Their $1 million investment strengthens affordability and will help educate the next generation of business leaders.
Jeanne Benet and University Trustee Jay S. Benet ’76S (MBA)
As part of For Ever Better: The Campaign for the University of Rochester, University Trustee Jay S. Benet ’76S (MBA) and Jeanne Benet have committed $1 million to establish an endowed scholarship at the Simon Business School. The Jay S. and Jeanne Benet Endowed Scholarship is designed to provide permanent financial support to students pursuing graduate business degrees, expanding access and opportunity at a pivotal moment for higher education—particularly at the professional level.
“We are immensely grateful to the Benets for this scholarship and what they’ve done, and continue to do, to support every aspect of the Simon experience,” says President Sarah Mangelsdorf. “Over the years, their investments—in our students, in faculty through their endowed Benet Professorship, and in career readiness through the Benet Career Management Center—have strengthened the school’s long-term distinction and competitiveness.”
This endowed scholarship will help enhance Simon’s ability to attract exceptional candidates in an increasingly competitive global market. For many students, scholarships like this are the deciding factor in whether graduate business school is financially possible for them—particularly for those balancing career transitions, family responsibilities, and foregone earnings.
“Simon is one of the University’s gems,” says Jay Benet. “Simon, the University, and students are facing significantly rising costs, Jeanne and I want this gift to make a clear and lasting difference for Simon, by helping students earn their degrees and navigate an increasingly complex world.”
Jay Benet adds that for Simon, the scholarship will provide stable, long-term resources, helping the school to focus on delivering an exceptional educational experience. For the University, it advances the goals of the For Ever Better campaign by placing students at the center of that effort. For students, it helps make a Simon education attainable, allowing them to fully engage in the program and prepare for meaningful lives and careers.
By expanding access to a Simon education, the scholarship aligns with both the University’s Boundless Possibility strategic plan and the For Ever Better campaign. It will support students who exemplify the hallmarks of a Simon education—analytical excellence, ethical leadership, and collaborative problem-solving—preparing them to lead with skill and confidence.
This new scholarship builds on the Benets’ longstanding support of Simon students across the full arc of their business education. In 2014, as part of The Meliora Challenge comprehensive campaign, the couple established the Jay S. and Jeanne P. Benet Professorship of Finance, strengthening learning in the classroom. In 2019, they further invested in student success by establishing the Jay S. and Jeanne Benet Career Management Center Endowment, which supports students as they prepare and transition into their careers.
“On behalf of the Simon community, we extend our deepest thanks to the Benets,” says Mitch Lovett, Simon’s interim dean and the Benjamin Forman Professor of Marketing. “Jay is an exceptionally engaged alumnus who represents the best of Simon—his ongoing leadership and philanthropy are grounded in his strategic vision and generosity of spirit. His and Jeanne’s support inspires our entire community, elevates the Simon experience for all, and will endure for generations.”
Beyond individual students, the scholarship will contribute to the broader strength of Simon and the University. Graduates who can pursue their education with less financial strain are better positioned to take thoughtful career risks, enter public- and private-sector roles where they can make meaningful contributions, and remain engaged alumni who give back to future generations.
“When I was a student, I was very proud to go to Simon, and I benefitted from an extraordinary range of ideas presented to me that shaped my career,” emphasizes Jay Benet. “Higher education is facing real challenges right now, and endowed scholarships like this give the University the flexibility it needs to remain competitive.”
About Jay Benet
Prior to his retirement in 2020, Jay Benet served as vice chairman and chief financial officer for the Travelers Companies, Inc., a leading provider of property casualty insurance for auto, home, and business, and a component company of the Dow Jones Industrial Average. He previously served as worldwide head of financial planning, analysis, and reporting at Citigroup, as well as chief financial officer for its global consumer business in Europe, the Middle East, and Africa. Before these roles, he held senior executive positions with Travelers Life & Annuity, including chief financial officer, and was a partner at Coopers & Lybrand (now PwC).
Jay Benet is chair of Simon’s National Council, co-chair of Simon’s For Ever Better Campaign Steering Committee, and a recipient of Simon’s Distinguished Alumnus Award. He joined the University’s Board of Trustees in 2017. He received a bachelor’s degree in mathematics from Binghamton University and an MBA from the Simon Business School. He is a five-time recipient of the Best CFO Award for Insurance from Institutional Investor.
For Ever Better
Philanthropy and engagement are critical to the future success of the University. Learn how you can support For Ever Better: The Campaign for the University of Rochester. To make a difference for Simon Business School, contact Jaime Earl, Executive Director for Simon Advancement.
