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It’s Official: The MBA Degree Is In Crisis

Graduating MBA students this year have had no trouble landing very good jobs. In most cases, starting pay has hit record levels and placement rates for schools are at or near records as well.

Yet, for the second consecutive year, even the highest ranked business schools in the U.S. are beginning to report significant declines in MBA applications and the worse is yet to come, with many MBA programs experiencing double-digit declines. Last year, the top ten business schools combined saw a drop of about 3,400 MBA applicants, a 5.9% falloff to 53,907 candidates versus 57,311 a year earlier (see Acceptance Rates At The Top 50 Business Schools). The University of Michigan Ross School of Business experienced the worst drop, an 8.5% decline from 3,485 to 3,188 apps. Harvard fell 4.5%, UC-Berkeley Haas 7.5%, Wharton 6.7%, Stanford 4.6%, and Booth 8.2%.

“For the second consecutive year, the top ten schools all saw significant declines in applications,” says William Boulding, dean of Duke University’s Fuqua School of Business. “I have been hearing that some schools in the top ten are in double-digit territory so I think it is going to be worse than last year when all is said and done.”

The University of Pennsylvania’s Wharton School just announced that applicants for its fall 2019 intake numbered 5,905, down 5.4% from 2018 and 11.8% from the school’s all-time high of 6,692 in 2017. It was the first time in at least eight years that apps dipped below 6,000 at Wharton, and it corresponded with the lowest international student intake — 30% — in at least that span.

NYU’s Stern School of Business applications for its latest incoming class declined by more than 5% to 3,518 from 3,718 the prior year (see Average GMATs Up Five Points At Stern). Along with the previous year’s 3.7% drop in apps, the fall pushed the school’s acceptance rate to 26%, a three percentage point increase from 23% a year earlier. It also had an impact on the school’s entering class size of 359, down slightly from the 370 enrolled the previous year.

“The MBA market is in dire straits right now,” concedes Andrew Ainslie, dean of Rochester University’s Simon School of Business. “The joke among deans is that ‘flat is the new up.’ If we can just hold our numbers, that is an incredible achievement.” Ainslie says that when he meets with fellow deans, “half of our discussion is, ‘What are you doing about your MBA program?'”

Ainslie recently participated in an accreditation review at a leading business school and was shocked to find that its full-time MBA program now gets only three applicants for every enrolled student. “Most of us feel we need to make three offers to get one student” says Ainslie. “So once you get there that means you are making offers to just about everyone. And this is at a school that is an internationally known brand.”

Ainslie predicts that 10% to 20% of the top 100 MBA programs in the U.S. will likely close in the next few years, with even greater fallout among second- and third-tier schools. Just three months ago, University of Illinois’ Gies College of Business became the latest school to announce that it is getting out of the full-time, on-campus MBA market.

Simon saw its application volume remain stable this past year, largely because last year it become the first U.S. business school to gain full STEM designation for its full-time MBA program.  The change allows international students to apply for an additional 24 months optional practical training (OPT), which helps to bridge the gap between a student visa and a work visa. “We thought we would be in an incredible position with STEM. Given the news I’m hearing from everyone else, I am very happy being flat,” sighs Ainslie.

Deans attribute the decline to a confluence of factors that include a strong U.S. economy, which is keeping more people in their jobs, as well as uncertainly over work visas by international students who also have been scared off of coming to the U.S. due to anti-immigration rhetoric. Also playing a role is the rising cost of the degree and cannibalization of the full-time MBA market by the success of undergraduate business degrees, online MBA programs, and specialized master’s programs in such business disciplines as finance, accounting, analytics, marketing, and supply chain management.

MBA application volume, of course, goes up and down in different economic cycles. Typically, recessions bring a rebound as career opportunities diminish and more professionals seek to ride out a downturn in graduate school. In fact, says Ainslie, he hears fellow deans also joke that ‘All we need is a nice little recession.’ We are about the only people in the world who like a recession,” he says. “We think it will still be good enough for us.”

But when the next recession comes, he expects only a temporary and more mild bounce back in applications than history would suggest. Ted Snyder, who just left the deanship of Yale University’s School of Management, agrees with him, citing the high cost of the MBA degree as a reason why a recession won’t lead to double-digit jumps in application volume.

“Having followed along with annual increases in tuition rates at two percent above inflation for more than 25 years,” adds Snyder, “many schools have found themselves in a tuition trap in which they cannot find a market for their programs. I think the number one thing (holding back a rebound) is the high price so I don’t see how a recession is going to have a great effect. Schools have to stop raising the price.”

