Evolution Of The MBA
The Master of Business Administration, better known as the MBA, first appeared in the US at the start of the 20th century. Developing from bookkeeping and accounting courses, the MBA was modeled on the standard
American two-year postgraduate academic program. This model won broad acceptance and spread widely.
- 1881: The Wharton Business School at the University of Pennsylvania is founded as the world's first collegiate business school.
- 1900: Dartmouth College's Tuck School of Business opens the first graduate school of management.
- 1908: Harvard University's Graduate School of Administration offers the world's first MBA program. There were 47 students enrolled at the time.
- 1915: Wendell Thomas Cunningham, the son of a former slave, graduates from Harvard Business School becoming its first known African American alumnus.
- 1921: Shanghai University of Commerce becomes the first business university in China.
- 1943: The University of Chicago Booth School of Business offers the first Executive MBA (EMBA) program.
- 1950: University of Western Ontario in Canada becomes the first school to offer MBA degree programs in Canada.
- 1954: The Admission Test for Graduate Study in Business (ATGSB), precursor to the GMAT, is developed by the Education Testing Service.
- 1957: INSEAD creates and legitimizes the one-year MBA program.
- 1976: The ATGSB is renamed the Graduate Management Admission Test (GMAT).
- 1987: Aspen University online pioneers the first accredited online MBA program.
- 2008: In the US, more than 250.000 students are enrolled in MBA programs and more than 100.000 MBA degrees are conferred annually, comprising at least 66% of all graduate business degrees awarded.
- 2010: The median salary for MBA degree holders is $97.714 (Keys: Experience in years; Average salary): 1) Experience in years - <1, average salary - $50.000; 2) Experience in years - 5+, average salary - $73.000;
3) Experience in years - 20+, average salary - $100.000+.
- 2011: Technological innovations advance online learning UNC Kenan-Flagler launches MBA@UNC.
Top ten employers of MBA grads
- #1 Google.
- #2 McKinsey & Company.
- #3 Bain & Company.
- #4 Goldman Sachs.
- #5 Apple.
- #6 BCG (Boston consulting Group).
- #7 Walt Disney.
- #8 Nike.
- #9 JP Morgan.
- #10 Johnson + Johnson.
Companies founded by MBA grads
- Gilt Groupe.
- INSEAD '90.
- Kevin Ryan.
- Gary Kremen.
- Stanford '89.
- Liz Claiborne.
- Jerome Chazen.
- Columbia '50.
- Joe Coulombe.
- William Porter.
- Capital One.
- Phil Knight.
- Rich Fairbank.
- Eric baker.
Most GMAT tests taken by country
- #1 USA - 50.000+.
- #2 China - 20.000-24.999.
- #3 India - 15.000-19.999.
- #4 Canada - 5.000-9.999.
- #5 Korea - 5.000-9.999.
- #6 UK - 0-4.900.
- #7 Germany - 0-4.900.
- #8 Taiwan - 0-4.900.
- #9 France - 0-4.900.
- #10 Israel - 0-4.900.
UNC Kenan-Flagler Business School | Design by Francesca Greggs & Lemonwood Design | Sources: upenn.edu; dartmouth.edu; hbs.edu; hbsaase.edu; chicagobooth.edu; invey.uwo.edu; gmac.com; fl.com;
poetsandquants.com; theibfr.com; payscale.com; nces.ed.gov; wsj.com; cucas.edu/cn; insead.edu; stanford.edu; businessweek.com; cnn.com.