The Ph.D. program at Chicago Booth has received $100 million.
On Monday, May 1, Chicago Booth stated that businessman and philanthropist Ross Stevens, Ph.D. '96, had given the school's Ph.D. program $100 million to help push the boundaries of academic business research. The program will be called the Stevens Doctoral Program to honor Stevens. This blog post will summarize the most important points, according to a recent Poets&Quants article.
It will help provide competitive stipends for graduates
Stevens is the founder and CEO of Stone Ridge Holdings Group, which is based in New York and focuses on alternative asset management, reinsurance, and bitcoin. The $100 million donation is the most money that has ever been given to a Ph.D. program at a business school. It will help provide competitive stipends for graduates, more than four times as much help with research, and more money for qualified new students through Stevens Fellowships.
It will help provide tailored coaching programs
The contribution will help the "complete individual" rather than just academics. Students enrolled in the Stevens Program will have access to tailored coaching programs in fitness, public speaking, and professional development, as well as full-time mental health care.
It will also fund a new alumni mentorship program
Steven's contribution will also fund a new alumni mentorship program, which will link current Ph.D. students with Ph.D. alumni from academia, government, and industry. Cliff Asness, MBA '91, Ph.D. ‘94, Stevens' Booth classmate, mentor, co-author, and first boss, will co-chair the endeavor. "I believe that, over time, the quality of a business school's PhDs determines the quality of its faculty, which, in turn, determines the quality of the school itself," Stevens adds.
The Stevens Doctoral Program will be celebrated on May 12
"Thanks to Ross' extraordinary generosity and bold vision, the Stevens Doctoral Program is poised to accelerate and broaden the impact of its scholars now and long into the future," said Booth Dean Madhav Rajan. The contribution from Ross Stevens, as well as the designation of the Stevens Doctoral Program, will be commemorated on May 12 during Chicago Booth's Ph.D. Centennial celebration.
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