History of Wharton
Established as the first collegiate business school in 1881, Wharton played a crucial role in transforming the study of business from a trade to a rigorous and respected profession. Here are a few of the milestones we celebrated along the way.
Major Milestones: 1881-Present
1881
The pioneering vision of Joseph Wharton leads to the creation of the world’s first collegiate business school. Wharton’s vision: to prepare graduates with the breadth and depth of knowledge to become “pillars of the State, whether in private or in public life.”
1884
Wharton’s global network begins with the first five graduates, among them Shiro Shiba, who returns to his native Japan for a career in the Japanese parliament, and Robert Adams, Jr., who later becomes U.S. ambassador to Brazil.
1896
Through a Wharton fellowship, W.E.B. Du Bois conducts a pioneering study of the social and economic conditions of Black residents in Philadelphia. Du Bois goes on to cofound the National Association for the Advancement of Colored People (NAACP) in 1909.
1895 – 1915
Wharton faculty help establish and advance new fields of business study, including:
Accounting
Business Law
Finance
Industrial Management
Insurance
Marketing
Transportation
1920
The landmark Transportation Act of 1920 returns U.S. railroads to private operation following federal wartime control while expanding federal regulation. Wharton Professor Emory Johnson, a prominent transportation scholar, played an influential role in transportation policy and research. A prominent figure in transportation studies, Johnson also serves as Wharton dean and special commissioner for the Panama Canal.
1921
The establishment of the world’s first business school research center, the Industrial Research Unit, marks Wharton’s shift to a strong interdisciplinary approach to research and engagement with the business community.
1921
The Wharton MBA program enrolls its first class.
1924
Professor Solomon Huebner advances the field of insurance education, emphasizing the economic and social value of human life in his influential work on life insurance.
1931
Alma Katherine Ledig becomes the first woman to earn a Wharton MBA.
1931
Wharton Professor George Taylor begins a distinguished career in labor relations and dispute resolution, helping to mediate thousands of labor disputes and advising administrations under five U.S. presidents.
1948
Professor Dorothy Swain Thomas becomes Wharton’s first woman faculty member. A pioneering demographer, she conducts influential research on population, migration, and economic change.
1952
Wharton relocates to Dietrich Hall, its first dedicated building.
1953
Wharton establishes the Securities Industry Institute, the first and longest-running custom executive program among business schools.
1954
The first 15 women are admitted to the Wharton undergraduate program.
1955
Professor Howard E. Mitchell becomes Wharton’s first African-American faculty member. As director of Wharton’s Center for Transit Research and Management Development, he helps redesign public transportation systems in Philadelphia and New York City.
1962
Professor Irwin Friend leads a landmark study of mutual funds for the Securities and Exchange Commission, advancing Wharton’s tradition of empirical research in finance and economics.
1970
Wharton launches the first MBA program in Health Care Management, establishing an interdisciplinary approach to the study of health care, management, economics, and policy. Undergraduate and doctoral programs in health care management follow in the mid-1980s.
1971
Wharton’s impact on marketing expands with Professor Paul Green’s introduction of conjoint analysis, an approach that becomes an influential tool for understanding consumer preferences.
1972
Vance Hall opens to house the Graduate Division.
1973
With the creation of the Wharton Entrepreneurial Center, Wharton is the first business school to offer a fully integrated program in entrepreneurial studies.
1975
Wharton launches its MBA Program for Executives, expanding access to a Wharton MBA for experienced professionals. The program offers cohorts in Philadelphia, San Francisco, and a Global hybrid format.
1979
Wharton launches LEAD (Leadership, Education, and Development Program), introducing talented high school students from underrepresented communities to the world of business and leadership.
1980
Professor Lawrence Klein wins the Nobel Prize in Economics for creating econometric forecasting models that help predict global economic trends.
1980
Wharton launches LEAD (Leadership, Education, and Development Program), introducing talented high school students from underrepresented communities to the world of business and leadership. The program has since expanded through partnerships with leading universities across the United States.
1982
Wharton Finance Professor Jean Crockett is appointed the first woman chair of the board of the Federal Reserve Bank of Philadelphia.
1983
The Joseph H. Lauder Institute of Management and International Studies launches the world’s first MBA/MA program in international management.
1983
Dietrich Hall is refurbished and expanded to become Steinberg Hall-Dietrich Hall.
1987
The Aresty Institute for Executive Education moves into the Steinberg Conference Center, strengthening Wharton’s commitment to executive education and leadership development.
1988
Wharton becomes the first business school to establish International Executive Advisory Boards, strengthening its connections with senior business leaders and alumni around the world.
1990
Wharton undertakes a major redesign of its undergraduate and MBA curricula, reshaping how students learn across business disciplines.
