in the program. The Hayes-Healy building opens in 1968, thanks to a gift from Ramon Hayes-Healy, offering more space for the growing college. In 1999, the new and current building is completed. Located just southwest of the Notre Dame Stadium, it was designed following a nautical motif and nicknamed "the ship of commerce". In March 2000, the College of Business received a naming gift from NetApp, Inc. executives, Tom and Kathy Mendoza. In 2006, Notre Dame bought the Santa Fe building in Chicago, and relocated Executive MBA, MS in Finance, and MS in Business Analytics programs. In 2007, the College is one of the first signatories of the Principles for Responsible Management Education (PRME). In 2010, Mendoza was ranked as No. 1 for undergraduate business by Bloomberg Businessweek, the first of five consecutive years. In 2013, the Stayer Center for Executive Education was built with a gift from Ralph Stayer, a '65 graduate. Rankings and reputation In 2016, Mendoza's undergraduate business program was ranked No. 2 by Bloomberg Businessweek. Mendoza's undergraduate business program was ranked No. 9 in the U.S. by U.S. News in 2016. In the 2017 edition, Mendoza no longer appears among the top 10. However, in 2017, Poets and Quants ranked Mendoza's undergraduate business program at No. 4 nationally. Rankings for Mendoza's MBA program among U.S. MBA programs include No. 22 by Forbes, #26 in 2017 by Bloomberg BusinessWeek and No. 31 by U.S. News & World Report. In global rankings, the Mendoza MBA was ranked No. 40 by The Economist and No. 80 by Financial Times. Its Executive MBA program was ranked No. 15 by Bloomberg Businessweek. College Atlas and The Economist rank the Mendoza MBA 2nd among business schools in Indiana. For 2011, the Aspen Institute, which ranks institutions on how well schools incorporate issues concerning social and environmental stewardship into the curriculum, ranked Mendoza #4 worldwide. Poets & Quants reveals a placement rate of 93% after 3 months for the Undergraduate school, as well as an average starting salary of roughly $72,000. Selectivity MBA program The admissions rate for the 2014 was 35%. Applicants are required to take the GMAT exam. Of the admitted applicants, the median score was 687 and the middle 80% of scores ranged from 650 to 769. Undergraduate program After completing the university's First Year of Studies program, Notre Dame business majors enter the Mendoza College in their second year.