wharton and Harvard Are Missing |work=Bloomberg BusinessWeek |publisher=Bloomberg LP |date=September 29, 2005 |last=Di Meglio |first=Francesca |accessdate=October 4, 2012}}</ref> | |||
The Wharton School also operates the Aresty Institute of Executive Education, commonly known as "Wharton Executive Education", a center for continuing business education for senior executives. The institute is named in honor of civic leader, business owner, philanthropist, and Wharton alumnus Julian Aresty and his brother Joseph Aresty, who together endowed the Aresty Institute for Executive Education in 1987.<ref>{{cite web |title=Campus News Briefs |url=http://www.thedp.com/article/1999/09/campus_news_briefs_wednesday_september_29_1999 |work=] |access-date=July 5, 2018}}</ref> | |||
Wharton is widely regarded as one of the world's top institutions for business education. In 2014–2015, as well as 2017–2018, '']'' ranked Wharton's undergraduate program first in the U.S.,<ref name=USNWR_UG /> MBA program tied for first in the U.S.,<ref name=USNWR_MBA /> and executive MBA program also first,.<ref name="emba rank">, ''U.S.News & World Report'', 2014</ref> The undergraduate program at the Wharton School has been ranked number one by '']'' every single year since inception.{{citation needed|date=March 2017}} The '']'' has ranked the Wharton School first in the world in every single year between 2000 and 2009, and again in 2011, conferring Wharton with the best overall performance in the rankings.<ref name="rankings.ft.com">, '']'', January 22, 2007</ref> The Wharton School has also been ranked number one by '']'' four times in a row.<ref name="Bloomberg Consecutive Rankings">, ''Bloomberg Businessweek'', November 14, 2012</ref> | |||
Wharton Executive Education offers programs for executives in areas such as finance, marketing, strategy, and innovation. Each year, more than 10,000 professionals worldwide attend Wharton Executive Education programs in classes taught by full-time Wharton faculty. | |||
Wharton offers more than 50 open enrollment programs for individuals on campuses in Philadelphia, San Francisco, and Beijing, China. Wharton also overs three long-duration open-enrollment programs that confer alumni status upon successful completion. These programs are the Advanced Finance Program, Advanced Management Program, and the General Management Program. Some programs eligible for alumni status, Wharton Programs for Working Professionals (WPWP), for example, <ref>{{cite web |title=Wharton Programs for Working Professionals | |||
|url=https://almanac.upenn.edu/archive/volumes/v54/n06/wharton.html |work=] |access-date=June 24, 2024}}</ref> are not offered anymore. However, graduates of these programs are still qualified for "Alumni, Non-Degreed" status by Penn.<ref>{{cite web |title=Membership Opportunities | |||
|url=https://www.pennclub.org/membership/faq |work=] |access-date=June 24, 2024}}</ref> | |||
In addition to a large portfolio of open-enrollment programs for individuals, Wharton Executive Education also offers customized programs for organizations. Custom program topic areas include Finance and Value Creation, Leadership Development, Marketing and Sales, and Strategy and Innovation. Industry areas of expertise include Consumer Products, Retail, Energy, Transportation, Financial Services, Health Care, Pharmaceuticals, Manufacturing and Industrials, Professional Services, Technology and Communications. | |||
== Wharton Online == | |||
Wharton is well known for its standing in finance education. The school has been listed first on the ''U.S. News & World Report's'' "Best Finance Programs" list each consecutive year from its commencement.<ref name="Best Finance Programs">, ''U.S.News & World Report'', 2014</ref> Similarly, Wharton has maintained its top position in the finance specialization rankings of the ''QS Global 200 Business Schools Report 2013/14'', prompting '']'' to declare that "Wharton reigns supreme in finance, topping the table again".<ref name="QS Finance Specialization Rankings">, ''QS Global 200 Business Schools Report 2013/14 – Finance'', 2014</ref> The '']'' has deemed Wharton's undergraduate population as "the closest thing that exists to a Wall Street farm team", while ''Poets & Quants'' has described Wharton as offering the "single best degree" for an education and career in finance, marked by an "intense, competitive culture" within the student body.<ref name="UPenn's Wharton School vs. Columbia Business School">, ''Poets & Quants'', 2014</ref> | |||