It’s not all bad news, of course. “The positive side of the news is that this is causing us to do some really interesting new product development,” adds Ainslie. “The online market is really maturing and there are some excellent offerings out there. Master’s programs in business are slowly moving from a product solely for international students to domestic students. We are seeing the demise of the MBA but we are still getting a lot of students in different degree programs.”

Follow me on Twitter or LinkedIn. Check out my website.

I’m the editor-in-chief of Poets and Quants, the most read and most popular provider of information on business programs in the world. Our main website, PoetsandQuants.com, has been visited by nearly 100 million people and is updated daily with a wealth of admission and career statistics, school profiles, breaking news and long-form features on programs, students, faculty and alumni. Earlier in my career, I was editor-in-chief of Fast Company and executive editor of Business Week.

Source: It’s Official: The MBA Degree Is In Crisis

#Sunstone #Eduversity is an academic institution that aims at creating industry ready professionals with our unique pedagogy and technology enabled education delivery. We partner with existing colleges who have a well-equipped infrastructure to run and manage an AICTE approved, PGDM program by leveraging the use of modern – day technology and thus ensuring that the students are provided with the highest level of education quality across all our campuses. All our students are imparted with the desired skill sets that are in sync with the corporate environment and given practical training on various corporate domains that exist in an organization

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Using Text To Speech Technology To Assist Dyslexic Students

Davis Graham wanted to participate. His teachers could not understand why he was so resistant to learning. He almost completely gave up on his education. Mr. Graham, a life-long dyslexia advocate, has dyslexia and he was not alone. Eighty percent of children who have a learning disability are also impacted by dyslexia. This is a staggering number of students.

With technology we can tackle some of the challenges facing these students. Even changing how we view these differences.

I asked a friend of mine, Tony Wright, who has two children with dyslexia, what he would change in the world of education. He said we need a change in perception because, “In a perfect world, my children’s learning differences would be accepted as differences, not disabilities. Their peers would understand that they think differently. That they are not inferior. Also, they would be able to be accommodated without disruption to their day. Of course, they have a father who loves reading. I want my kids to enjoy reading. In a perfect world, my kids would be just able to be normal kids and given the chance to excel and succeed in whatever their talent is. I think that’s what most parents want as well.”

With increased early screening we could identify more children who struggle with dyslexia. Early screening could provide a pathway to learning with Text to Speech technology (TTS) and could even lead to a decrease in our total IEP costs. TTS in schools creates an excellent opportunity for a huge impact in schools with very limited budgets.

With regard to how we view reading and writing in education, Mr. Graham points out, “It’s a crossroads. [We should] say look, you can dictate it with speech to text or you can consume it by text to speech or the reading acceleration program.”

The point is the challenges caused by dyslexia in reading and writing can be alleviated. Cost savings for IEPs would be realized in both the short and long-term. Providing students access to TTS technology is the most efficient solution in solving reading challenges that dyslexic students face. In the long-run, districts will see improved comprehension and less frustrating outbursts from students. Very often we see a decrease in the need for assistance from teachers and better test scores often follow. All of these elements combined lead to a positive net impact on students, teachers and schools with limited budgets.

“In the Education delivery system, text to speech will level the hurdles of the printed word in any language, providing a level playing field for all students,” says Mr. Graham.

Despite being severely dyslexic, Mr. Graham went on to receive his Master of Science in Health and Medical Informatics from Brandeis University. When he was diagnosed with dyslexia in the late 60’s, his road to achieving educational success was a long, winding path. With support from many educators along the way, he became passionate about providing access to various content for those who also suffer with dyslexia. Mr. Graham found Bookshare, an ebook library, and began listening to volumes of books converted from a written format to an audio format. This is a life changing experience for someone willing to learn, but who lacks the ability to just sit down and read. Enter the mobile age and the explosion of access to content for those with dyslexia, and we begin to see innovative solutions in solving learning disabilities.

Along with internet access and either a mobile device or tablet, any student with dyslexia can access TTS technology. TTS is not new, but it is dramatically improved over the years.

The increase in processing speed and decrease in costs over time, has allowed for dramatic improvements to TTS technology. Now with programs like Dragon Dictate or Google’s Dictation.io, students can speak into a microphone, or use a dictation feature to “write” papers or take tests.

The problem goes beyond just improving grades

Research by Jean Cheng Gorman, Psy.D., a licensed psychologist who studied youth suicides in 1998, found a staggering 50% of students who unfortunately end their lives have a learning disability, and 40% suffer from dyslexia. There is yet to be a research study showing TTS technology having a causal impact on decreasing suicide. However, helping alleviate barriers to knowledge, while decreasing frustration with learning, will have a positive impact on all student’s lives.

