Our faculty, administration and staff have dedicated countless hours in the past two years to the AACSB - The Association to Advance Collegiate Schools of Business' reaccreditation process. Our efforts were rewarded: The review team's assessment was strong - perhaps the strongest in the history of our school. At the successful conclusion of this process, I would like to take this opportunity to provide an update on the considerable progress the Frank G. Zarb School of Business has made in the midst of these preparations. Importantly, the reputation of our business school continues to improve as the strength of our programs and graduates are officially recognized by the major college rating services. Increased visibility of the Zarb School has been further enhanced by the many high-profile speakers that continue to visit our campus every semester. These events inject a sense of vibrancy in our school, as our faculty and students are engaged by business leaders, government officials and leading academics.
We continue to be well ranked. In October, U.S. News & World Report released their rankings of the Best Undergraduate Business Programs, which is based solely on a survey of deans and senior faculty of AACSB-accredited schools. I am delighted to report that out of the more than 550 schools that share this fine credential, the Zarb School was ranked #121. In August, BusinessWeek released the results of a new study which ranks the earning potential of midcareer professionals based on their undergraduate alma mater. Hofstra University was cited in The Colleges with the Biggest Returns listing, ranking 48 out of the top 52, which includes such institutions as University of Pennsylvania, New York University, Villanova University, Boston College, and Fordham University. Additionally, our graduate program is included with other prestigious institutions in The Princeton Review's 2009 edition of the Best Business Schools, a ranking compiled from surveys of 19,000 students from AACSB-accredited M.B.A. programs. We are making every effort to be recognized as one of the nation's highly-rated business schools. Our student profile was significantly enhanced by the quality of students in our new day M.B.A. program which commenced this semester. This 32-student cohort, representing seven different countries, boasts average GPAs of 3.2 and GMAT scores of 620. (Read Zarb New Full-Time M.B.A. Program Off to an Impressive Start for further details.)
In August, our reputation was further solidified when The Global Association of Risk Professionals (GARP) established a chapter at Hofstra University. GARP, the leading professional association dedicated to the advancement of the risk profession, has only eight college chapters. For a review of this, as well as other achievements, read Accomplishments of Our Students and Faculty.
The caliber of events taking place on the Hofstra campus is indeed impressive. In September, as a prelude to the final presidential debate, the Zarb School hosted a panel on Economic Issues Facing the Presidency, featuring former Treasury Secretaries Paul O'Neill and Robert Rubin. The day before the debate, a group of students, faculty, administrators and trustees joined Hofstra President Stuart Rabinowitz as he rang the opening bell at NASDAQ. In November, the Zarb School hosted a Socratic panel on crisis management. A group of high-profile professionals were assembled to play the roles of a corporation's top executives, reacting onstage to a simulated crisis. Also in November the Zarb School, through its Merrill Lynch Center for the Study of International Financial Service and Markets, presented a conference on Causes and Effects of the Recent Financial Bailout featuring, among others, Lewis Ranieri, the father of mortgage-backed securities, and Richard Ketchum, C.E.O. of New York Stock Exchange Regulation. (Read Highlights from Recent Events.)
We are already reaping the benefits of our newly reorganized Zarb School Alumni Association, a group that now represents all Zarb undergraduate and graduate alumni. Under the direction of Ed Watson (M.B.A. '89), networking and fund raising opportunities have significantly increased. In fact, the momentum of our fund-raising efforts recently accelerated when Ed made a very generous gift to the Zarb School. Ed shares his thoughts in Zarb Alumni Support Their Alma Mater. Stacey Goldyn-Moller, the recently-appointed director of alumni relations, reports on the progress that has been made organizing alumni groups and networking receptions across the country. (Read: Zarb School Alumni Association.)
Finally, the Zarb School is deeply saddened by the passing of Robert Brockway, a devoted alumnus, trustee, professor and friend. Please take a moment to read our special tribute to Bob.
Thank you for your continued interest in the Zarb School.