Madhav Rajan Reappointed to Third Term as Dean of UChicago Booth School of Business
University of Chicago President Paul Alivisatos and Provost Katherine Baicker have announced the reappointment of Madhav Rajan to a third term as the Steven S. Wymer Dean of the University of Chicago Booth School of Business.
Since assuming the deanship in 2017, Rajan—who also serves as the George Pratt Shultz Distinguished Service Professor of Accounting—has overseen a transformative era for the institution. Under his leadership, the school has experienced sustained growth across its core missions, characterized by aggressive faculty recruitment, the launch of innovative academic programs, and the procurement of record-breaking philanthropic support.
A Legacy of Strategic Growth
“For nearly a decade, Madhav has led with purpose and a clear sense of what makes Booth distinct,” President Alivisatos said in a statement. “A third deanship term reflects the sustained confidence we have in Madhav’s stewardship of Booth.”
Rajan’s tenure has been defined by a commitment to interdisciplinary collaboration and academic expansion. He spearheaded the development of a robust network of research centers designed to bring scholars from diverse fields together to tackle complex problems. Furthermore, he has successfully integrated Booth’s expertise into the broader University ecosystem, most notably through the launch of the Business Economics track within the undergraduate College.
In 2024, the school reached a historic milestone by launching its first new degree programs in nearly 90 years: the Master in Management and the Master in Finance. Alongside these new offerings, Rajan has prioritized student accessibility, vastly increasing scholarship funding to attract a more diverse and talented student body.
Provost Katherine Baicker praised Rajan’s forward-thinking approach, noting, “He has recruited and retained exceptional faculty, put the school on extraordinarily strong footing, and taken smart risks on new ideas. We are thrilled to have Madhav continue serving as dean.”
Record-Breaking Philanthropy
Rajan’s ability to cultivate deep relationships with the Booth alumni community has been a pillar of his success. His fundraising efforts have been pivotal to the school’s financial health, with the endowment growing from $702 million to more than $2 billion during his tenure.
Key philanthropic achievements include:
- A $100 million gift to endow the Stevens Doctoral Program.
- A $60 million gift to support the Asness and Liew Master in Finance Program.
- A $100 million gift to endow the Sokolov Executive MBA Program.
Global Vision
Beyond his responsibilities at the business school, Rajan has taken on a prominent role in the University’s international footprint. In 2025, he was appointed as the University’s chief global strategist, where he provides leadership for UChicago Global and oversees the institution’s international strategy and foreign campuses.
Reflecting on his past nine years and the road ahead, Rajan expressed deep gratitude for the collaborative spirit of the Booth community.
“Nine years ago, I arrived at a school with a storied tradition of rigorous, evidence-based thinking,” Rajan said. “Partnering with our faculty, staff, students and alumni to turn that combination into work that has lasting impact has been the great honor of my career. I am excited to build on that energy to further broaden and deepen the school’s impact across the globe.”
