University of Chicago Booth School of Business Programs

The University of Chicago, also known as UChicago, U of C, Chicago, or UChi, is a private university located in Chicago, Illinois. Its main campus is located in the Hyde Park neighborhood of Chicago. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S.

The university comprises an undergraduate college and five graduate research divisions, which house all the graduate programs and interdisciplinary committees of the university. Chicago has eight professional schools, of which one is the Booth School of Business.

Programs: Chicago Booth Business School’s programs include full-time, part-time, executive MBA programs and doctorate programs in business. Apart from that, also offered by the school are Civic Scholars programs, Joint-Degree programs, Early Career MBA programs, and pathways for undergraduates to MBA.

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Campus: There are more than 70 student-guided groups, clubs, and organizations on both campuses of Chicago Booth School. Students at the Booth can apply to live in one of 1,300 units in 28 buildings at housing prices ranging up to $3,800 per month. The Booth School has two campuses: the Charles M. Harper Center in Hyde Park, which houses the school’s full-time MBA and PhD programs, and the Gleacher Center. In Chicago’s downtown, part-time Evening and Weekend MBA Programs, Executive Education courses, and Chicago-based Executive MBA Programs are conducted. It also set up one campus in London, and another in Hong Kong.

Cost of Attendance: The average yearly tuition fee of the school is $99,892. Apart from this, foreign applicants need to be prepared to spend an average of $41,014.

Financial Aid: Booth provides merit-based scholarships depending on educational achievements, performance at the interview, career goals, competitiveness, and life experiences. One of those scholarships is Jane M. Klausman Women in Business Scholarship, which is offered to women who pursue degrees in the business areas.

Placement: The school has witnessed a 4% hike in placement trends in the period of nine years, ranging between 2013 and 2021. In 2021, 97.7% got job offers in three months, which was a considerable increase.

Business Rankings of Chicago Booth School

US News and World Report, 2022, the school was ranked #1 in Executive MBA and #3 in Best Business Schools.

Highlights

Institution Type	Private
Foundation Year	1898
Student population	26,000
The student to faculty ratio	6:1
Application cost	$175
Accreditation	Association to Advance Collegiate Schools of Business (AACSB)
English Language Proficiency Tests	TOEFL, IELTS, PTE
Average Cost of Attendance	$110,328

Business Campus of Chicago Booth School

The Booth School of Business campus is located at Charles M. Harper Center, the business school’s global headquarters. This houses the faculty, administrative and program facilities, and research centers, besides classrooms, cafés, art studios, student lounges, study and workspaces, lockers, winter garden, summer garden, and more.

Students can access campus shuttle service free to and from two of Chicago’s airports, Midway and O’Hare. They get discounts at hotels in Chicago, access student events on weekends, connecting to faculty, the administrative office, Career Services, and academic advisors.

There are more than 70 student-guided groups, clubs, and organizations on both campuses of the Chicago Booth. The London campus of Booth is close to St. Paul’s and offers interactive courses and events, the Executive MBA Program and Executive Education course, and the London Conference Center. Offered in the Hong Kong campus in Yuen are the Executive MBA Program and Executive Education non-degree courses for native professionals.

Accommodations at the Chicago Booth School of Business

No campus-housing services are offered to the students at the school. But they can find several off-campus accommodations in the ‘Loop’, in River East apartments and apartments surrounding Lincoln Park, in addition to many hotels around campus. Foreign students can find convenient accommodations in these apartments which cater to students from different cultures and countries.

The Loop is also home to several large-scale mixed-use developments with facilities like grocery stores and schools, apart from luxury condominium buildings of Chicago scattered amid high rises that house offices where people work, live, and relax. This area is home to many restaurants in the district. Prices of housing range from $1,400 to $3,800 per month depending on the accommodation type.

Programs Offered at the Chicago Booth School of Business

Four types of MBA are offered at the Chicago Booth School of Business. They are the full-time MBA, Evening MBA, Weekend MBA, and Global Executive MBA with the intent to cater to the specialized goals and requirements of students.

The full-time MBA, a 21-months program, is for professionals who have three to seven years of work experience. The program has an interdisciplinary attitude to business education with basic courses such as accounting, economics, psychology, statistics, and sociology.

The two part-time MBA programs have been conceived for professionals who work full-time. They are Weekend MBA and Evening MBA. But both the programs have the same syllabus as the full-time MBA program. Full-time MBA students are allowed to pursue 3 to 4 courses each quarter in addition to one vital course in LEAD, a proactive practical, leadership assessment and development program.