Beyond cost savings, the significance in learning to each student is tremendous. As a child, I personally was slow to read, but I don’t remember when I suddenly “learned” how to read. The act of reading is so automatic for most people, that it is hard for most people to imagine what it would be like to lack the ability to read. Providing solutions to these problems can help make some students feel empowered to learn again. TTS can change the lives of those students who need help with managing dyslexia.

 

Jabez LeBret is Chief of Schools at Sisu Academy, the first tuition-free private boarding high school in California. Cofounder of two companies he is also a regular Millennial Management speaker.

Jabez is embarking on a mission to change the lives of local high school students by opening the first tuition-free boarding high school with a self-funding model in Cal…

Source: Using Text To Speech Technology To Assist Dyslexic Students

How To Calculate Your College Education Return On Investment

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With all the talk about changes to student loan repayment plans, popular student loan forgiveness programs potentially ending, and now limits on student loan borrowing, it’s essential that you fully understand what your college return on investment (ROI) is.

Going to college is an investment – just like buying stocks or investing in real estate. You are spending money (tuition, room, board, and more) with the goal of earning more money in the future – due to better paying jobs and opportunities.

And this has shown to be true for the last several decades according to the National Center for Education Statistics. Adults who complete a bachelors degree, on average, earn 57% more than those who are high school graduates. That’s a significant boost in earnings. But, if you spend too much to achieve it, it might not be worth it.

The Basic Math Of College Return On Investment

When you’re 17 or 18 years old, thinking about your lifetime return on investment of your college expenses is challenging. When you’re that age, it’s hard to even plan what classes to take, let alone your college major, future career, the implications of borrowing money to pay for school.

Luckily, we live in an era where there is more data than ever to help us make decisions.

To think about your return on investment, you want to look at what you spend – the cost of tuition, room, board, and more, and then compare it to what you have the potential to earn.

The Social Security Administration has some aggregate data on earnings that’s useful here. Controlling for various socio-demographic variables, men with bachelor’s degrees would earn $655,000 more in median lifetime earnings than high school graduates and women with a bachelor’s degrees would earn $450,000 more in median lifetime earnings than high school graduates.

Here’s the more interesting part – let’s take that lifetime earnings potential and discount it for the present day value. Applying a 4 percent annual real discount rate, the net present lifetime value at age 20 of a bachelor’s degree relative to a high school diploma is $260,000 for men and $180,000 for women. For those with a graduate degree, it is $400,000 for men and $310,000 for women.

So, adjusting for nothing else (such as career choice), men should never spend more than $260,000 for a bachelors degree, and women should never spend more than $180,000 for a bachelors degree.

The Advanced Math Of College ROI

Now that we have the basics, you can take some of that same math and apply it to your situation and see if you’re getting a potentially positive ROI or a negative ROI on your education costs.

You can look at your school’s cost of attendance (COA), which can typically be found on their financial aid webpage. Using that data, you can see the cost to attend four or five years.

Then, look at what you’d expect to earn over your lifetime. This can be a challenge, but tools like Glassdoor (which show salaries in various industries and jobs) or even government websites like Transparent California, where you can view ever Californian Public Worker’s salary. Using that data, you can see what you’d expect to make throughout your career, and add up your earning potential.

Once you do the math, you can see how the cost of your education stacks up for ROI.

Easy Rules Of Thumb To Remember

Doing the math can be challenging, but there are also some simple rules to remember when calculating your ROI.

First, while it may not seem like it, you can adjust your variables. You can attend a less expensive college (or do a path like community college first, then a state school). You can also earn more after graduation. Look at not just a career but adding in a side hustle as well. Maybe you are really passionate about a certain career, even though it doesn’t pay very well. You can still have a positive ROI, but you’ll earn that ROI with other jobs.

Second, borrowing to pay for school is expensive. It is a drag on your ROI due to the interest that will be accruing on your loans. And easy way to keep your ROI in balance with student loans is to never borrow more than you expect to earn in your first year after graduation. This is very career dependent, but it highlights how you can borrow more if you plan on going into a higher paying industry.

Finally, this math only includes high school versus bachelor degree. However, the same logic can apply to trade school or graduate school. You just need to get data around what you expect to make after graduation versus the cost of your education program.

There’s More Than Money When Going To College

Some will argue that there is more than a money ROI when it comes to higher education. And I’d be remiss to ignore that because it’s true. There is more to higher education than dollars in, dollars out.

