Babson College

Babson College
Former names
 Babson Institute
(1919–1969)
Type Private
Established September 3, 1919
Endowment $391.5 million (2017)[1]
President Kerry M. Healey
Provost Michael D. Johnson
Dean Ian Lapp (undergraduate)
William Lamb (graduate)
Academic staff
 306 full-time
Students 3,113
Undergraduates 2,283
Postgraduates 830
Location Wellesley, Massachusetts, United States
Coordinates: 42°17′53.63″N 71°15′40.29″W / 42.2982306°N 71.2611917°W / 42.2982306; -71.2611917
Campus Suburban
350 acres (1.4 km2)
Colors Green and white[2]
         
Athletics NCAA Division III
Nickname Beavers
Sports 22 varsity sports
Mascot Biz E. Beaver
Website www.babson.edu

Babson College is a private business school in Wellesley, Massachusetts, established in 1919. Its central focus is on entrepreneurship education, and it is often ranked the most prestigious entrepreneurship college in the United States.[3][4][5][6]

It was founded by Roger W. Babson as an all-male business institute. Now co-ed, Babson College offers bachelor's degrees in business administration and undergraduate students have the opportunity to declare concentrations in more than twenty seven areas of study. Through Babson's F. W. Olin Graduate School of Business, the college also offers master's degrees in business administration, finance, accounting, entrepreneurial leadership and management. Often referred to as the "Entrepreneur's College", Babson is renowned for immersing its students in the entrepreneurial lifestyle and culture. Babson is also notable for its Foundations of Management and Entrepreneurship course, in which every enrolled first-year student starts, runs and dissolves a company. Babson currently offers undergraduates nearly sixty entrepreneurship-related courses. These courses are taught in tandem with various traditional liberal arts courses, which represent over 60% of the typical student's schedule. Every entrepreneurship course at Babson is taught by professors who have either started, sold, bought, or run successful businesses.[7] Babson is considered very selective and currently has an undergraduate acceptance rate of 24%.[8]

Babson College has consistently appeared on the U.S. News & World Report rankings as the number one college in entrepreneurship education for nearly three decades. In 2014, CNN's Money Magazine named Babson the number one college in the country for value and in 2015 the magazine ranked it second.[9] The Economist ranked Babson second on its 2015 list of best colleges and universities in outperforming earnings expectations.[10] Babson's MBA program has also been ranked number one in entrepreneurship for over twenty years by U.S. News & World Report.

History

20th century

The Babson Institute

On September 3, 1919, with an enrollment of twenty-seven students, the Babson Institute held its first classes in the former home of Roger and Grace Babson on Abbott Road in Wellesley Hills. Roger Babson, the founder of the school, set out to distinguish the Babson Institute from colleges offering mainly instruction in business. The Institute provided intensive training in the fundamentals of production, finance and distribution in just one academic year, rather than four. The curriculum was divided into four subject areas: practical economics, financial management, business psychology and personal efficiency (which covered topics such as ethics, personal hygiene and interpersonal relationships). The program's pace assumed that students would learn arts and sciences content elsewhere.

Babson favored a combination of class work and actual business training. Seasoned businessmen made up the majority of the faculty. To better prepare students for the realities of the business world, the Institute's curriculum focused more on practical experience and less on lectures. Students worked on group projects and class presentations, observed manufacturing processes during field trips to area factories and businesses, met with managers and executives, and viewed industrial films on Saturday mornings.

The institute also maintained a business environment as part of the students' everyday life. The students, required to wear professional attire, kept regular business hours (8:30 a.m. to 5:00 p.m., Monday through Friday and 8:30 a.m. to noon on Saturday) and were monitored by punching in and out on a time clock. They were also assigned an office desk equipped with a telephone, typewriter, adding machine, and Dictaphone. Personal secretaries typed the students' assignments and correspondence in an effort to accurately reflect the business world. Roger Babson aimed to "prepare his students to enter their chosen careers as executives, not anonymous members of the work force."[11]

In 1969, the Babson Institute's three-year bachelor of science in business administration, still for young men only, became a four-year bachelor of science degree, the Institute became a College and women were admitted for the first time.[12]

21st century

Three College Collaboration

Babson is involved in a three college collaboration with Olin College and Wellesley College (a collaboration often referred to as BOW).

