Johns Hopkins Legacy

johns hopkins carey business school campus in baltimore

Johns Hopkins Legacy

Johns Hopkins Carey Business School is not the average business school. Just as Johns Hopkins was not the average business man. 

Johns Hopkins’ mother saw her child’s innate business ability and pushed him to “go where the money is.” After arriving in Baltimore, Johns quickly advanced from store clerk to finance capitalist and ultimately bank president. 

Before Johns Hopkins was a hospital or a university, Johns was a businessman building for what’s next. Even after he made his fortune, he remained committed to creating lasting value. It was that quest to build for what’s next that drove Johns to create America’s first research university and set a new course for education. 

William Polk Carey also saw the chance to create lasting value for business education and by pledging his support ensures that the future generations will have the same opportunity, like Johns, to thrive within change and advance society. 

That vision of building for tomorrow continues with the Johns Hopkins Carey Business School. Students find their paths. Together, we build for what’s next.

Business at Johns Hopkins — An Audacious Beginning

Some of the earliest business classes at Johns Hopkins challenged conventional wisdom. From the beginning, Henry L. Gantt—class of 1880 and inventor of the Gantt Chart, became a leading figure in the scientific management movement, presenting cutting-edge and often controversial ideas in his lectures at Johns Hopkins.  

In 1916, Johns Hopkins added business and engineering courses for part-time students. Energetic individuals such as Gantt fostered the growth of the new field of business administration and the concept of "working smarter" to enhance efficiency and profits. Following World War II, the Johns Hopkins program produced more CPAs than any other school in Maryland. 

Over time, management science program became the first graduate level business degree at Johns Hopkins with a focus on applying new findings in quantitative analysis and general systems theory. In 1991, the school developed new programs to address a business landscape incorporating transformed by technological innovation, emerging economies, and escalating politics, including specialized Master of Science programs and Master of Business Administration degree.

Establishing Johns Hopkins Carey Business School

On December 4, 2006, Johns Hopkins trustees, in response to a gift from businessman William Polk Carey, voted to establish a new business school dedicated to producing innovative leaders with broad, interdisciplinary knowledge. The school was named after Carey’s great-great-great grandfather, James Carey of Loudon, a successful Baltimore merchant during the 18th and 19th centuries. On January 1, 2007, the new Carey Business School opened its doors for the first time.

Carey's $50 million donation, paired with $50 million to be raised by the university, was responsible for launching the Carey Business School. This was the largest gift ever in support of business education at Johns Hopkins. 

Timeline

  • 1916: Evening Courses in business economics begin.
  • 1926: Chi Chapter of Delta Sigma Pi (a business fraternity) moves to Johns Hopkins from the University of Maryland School of Business Administration where it had been installed in 1922 – clear evidence that an undergraduate business program had existed at Johns Hopkins at the time.
  • 1953: Business education at Johns Hopkins consolidated with disestablishment of Department of Business Economics and the transfer of students from the Faculty of Philosophy (now the Krieger School of Arts and Sciences) to McCoy College.
  • 1961: A graduate degree with a focus on operations research is introduced –the Master of Science in management science.
  • 1964: McCoy College is renamed the Evening College and Summer Session. The college is organized into five divisions: administration and business; arts and sciences; education; engineering and physical sciences, and special Programs.
  • 1971: Students enroll in new Master of Administrative Science (MAS) degree.
  • 1984: Evening College and Summer Session is renamed School of Continuing Studies.
  • 1988U.S. News & World Report ranks the Johns Hopkins MAS program as the third best regionally accredited business program in the eastern United States.
  • 1991: Berman family establishes the Allan L. Berman Institute of Real Estate Development and launches part-time Master of Science in Real Estate degree.
  • 1991: Beginning during the fall semester, a Master of Science in Business degree replaces the MAS.
  • 1992: Johns Hopkins Washington, D.C. Center opens and begins offering business courses.
  • 1999: Master of Business Administration degree is introduced, which replaces the MSB degree. The School of Continuing Studies is renamed the School of Professional Studies in Business and Education (SPSBE).
  • 2000: The Master of Science in Finance degree program is launched.
  • 2004: Edward St. John’s generous gift establishes what would become the Edward St. John Real Estate Program and the establishment of a full-time Master of Science in Real Estate degree. 
  • December 5, 2006: Philanthropist William Polk Carey's W.P. Carey Foundation announces a gift of $50 million to Johns Hopkins to establish Johns Hopkins Carey Business School. The school is named in memory of his great-great-great grandfather, James Carey, a prominent Baltimore businessman.
  • January 1, 2007: SPSBE separates into two new schools at Johns Hopkins — the Carey Business School and the School of Education.
  • October 2008: Yash Gupta becomes the first dean of Johns Hopkins Carey Business School. 
  • July 2010: Carey’s Baltimore campus moves from 100 North Charles Street to the Legg Mason Building in Baltimore’s Harbor East neighborhood, overlooking Baltimore’s thriving Inner Harbor.
  • 2010: Carey launching first full-time MBA program with the Global MBA.
  • May 2012: Charter Global MBA class graduates.
  • July 2012: Bernard T. Ferrari, MD, JD, MBA, becomes the second dean of the Johns Hopkins Carey Business School. Dean Ferrari comes to Carey after a distinguished career in medicine and consulting.
  • 2013: Carey launches first full-time MS in Finance and full-time MS in Marketing degree programs. Facilities in Baltimore and Washington, D.C., are expanded to accommodate hundreds of new MS students.
  • 2014: Full-time MS in Health Care Management and full-time MS in Enterprise Risk Management degree programs established.
  • 2015: Carey expands flexible MBA degree program with the addition of online courses.
  • February 15, 2017: Carey Business School earns initial accreditation from the Association to Advance Collegiate Schools of Business (AACSB).
  • 2017: MS in Information Systems offered as a full-time program.
  • September 2018: Full-time MS in Finance becomes a STEM-designated program for 2019. In the following months, MS in Business Analytics and Risk Management (formerly MS in Enterprise Risk Management) and the full-time MS in Marketing also receives STEM-designation.
  • July 2019: Dr. Bernard T. Ferrari retires after seven years as dean of Carey Business School. Valerie Suslow, professor and vice dean for faculty and research, becomes interim dean.
  • August 2019: Alexander Triantis becomes third dean of Carey Business School. Triantis joins Carey from the University of Maryland Smith School of Business where he served as dean. 
  • More information on the history of business education at Johns Hopkins University can be found in the book, From Inkwell to Internet.