PROPOSAL
ROBERTSON SCHOLARS PROGRAM
CREATING A BETTER WORLD, ONE STUDENT AT A TIME.
A
Robertson Scholars Program
lready among the Top 10, the University of Michigan’s Ross School of Business aspires to be one of the Top Five MBA Programs in the nation. According to Michigan Ross Dean Scott DeRue, two key areas of investment will enable Michigan Ross to achieve this important goal: • •
Offer scholarships to recruit the best and brightest MBA students to Ross; Offer unique, cohort-based programming to further challenge and connect these exceptional scholars during their time on campus.
To be more specific, Dean DeRue aims to establish a program that is designed to give aspiring business leaders the challenging, interdisciplinary educational experience they need to be Leaders & Best. The proposed Robertson Scholars Program at Michigan Ross would contain the following key components:
FULL-RIDE SCHOLARSHIP
team up for co-curricular activities, and otherwise interact Full tuition scholarships will be given to the applicants with as a distinct community at Ross, giving them ongoing the top GMAT scores. Because the Robertson Scholars access to a valuable support network at Ross. Program will cover 100 percent of tuition, participants can put potential money concerns aside and focus fully on their ALUMNI MENTORING studies and extracurricular activities at Ross. Historically, A unique benefit from the Robertson Scholars Program for both Michigan Ross and other top MBA programs with will be a formalized mentoring program, through which which we compete for talent, the more scholarship funding MBA candidates receive valuable advice, guidance, and that schools award to incoming MBA students, the more feedback from chosen Ross alumni who are working in an selective those schools can be in who they admit. Simply area of interest to the student. put, scholarships are THE most important financial tool for recruiting Leaders & Best to our community. If we want top CAREER SERVICES caliber students, we need to invest in MBA scholarships at Browse the Ross alumni database, and you’ll find thousands of successful business leaders working in multiple businessthe same rate as other top schools. related fields. Many of these alumni make valuable internships available at their companies and also recruit COHORT EXPERIENCE Each year, a select number of students will be accepted regularly at the school. This gives Robertson Scholars to the Robertson Scholars Program. This group of MBA unparalleled access to career guidance and opportunities. candidates will work together on interdisciplinary projects,
ADDITIONAL BENEFITS OF INVESTING IN MBA STUDENTS HIGHER GMAT SCORES
GMAT scores are one metric that prospective students and companies use to judge the “quality” of talent at the school. In addition, our data show that the more we invest in MBA student support, the higher the GMAT scores for incoming MBA students become. For example, from FY2016 to FY2017, Michigan Ross increased scholarship spending by $1.2 million. In this year, our average GMAT score increased from 708 to 716. All top schools are now above 720, so we need to accelerate this upward trajectory.
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IMPROVED RANKINGS
The best and brightest students want to attend a highly ranked, highly competitive school. In fact, in last year’s survey of candidates who declined offers from Michigan Ross, 458 indicated that they chose to attend a higher ranked school instead. Of 215 women who declined offers from Ross, 72% accepted offers from a higherranked school.
CONTINUUM OF ENGAGEMENT
The most exceptional MBA students want to be significantly challenged during their time on campus— and to remain engaged with their MBA peers in a meaningful way after they graduate. An investment in Ross MBA “cohort” programming would enable this type of ongoing activity and, in the long run, help to generate even more giving to the MBA Program from its engaged alumni base. As you can see, top business schools are competing for the brightest MBA applicants, and schools that are able to to recruit the best and brightest MBA students from all offer the best scholarships and most valuable, outcomes- walks of life,” Dean DeRue says. “And by establishing the based experiences typically land these individuals. Robertson Scholars Program, we will be able to sustain these investments in people excellence indefinitely.” “MBA scholarships are the most promising way to boost the school’s standing and reputation, since they allow us
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FUNDING OPPORTUNITIES
y supporting MBA students and their scholarly programming, you will ensure deserving students can receive a best-in-class business education, which, for many, will be a life-changing moment that establishes a new and positive trajectory in their life. In addition, you will help Michigan Ross elevate its brand and reputation, which will benefit our 50,000+ alumni across the globe and further the legacy of our great school.
