Everyone knows that there’s a road to Wall Street, but not everyone knows how to get on it. At Rutgers University-New Brunswick, high-achieving students who have their eyes set on the financial industry are connected with alumni who are already in places they dream of being. This is part of their Road to Wall Street program.
The program begins preparing students in their sophomore year for top finance careers. It also gives students access to a valuable but usually difficult-to-penetrate network, where they’ll be able to seek out mentors and grow their industry connections before leaving Rutgers University, leading to possibilities that include interviews, internships, and job offers.
Dean Lei Lei also shared in conversation with P&Q that starting in Spring 2019, business students would have to attend a boot camp designed to meet the demands of a fast-changing world of tech economy. There, students would learn about cybersecurity, Tableau, and data analytics.
Rutgers University is a public research university in New Jersey, with campuses in Newark and New Brunswick. The New Brunswick campus has about 4,500 undergraduates in the four-year business program and about 43,000 students in total on campus. In Fall 2018, the business school received 12,403 applications to join their undergraduate business program, and 5,757 were admitted. The average SAT score of those admitted in Fall 2018 was 1349 on the new scale, and the average ACT score was 29. Of the incoming Fall 2018 class, students had an average high school GPA of 3.71.
The school estimates that the total four-year cost of attending for an in-state student is about $57,180, and $119,206 for an out-of-state student. Additional expenses such as food, supplies, transportation and lodging will add up to about $68,549 for an in-state student, and $71,523 for an out-of-state student. About 35 percent of incoming students in Fall 2018 received some form of scholarship support averaging $12,764.
MANAGEMENT SKILLS COURSE REQUIRED FIRST THING
As soon as a student enters Rutgers at New Brunswick, they are required to take a Management Skills class, which helps them develop their interpersonal skills. Students can choose to major in Accounting, Business Analytics, and Information Technology, Finance, Leadership and Management, Marketing, and Supply Chain Management, but even before joining the school, everyone must go through about 20 hours pre-pre-orientation programming.
The New Brunswick campus is just an hour away by train from New York City, and two hours away from Philadelphia, providing business students with access to tens of Fortune 500 companies, including Verizon Communications, Time Warner, MetLife, Citigroup, McGraw-Hill, Estee Lauder, and JPMorgan Chase & Co.
The city of New Brunswick itself has a population of about 56,000, and the median age according to livability.com is 24, while the median household income is $38,435. The college town ranked third on the website’s list of most affordable cities to live in with a median home price of $240,700.
The business school in New Brunswick is located on the Livingston Campus that is more fondly referred to as “Livi” by students. It includes entertainment including a movie theatre and restaurants alongside 96 student lounges, 20 academic buildings, 13 residence halls, and one library.
One of the unique features of the campus is the Ecological Preserve and Natural Teaching Area, a 315-acre tract of land that includes a mature upland forest, streams and wildlife habitat for animals including foxes, red-tailed hawks, wild turkeys, and woodpeckers.
Before joining the business school, students must take a set of pre-business courses on financial accounting, computer applications for business, micro and macroeconomics, statistics, and calculus. From there, students then need to begin working on their business core classes, which include classes on business law, managerial accounting, management skills, business policy and strategy, management information systems, statistical methods in business, operations management, marketing, and supply chain management. The business core provides students with an introduction to all the functional areas of business, which should help them discover the best career path for them. Students outside the business school can choose to take a minor in business administration or entrepreneurship.
The New Brunswick business school attracts many senior executives to teach on campus, and will soon begin offering students a new undergraduate course in marketing analytics, in line with the burgeoning demand for graduates with experience in data and analytics.
The school will also be offering a special topic course led by former president and co-chief operating officer of Goldman Sachs, Harvey Schwartz, who will join the faculty and share insights on major financial market changes such as the 2008 market crash.
In Fall 2016, the school began requiring supply chain management majors to complete at least one experiential course for credit, where students can choose between an internship and a co-op, or to take the Supply Chain Management (SCM) Industry Client Project course. The Department of Supply Chain Management runs two exclusive Supply Chain Career Expos each year to facilitate recruiting of supply chain students for interested companies and organizations.
Students who choose the Internship in Supply chain will work part-time for one semester in a private, public, or nonprofit organization while applying supply chain concepts to the work environment. Those who choose the Co-Op in Supply Chain will work full-time for two semesters in a private, public, or nonprofit organizations and apply their classroom knowledge to their work. Students can receive credit for their Co-op experiences.
