Wayne was a Knight-Bagehot Fellow during the 1979 academic year. She remained another year at Columbia Business School and was the first Bagehot Fellow to earn an M.B.A. from Columbia. She is the second to receive the Best of Knight-Bagehot honor, which was established last year. A mid-career study program, the Bagehot Fellowship was founded in 1975 by the journalism school to address the problem of deficiencies in business news coverage. As many as ten professional journalists are selected each year to study for two semesters at Columbia's schools of business, law, international affairs and journalism.
Fellows receive full tuition and a living expenses stipend.