Campus

Wellesley Main Campus

The main residential campus of Babson College is 350 acres (1.4 km2) and located in the "Babson Park" section of Wellesley, Massachusetts, just fifteen miles west of Boston.[13] It is adjacent to the Franklin W. Olin College of Engineering. Undergraduate and graduate students have the opportunity to take advantage of campus amenities including the student center, the cafeteria, Horn Library, multiple centers and institutes, the fitness center, the arts center and more. Executive and Enterprise Education visitors have the opportunity to stay in guest rooms adjacent to the meeting center.

The Babson Globe

The 25-ton, 28-foot-diameter (8.5 m) Babson Globe is a notable campus landmark. Built in 1955 by Roger Babson at a cost of $200,000, it originally rotated both on its axis and its base, demonstrating day and night and the progression of the seasons. It was allowed to deteriorate, thus the facing tiles fell off in 1984 and by 1988 it had the appearance of a rusty sphere. The Babson administration announced that it would be destroyed, but outraged students, faculty and alumni began a drive to raise money for its restoration. In 1994 the globe was refurbished, though it no longer rotates. It was for many years the largest rotating globe in the world and remains one of the largest ever built. (For the largest, see Eartha.) Until recently, the globe sat behind Babson's Coleman Hall. However, it is now being refurbished and will be relocated on campus in the following months.[14][15]

Babson Boston

The Babson Boston classroom and event space, located at 100 High Street, gives Babson a presence in downtown Boston and connects the resources of the College with the innovative companies, organizations and leaders in Boston's Financial District. Opened in 2016, this facility provides the opportunity to offer MBA courses in a location convenient to where entrepreneurial students live and work. Over the course of the academic year, there are opportunities at the Boston location for students to engage with Babson offices and resources, including graduate programs, the Graduate Center for Career Development, Graduate Admissions and the College's alumni network. From 2011 to 2016, Babson Boston campus was at 253 Summer Street in Boston's Innovation District.

Babson San Francisco

Babson San Francisco expands Entrepreneurial Thought and Action to the West Coast through Babson's Blended Learning MBA program, an undergraduate semester experience and custom executive education, while connecting Babson students, faculty and alumni to the broader entrepreneurial ecosystem of the Bay Area.

Babson Miami

In July 2017, President Kerry Healey announced Babson's plans to expand to Miami, Florida, where the Blended Learning MBA, Master of Science in Business Analytics (MSBA) and Certificate in Advanced Management (CAM), three graduate programs will be offered starting in the following fall. Babson's new hub in Miami will be located at CIC Miami (Cambridge Innovation Center), a co-working space in the University of Miami Life Science and Technology Park.

Academics

Undergraduate

Babson College offers all undergraduates a bachelor of science degree. Students are also given the option to declare concentrations their junior and senior year from a broad range of subjects in various business and other fields. Programs are accredited by Association to Advance Collegiate Schools of Business (AACSB)[16] and the College itself has been regionally accredited by the New England Association of Schools and Colleges (NEASC) since 1950.[17]

Babson College also offers a study abroad they have created. The program is called "BRIC: The Cornerstone of the New Global Economy" and is offered to Juniors as well as Seniors in the fall semester of the academic year. During the program a number of students, around 26, visit and study in Russia, China and India. In each country, students study a variety of classes covering different topics.

