#CareerAdvice : #CollegeGrad -More Universities Find Full-Time M.B.A. Programs Aren’t Worth It. Got Kids? #MustRead !
“If you were able to get every dean in the U.S. under a lie detector, outside of maybe the top 20 M.B.A. programs, every one of them would admit they were struggling to maintain enrollment and losing money on the program,” said Jeffrey Brown, dean of the Gies College of Business at the University of Illinois.
The 42 University of Iowa graduates who got their master’s in business administration degrees in May marked the end of an era for 160-year-old Tippie College of Business: They were its last class of full-time M.B.A.s.
Tippie joins a growing list of U.S. business schools shutting down their flagship M.B.A. programs in favor of shorter, specialized masters and online degrees.
In May, the University of Illinois at Urbana-Champaign and Stetson University in Florida said they would stop admitting new students to their full-time, on-campus M.B.A. programs, funneling resources instead to more popular online equivalents.
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Between 2014 and 2018, the number of accredited full-time M.B.A. programs in the U.S. shrank 9% to 1,189, with schools reporting 119 fewer two-year degrees in the most recent survey by the Association to Advance Collegiate Schools of Business. Wake Forest University and Virginia Polytechnic Institute and State University, commonly known as Virginia Tech, are among the others to recently cut their traditional M.B.A. programs.
Against that backdrop, shorter and more-flexible graduate business degrees have proliferated. At the business schools in the same survey, there were 140 new masters programs in specialized subjects like data analytics last year, marking a 16% jump from 2014, to 981. The data show online M.B.A. offerings, meanwhile, doubled to 390.
Business is the most popular field for students pursuing post-college degrees, but the strong economy has been hard on other American graduate schools too.
Full-time enrollment is down across master’s and doctoral programs in the arts and humanities, education and social sciences, according to an October report by the Council of Graduate Schools. Over the last five years, online and part-time degrees have gained ground in those fields, the data show. In 2017, there were 1.34 million graduate students over the age of 25 taking classes part-time, according to the latest Census Bureau statistics, reflecting an 8% jump on the year. The number of full-time students dropped 12% over that same period, falling just shy of 1.3 million.
WSJ.com | June 5, 2019
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