Founded in 1900, the School of Business established one of the first five business programs in the nation. That entrepreneurial spirit remains strong. 

As a student in the School of Business, you will find yourself inspired by peers, staff, alumni, business leaders, and world-renowned faculty who are focused, collaborative, and engaged in every aspect of the student experience. You will join a highly ranked program that equips you to meet both academic and career challenges. Employers value School of Business graduates because of the comprehensive preparation this learning environment provides. Graduates possess highly sought-after general management and specialized expertise in business. 

Joining collaborative, inspiring, trustworthy, and progressive Wisconsin School of Business alumni, Business Badgers graduate prepared to lead their organizations to success and transform the world of business. Together Forward!

The MBA in Business: Risk Management and Insurance program has a long tradition of innovation and excellence, opening its doors more than 70 years ago, and consistently ranks in the top handful of programs in the country. Students who graduate from our risk management and insurance program do so with exceptionally strong critical thinking and analytical skills, aided by a vast array of experiences interacting with business professionals in risk management consulting, finance, and operations. The School of Business’ Risk Management and Insurance program has consistently ranked among the best in the nation, recently earning a ranking of #2 in the United States by U.S. News and World Report. See the program website for more information.

Admission consideration for the MBA program requires a four-year undergraduate degree or the equivalent, in any discipline, from an accredited institution. The School of Business seeks a minimum of two years of full-time work experience along with a strong undergraduate performance. In addition to academic credentials, GMAT scores, and work experience, personal achievements, motivation, communication skills (written and oral), international exposure, and recommendation letters are considered in the admission process at both the master's and doctoral levels.

Note: The Graduate Management Admission Test (GMAT), taken within five years of the starting term, is required of all applicants to the School of Business; the Graduate Record Exam (GRE) may be an acceptable alternative on a case by case basis. All applicants whose native language is not English must submit scores from the Test of English as a Foreign Language (TOEFL), the Pearson Test of English (PTE), Intensive English as a Second Language (IELTS), or show the completion of an Interlink program. A minimum iBT TOEFL score of 100 or equivalent, obtained within two years of the intended start term, is required. International applicants who have completed a degree at an institution whose primary language of instruction was English may request a waiver of this requirement on the application.

How to Apply

Students interested in Business degrees do not apply through the Graduate School application system and should instead refer to the School of Business Admissions page.

Graduate School Resources

Resources to help you afford graduate study might include assistantships, fellowships, traineeships, and financial aid. Further funding information is available from the Graduate School. Be sure to check with your program for individual policies and restrictions related to funding.

Program Resources

Prospective students should see the program website for funding information.

Minimum Graduate School Requirements

Review the Graduate School minimum academic progress and degree requirements, in addition to the program requirements listed below.

Major Requirements


Face to Face Evening/Weekend Online Hybrid Accelerated
Yes No No No No

Mode of Instruction Definitions


Minimum Credit Requirement 59 credits
Minimum Residence Credit Requirement 59 credits
Minimum Graduate Coursework Requirement 37 credits out of 59 total credits must be completed graduate-level coursework; courses with the Graduate Level Coursework attribute are identified and searchable in the university's Course Guide (
Overall Graduate GPA Requirement 3.00 GPA required.
Other Grade Requirements The Graduate School requires an average grade of B or better in all coursework (300 or above, not including research credits) taken as a graduate student unless conditions for probationary status require higher grades. Grades of Incomplete are considered to be unsatisfactory if they are not removed during the next enrolled semester.
Assessments and Examinations No required assessments or examinations beyond course requirements.
Language Requirements No language requirements.

