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Why Business Schools Are Shutting Down Their MBA Programs
Posted on 5/27/19 at 10:23 am
Posted on 5/27/19 at 10:23 am
quote:
The University of Illinois’ Gies College of Business has become the latest school to announce that it is getting out of the full-time, on-campus MBA market. Instead, Gies will focus more aggressively on its online MBA option, the $22,000 iMBA, which has seen big growth since being launched in 2015
quote:
Why is Gies giving up on its full-time MBA? For one thing, the school admits it is losing money on the program. While it may surprise many observers given how high tuition rates are for MBA programs, many of these programs are actually loss leaders or “show” programs to get a U.S. News ranking. Secondly, applications to most MBA programs have been declining for years, evidence that there is less interest in the degree.
quote:
There are a surprising number of schools in this same predicament. They have sub-optimally sized programs that cannot support the expenses required to deliver a quality program. And that is why we have seen a number of schools drop out of the full-time MBA market. The list includes the Univesity of Iowa, Wake Forest University, Thunderbird School of Global Management, Virginia Tech, and Simmons College.
Many are putting more resource behind their undergraduate business programs, specialty master’s in business, and online MBA programs. Today, nearly 32,000 students are studying for an online MBA at the 25 largest programs in the U.S. At the same time Gies experienced declining interest in its full- and part-time MBA programs, interest in its online MBA has exploded. Applications to its iMBA are expected to hit 3,200 this year, up from 1,099 in 2016, even though the program isn’t yet ranked among the best online MBAs in the U.S.
LINK
Great, just what we need more useless diploma mill MBAs like LSUS. Online MBAs completely disregard about 95% of the true value of getting an MBA. If you want a piece of paper that you simply pay for go ahead.
6
Posted on 5/27/19 at 10:37 am to OleWarSkuleAlum
My prediction is we are going to see an explosion of one-year functional Masters programs over the next decade. Masters in Finance / Business Analytics / Marketing / Information System, etc. These will be geared as a “5th” for undergrads looking for very practical skills and an edge in the marketplace.
I’ve got my MBA and it wasn’t that big of a deal. I learned more time management during the two years than anything else. I would have “learned more” doing a one year program going super deep into a discipline than the general management curriculum of a MBA program. With that said, general management is great exposure for people who have never studied or practiced business.
One of my goals is to sit for the Micro Masters in Supply Chain MIT program on Edx...I want to experience a MOOC firsthand to see how it shapes my viewpoints.
I’ve got my MBA and it wasn’t that big of a deal. I learned more time management during the two years than anything else. I would have “learned more” doing a one year program going super deep into a discipline than the general management curriculum of a MBA program. With that said, general management is great exposure for people who have never studied or practiced business.
One of my goals is to sit for the Micro Masters in Supply Chain MIT program on Edx...I want to experience a MOOC firsthand to see how it shapes my viewpoints.
Posted on 5/27/19 at 10:52 am to lynxcat
quote:
My prediction is we are going to see an explosion of one-year functional Masters programs over the next decade. Masters in Finance / Business Analytics / Marketing / Information System, etc. These will be geared as a “5th” for undergrads looking for very practical skills and an edge in the marketplace.
That sounds like a great idea. A more accessible and thus an equally worthless MBA isn’t the correct path forward.
Posted on 5/27/19 at 11:16 am to OleWarSkuleAlum
Its a worthless degree. Money racket.
Posted on 5/27/19 at 11:32 am to lynxcat
12-18 mo focused master’s of professional studies programs are definitely the higher ed trend of the moment, whether in business or other applied fields. Online and hybrid executive style programs are current leaders: virtually no one wants FT residential graduate study any more (outside of law, which is more about the law school professorial class than market demand).
Posted on 5/27/19 at 11:33 am to TrouserTrout
quote:
Its a worthless degree. Money racket.
It has value for BA undergraduates, but in general yes it’s simply a arbitrary requirement to move up the ladder.
Posted on 5/27/19 at 12:14 pm to OleWarSkuleAlum
quote:
more useless diploma mill MBAs like LSUS.
There is over a 400 page thread on this very board about LSUS. With respect for their current students and alumni, you should have picked on another school, not LSUS.
There is not a damn thing wrong with LSUS. It’s AACSB accreditation speaks for itself.
This post was edited on 5/27/19 at 12:29 pm
Posted on 5/27/19 at 3:42 pm to Paul Allen
Does the second S in LSUS stand for “sensitive”?
Posted on 5/27/19 at 6:04 pm to TrouserTrout
quote:
Its a worthless degree. Money racket
If not from the top 20-40 schools, you are sort of right.
Posted on 5/27/19 at 6:25 pm to Paul Allen
quote:
With respect for their current students and alumni, you should have picked on another school, not LSUS.
Posted on 5/27/19 at 6:30 pm to jimbeam
One simple question, do the people criticizing the MBA system have MBA's themselves?
