Transformative Gift Elevates Chicago Booth's New Master in Finance Program

The University of Chicago Booth School of Business has announced a transformative $60 million gift from Clifford Asness and John Liew, founders of the global investment management firm AQR. This gift will name the school's new Master in Finance program, which launched this fall, as the Asness and Liew Master in Finance Program.

Empowering the Next Generation of Finance Leaders

Booth's Longstanding Reputation in Finance Education

Chicago Booth has long been considered a leader in finance education, with a strong track record of placing its MBA graduates in the field. In the Class of 2023, 32.6% of Booth's MBA students entered the finance industry, a figure that has remained consistently high over the years. These graduates have gone on to secure high-paying positions at top firms, with some earning base salaries exceeding $247,500 in specialized areas like private equity.

Introducing the Asness and Liew Master in Finance Program

The new Asness and Liew Master in Finance Program is designed to provide recent college graduates with a competitive advantage in the finance industry. The 15-month program offers a curriculum rooted in advanced quantitative methods, as well as opportunities to explore emerging technologies and trends that are disrupting the financial sector, such as artificial intelligence, machine learning, and blockchain technology. Additionally, the program provides students with career exploration and advising resources, including an exclusive Leaders in Finance Speaker Series.

Transformative Impact of the Gift

The $60 million gift from Asness and Liew will have a transformative impact on the Asness and Liew Master in Finance Program. According to Booth Dean Madhav Rajan, the investment will enable the school to "successfully carry out its mission to influence and educate this promising new group of leaders." The gift will provide broad support for faculty, students, and other areas of the program, ensuring that talented college graduates can quickly reach the frontiers of modern finance.

The Donors' Perspective

Clifford Asness and John Liew, both of whom earned their MBAs and PhDs from the University of Chicago, have a deep appreciation for the impact that their time at Booth had on their professional and intellectual success. Asness reflects, "When I think about the difficulties of professional and intellectual success, I think 'there but for the grace of Chicago go I!' Everyone needs some luck in life, and my great luck was being there when I was." Liew adds, "It's hard to overstate the impact that our time at Booth had on us professionally. We literally built our careers and our business around what we learned. This really is the least we can do."

A Transformative Opportunity for Aspiring Finance Professionals

The Asness and Liew Master in Finance Program represents a transformative opportunity for recent college graduates seeking to launch their careers in the finance industry. With its focus on advanced quantitative methods, emerging technologies, and comprehensive career support, the program is poised to produce a new generation of finance leaders who are equipped to navigate the rapidly evolving landscape of the financial sector.