Business school rankings
Worldwide MBA
Business Insider[18] 40
Financial Times[19] 73
U.S. MBA
Bloomberg Businessweek[20] 58
U.S. News & World Report[21] 65
U.S. undergraduate
Bloomberg Businessweek[22] 26

In rankings, Babson was rated first among all colleges and universities in the nation by Money Magazine in 2014.[23] In 2015, the magazine ranked it second just behind Stanford University.[9] Babson's MBA program has been ranked number one in entrepreneurship for twenty-one consecutive years by U.S. News & World Report[24] and is ranked 58th overall in the Bloomberg Businessweek 2014 rankings.[25] Babson's undergraduate business program is ranked 26th overall in the Bloomberg Businessweek 2014 rankings.[26] Babson's undergraduate Entrepreneurship program has been ranked number one for the past 17 years by U.S. News & World Report.[27] In their 2013–2014 salary report, Payscale.com ranked Babson College at number five of all U.S. colleges and universities, ahead of schools such as Stanford, Harvard, Dartmouth, Columbia and Yale. This ranking represents an average mid-career salary of $123,000 and average starting salary of $59,700.[28] In 2012, Bloomberg Businessweek ranked Babson eleventh among U.S. schools based on return on investment. Babson is the highest ranking private business college. The others are either major universities or engineering schools.[29] CNN money ranked Babson fifth in their 2013 "Colleges with the highest-paid grads" rankings, higher than MIT, Stanford and any Ivy League school.[30]

Graduate

Babson College offers master's degrees through its F. W. Olin Graduate School of Business, including a One-Year MBA Program, a Two-Year MBA Program, a 42-month Evening MBA Program and a Blended Learning MBA Program with campuses located in Boston and San Francisco. It also offers a Master's of Science in Entrepreneurial Leadership (MSEL), Accounting (MSA), Finance (MSF) and a Certificate of Advanced Management (CAM) and Advanced Accounting (CAA) programs.[31]

Student life

Class of 2019 statistics
Class size 528
Percentage of women 54
Percentage of multicultural students 30
Percentage of international students 25
Number of countries represented 51
Number of states represented 33
Number of languages spoken 29+
Arthur M. Blank Center
The Babson Globe

In 2013, 2,844 students attended Babson, 2,015 of whom were undergraduates.[32]

Student publications include a literary magazine.[33]

There are several fraternities and sororities on campus: Alpha Epsilon Pi, Chi Omega, Delta Tau Delta, Kappa Kappa Gamma, Sigma Kappa and Sigma Phi Epsilon. There are also two professional business fraternities on campus: Delta Sigma Pi and Alpha Kappa Psi. Babson College Radio was started in 1998.[34]

Babson offers a variety of special interest housing, such as the E-Tower, ONE Tower: Origins of Necessary Equality, GIVE Tower, Healthy Living Tower and Women Giving Back Tower.

Athletics

Babson's teams are known as the "Beavers" and its colors are green and white. The college's team mascot is the dashing "Biz E. Beaver", who many believe was named after Men's soccer player and '98 grad, Bizz Reuther aka Palmer Reuther. The school has 22 varsity sports teams, the majority of which compete in the New England Women's and Men's Athletic Conference (NEWMAC) of the NCAA Division III.[35] One of Babson's flagship sports is soccer with both the men's and [36] women's teams regularly sitting atop their divisions and often in the hunt for conference and national championships. The men's soccer team has established a legacy of success with 3 NCAA National Championships, 27 NCAA tournaments wins and 12 conference championships. The team also turns out an exceptionally high number of all stars when compared to schools of similar size. One of the top soccer players in Babson's history is Hall of Fame midfielder Dan Pucci. The 2-Time All-American was one of only six D3 US players to earn Umbro Senior All-Star status. Today, he remains the program's single-season (15 in 1997) and career assist leader, he is third on the all-time points list. In addition, the men's and women's alpine ski teams compete in the United States Collegiate Ski and Snowboard Association (USCSA)[37] and the men's lacrosse team competes in the Pilgrim League. Babson College's men's hockey team competes in the Eastern College Athletic Conference (ECAC) and has won six ECAC East Championships, appearing in the championship game in 9 of the last 12 seasons as of 2015.[38] Babson College's golf team competes in the New England Collegiate Conference (NECC) and won the title in 2011 giving them an automatic bid to the NCAAs. They were led by senior captain Joe Young who won NECC golfer of the year in 2011.[39] Babson United Rugby Club won Northeast region of NSCRO 7's in 2016. In 2017, the school will begin construction of the Babson Recreation and Athletics Center, a major new facility that will support varsity, intramural and recreational sports and many other activities by the fall of 2019. In March 2017, Babson's basketball team won the Division III National Championship.[40]

