Practicing Finance and Accounting at CMU
Carnegie Mellon University appears in our ranking of the 25 Great Master of Financial Engineering Programs.
Housed in Posner Hall since August 2000, the David A. Tepper School of Business confers a BS in Business Administration for 475 Carnegie Mellon University undergrads in 10 concentrations, including Accounting and Finance. Directed by Dr. Jennifer Wegner, the 364-unit, four-year sequence builds fundamental skills with Pittsburgh courses like Multivariate Analysis and Economic Regulation at a 13:1 student-professor ratio.
Placed #1 by QS World University Rankings, the Full-Time MBA runs 21 months from September to May with tracks for Accounting and Finance. Overseen by Dr. Robert Dammon, the Part-Time MBA blends 32 months of live online evening courses with Access Weekend trips six times yearly. Linked to 1,400 alumni, the 24-month MS in Computational Finance advised by Dr. Javier Pena advances quantitative data methods for Goldman Sachs, FactSet, JPMorgan, KeyCorp, and others.
The Ph.D. in Business also recruits serious-minded Accounting or Financial Economics students for 48 months of seminars like Convex Polyhedra, twice-weekly Afternoon Tea, qualifying exams, and dissertation research.
About Carnegie Mellon University
Carnegie Mellon University originated in 1900 when steel industry magnate Andrew Carnegie donated $1 million to erect Carnegie Technical School for two-year trade certificates. In 1912, it became the Carnegie Institute of Technology by adding bachelor’s majors and the Margaret Morrison Carnegie College for Women. The next Fall, bankers Andrew and Richard B. Mellon started the Mellon Institute of Industrial Research at Pitt. Independent since 1927, the Mellon Institute acquired its iconic Oakland building on Fifth Avenue in 1938. William Larimer Mellon began the Graduate School of Industrial Administration in 1949 for $6 million. Meanwhile, Carnegie Tech received the first IBM computer in 1956. Eleven years later, the two separate entities merged into Carnegie Mellon University. On March 19, 2003, Appaloosa Management’s founder, David Tepper, donated $55 million to create today’s School of Business. CMU now employs 1,391 faculty teaching 13,961 Tartans, including Accounting and Finance majors, from 109 nations with 250+ campus organizations like Smart Woman Securities (SWS).
The U.S. News & World Report ranked Carnegie Mellon the 25th best national university, seventh most innovative school, 17th top business college, and second best online MBA program. On Niche, CMU boasts America’s 28th best academics, 32nd top faculty, 35th best accounting classes, and 38th hardest admission. Times Higher Education placed Carnegie Mellon University 24th globally. Forbes deemed CMU the 26th top research institution and 167th best value. PayScale recorded the 34th highest 20-year ROI of $705,000 for Carnegie Mellon University graduates. Bloomberg BusinessWeek named CMU the 12th best management school. Financial Times positioned the Full-Time MBA 19th nationally. The Princeton Review recognized Carnegie Mellon for the 10th best career placement. WalletHub crowned CMU the country’s seventh-best campus experience and 36th most selective university. Poets & Quants also proclaimed Tepper’s Online MBA fourth.
Carnegie Mellon University Accreditation Details
In March 2018, Carnegie Mellon University met all eight characteristics of excellence required by the Middle States Commission on Higher Education (MSCHE) during the self-study evaluation to renew Level VI accreditation through 2028 under its 10th president, Dr. Farnam Jahanian, who was an Ernst & Young Entrepreneur of the Year finalist. Located 302 miles east via Interstate 76 in Philadelphia, this significant six-state Northeast accreditor is authorized by the U.S. Secretary of Education to ensure the academic strength of CMU’s 77 baccalaureate, 135 master’s, and 82 doctoral offerings. Particularly, the Tepper School extended its elite five-year accreditation from the Association to Advance Collegiate Schools of Business (AACSB) on April 1, 2015.