Through its online division, Wharton offers ]s on ] with specializations in business and financial modeling, business analytics, entrepreneurship, FinTech and business foundations.<ref name="Wharton WOL">{{cite web |title=Wharton Online Learning |url=https://online.wharton.upenn.edu/ |work=Wharton School of the University of Pennsylvania |access-date=February 3, 2017}}</ref> Wharton Online also offers a Leadership and Management Certificate and a Business Analytics Certificate. The division is accredited by the International Association for Continuing Education and Training (IACET); it was the first online business school to be accredited by this organization.<ref>{{Cite web|url=https://news.wharton.upenn.edu/press-releases/2018/11/wharton-named-first-business-school-to-receive-prestigious-iacet-accreditation-for-online-continuing-education-courses/|title=Wharton Named First Business School to Receive Prestigious IACET Accreditation for Online Continuing Education Courses|date=November 15, 2018}}</ref> | |||
Wharton also receives high reputation scores from academics and recruiters each year.<ref name="Best Graduate Schools">, ''U.S.News & World Report'', April 27, 2006</ref> | |||
The Wharton School has been ranked first for its Executive MBA Program in 2011, 2012, and 2013 by ''Poets & Quants'', in an integrated ranking system that takes into account data provided by '']'', '']'', the ''Wall Street Journal'', and the '']''.<ref>, ''Poets & Quants'', 2013</ref> | |||
=== Academic research rankings === | |||
Based on publications in 24 of the world's leading peer-reviewed journals, Wharton holds the top position in research productivity among business schools,<ref>{{cite web |title=Financial Times: Business School News |url=http://poetsandquants.com/2014/03/25/wharton-tops-new-research-ranking/ |accessdate=January 1, 2014}}</ref> and a report by ] indicated that the Wharton School has held the top rank in research productivity each year since 1986, when compilation of this information first commenced.<ref name="historical research output">{{cite web |url=http://www.bus.indiana.edu/ardennis/rankings/rank2001.htm |title=Trieschmann, J. S., Dennis, A. R., Northcraft, G. B., and Niemi, A. W. "Serving Multiple Constituencies in the Business School: MBA Program versus Research Performance" |accessdate=November 26, 2013 |work=Academy of Management: Supplement Table 1 to Research Study |publisher=Academy of Management Journal}}</ref> | |||
== Student life == | |||
The Wharton School adheres to ]s and is known for its competitive culture, its students receiving the highest aggregate competitiveness index score in the Princeton Review's study of 295 business schools.<ref name="Business Schools with the Most Competitive Students">, ''Poets & Quants'', 2014</ref> In order to promote a more collaborative atmosphere, the Wharton Graduate Association maintains and annually reaffirms a grade non-disclosure policy, consisting of two main principles.<ref name="Wharton Graduate Association: Grade Non-Disclosure Policy">, ''Wharton Graduate Association'', 2014</ref> The first is to "refrain from disclosing GPAs, specific class grades, class ranking, or transcripts to potential employers until a ] position has been offered". The second principle permits and encourages students to disclose general academic honors and distinctions. All employers adhere to this policy throughout the recruitment process at the Wharton School. | |||
The ] meant a rapid shift towards online teaching, transforming some of the classroom courses into online courses. For years there has been a strong investment in online education, so the school has been able to adapt well to the new circumstances, according to the '']'' analysis on the adaptation of business schools to COVID-19.<ref>{{Cite web|title=FT Executive Education Rankings 2020: analysis amid the pandemic|url=https://www.ft.com/content/1c3f4b42-8172-11ea-b6e9-a94cffd1d9bf |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/1c3f4b42-8172-11ea-b6e9-a94cffd1d9bf |archive-date=December 10, 2022 |url-access=subscription|last=Moules|first=Jonathan|date=2020-05-10|website=www.ft.com|language=en-GB|access-date=2020-05-14}}</ref> | |||