1990
Lauder-Fischer Hall is dedicated as the home of the Lauder Institute and the Wharton Real Estate Department and Center.
1992
Wharton launches its leadership program, later named the Anne and John McNulty Leadership Program the Anne and John McNulty Leadership Program, which fosters leadership and teamwork in MBA, executive MBA, and undergraduate students through innovative coursework, experiential learning, cocurricular activities, and executive coaching.
1993
Wharton’s first Global Alumni Forum convenes in Manila, beginning a tradition of bringing the global Wharton community together in locations around the world. The 50th Global Alumni Forum was held in Hong Kong in 2017.
1994
Wharton and the College of Arts & Sciences create the first integrated undergraduate global business program, now the Huntsman Program in International Studies and Business.
1996
Wharton and Penn’s School of Nursing establish the undergraduate joint-degree Program in Nursing and Health Care Management, expanding opportunities for students to combine business and health care education.
1997
Wharton launches Wharton Research Data Services (WRDS), creating a powerful platform for accessing and analyzing financial, economic, and business research data used by researchers and institutions around the world.
1999
Wharton plays a key role in the development of Singapore Management University, including collaboration on its undergraduate curriculum and the establishment of a joint Wharton-SMU Research Center. Wharton’s international collaborations also extend to institutions including Thailand’s Sasin School of Management and the Indian School of Business.
1999
Knowledge at Wharton launches as a web-based publication dedicated to sharing business research, analysis, and insights from Wharton faculty and experts.
1999
The first Wharton Business Plan Competition winners are announced. The annual competition evolves into the Penn Wharton Startup Challenge, providing a platform for students and entrepreneurs to develop and test innovative business ideas.
2001
Wharton expands its West Coast presence with the establishment of its San Francisco campus, which becomes an important hub for the School’s Executive MBA program and engagement with the region’s business and technology communities.
2001
Wharton deepens its global reach through an alliance with INSEAD, expanding opportunities for students and faculty to engage across Europe and Asia.
2001
The Alfred P. West Jr. Learning Lab expands Wharton’s use of technology-enhanced learning tools and digital approaches to management education.
2002
The state-of-the-art Jon M. Huntsman Hall opens with 324,000 square feet, 48 classrooms, 57 group study rooms, lecture halls, auditoriums, and conference rooms to house undergraduate and MBA classes, as well as academic offices.
2003
Wharton creates the first doctoral program in Legal Studies and Business Ethics. The Wharton Doctoral Programs now offer nine fields of study spanning the major disciplines of business research.
2004
Wharton establishes a publishing imprint to bring faculty research and business insights to a broader professional audience.
2005
Wharton and the College of Arts & Sciences announce the creation of a new joint undergraduate program, the Roy and Diana Vagelos Program in Life Sciences and Management.
2010
Wharton introduces Global Modular Courses, offering intensive, for-credit learning experiences that connect students with business environments around the world.
2012
Wharton expands its global reach through online education, launching courses on digital learning platforms and creating new opportunities for learners around the world to engage with Wharton faculty and ideas.
2014
Business Radio Powered by the Wharton School launches on SiriusXM, extending Wharton’s faculty expertise and business analysis to a national radio audience.
2017
Penn Wharton Budget Model launches as a nonpartisan, research-based initiative providing accessible and transparent analysis of the fiscal impact of public policy.
2020
Dr. Erika H. James makes history as both the first woman and the first person of color to serve as dean of the Wharton School.
2021
The Wharton MBA Class of 2023 becomes the first class in the program’s history in which women comprise a majority of the class, marking an important milestone in the School’s ongoing evolution.
2025
Wharton launches its Artificial Intelligence for Business undergraduate concentration and MBA major, integrating technical AI knowledge with business strategy, ethics, governance, and the societal implications of AI.
2025
Wharton launches the Dr. Bruce I. Jacobs Master of Science in Quantitative Finance, its first new degree program in 50 years. Supported by a transformational $60 million gift from Dr. Bruce I. Jacobs, the program expands opportunities for advanced study in quantitative finance, data, artificial intelligence, and financial markets.
Previous Deans of the Wharton School
Wharton has been shaped by its leaders — from Wharton’s first director Edmund J. James in 1883 to current Dean Erika James. To learn more about Dean Erika James, visit About the Dean.
Show List
Geoffrey Garrett, 2014-2020
Over his six years as Wharton’s Dean, Geoffrey Garrett promoted progress and improvement at every level of the School. With a focus on entrepreneurship and innovation, the future of finance, and analytics, Garrett launched numerous initiatives including Analytics at Wharton, Venture Lab, and a dedicated Teaching Excellence effort. Garrett oversaw numerous construction projects including two game-changing buildings on Wharton’s Philadelphia campus with 150,000 combined square feet of experiential learning space. He also brought together the entire community in support of the More Than Ever fundraising campaign which raised over $850 million including the largest gift in School history.