LEAD is an integral part of all of Booth Business School’s MBA programs. But the program format may differ for full-time MBA, Evening and Weekend MBA, and Executive MBA.

All students of full-time MBA, Evening, and Weekend MBA are allowed to tune their MBA programs by enrolling in courses and their preferred specializations. The school offers specializations in 13 study areas, including MBA in economics, finance, entrepreneurship, general management, international business, marketing management, and business analytics. The school’s Executive MBA program is offered to experienced professionals who have work experience of six to 20 years. The course is 21-month long.

Application Process for Chicago Booth School of Business

Applicants who apply for admission to Booth School need to have a university or college degree, which is equivalent to a four-year US baccalaureate degree. They also need to submit test results of English proficiency such as GMAT, GRE, or Executive Assessment (EA) Scores.

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Application Portal: Online Application Portal

Application Fee: $175 for a part-time program

Supporting Documents:

• Educational transcripts and/or undergraduate certificate
• Proof of proficiency in the English language
• Letters of Recommendation (LORs)
• Résumé
• Essay
• Statement of Purpose (SOP) for MBA

Cost of Attendance at Chicago Booth School of Business

The expected cost of studying at Booth Business School for three quarters or nine months is as follows –

Type of Expense	Cost (USD)
Average Tuition Fee	99,892
Books & Supplies	2,380
Room & Boarding	23,040
Graduate Student Services Fee	1,728
Personal	4,200
Travel	3,540
Estimated Loan Fees	1,560
Health Insurance (if needed)	4,566
Total Living Expenses & Fees	1,40,906

Scholarships at Chicago Booth School of Business

Full-time MBA students can receive various types of financial aid such as industry awards, leadership awards, merit-based scholarships, global innovator fellowships, external awards, etc. Students of Evening MBA and Weekend MBA can avail of a restricted number of merit-based scholarships. Students do not need any application for merit-based awards as decisions to award them are purely based on their MBA applications. The award amounts differ and beneficiaries are informed two to three weeks after they get the admission offer.

Students from the London campus are allowed to borrow from autonomous financial institutions such as Lendwise and Prodigy Finance. While students studying at the Hong Kong campus are allowed only to borrow from Prodigy Finance and other lenders. Besides these, Indian students can borrow loans from Allahabad Bank, Credila, HDFC, Bank of Baroda, and Syndicate Bank. Apart from that, they can avail of many regional scholarships and fellowships that foreign students are entitled to, like,

• Ramakrishnan Family Scholarship and A H Tobaccowala Fellowship for Indian students,
• The Ehara Scholarship for Japanese students,
• The Nelson Germanos Fellowship for Brazilian students,
• Ramakrishnan Family Scholarship for Indian students.

The following scholarships are also available to international MBA students:

Name of Scholarship	Amount	Eligible students
Aga Khan Foundation International Scholarship Program	50% grant & 50% loan	Students belonging to developing countries
Jane M. Klausman Women in Business Scholarship	$8,000	Female students
Jhunjhunwala Family Executive MBA Scholarship	$50,500	First-generation female students belonging to Indonesia, India, Singapore

Alumni of Chicago Booth School of Business

The alumni of Chicago Booth is home to over 10,000 members and is supported by more than 60 alumni clubs globally. About 10,000 alumni of Booth are in C-suite roles worldwide, of which 75% of them ascribe to Chicago Booth a major part of their successful careers.

Chicago Booth School of Business Placements

According to the Chicago Booth School of Business’s employment report, about 93% of students obtained full-time job offers three months after completion of their graduation. Around 87% of foreign students got job offers by the time they graduated. Furthermore, about 27% of international graduates received job offers with a median salary of $150,000.

Given below is the salary by the degree of graduates of Booth Business School –

Degree	Salary in USD
MBA	170,000
Masters in M40anagement	230,000
Executive MBA	190,000
Masters in Finance	240,000
LLM	265,000
Doctorate	160,000

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The Chicago Booth’s Career Services team organizes employer-facing activities and programs like campus interviewing, campus recruiting activities, resume referral services, online job postings, and industry treks. In addition, students were given offers like career learning programs and career research resources.

University of Chicago Booth School of Business is famous for ‘The Chicago Approach’ which includes a logical, lasting style of business education. This approach is said to aid the creme-de-la-crème of students to transform their concepts and skills into activities and make a significant impact in the world. At Booth, students are in the midst of a helpful, inspiring community that is keen to help them attain success in their domains. Booth students are constantly challenged, encouraging them to exchange ideas, take risks, and welcome diverse perspectives so that they eventually become future leaders of the world.