Going to college has a variety of secondary benefits, such as a student moving out from home and learning how to handle communication, problem solving, and more. These real world skills are tough to put a monetary value on.

But, on the flip side, college is an expensive way to find yourself. While moving out of the house and having new experiences can be a very positive thing, it can easily become a future regret if the burden of student loans and poor financial choices weighs on you for a large portion of your life.

And my challenge would be, are there other ways to get these experiences while trying to build a positive ROI on education spending? My answer is yes.

Final Thoughts

Thinking about the ROI of your education spending can be a challenge. But it’s a must for every high schooler and parent.

Robert Farrington founded The College Investor, a personal finance website dedicated to helping people get out of student loan debt and start investing as early as possible.

I’m a personal finance expert that focuses on helping millennials get out of student loan debt and start investing for their future. I also help parents make smart choi…

Source: How To Calculate Your College Education Return On Investment

Top 18 Virtual Reality Apps That Are Changing How Kids Learn

Technology progress influences the way kids learn, and it’s constantly changing. Internet, smartphones, and apps have connected people globally without caring about the distance. Within seconds you can communicate with anybody anywhere. Virtual reality has taken it a step further. Now it’s possible to visit these faraway places or go back in time without moving an inch. Technology, like virtual reality apps, has brought the real world into the classroom and once again, changing how kids learn…….

Source: Top 18 Virtual Reality Apps That Are Changing How Kids Learn

How Powerful Use of Technology Can Increase Student Engagement – Digital Promise

Rather than taking a traditional multiple choice test at the end of their unit on weather, sixth grade students at Gilbert Middle School in South Carolina created their own live weather reports—complete with green screens and fake snow. Down the hall, seventh graders used digital tools to design memes based on quotes from a novel in their English/language arts class……..

Source: How Powerful Use of Technology Can Increase Student Engagement – Digital Promise

How Business Can Make An Exponential Difference In The Lives Of Students – Lisa Dughi

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We know how much of a difference one person can make in another’s life. But what if your goals are loftier than reaching just one person? What if you want to make a difference in the lives of a hundred, a thousand, or more? There are millions of young people across this country that need access to opportunity so that they can have successful futures after high school. What if you could play a pivotal role in providing that access? That’s the challenge NAF is working to solve. With over 100,000 students enrolled in NAF academies in underserved high schools across the country, reaching these students wouldn’t be possible without our business partners…………..

Read more: https://www.forbes.com/sites/gradsoflife/2018/11/13/how-business-can-make-an-exponential-difference-in-the-lives-of-students/#33d522411227

 

 

 

 

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Why Singapore Is So Good At English – Isabella Steger

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Singapore keeps getting better at English. The city-state made the top three of an annual ranking in English proficiency conducted by English education company EF Education First (EF), the highest-ever ranking for an Asian nation. Though Singapore has for years ranked near the top of the list, this year, it leapfrogged Norway and Denmark to place behind Sweden and the Netherlands. Minh Tran, the Hong Kong-based co-author of the report who frequently consults on English education for foreign companies……..

Read more: https://qz.com/1441113/why-singapore-is-so-good-at-english/

 

 

 

 

 

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Empathy Technologies Like VR, AR & Social Media Can Transform Education – Jennifer Carolan

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In The Better Angels of Our Nature, Harvard psychologist Steven Pinker makes the case for reading as a “technology for perspective-taking” that has the capacity to not only evoke people’s empathy but also expand it. “The power of literacy,” as he argues “get[s] people in the habit of straying from their parochial vantage points” while “creating a hothouse for new ideas about moral values and the social order……..

Read more: https://techcrunch.com/2018/04/22/empathy-technologies-like-vr-ar-and-social-media-can-transform-education/?_scpsug=crawled,5589,en_-08GtGMBhGHHyg2UGQFp

 

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you

 

This Company Could Be Your Next Teacher: Coursera Plots A Massive Future For Online Education – Susan Adams

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Sitting in a fluorescently lit conference room dressed in a pressed gray work shirt, jeans and gray suede sneakers, Jeff Maggioncalda, the tightly wound 49-year-old CEO of Coursera, doesn’t touch his plate of plain spaghetti, edamame and artichoke hearts from the company cafeteria. By the end of our hour-and-a-half lunch meeting, he is still talking nonstop…….

Read more: https://www.forbes.com/sites/susanadams/2018/10/16/this-company-could-be-your-next-teacher-coursera-plots-a-massive-future-for-online-education/

 

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you

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