Required COURSES

Year One
Fall Semester
GEN BUS 704 Data to Decisions3
ACCT I S 700 Financial Accounting3
FINANCE 700 Introduction to Financial Management3
M H R 706 Leading and Working in Teams1
MARKETNG 700 Marketing Management3
R M I 700 Principles of Risk Management3
R M I 765 Contemporary Topics1
Spring Semester
M H R 723 Business Strategy3
OTM 700 Operations Management3
OTM 732 Economics for Managers3
R M I 660 Risk Analytics and Behavioral Science3
R M I 820 Advanced Topics in Risk Management3
or R M I 875 Seminar-Risk Management and Insurance
Summer Semester
GEN BUS 750 Professional Experience in Business1
Year Two
Fall Semester
GEN BUS 710 Ethics, Integrity and Society1
ACCT I S 603 Financial Statement Analysis3
R M I 640 Management of Insurance Enterprise3
or R M I 645 Commercial Insurance
R M I 655 Risk Financing Techniques3
R M I 765 Contemporary Topics1
Spring Semester
R M I 640 Management of Insurance Enterprise3
or R M I 645 Commercial Insurance
R M I/​GEN BUS  701 Managing Legal Risks3
R M I 820 Advanced Topics in Risk Management3
or R M I 875 Seminar-Risk Management and Insurance
Total Credits59

Graduate School Resources

Take advantage of the Graduate School's professional development resources to build skills, thrive academically, and launch your career. 

  1. Integrate a holistic risk management process (framework) across all dimensions of an organization, implementing RM decisions that add value.
  2. Apply fundamental insurance principles that support economic development through insurance markets.
  3. Use appropriate qualitative and quantitative analysis, including statistical and data techniques, to support risk management decisions.
  4. Demonstrate strong critical thinking skills as observed through their ability to debate various positions, ask skeptical questions, and probe underlying assumptions.
  5. Set objectives, define success, establish priorities, and implement strategies to achieve goals.
  6. Identify decision-making challenges, and implement strategies to address those challenges, in environments involving risk and uncertainty.
  7. Incorporate diverse perspectives, value opinions of others, and work collegially.
  8. Communicate effectively across diverse social and professional settings.
  9. Demonstrate leadership qualities in moving the profession forward.
  10. Build and develop teams and lead effectively at individual, group, and organizational level.
  11. Communicate effectively on paper, in conversation, and by presentation.
  12. Summarize complex problems, present results succinctly, and with logical flow, respond effectively to critical and skeptical questions, and listen to critiques.

Graduate School Policies

The Graduate School’s Academic Policies and Procedures provide essential information regarding general university policies. Program authority to set degree policies beyond the minimum required by the Graduate School lies with the degree program faculty. Policies set by the academic degree program can be found below.

Major-Specific Policies

Prior Coursework

Graduate Work from Other Institutions

No credits of prior coursework are allowed to satisfy requirements.

UW–Madison Undergraduate

No credits from a UW–Madison undergraduate degree are allowed to count toward the degree.

UW–Madison University Special

No credits of prior coursework are allowed to satisfy requirements.


The Graduate School regularly reviews the record of any student who earned grades of BC, C, D, F, or Incomplete in a graduate course (300 or above), or grade of U in research credits. This review could result in academic probation with a hold on future enrollment or in being suspended from the Graduate School.


Every graduate student is required to have an advisor. To ensure that students are making satisfactory progress toward a degree, the Graduate School expects them to meet with their advisor on a regular basis.

An advisor generally serves as the thesis advisor. In many cases, an advisor is assigned to incoming students. Students can be suspended from the Graduate School if they do not have an advisor. An advisor is a faculty member, or sometimes a committee, from the major department responsible for providing advice regarding graduate studies.

A committee often accomplishes advising for the students in the early stages of their studies.


15 credits

Time Constraints

Master’s degree students who have been absent for five or more consecutive years lose all credits that they have earned before their absence. Individual programs may count the coursework students completed prior to their absence for meeting program requirements; that coursework may not count toward Graduate School credit requirements.

grievances and appeals

These resources may be helpful in addressing your concerns:

Students should contact the department chair or program director with questions about grievances.


Students must be enrolled full-time.

Faculty: Professors Schmit (chair), Frees, Rosenberg; Associate Professors Leverty, Shi, Sydnor; Assistant Professors Mukherjee, Wang


AACSB International—The Association to Advance Collegiate Schools of Business

Accreditation status: Accredited. Next accreditation review: 2021–2022.