The Wharton School has over 100 active student clubs.<ref>{{cite web |url=http://www.wharton.upenn.edu/mba/student-experience/clubs.cfm |title=Clubs | The Wharton MBA Program |website=Wharton.upenn.edu |date=March 17, 2012 |accessdate=March 3, 2016}}</ref> Wharton students also organize 19 business conferences each year. | |||
== |
== Notable people == | ||
=== Alumni === | |||
{{Main|List of Wharton School alumni}} | {{Main|List of Wharton School alumni}} | ||
] include ]/]/] CEO ], U.S. president ], investor ] and financier ]. Other alumni include the current and former ] of ] at ], ], ], ], ], ], ], ], ], and other companies. | |||
=== Faculty === | |||
The Wharton alumni network currently has more than 92,000 members in 80 regional clubs worldwide.<ref>{{cite web |url=http://www.wharton.upenn.edu/mba/your-career/alumni-network.cfm |title=Alumni Network | The Wharton MBA Program |publisher=Wharton.upenn.edu |accessdate=October 4, 2012}}</ref> In addition to the annual Wharton reunion held on campus, Wharton partners with its alumni clubs to organize multiple Global Alumni Forums each year. | |||
{{Main|List of Wharton School faculty}} | |||
== See also == | == See also == | ||
* ] | |||
* ] | |||
* ] | * ] | ||
* ] | * ] | ||
* ] | * ] | ||
* ] | |||
* ] | |||
== Notes == | == Notes == | ||
Line 184: | Line 179: | ||
== External links == | == External links == | ||
* |
* {{Official website|https://www.wharton.upenn.edu/}} | ||
* | |||
* | |||
{{Penn}} | {{Penn}} | ||
{{authority control}} | |||
] | ] | ||
] | ] | ||
] | ] | ||
] | |||
] | ] | ||
] | |||
] | ] | ||
] |
Latest revision as of 03:39, 2 January 2025
Business school at the University of Pennsylvania, in Philadelphia
Other name | The Wharton School of Business, The Wharton School, Wharton |
---|---|
Former names | Wharton School of Finance and Economy (1881–1902) Wharton School of Finance and Commerce (1902–1972) |
Motto | Knowledge for action |
Type | Private business school |
Established | 1881; 144 years ago (1881) |
Founder | Joseph Wharton |
Parent institution | University of Pennsylvania |
Endowment | $21 billion (2023, parent) |
Dean | Erika H. James |
Academic staff | 486 (2018) |
Students | 5,063 (2018) |
Undergraduates | 2,617 (2018) |
Postgraduates | 1,784 MBA (2018) 463 EMBA (2018) 199 PhD (2018) |
Location | Philadelphia, Pennsylvania, U.S. 39°57′12″N 75°11′53″W / 39.953232°N 75.197993°W / 39.953232; -75.197993 |
Website | wharton.upenn.edu |
The Wharton School (/ˈhwɔːrtən/ WHOR-tən) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. Established in 1881 through a donation from Joseph Wharton, a co-founder of Bethlehem Steel, the Wharton School is the world's oldest collegiate business school, and one of six Ivy League Business Schools.
The Wharton School awards undergraduate and graduate degrees with a school-specific economics major and concentrations in over 18 disciplines in Wharton's academic departments. The undergraduate degree is a general business degree focused on core business skills. At the graduate level, the Master of Business Administration program can be pursued by itself or along with dual studies leading to a joint degree from its law, engineering, and government schools.
In addition to its tracks in accounting, finance, operations, statistics, and other academic departments, the doctoral and post-doctoral programs co-sponsor several diploma programs in conjunction with other schools within the university.
History
Founding
Joseph Wharton, a native Philadelphian, was a leader in industrial metallurgy who built his fortune through the American Nickel Company and Bethlehem Steel Corporation. As Wharton's business grew, he recognized that business knowledge in the United States was only taught through an apprenticeship system, and such a system was not viable for creating a wider economy during the Second Industrial Revolution.