•
•
Full Tuition Scholarships $67,000 annually per student. Establish full, merit-based tuition scholarships for MBA applicants with the highest GMAT scores, to assure that Michigan Ross remains competitive with well-funded peer institutions in attracting top applicants. Student programming and cohort activities: $15,000 annually per student. During their time at Michigan Ross, the Robertson Scholars will have access to unique career and professional development programs, networking opportunities, and alumni community events. These opportunities will not only help students achieve success during the program, but also increase their engagement as an alum (increasing the likelihood they contribute to the future success of the school).
The Robertson Scholars Program will initially consist of a set number of students per class, with four distinct cohorts (total length of time will be five academic years). Michigan Ross is proposing an expendable gift payable over five years to cover the implementation costs of the first five years of the program, and an endowed planned gift in an amount that will distribute the necessary funds in perpetuity. (Please see addendum sheet for possible funding scenerios.) With the Robertson Scholars Program, Ross will have greater capacity to attract and compete for the best students. In return, we will improve the overall profile of our incoming student population and as a result, attract more and better companies to recruit our students for the most attractive jobs in business. All of this combined will prompt higher MBA program rankings and, hence, inspire the most exceptional students to apply to Michigan Ross. And so, the positive cycle continues—with success fostering greater success.
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Invest in MBA Leaders & Best at Michigan Ross.
Robertson Scholars Program - Possible Funding Scenarios The Robertson Scholars Program will initially consist of a set number of students per class, with four distinct cohorts (total length of time will be five academic years). This page provides breakdowns of high-level program costs and different potential funding scenarios with increasing numbers of students per class. We are requesting an expendable gift payable over five years to cover the implementation costs of the first five years of the program, and an endowed planned gift in an amount that will distribute the necessary funds in perpetuity. SCENARIO ONE: 15 Students/Class Annual Cost of Cohort Tuition/Student Experience/Student
Year 1
$67,000
$15,000
Year 2
$67,000
$15,000
Year 3
$67,000
$15,000
Year 4
$67,000
$15,000
Year 5
$67,000
$15,000
# of Students/Year
Total # of Students
15 MBA1 15 MBA2 15 MBA1 15 MBA2 15 MBA1 15 MBA2 15 MBA1 15 MBA2
15
$1,230,000
30
$2,460,000
30
$2,460,000
30
$2,460,000
15
Total Commitment
Total Cost
$1,230,000 $9,840,000 Expendable over 5 yrs $49,200,000 Endowed planned gift $59,040,000
SCENARIO TWO: 20 Students/Class Annual Cost of Cohort Tuition/Student Experience/Student
Year 1
$67,000
$15,000
Year 2
$67,000
$15,000
Year 3
$67,000
$15,000
Year 4
$67,000
$15,000
Year 5
$67,000
$15,000
# of Students/Year
Total # of Students
20 MBA1 20 MBA2 20 MBA1 20 MBA2 20 MBA1 20 MBA2 20 MBA1 20 MBA2
20
$1,640,000
40
$3,280,000
40
$3,280,000
40
$3,280,000
20
Total Commitment
Total Cost
$1,640,000 $13,120,000 Expendable over 5 yrs $65,600,000 Endowed planned gift $78,720,000
SCENARIO THREE: 25 Students/Class Annual Cost of Cohort Tuition/Student Experience/Student
Year 1
$67,000
$15,000
Year 2
$67,000
$15,000
Year 3
$67,000
$15,000
Year 4
$67,000
$15,000
Year 5
$67,000
$15,000
# of Students/Year
Total # of Students
25 MBA1 25 MBA2 25 MBA1 25 MBA2 25 MBA1 25 MBA2 25 MBA1 25 MBA2
25
$2,050,000
50
$4,100,000
50
$4,100,000
50
$4,100,000
25
Total Commitment
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Total Cost
$2,050,000 $16,400,000 Expendable over 5 yrs $82,000,000 Endowed planned gift $98,400,000