And in the SCM Industry Client Projects, students work in teams of four to six on projects submitted by the Rutgers Center for Supply Chain Management Advisory Board companies and other corporate partners. The experience will culminate in a presentation and report at a client location to management executives and the work will be evaluated by the client company.
Since Fall 2016, the school shared that the majority of students have opted to work on client projects.
RBS TEAM RECENTLY WON HULT PRIZE FOR SOCIAL ENTREPRENEURSHIP
Outside the classroom, Rutgers students in New Brunswick have access to a number of extracurricular activities to supplement their in-class knowledge. On top of tutorials and personal lessons on resume writing, interviewing skills, business attire, business etiquette, LinkedIn, presentation skills, and soft skills, students can choose from 24 business-specific student organizations to add to their portfolios. And in addition, students also have access to over 400 other student groups on campus.
The Entrepreneurship and Innovation LLC on the Livingston Campus is a place where first-year students can live with peers in the same dorm on campus, extending their time together so they can pursue their passions for entrepreneurship together.
A team representing Rutgers recently won the $1 million Hult Prize for social entrepreneurship in September 2017 with a pitch on a rickshaw transportation business that could improve the lives of refugees overseas. Also known as the Student Nobel Prize, the team of five beat 50,000 other participants from over 100 countries with their idea, with former president Bill Clinton announcing their win.
The business school also as a blockchain club that is a year old but has already recruiter over 500 students who are interested in cryptocurrency and Rutgers Consulting allows students to work on their learning and development, client service, and postgraduate opportunities. The team not only works with industry players to host workshops on topics including Power Modeling, and Case Interview Prep but also partners with the Small Business Initiative for students to work with the local business community by providing consulting services. And every Fall, the group connects students with career opportunities by setting up events that engage top-tier consulting firms.
The school’s Women BUILD (Business Undergraduates in Leadership Development) mentoring program helps instill confidence in young women at Rutgers by connecting them with working professionals, encouraging them to network and gain work experiences in their first year. In the second year, students attend leadership roundtables and engage in a project that utilizes their business knowledge and experience, as well as provide peer mentoring to sophomores in the group while helping to plan a conference or summit on Women’s Business Leadership. Participation in the third year of the program is a by invitation only as students serve as ambassadors and represent the team at conferences and corporate events. By participating in events, students can earn a point, and those who complete all components of the program earn the Women BUILD Certificate in Women’s Business Leadership.
THREE-QUARTERS OF ALUMS SAID THE DEGREE WAS WORTH THE COST OF TUITION
Alumni from the Class of 2016 shared with P&Q in a survey that they had found jobs with companies including Bulgari Corporation of America, Evonik Industries, Deloitte, Toyota Motor North America, KPMG, FTI Consulting, Internal Revenue Service, PricewaterhouseCoopers, DuPont USA, and Barclays.
Almost 80 percent of alumni shared that they would recommend the business program at Rutgers New Brunswick to a friend or colleague, and about 60 percent said they felt the program had prepared them well for the world of work.
Seventy-five percent of alumni from the Class of 2016 said that they felt their degree was worth its cost in tuition and almost 90 percent of students said their first job after graduating was in their desired job function.
The school reported that about 75 percent of students in the classes of 2017 and 2018 found full-time employment within a few months of graduation, with the average salary drawn for graduates of both years were about $60,000. Students from both years also received similar signing bonuses in the amount of about $8,000.
Of the 26 percent of alumni from the Class of 2016 who reported having “signature experiences while at Rutgers New Brunswick, students shared having been part of advertising projects, business case studies, and various competitions.
“We believe our new initiatives will prepare students well for success and the career world as it changes,” Lei said.
What Alumni Say:
“I was enrolled in a hybrid course that allowed us to work with local businesses to develop their marketing strategy. It gave us the opportunity to take what we learned and actually apply it. Before that point, much of what we learned was only theoretical, which is only helpful if we operated in a vacuum.” – Recent Alumni
“The professors were very good and the program was pretty structured. My favorites classes were investment banking and advanced corporate finance with Professor Ben Sopranzetti. I thought he was a fantastic professor. He had a hands-on style of teaching. He was able to take things out of a textbook and show how they were applied in real life. He was a great mentor, always helping students set up interviews for jobs.” – Recent Alumni
“I wrote a thesis on a small business and ways it could improve.” – Recent Alumni