After two years of planning, Wharton in 1881 founded the Wharton School of Finance and Economy through a $100,000 initial pledge, making it the first business school established in the United States. ESCP Europe, established in 1819, and a few other business schools were established in Europe prior to Wharton's founding The school was meant to train future leaders to conduct corporations and public organizations in a rapidly evolving industrial era. Wharton was quoted as saying that the school was meant to "instill a sense of the coming strife : of the immense swings upward or downward that await the competent or the incompetent soldier in this modern strife."
From the founding of the school, he defined that its goal was "to provide for young men special means of training and of correct instruction in the knowledge and in the arts of modern Finance and Economy, both public and private, in order that, being well informed and free from delusions upon these important subjects, they may either serve the community skillfully as well as faithfully in offices of trust, or, remaining in private life, may prudently manage their own affairs and aid in maintaining sound financial morality: in short, to establish means for imparting a liberal education in all matters concerning Finance and Economy." The school was renamed the Wharton School of Finance and Commerce, in 1902, and formally changed its name to simply Wharton School in 1972.
Development
Early on, the Wharton School faculty was tightly connected to an influential group of businessmen, bankers, and lawyers that made up the larger Philadelphia School of Political Economy. The faculty incorporated social sciences into the Wharton curriculum, as the field of business was still under development. Albert S. Bolles, a lawyer, served as Wharton's first professor, and the school's Industrial Research Unit was established in 1921.
Wharton professor Simon Kuznets, who later won the Nobel Prize in Economics, created statistical data on national output, prices, investment, and capital stock and measured seasonability, cycles, and secular trends of these phenomena. His work laid out what became the standard procedure for measuring the gross national product and the gross domestic product, and he later led an international effort to establish the same statistical information for all national economies. Professor Lawrence Klein, who also won the Nobel Prize in Economics, developed the first econometric model of the U.S. economy, which combined economic theory with mathematics, providing another way to test theories and predict future economic trends.
Wharton professor George W. Taylor is credited with founding the academic field of study known as industrial relations. He served in several capacities in the federal government, most notably as a mediator and arbitrator. During his career, Taylor settled more than 2,000 strikes. In 1967, he helped draft the New York State civil service law that legalized collective bargaining in the state but that also banned strikes by public employees—legislation widely known today as the Taylor Law.
Wharton professor Wroe Alderson (1898–1964) is widely recognized as the most important marketing theorist of the twentieth century and the "father of modern marketing." Wharton professor Paul Green is considered to be the "father of conjoint analysis" for his discovery of the statistical tool for quantification of market research.
Wharton professor Solomon S. Huebner is known widely as "the father of insurance education." He originated the concept of "human life value," which became a standard method of calculating insurance value and need. He established the goal of professionalism in the field of insurance, developed the first collegiate-level program in insurance and chaired the Department of Insurance at Wharton, and contributed greatly to the progress of adult education in this area. Wharton professor Daniel M. McGill was widely regarded as the "dean of the pension industry," whose research contributed to shaping the modern retirement system both in the public and corporate sectors.
In 1946, after ENIAC was created at the University of Pennsylvania, Wharton created the first multidisciplinary programs in technology management with the School of Engineering and Applied Science. Wharton faculty began to work closely with AT&T, Merrill Lynch, MasterCard, Prudential Insurance, and the New York Stock Exchange in analyzing the strategic and commercial implications of information systems.
The Wharton School's first business professor was an attorney, Albert Bolles. At the time, there were no other business schools, and no business professors could be recruited elsewhere. Bolles, a lawyer by education and training, and business journalist by career seemed to be the best option for Joseph Wharton. Bolles started his career as a lawyer in Connecticut in the second half of the 19th century. After resigning from his law firm, he started pursuing a new career in business journalism and was promoted to the editor role of Bankers Magazine, a trade publication, in 1880. Upon joining the Wharton School, he began teaching business with classes on the law of governing finance and on the processes of commercial banking. Bolles' instruction in finance was influenced by his previous experience in Bankers Magazine: he stressed conservative business practices, drawing on business history as much as he could. In his classes, inflationist Congressmen were "self-interested debtors." Besides teaching, Bolles advocated for several national reforms, including the uniform banking law. Wharton historian Steven A. Sass wrote about him, "Bolles thus fulfilled Joseph Wharton's pedagogic expectations and…got the new school off to a respectable start by the spring of 1883." In 1884, the first five business students were awarded a Bachelor of Finance degree. One graduate, Shiro Shiba, returned to Japan where he would become a member of the Diet, the Japanese parliament, and another, Robert Adams Jr., later was named United States Ambassador to Brazil.