Carnegie Mellon University Application Requirements
Admission to Carnegie Mellon University is classified “most selective” by Peterson’s because just 4,550 of the 20,497 Fall 2017 applicants were victorious for 22 percent acceptance. First-year Tartans seeking the BS in Business Administration must exhibit educational astuteness during college-prep secondary curricula. Home-schooled students need an academic portfolio and GED certificate. Most Tepper School entrants rank in the top 10 percent of their class with a median 3.88 GPA. On average, freshmen present a 725 SAT Reading, 780 SAT Math, 34 ACT English, and 33 ACT Math score. Competitive transfers have culminated one to two years of accredited college courses with minimum 3.0 GPAs. English language learners qualify with 102 TOEFL iBT, 7.5 IELTS, and better marks. The MBA in Finance attracts four-year bachelor’s grads with an average 5.6 years of experience and 3.3 GPA. Submitting GMAT scores of 640 to 800 is expected. The MS in Computational Finance also considers a mean 169 GRE Quantitative and 159 GRE Verbal score.
Carnegie Mellon University set freshman deadlines of November 1st for Early Decision and January 1st for Regular Decision. Qualified high school juniors applying for Early Admission have until January 1st. Tepper School transfers are considered until October 15th for Spring and February 15th for Fall. The MBA has four candidacy rounds of October 3rd, January 5th, March 7th, and April 18th yearly. MS in Computational Finance cohorts apply until March 10th. Doctor of Philosophy entrants also must meet the January 15th cutoff. Accordingly, submit the CMU Application or Common Application online for $75. Send sealed transcripts to 5000 Forbes Avenue in Pittsburgh, PA 15213. Supplemental items include the 90-second intro video, standardized test score, three evaluation forms, current résumé, and short answer essays. Please inquire further at (412) 268-1018 or admission@andrew.cmu.edu.
Tuition and Financial Aid
For 2018-19, Carnegie Mellon University is billing full-time B.S. in Business Administration majors $27,122 per semester or $54,244 annually. Undergrads pay comprehensive fees of $1,221 each year. Unless waived, health insurance costs $2,340. Living at the Pittsburgh campus’ dorms like Hamerschlag House adds $14,418 for standard room and board. CMU budgets $2,400 for books and personal supplies plus $680 for travel. Annual bachelor’s attendance is roughly $72,283 on-site and $61,419 at home. The Full-Time MBA charges flat-rate tuition of $33,000 each semester. The Part-Time MBA Online costs $640 per unit or $16,500 by term. MS in Computational Finance cohorts spend $42,169 in Pittsburgh and $43,132 in New York City each semester. Tepper School Ph.D. candidates spend allot $56,285.
According to the NCES College Navigator, the Office of Financial Aid in Warner Hall gets 52 percent of full-time CMU Tartans knitting up median assistance of $31,238 for $102.53 million overall. Business funds include the Angel G. Jordan Fellowship, James R. Swartz Leadership Scholarship, Marc & Sally Onetto Graduate Fellowship, Mary Anne Spellman & Jack McGrath Scholarship, Jean-Jacques Servan-Schreiber Fellowship, Murat Ozyegin Fellowship, Reaching Out Fellowship, and Forté Foundation Fellowship. The Consortium for Graduate Study in Management gifts full MBA tuition awards worth up to $132,000 for minorities. The Yellow Ribbon Program fills maximum gaps of $15,000 after Post-9/11 GI Bill veterans benefits. Teach for America or AmeriCorps volunteers receive $10,000 discounts automatically. Submitting FAFSA forms coded 003242 determines Federal Pell or FSEOG Grant eligibility for B.S. in Business Administration majors. The CMUWorks Service Center pays campus employees bi-weekly. Ph.D. in Accounting and Financial Economics candidates can earn 20-hour graduate assistantships. Pennsylvanians also apply for the PHEAA Grant, GEAR UP Scholarship, Chafee Grant, and Postsecondary Educational Gratuity Program.
Find more about Carnegie Mellon University at the David A. Tepper School of Business website.