Alumni

Business and athletics

Food and entertainment

Government, education, and other

Fashion and fitness

Notes and references

  1. ↑ College, Babson. "Business Financial Services - Offices and Services - Babson College". www.babson.edu. Retrieved January 17, 2018.
  2. ↑ "Logo / Brand Usage - Quick Reference guide OCTOBER 2013" (PDF). Babson College. Retrieved 26 September 2014.
  3. ↑ "Babson College". The Princeton Review. Retrieved 2016-05-13.
  4. ↑ "Babson College: Overall Rankings". Education. U.S. News & World Report. Retrieved 2016-05-13.
  5. ↑ Moore, Mary (2015-07-14). "Babson College tops Harvard and MIT in national ranking on value". Boston Business Journal. The Business Journals. Retrieved 2016-05-13.
  6. ↑ "Babson College: #2 in Money's Best Colleges Report". Money. Time Inc. Retrieved 2016-05-13.
  7. ↑ Staff, The Princeton Review (September 16, 2014). "Top 25 Colleges for Entrepreneurship for 2015 (Undergrad)". Retrieved August 31, 2017.
  8. ↑ "Babson College - The Princeton Review College Rankings & Reviews". www.princetonreview.com. Retrieved August 31, 2017.
  9. 1 2 "MONEY's Best Colleges". best-colleges.time.com. Retrieved 2015-07-14.
  10. ↑ "Where's best?". The Economist. 2015-10-31. Retrieved 2016-05-13.
  11. ↑ "Babson College: History". babson.edu. Archived from the original on December 28, 2010. Retrieved January 20, 2011.
  12. ↑ College, Babson. "Timeline - Babson History". www.babson.edu. Retrieved August 31, 2017.
  13. ↑ "About Babson". babson.edu. June 15, 2006. Archived from the original on December 27, 2010. Retrieved January 20, 2011.
  14. ↑ "Students Try to Save Babson's Rusty Globe," Associated Press, Boston Globe, August 6, 1989 p. 30
  15. ↑ The Babson World Globe Description from Babson's website calls it "capable" of rotating but this refers to the globe as built, not to its current state.
  16. ↑ "AACSB: Accredited institutions". datadirect.aacsb.edu. Retrieved January 20, 2011.
  17. ↑ "NEASC CIHE: Babson College". Retrieved August 31, 2017.
  18. ↑ "The 50 best business schools in the world". Business Insider. 2015. Retrieved 2016-02-06.
  19. ↑ "Global MBA Ranking". Financial Times. 2017. Retrieved 2017-01-31.
  20. ↑ "Best Business Schools 2017". Bloomberg Businessweek. 2018-03-12.
  21. ↑ "2019 Best Business Schools Rankings". U.S. News & World Report. March 20, 2018. Retrieved March 24, 2018.
  22. ↑ "The Complete Ranking: Best Undergraduate Business Schools". Bloomberg Businessweek. 2016. Retrieved 2016-08-09.
  23. ↑ "The Best Colleges for Your Money". Money. 2014.
  24. ↑ "Entrepreneurship – Best Business Schools". U.S. News and World Report. Retrieved March 13, 2012.
  25. ↑ "Full-Time MBA Programs". BloombergBusinessWeek. 2014.
  26. ↑ "Undergraduate Business School Programs=Businessweek". Bloomberg. 2014. Retrieved 21 August 2015.
  27. ↑ "College Ranking Lists > Entrepreneurship Rankings". U.S. News & World Report : Colleges. 2014. Retrieved 21 June 2014.
  28. ↑ "Full List of Schools - PayScale College Salary Report 2013-14". Payscale. 2014. Retrieved 21 June 2014.
  29. ↑ Lavelle, Louis (9 April 2012). "College ROI: What We Found". Businessweek. Retrieved 21 June 2014.
  30. ↑ Christie, Les (September 12, 2013). "Colleges with the highest-paid graduates". CNN.
  31. ↑ "Graduate Business Masters Degrees". Babson College. 2016. Retrieved 28 August 2016.