Classes in business and finance abounded at the Wharton School, but it lacked in any other areas of business interest. Edmund J. James, with a doctorate from the University of Halle in Germany, reinvigorated the school's curriculum, starting classes on political finance and administration. Later in 1885, James argued for redesigning the course of study at Wharton with elements of German higher education. He wanted to include training in banking, railroading, merchandising, manufacturing, and other similar branches, and expand the course's length to four years from the initial three. Joseph Wharton in November 1893 pledged an additional $75,000 to the school in order to implement James' ideas in the school's curriculum. A more comprehensive study plan was then rolled out. Between 1895 and 1915, James started teaching at Wharton the new fields of finance and management as they were developing in the business world. The Wharton School improved its reputation from a bunch of academic "misfits," and some of its alumni rose in the U.S. business world. During this period, the school continued to attract additional faculty members and expand its research programs.
Wharton began awarding MBA degrees in 1921. The first woman to earn an MBA at Wharton was Alma K. Ledig, in 1931. In 1942, during World War II, in the same fashion of other schools, Wharton's full-time faculty dropped dramatically from 165 to 39 by 1944. According to school historians, members of the faculty were called upon for special posts. In 1959, Wharton adopted the curriculum that is now taught in most major business schools: the program was changed with liberal arts education doubling to almost half of the curriculum. In 1974 the social sciences department, along with the rest of the university's liberal arts programs, was moved to the newly created University of Pennsylvania School of Arts and Sciences. Since then, Wharton faculty have focused exclusively on various aspects of business education.
Official historical names of the institution include the Wharton School of Finance and Economy, from 1881 to 1901, and the Wharton School of Finance and Commerce, from 1902 to 1971.
The Jay H. Baker Retailing Center at Wharton was permanently endowed by alumnus Jay H. Baker in 2010. It is an interdisciplinary industry research center which was originally established in 2002. The center brings together retail leaders, faculty, and students to discuss the opportunities and challenges of retailers. The Baker Retailing Center also hosts an annual CEO Summit in New York City.
On February 26, 2020, Erika H. James was named dean of the Wharton School, effective July 1, 2020. She is both the first woman and the first African-American to lead the business school.
Campus
Philadelphia campus
The Philadelphia campus of the Wharton School has four primary buildings, Jon M. Huntsman Hall, Steinberg Hall-Dietrich Hall, Vance Hall, and Lauder-Fischer Hall. In addition, the Steinberg Conference Center houses the Aresty Institute of Executive Education.
Jon M. Huntsman Hall is the Wharton School's main building. The building is a 324,000-square-foot structure with 48 seminar and lecture halls, 57 group study rooms, and several auditoriums and conference rooms. It was constructed through a donation from Wharton alumnus Jon M. Huntsman. It also has a 4,000-square-foot forum, as well as a colloquium space on the top floor.
Steinberg Hall-Dietrich Hall is a joint 180,000-square-foot structure comprising two adjacent halls. It was built in 1952 and expanded in 1983 through a donation from Wharton alumnus Saul Steinberg, and houses the offices of several academic departments at the Wharton School. It also contains lecture halls, conference rooms and common areas for faculty and students.
Vance Hall is a 107,000-square-foot structure built in 1972 to house Wharton's graduate programs, administrative offices, lecture halls, and meeting areas.
Lauder-Fischer Hall houses the Joseph H. Lauder Institute for Management and International Studies, and focuses mainly on international business teaching and research initiatives. The Lauder Institute was founded in 1983 by Wharton alumni Leonard Lauder and Ronald Lauder.
