Madhav Rajan gets third term as Booth dean
University of Chicago President Paul Alivisatos and Provost Katherine Baicker announced Rajan's reappointment for a third term.
Rajan currently serves as the Steven S. Wymer Dean and George Pratt Shultz Distinguished Service Professor of Accounting at Chicago Booth.
He has led the business school for nearly nine years, with his tenure marked by investments in faculty, academic programs, scholarships and the school's global presence.
Alivisatos said Rajan's third term reflects the university's continued confidence in his stewardship and leadership of Booth.
Major academic changes under Rajan
Rajan has made faculty recruitment and retention a major priority during his tenure. He also supported the development of research centers designed to encourage collaboration across academic disciplines.
Under his leadership, Booth launched its first new degree programs in nearly 90 years. The Master in Management and Master in Finance programs welcomed their inaugural cohorts in 2024.
He also helped expand Booth's connection with the wider University of Chicago through joint degrees and the Business Economics track, which has become the largest major in the university's College.
Expanding Booth's global footprint
Rajan has worked to strengthen Chicago Booth's presence across Asia, Europe, the Middle East and Africa.
His efforts have included expanding academic programs and deepening relationships with alumni and supporters in international markets.
The broader global strategy gained additional importance in 2025 when Rajan was appointed the University of Chicago's Chief Global Strategist.
Major philanthropic support
Fundraising has been another major part of Rajan's leadership at Booth.
The business school has secured significant philanthropic commitments supporting faculty research, scholarships and academic programs. These include a $100 million gift for the Stevens Doctoral Program, $60 million for the Asness and Liew Master in Finance Program and $100 million for the Sokolov Executive MBA Program.
According to the university, Booth's endowment has grown from approximately $702 million to more than $2 billion over the past decade.
Additional role as Chief Global Strategist
Rajan took on an expanded university-wide role in 2025 as Chief Global Strategist.
In that position, he helps shape the University of Chicago's international strategy and oversees UChicago Global as well as the university's international campuses.
The additional responsibility places Rajan at the center of both Booth's development and the university's broader global ambitions.
Distinguished academic career
Before joining Chicago Booth, Rajan spent 16 years at Stanford University's Graduate School of Business, where he served as the Robert Jaedicke Professor of Accounting.
He was also Stanford GSB's Senior Associate Dean for Academic Affairs from 2010 to 2016, overseeing its MBA program.
Earlier, Rajan was a faculty member at the University of Pennsylvania's Wharton School from 1990 to 2001.
His academic work focuses primarily on economics-based analysis of management accounting issues. He has received multiple awards for research and teaching and has served as editor of The Accounting Review.
Educational background in India and the US
Rajan earned his bachelor's degree in Commerce from the University of Madras in India.
He subsequently earned an MS in Accounting, an MS in Industrial Administration and a PhD in Accounting from Carnegie Mellon University.
His career has since taken him through some of the leading business schools in the United States, culminating in his long-running leadership role at Chicago Booth.
Conclusion
Madhav Rajan's third appointment as Dean of Chicago Booth reflects the university's confidence in the direction he has established over nearly a decade.
His tenure has been defined by new academic programs, faculty investment, international expansion, increased scholarships and substantial philanthropic support. With his simultaneous role as Chief Global Strategist, Rajan is now positioned to influence not only Booth's next phase of growth but also the University of Chicago's wider global ambitions.