  32. ↑ "Babson College". U.S. News & World Report : Colleges. 2014. Retrieved 21 June 2014.
  33. ↑ "''Babson Literary Magazine''". babson.edu. June 15, 2006. Retrieved January 20, 2011.
  34. ↑ "www.cybertalk.com". March 1, 1998. Retrieved January 20, 2011.
  35. ↑ "NEWMAC online". NEWMAC online. Archived from the original on February 8, 2011. Retrieved January 20, 2011.
  36. ↑ "Babson". Babson. Retrieved 2017-12-21.
  37. ↑ "HOME". USCSA. Archived from the original on February 1, 2011. Retrieved January 20, 2011.
  38. ↑ "CAC East Championship Preview: No. 10/12 Men's Ice Hockey at No. 1/2 Norwich". Babson Athletics. Retrieved 21 August 2015.
  39. ↑ "Babson Athletics". Babson Athletics. Retrieved December 10, 2011.
  40. ↑ "Babson has huge athletics/recreation facility overhaul on tap - The Swellesley Report - News about Wellesley, Massachusetts". theswellesleyreport.com. Retrieved August 31, 2017.
  41. ↑ "The next millionaires of the Dominican Republic". Forbes Mexico Magazine. June 26, 2014. Retrieved January 19, 2018.
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  43. ↑ "America's Cup 2017: Alinghi owner Ernesto Bertarelli backing Team New Zealand". New Zealand Newshub. June 25, 2017. Retrieved January 21, 2018.
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  45. ↑ "Blankm, Arthur – Athlete and Scholar, Foregoes Family Business, Life after the Depot". Referenceforbusiness.com. Retrieved January 20, 2011.
  46. ↑ "Driver Peter Boss Career Statistics". Racing-Reference.Info. Retrieved February 8, 2018.
  47. ↑ "The 'Poor' Bronfmans' Billions". New York Times. November 9, 1986. Retrieved January 18, 2018.
  48. ↑ "Board of Directors Automotive Hall of Fame". automotivehalloffame.org. Retrieved February 6, 2018.
  49. ↑ "Former NFL Player Matt Chatham Opens a New Restaurant". INC Magazine. September 2011. Retrieved February 8, 2018.
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  51. ↑ 2009 Honorees, Arthur M. Blank Center for Entrepreneurship, Babson.edu. Retrieved October 31, 2013
  52. ↑ "Babson College – Robert Davis". .babson.edu. June 15, 2006. Retrieved January 20, 2011.
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  54. ↑ "William D. Green of Accenture Values 3 Rules for Success". The New York Times. November 21, 2009. Retrieved February 12, 2018.
  55. ↑ "Babson College – Members of the Academy". babson.edu. June 15, 2006. Archived from the original on December 29, 2010. Retrieved January 20, 2011.
  56. ↑ "Babson College – Frederic C. Hamilton". babson.edu. June 15, 2006. Retrieved January 20, 2011.
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  63. ↑ "COMPANY NEWS - Baseball Team Is Not Affected". The New York Times. August 5, 1992. Retrieved February 10, 2018.
  64. ↑ "Alumni Directory, now The Babson Connection". fusionmx.babson.edu. Retrieved January 20, 2011.
  65. ↑ "Gunnar Overstrom, Banker, 59, Dies". Hartford Courant. December 9, 2001. Retrieved February 8, 2018.
  66. ↑ New York Times: "Born for Business" by Patricia R. Olsen May 22, 2010
  67. ↑ Pennington, Bill (May 25, 2001). "AUTO RACING; Sharp's Bargain Has Paid Off – New York Times". Nytimes.com. Retrieved January 20, 2011.
  68. ↑ "Babson United Rugby Club". Babsonrugby.org. Archived from the original on July 25, 2011. Retrieved January 20, 2011.
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