Last week, the website Poets & Quants named Edward “Ted” Snyder of Yale School of Management as the 2015 Dean of the Year, an honor only four other business school deans have received. When Synder took the helm in July 2011, expectations were sky-high given his previous deanships at the Chicago Booth School of Business and UV Darden School of Business.
“Just four and one-half years into the job at SOM, Snyder has not merely met those high expectations. He has clearly surpassed them,” writes editor-in-chief John A Byrne. “On virtually every single metric of quality—from application volume and average class GMAT scores to MBA rankings and starting compensation for graduates—Yale SOM can boast major improvements.”
During his tenure, Snyder has expanded the SOM’s mission of educating leaders for business and society by further connecting with Yale’s other professional schools, opening ultra modern new facilities, and by greatly expanding its international footprint through the Global Network for Advanced Management. The Global Network, founded by Snyder in 2012, currently has 28 member schools from all over the world.
These improvements have certainly caught the attention of prospective MBA candidates. Poets & Quants notes that Yale SOM saw a 24.8% increase in applications last year, and the school has reported a 29% rise in Round 1 applicants this year.
“The biggest increases, however, have come from countries where a global network business school is located,” Byrne writes. “In global network countries, for example, GMAT volume is up 14.6%, but SOM’s applications from those nations are up a whopping 51.6%.”
The SOM’s higher profile and quality of the applicant pool has led to a marked increase in compensation figures as well, with Class of 2015 graduates receiving a median first-year compensation of $146,480, a 9.1% increase over the previous year’s graduates. ““We are closing the gap with the best best schools on employment,” Snyder tells Poets & Quants.
Byrne concurs, noting that “At that level of pay, SOM is in an MBA sweet spot occupied by Columbia ($146,645), Wharton ($146,303), and Dartmouth Tuck ($146,020).”
There’s little question Yale School of Management will offer Snyder a second five-year term when his first is up in July. As the dean says, “We’re building on the work of many before us and are energized by the school’s mission.”