The University of Miami School of Business Administration is an academic unit within the University of Miami located in Coral Gables, Florida. It was founded in 1929. It offers undergraduate business, full-time MBA, Executive MBA, MS, Ph.D. and non-degree executive education programs. It is a member of the Graduate Management Admission Council.
History
The UM School of Business was founded in 1929 under President Bowman Foster Ashe in the midst of the "Great Crash." Classes were initially held in the unfinished Anastasia Hotel, near the 160 acres (0.65 km2) that would later become the University of Miami campus. Ashe lured national recognized economist John Thom Holdsworth of Pittsburgh to teach economics and to later serve as the School's dean. In the 1940s the School expanded its undergraduate offerings to include majors in accounting, commerce, finance and political science and the School grew to almost 2,000 students. The School started its full-time MBA program in 1948 and was accredited by the Association to Advance Collegiate Schools of Business (AACSB) in 1957.
In 1973, the school established one of the first Executive MBA programs. In 1979, the school added a health care specialization to its Executive MBA offerings with what is now the Executive MBA in Health Sector Management and Policy program. In the late 1970s, the School gained a permanent facility with the completion of the George W. Jenkins Building and the Elsa and William H. Stubblefield Memorial Classroom Building.
From 1992-2007, Paul K. Sugrue served as Dean.
In August 2007, Barbara E. Kahn became dean after serving as a professor and administrator at the Wharton School.
Miami Business School Ranking Video
Faculty
The Financial Times now rates the School's faculty among the top 35 business school faculties in the U.S. and among the top 40 faculties in the world. Media citations about the School and its faculty increased by more than 100 percent from 2008 to 2009 and have included top media such as The Wall Street Journal, The New York Times, BusinessWeek, The Financial Times, Forbes, The Economist, CNN, Fox Business Network and PBS's Nightly Business Report, for which the School's faculty now provide a regular commentary segment.
Undergraduate program
The undergraduate program leads to degrees of Bachelor of Business Administration (BBA) and Bachelor of Science in Business Administration (BSBA). These programs are fully accredited by the Association to Advance Collegiate Schools of Business, International (AACSB - International). The Bermont/Carlin Scholars program is a competitive scholarship program for third year finance students that includes a trip to New York City to meet with executives in the investment banking industry. The Canes Behavioral Laboratory allows undergraduate marketing students to use behavioral research software to participate in marketing research in a controlled environment.
Executive MBA program
The Executive MBA program allows students to work toward a degree over 23 months on a part-time basis. Students attend classes on the Coral Gables campus that are taught by the same faculty that teach the full-time MBA program. The Executive MBA program begins each January with all day Saturday courses. The average age of its students is 37, and students have an average of 11 years of work experience. The average class size is 30. In addition to the general Executive MBA program, the UM offers an Executive MBA in Health Sector Management and Policy program and a joint Executive MBA/MS in Industrial Engineering program, both are also taught on the main campus. The school also teaches Executive MBA programs in Palm Beach, Florida and in Puerto Rico.
Over the past year, the School has also expanded its global footprint with the launch of an Executive MBA program in Puerto Rico and with the establishment of partnerships with seven leading business schools in Argentina, Brazil, China, Peru, and Spain.
Health care programs
The University of Miami Executive MBA Program in Health Sector Management and Policy has dual accreditation by AACSB International - The Association to Advance Collegiate Schools of Business and Commission on the Accreditation of Healthcare Management Education (CAHME). This Executive MBA program requires students to attend classes on three days of a weekend each month for 23 months. Physicians graduating from the Executive MBA in Health Sector Management and Policy program qualify to receive 25 American Medical Association PRA Category 1 Credits.
The business school and the UM School of Medicine offer a joint MD/MBA degree program to prepare future physicians for the business aspects of managing a medical practice, as well as prepare medical students for careers in health sector management, leadership and policy. Students must first be accepted into the MD program and then apply for admission to the joint program. Students in the joint program add a year of business courses in between the third and fourth years of the normal four-year MD program.
Joint JD/MBA program
Under UM's joint JD/MBA program, students earn a JD and an MBA degree in 3-1/2 to 4 years. Students meet all the requirements of the JD and MBA programs, but receive as many as 12 credits by taking classes that count toward both degrees. Students seeking to graduate in 3.5 years typically enroll in the summer session of the law school.
Student body
As of the Fall 2009, the school has 1,962 undergraduate and 513 graduate students. There were 166 full-time MBA students, 266 Executive MBA students and 23 PhD candidates. The students entering in the fall of 2008 were 72% male and 28% female. Twenty five percent were international students. Entering students had an average age of 26 with 2.5 years of work experience, an average GMAT of 636 and an average undergraduate GPA of 3.2.
Rankings
The University of Miami's School of Business Administration is broadly recognized as one of the top business programs in the U.S. BusinessWeek ranks it at the 54th best undergraduate business programs in the nation. BusinessWeek also ranks UM's full-time MBA program as being in its top third tier (with 45 schools in the first two tiers.) In 2007, The Wall Street Journal, ranked the School of Business Administration as the 16th best business school in the nation.
The Executive MBA program at the University of Miami School of Business Administration, in 2008, was ranked 33rd among all such programs in North and South America and 76th among all Executive MBA programs worldwide. The research ranking of the UM School of Business Administration, which is a measure of the caliber of its faculty, is ranked 31st among all programs worldwide.
The Financial Times ranks the University of Miami MBA program as 98th in MBA programs worldwide.
Outreach
The school has partnered with the Young Presidents' Organization of Miami (YPO) to have CEOs of local companies mentor UM students and have the school provide executive education to YPO members. YPO members will also coach teams in the school's annual business plan competition. Representatives of the school have travelled internationally seeking to establish collaborations with foreign business schools.
Notable alumni
- Ralph Alvarez, president and COO of McDonald's.
- Mercedes Aráoz, Finance Minister of Peru.
- Micky Arison, CEO of Carnival Corporation and owner of the Miami Heat (attended but did not graduate).
- Cenk Aydin, banker and entrepreneur.
- Bakr bin Laden, leader of the bin Laden family and chairman of Saudi Binladin Group.
- Lyor Cohen, vice chairman of Warner Music Group and CEO of Recorded Music, Americas and the U.K.
- John W. Creighton, Jr., president and CEO of Weyerhaeuser.
- Pedro Fabregas, vice president of American Airlines, president & CEO of Envoy Air and former president and CEO of Executive Airlines.
- Michael Johns, health care executive and former White House speechwriter.
- David Komansky, former CEO of Merrill Lynch.
- Bernie Kosar, former NFL quarterback, Cleveland Browns, Dallas Cowboys and Miami Dolphins.
- Porfirio Lobo Sosa, President of Honduras.
- Rohan Marley, owner of Tuff Gong clothing line and son of late reggae musician Bob Marley.
- Drew Rosenhaus, professional sports agent.
- Matthew Rubel, chairman, CEO and president of Payless ShoeSource.
- Martin Zweig, investment advisor and author of Winning on Wall Street.
Notable faculty
- Modesto Maidique (Business Management)
- Neil Wallace (Economics)
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