In 2014, the Wharton School launched the Student Life Space in Philadelphia's central business district. It is a 20,000-square-foot space with conference rooms, meeting rooms and over 20 group study rooms. It also serves as an incubator space for startup companies.
In 2018, it was announced that a new 70,000-square-foot campus building for student entrepreneurship would be constructed, following a $25 million donation from the hedge fund manager and philanthropist Nicolai Tangen. The building will be located at 40th and Sansom Streets, and is set to be completed by 2020.
San Francisco campus
In 2001, Wharton launched a satellite campus in San Francisco, California. The Bay Area campus was created to capitalize on the growing start-up culture and related financing sector of Silicon Valley. It serves as a hub on the West Coast for its students and alumni. As of 2012, the campus is open to executive MBA students and to full-time MBA students, who can decide to spend the spring semester of first year, or fall or spring semesters of second year of the MBA program in San Francisco in the Semester in San Francisco Program. For the full-time MBAs, the Semester in San Francisco Program focuses on entrepreneurship, technology, and venture capital.
Undergraduate program
Admissions process
Prospective Wharton candidates apply in their senior year of high school either through the early decision (ED) process or regular decision (RD) process. Unlike many other undergraduate business programs where students transfer in after their freshman or second year (University of Virginia's McIntire, Emory's Goizueta), Wharton applicants apply specifically for Wharton during their senior year of high school. These candidates are then grouped with a pool of applicants separate from those applying to the University of Pennsylvania's College of Arts and Sciences (CAS), School of Engineering and Applied Science (SEAS), or School of Nursing. Each of the other three schools also forms its own separate pool of applicants.
The legacy status of applicants, defined as having a parent or another direct relative who attended the same academic institution, may be considered in the admissions process. This correlation has been observed in a number of empirical studies conducted on the nation's most elite schools, with a particular focus on Ivy League universities. Leading universities in the United States cite stronger alumni connections and continued support as the primary reasons for this practice.
Graduation and employment
Wharton undergraduate students are required to graduate with a B.S. in economics with at least 1 of 21 current concentrations. Concentrations range from finance and accounting to lesser-known studies such as business analytics and Social Impact & Responsibility. Obtaining a concentration requires a student to take four classes outside of what is required in the core curriculum. Policy has recently changed such that Wharton students can graduate with a maximum of 2 concentrations rather than 3. In the 2015–16 school year, 334 employers participated in the on-campus recruiting process; each student received an average of 7.6 first-round interviews and 1.8 job offers. About 48% of Wharton's typical undergraduate class of 650 students go into financial services, with the top sectors being investment banking, investment management, and private equity. The next most common industry after finance is management consulting, which hires approximately 22% of the students, while a significant number of students enter marketing, sales, and the technology industry, particularly in Silicon Valley.
For the Class of 2020, Wharton undergraduate students reported a median first-year base compensation of $86,217.
Graduate programs
MBA program
The school offers two paths, an MBA for full-time students and an MBA for executives. Students can elect to pursue double majors or individualized majors. During their first year, all students pursue a required core curriculum that covers traditional management disciplines—finance, marketing, statistics, and strategy—as well as the leadership, ethics, and communication skills needed at senior levels of management. Students pick electives in the second year.
Wharton MBA students may pursue a dual degree with the Lauder Institute, Johns Hopkins University's Paul H. Nitze School of Advanced International Studies (SAIS), Harvard Kennedy School at Harvard University, or with one of the graduate schools at the University of Pennsylvania.
MBA students from the Class of 2021 earn an average first-year salary and guaranteed compensation of $155,000. Additionally, the class reported a median sign-on bonus of $30,000 and a median guaranteed bonus of $28,204. The MBA program annually receives around 7,300 applications for the 850 places in the class.
Wharton co-sponsored the Executive Master's in Technology Management Program (EMTM) with the University of Pennsylvania School of Engineering and Applied Science. Graduates received a Master of Science in engineering (MSE) in the management of technology from the School of Engineering and Applied Science. The EMTM program ended in August 2014.
Wharton is also part of the Wharton-INSEAD Alliance. MBA students from each program can spend one period of study at the partner school, allowing Wharton students access to the INSEAD campuses in both Fontainebleau and Singapore. Students who are interested in careers in technology industries also regularly study at Wharton's San Francisco campus.
