![]() ![]() ESCP Europe, established in 1819, and a few other business schools were established in Europe prior to Wharton's founding The school was meant to train future leaders to conduct corporations and public organizations in a rapidly evolving industrial era. After two years of planning, Wharton in 1881 founded the Wharton School of Finance and Economy through a $100,000 initial pledge, making it the first business school established in the United States. As Wharton's business grew, he recognized that business knowledge in the United States was only taught through an apprenticeship system, and such a system was not viable for creating a wider economy during the Second Industrial Revolution. Joseph Wharton, a native Philadelphian, was a leader in industrial metallurgy who built his fortune through the American Nickel Company and Bethlehem Steel Corporation. Joseph Wharton, the school's founder and namesake Similarly, in addition to its tracks in accounting, finance, operations, statistics, and other academic departments, the doctoral and post-doctoral programs co-sponsors several diploma programs in conjunction with other schools within the university. At the graduate level, the Master of Business Administration (MBA) program can be pursued standalone or along with dual studies leading to a joint degree from other schools (e.g., law, engineering, government). The degree is a general business degree focused on core business skills. The Wharton School awards the Bachelor of Science with a school-specific economics major, with concentrations in over 18 disciplines in Wharton's academic departments. It is consistently ranked among the top business schools in the world, and it is the world's oldest collegiate business school, established in 1881 through a donation from Joseph Wharton. The Wharton School of the University of Pennsylvania ( / ˈ hw ɔːr t ən/ WHOR-tən) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. ![]()
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