If someone with an MBA is voicing this criticism I will listen and give it credence.
Otherwise, opinions from those who haven't walked that road carries little weight.
If someone with an MBA is voicing this criticism I will listen and give it credence.
Otherwise, opinions from those who haven't walked that road carries little weight.
Posted on 5/27/19 at 6:36 pm to Paul Allen
Hey Paul, great to hear you on here! Hope all is well.
Posted on 5/27/19 at 6:38 pm to OleWarSkuleAlum
Unfortunately, MBAs are more like undergrad degrees now. Everybody has one so their value has been diminished unless you go to a super elite school.
Posted on 5/27/19 at 6:53 pm to FinleyStreet
quote:
Unfortunately, MBAs are more like undergrad degrees now. Everybody has one so their value has been diminished unless you go to a super elite school.
FinleyStreet, I tend to agree with your comment. MBA's have become much more common in the last 20 years. The scarcity in the past was a significant advantage. That advantage has significantly diminished now.
Posted on 5/27/19 at 6:59 pm to socal77
Thank you, socal77! Hope you’re doing well.
Posted on 5/27/19 at 7:07 pm to socal77
quote:
One simple question, do the people criticizing the MBA system have MBA's themselves?
Great question. I’ll also give credence to those with an MBA. But like you said, for the ones offering arbitrary criticism without an MBA, I’m not going to pay any attention to those comments.
Posted on 5/27/19 at 8:25 pm to FinleyStreet
quote:I've bitched about this before, so here goes round two. My impression from recent MBA graduates (and online graduates) is that their experience was inferior to mine. I earned mine almost 20 years ago. It took 5 years of face-to-face and arse-in-seat classes. We also had to put together a business plan to develop the West State Street area near campus for the eventual developer. I felt the education was worthwhile and meaningful. That opinion was reinforced when I went through LSU's Executive Education program.
Everybody has one so their value has been diminished unless you go to a super elite school.
My complaint is that in the rush by many universities to cash in on selling a MBA program, they watered down the product. They do not require today what was required 20 years ago. The degree today is not the degree that it was. Online education is not the same as class room education (and I say this as someone who has also been an instructor for both).
Having said that, I've actually leveraged what I learned and was able to be identified as a successful leader before the shite show started. So, while I value the education I received, I also summarily dismiss (or at least discount) newly minted MBAs -- rightly or wrongly.
Posted on 5/27/19 at 8:43 pm to OleWarSkuleAlum
an mba outside the the second tier of programs (top 40ish) is dicey. just another check mark for logistical/production managers and gubmit workers.
not many mba programs worth it anyway.
can't blame gies for this. they are in the same market area as booth, kellogg and ross. no way they will ever compete with those mba programs.
ross now has a mostly online mba WITH ocr. that's actually pretty badass.
not many mba programs worth it anyway.
can't blame gies for this. they are in the same market area as booth, kellogg and ross. no way they will ever compete with those mba programs.
ross now has a mostly online mba WITH ocr. that's actually pretty badass.
This post was edited on 5/27/19 at 8:52 pm
Posted on 5/27/19 at 9:00 pm to RoyalWe
RoyalWe, I appreciate your post and agree that an MBA earned 20 or more years ago required some serious face-to-face classroom time. I can't argue that the online MBA I earned a couple years ago can match up to yours in depth.
The model has changed. I believe that very few on-campus full-time MBA programs are as stingent as they were back when you earned yours. Back then, I'd say it was next to impossible for someone to earn an MBA while working full-time and/or trying to raise a family as well. For the most part, if you didn't go right into the MBA program out of undergard, or before you got married and had kids, you weren't likely to pursue it once you were out of your 20's. Life's responsibilities wouldn't allow it.
So someone came up with our current model to allow working professionals to earn their MBA later in life. This created a new pool of students and universities jumped on the opportunity.
The model has changed. I believe that very few on-campus full-time MBA programs are as stingent as they were back when you earned yours. Back then, I'd say it was next to impossible for someone to earn an MBA while working full-time and/or trying to raise a family as well. For the most part, if you didn't go right into the MBA program out of undergard, or before you got married and had kids, you weren't likely to pursue it once you were out of your 20's. Life's responsibilities wouldn't allow it.
So someone came up with our current model to allow working professionals to earn their MBA later in life. This created a new pool of students and universities jumped on the opportunity.
This post was edited on 5/27/19 at 11:09 pm
Posted on 5/27/19 at 10:01 pm to socal77
quote:
Back then, I'd say it was next to impossible for someone to earn an MBA whike working full-time and/or trying to raise a family as well. For the most part, if you didn't go right into the MBA program out of undergard, or before you got married and had kids, you weren't likely to pursue it once you were out of your 20's. Life's responsibilities wouldn't allow it
Excellent point and very understated. Maybe the top 40 programs should move back to the directly after undergrad role.
The problem I see is that a ton of Mba’s Don’t know entirely what they want to focus on and that’s where the job experience helps.
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