Tuesday 15 September 2015

Champion ship

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This is the first year Princeton Review has ranked online MBA programs. The motivation, says the company’s director of content development David Soto, is that the number of schools offering online MBAs is growing rapidly, from 68 schools in 2008 to 90 in 2012. As the online option becomes more accepted, greater numbers of students are taking advantage of the ability to keep working and earning while they study, and to avoid uprooting themselves to go to school far from home. “Students are reluctant to give up two years of salary to go to school,” says Soto, “and you can go to a great school, even a school across the world in Madrid. The online option is leveling the playing field for students who want flexibility.” The No. 3 school on Princeton Review’s list is IE University in Spain, which charges $58,320 for an online degree. The mean base salary for IE graduates is $113,800. When Princeton Review asked students how they chose an online school, reputation was the top criterion. Then came convenience and in third place, field of study. I would have thought that cost would matter more, but it was the last item on students’ lists. Still, the cost savings at some schools is substantial. At Auburn University in Auburn, AL, an online MBA costs just $27,900, compared to an on-campus degree, which is $65,500. Some other interesting statistics: 47% of the 2,000 online MBA students surveyed by Princeton Review were “career changers.” Some 42% of students surveyed at the top 25 schools said their employers were helping pay for their degree at an average of 61% of the degree cost. Also 44% of students said they got a promotion while earning their online MBA and their average base salary increase on completing the degree was 25%. After Kenan-Flagler and ahead of IE University is the No. 2 school, Indiana University-Bloomington’s Kelley School of Business, which graduates students with a mean starting salary of $107,400. Kelley ranks at No. 19 on the Forbes list.
this is understandable, given the value of the connections students make with professors who have links to startup funding streams and established businesses, and the invaluable connections students make with other students who can become future business partners (and alumni donors). Example: Hayley Barna and Katia Beauchamp, Harvard business school chums and founders of successful five-year-old beauty subscription service Birchbox, which has raised more than $60 million in venture capital. But Soto says 11 of the top 25 online schools require students to take part in at least one face-to-face immersion experience, and many of the online classes include real-time interactions like live chats. At UNC Chapel Hill, for instance, students must do two immersions. They can pick between international destinations like Mumbai where they attend three days of lectures with professors and business people, or San Francisco, where they can study either innovation and entrepreneurial thinking or data analytics and decision-making. But a brief immersion is obviously not the same as spending two years on campus with fellow students and professors. Still, for an increasing number of people who want business degrees but also want to hold onto their jobs and take advantage of their employers’ willingness to pay a share of tuition, while staying put in their communities, an online program is a compelling option. Princeton Review based its ranking onsurveys it conducted during the 2014 academic year of students and administrators. It only looked at MBAs that offer at least 75% of their program of study online. It asked students about everything from their satisfaction with professors to the technology platform. Of the administration, it asked about topics ranging from admissions selectivity to the number of faculty members that have dedicated office hours for online MBA students. For the complete methodology The Princeton Review developed the surveys with the assistance of an advisory board formed for this project in 2014. Advisory board members included faculty and administrators at top institutions offering online MBA programs. The survey for school administrators, which evaluated more than 30 fields, covers admissions selectivity, graduation and retention rates, faculty training and credentials, technological infrastructure, student indebtedness, and career outcomes among other items. The survey for students, which also evaluates more than 30 unique fields, allows students to rate their faculty, their fellow students, career preparation, academics, the technology platform, and overall satisfaction with their programs. Student Survey fields include: Program expectations Business school is meeting my academic expectations. How positive of an impact do you believe obtaining your degree from this program will have on your career in the immediate future? How positive of an impact do you believe obtaining your degree from this program will have on your career in the long term? Fellow Students Your business school classmates: Contribute to an intellectually challenging atmosphere. Help fellow students. Are the type of people you want to network with after graduation. Academics My program has done a good job of enhancing my skills in the following areas. operations teamwork communication/interpersonal skills presentation skills quantitative skills software skills How would you rate the depth and breadth of classes available through your program? Administration How well is your program run? Faculty Overall, how good are your professors as teachers? How engaging are your professors in their lectures and associated offerings? How well do your professors utilize the online platform? How accessible are your professors? Program Technology How would you rate the technology/platform of your coursework? Please rate how your school helps facilitate interaction with your fellow classmates in live online classes How well does your school help facilitate interaction with your fellow classmates outside of the classroom? Please rate the quality of the tools your school uses in the online environment (Videos, asynchronous content, feedback tools) In cases where there is a technology issue, how would you rate the speed and efficiency with which the school resolves the problem? Immersion Programs If you have participated, how would you rate the quality of your experience with the immersion programs? Career Services Please rate the effectiveness and counsel of career services office. How invested do you feel your school is in advancing your career and life goals? How effective are the resources that have been put into place to help you achieve your career and life goals? Overall Satisfaction Overall how satisfied are you with your decision to enroll in your program? Do you feel that you will graduate within the prescribed range of time for your program, without incurring any added expenses? Are you satisfied with the efforts of the administration to ensure you complete the program in your target time? Alumni have been helpful in my job search/career advancement? How likely is it that you would recommend your program to a friend or colleague?

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