or equivalent before matriculating at Yale. Yale SOM may admit exceptional students from the Global Network for Advanced Management member schools who have not yet completed their MBA or equivalent degree provided. The MAM class of 2022 is composed of 55 students from 27 countries and 17 Global Network for Advanced Management schools and is 45% women. Master of Management Studies in Systemic Risk The Master of Management Studies in Systemic Risk is a recent degree added to the SOM curriculum, added in the 2017–18 academic school year. The program is a specialized master's degree for early- and mid-career students who are interested in the role of central banking and other major regulatory agencies. The Wall Street Journal has described the program as a "Degree of Danger" as it focuses on training the "next generation of regulators." Master of Management Studies in Asset Management The Master of Management Studies in Asset Management is a graduate degree program that targets students as well as working professionals. The degree has been developed in parallel with and also runs in collaboration with the Yale Investments Office. The program is highly rigorous and quant-heavy, with Asset Management students taking on advanced PhD level coursework. Strong computer programming, mathematics, and statistics skills coupled with financial modeling and business-related experiences are needed for success in this program. The first cohort of 56 students was welcomed in 2021 with an acceptance rate of approximately 2%, making it the most selective out of all Yale University programs. Doctor of Philosophy The doctoral program (PhD) at Yale SOM is a full-time, in-residence program intended for students who plan scholarly careers involving research and teaching in management. There are five major tracks for PhD students follow at SOM: Accounting, Finance, Marketing, Operations, and Organizations and Management. The program is structured so that it can be completed in three to five years. The curriculum for the first two years of PhD candidates is composed of 14 courses, which include two core courses, a social science sequence, an empirical methods sequence, a depth requirement, a breadth requirement, and electives. The program is small and admits only a few students each year; there are currently 51 doctoral candidates in the program. All admitted students are given a full stipend for five years if they satisfy the program's requirements. Joint Degrees The School's joint-degree programs include the MBA/JD with Yale Law School, MBA/MD with