Thomas S. Robertson, 2007-2014
In his tenure as dean, Thomas S. Robertson championed business as a force for good. He institutionalized three strategic pillars—Social Impact, Innovation, and Global Initiatives. He oversaw a comprehensive overhaul of the MBA curriculum, established the MBA “Semester in San Francisco,” and created the concept of Global Modular courses. He also led major initiatives—Lifelong Learning for alumni, the Wharton Public Policy Program, the establishment of the Penn-Wharton China Center, and a major commitment to online learning. Despite the financial crisis of 2008, Robertson led Wharton to exceed its campaign fundraising goal, raising $607 million, which allowed an increase in faculty size and a continued focus on faculty and student standards of excellence.
Patrick T. Harker, 1999-2007
Patrick T. Harker advanced and expanded the academic mission of the School, drawing many eminent faculty. He created Wharton | San Francisco and forged an alliance with INSEAD, the leading non-U.S. based business school. He also oversaw the launching of two innovative and successful initiatives: Knowledge@Wharton and Wharton School Publishing. Harker led Wharton to complete the largest fundraising campaign in its history, raising over $450 million.
Thomas P. Gerrity, 1990-1999
Thomas P. Gerrity oversaw the revolutionary reengineering of the School’s MBA and undergraduate programs to reflect the increasingly global and technology-oriented world, ultimately bringing the School unprecedented worldwide recognition for excellence. During his tenure, student applications, student quality, and endowment reached record levels. Additionally, he spearheaded the fundraising effort for Jon M. Huntsman Hall, the world’s premier business school academic facility, completed in 2002.
Russell E. Palmer, 1983-1990
Russell E. Palmer laid the foundation for Wharton to move into the forefront of business education at the graduate, undergraduate, and executive levels. Through his five-year “Plan for Preeminence,” Palmer successfully strengthened and broadened the faculty, increased the quality of applications the School received, oversaw the building of the Steinberg Conference Center (a state-of-the-art executive education facility) and furthered the process of creating an international and cross-disciplinary curriculum.
Donald C. Carroll, 1972-1983
At the time of his selection, Donald C. Carroll was the first dean to have come from outside the School. During his tenure, he enhanced the School’s depth and strength through the development of interdisciplinary programs and the creation of inter-school degrees, including the undergraduate degree in Management & Technology. Additionally, Carroll significantly advanced Wharton’s international outreach efforts and executive education initiatives.
Willis J. Winn, 1958-1971
Willis J. Winn is credited with leading curricular reform and upgrading the quality of Wharton’s academic programs, the PhD and entrepreneurial programs in particular. In addition, Winn further strengthened Wharton’s reputation for research through his active recruitment of senior scholars.
C. Arthur Kulp, 1955-1957
C. Arthur Kulp, the first dean in Wharton’s history to be named with the participation of faculty, tragically died only two years into his administration. Prior to his death, however, Dean Kulp brought recognition to the School because of his expertise in the field of social insurance and his part in designing the Social Security System.
C. Canby Balderston, 1942-1954
C. Canby Balderston’s most significant contribution was the construction of the first building for the Wharton School, Dietrich Hall. Wharton faculty, staff, and students had long been waiting for a building of their own, and it was Balderston who spearheaded a fundraising campaign to make the new construction possible.
Alfred H. Williams, 1939-1941
A protégé of Willits, Alfred H. Williams had chaired the Geography and Industry Department and the School’s Curriculum Committee prior to being named dean. Despite a very promising future at the Wharton School, his tenure lasted only two years when he left to become president of the Philadelphia Federal Reserve Bank.
Joseph H. Willits, 1933-1939
During his administration, Joseph H. Willits emphasized the importance of economic research and its application to the affairs of business. By raising the standards for faculty and fostering the pursuit of academic business research, Willits helped further Wharton’s reputation as a prestigious institution of scholarly research.
Emory R. Johnson, 1919-1933
Emory R. Johnson brought depth to Wharton’s programs by requiring professional specialization among faculty and students and, for the first time, organizing faculty into academic departments and subject groups. Johnson also brought the MBA program, once a part of the University curriculum, under Wharton’s control.
William C. McClellan, 1916-1919
William C. McClellan worked closely with University trustees to raise the stature of the School within the University and secure continued support from outside benefactors.
Roswell C. McCrea, 1912-1916
Under Roswell C. McCrea’s leadership, the Wharton faculty continued its study of social problems and strengthened ties with the City of Philadelphia’s government administrators, who relied upon Wharton faculty for their expertise.