Doctoral programs
Wharton offers doctor of philosophy degrees in finance, applied economics, management, and other business fields (as opposed to some schools, which grant DBAs). It takes approximately four to six years to complete the doctoral program. Wharton also offers a dual master's degree in statistics and data science for students enrolled in other doctoral programs at the university.
Students who are interested in careers in technology industries also regularly study at Wharton's San Francisco campus.
Executive Education
Business School International Rankings | |
---|---|
U.S. MBA Ranking | |
QS (2025) | 2 |
Financial Times (2024) | 1 |
LinkedIn (2023) | 4 |
Bloomberg (2024) | 8 |
U.S. News & World Report (2024) | 1 |
Global MBA Ranking | |
QS (2025) | 2 |
Financial Times (2024) | 1 |
The Wharton School also operates the Aresty Institute of Executive Education, commonly known as "Wharton Executive Education", a center for continuing business education for senior executives. The institute is named in honor of civic leader, business owner, philanthropist, and Wharton alumnus Julian Aresty and his brother Joseph Aresty, who together endowed the Aresty Institute for Executive Education in 1987.
Wharton Executive Education offers programs for executives in areas such as finance, marketing, strategy, and innovation. Each year, more than 10,000 professionals worldwide attend Wharton Executive Education programs in classes taught by full-time Wharton faculty.
Wharton offers more than 50 open enrollment programs for individuals on campuses in Philadelphia, San Francisco, and Beijing, China. Wharton also overs three long-duration open-enrollment programs that confer alumni status upon successful completion. These programs are the Advanced Finance Program, Advanced Management Program, and the General Management Program. Some programs eligible for alumni status, Wharton Programs for Working Professionals (WPWP), for example, are not offered anymore. However, graduates of these programs are still qualified for "Alumni, Non-Degreed" status by Penn.
In addition to a large portfolio of open-enrollment programs for individuals, Wharton Executive Education also offers customized programs for organizations. Custom program topic areas include Finance and Value Creation, Leadership Development, Marketing and Sales, and Strategy and Innovation. Industry areas of expertise include Consumer Products, Retail, Energy, Transportation, Financial Services, Health Care, Pharmaceuticals, Manufacturing and Industrials, Professional Services, Technology and Communications.
Wharton Online
Through its online division, Wharton offers massive open online courses on Coursera with specializations in business and financial modeling, business analytics, entrepreneurship, FinTech and business foundations. Wharton Online also offers a Leadership and Management Certificate and a Business Analytics Certificate. The division is accredited by the International Association for Continuing Education and Training (IACET); it was the first online business school to be accredited by this organization.
The COVID-19 pandemic meant a rapid shift towards online teaching, transforming some of the classroom courses into online courses. For years there has been a strong investment in online education, so the school has been able to adapt well to the new circumstances, according to the Financial Times analysis on the adaptation of business schools to COVID-19.
Notable people
Alumni
Main article: List of Wharton School alumniWharton School alumni include Tesla/SpaceX/Twitter CEO Elon Musk, U.S. president Donald Trump, investor Warren Buffett and financier Marc Rowan. Other alumni include the current and former CEOs of Fortune 500 at Alphabet Inc., Boeing, Comcast, General Electric, H-E-B, Johnson & Johnson, Oracle, Pfizer, PepsiCo, and other companies.
Faculty
Main article: List of Wharton School facultySee also
- List of Ivy League business schools
- List of United States business school rankings
- List of business schools in the United States
- Outline of organizational theory
Notes
- 241 standing faculty members plus 243 non-standing faculty members
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Further reading
- Nicole Ridgway, The Running of the Bulls: Inside the Cutthroat Race from Wharton to Wall Street, Gotham, 2005.
- Steven A. Sass, Pragmatic Imagination: A History of the Wharton School, University of Pennsylvania Press, 1983.
- Emory Richard Johnson, The Wharton School: Its Fifty Years, University of Pennsylvania Press, 1931.