Analytics has been seen as an integral part of MBA programs for many years now – a critical investment for business schools as many companies in a growing number of industries want to hire people with data skills, even when these skills would be secondary to their roles. .
Now, a new survey shows that while analysis has been a key part of overhauls of MBA programs over the past five (and 10) years, B schools with overhaul plans for the half-decade to come see no reason to deviate from orthodoxy – that analytics is the future.
The MBA Roundtable, a non-profit organization focused on curriculum innovation in higher management education, released its biannual report this month on the curricula of more than 100 schools around the world. Among the many findings, for the 61% of schools that are planning curriculum updates over the next five years, the focus will be on both core curriculum and electives on analysis.
10-YEAR CURRICULAR CYCLES ARE THE STANDARD
Report of the MBA round table, The graduate program of the business school, is the result of a biennial survey of over 300 graduate business programs from 104 business schools, who shared details of their graduate business program in 48 fields of study. studies and provided insight into the student experience. The schools surveyed serve more than 80,000 students through 6,736 full-time equivalent faculty in 809 graduate business programs.
Most of the B schools in this year’s survey – 96 – are in the United States, with American schools distributed relatively evenly across five U.S. census regions: Northeast, South Atlantic, Central -south (east and west), midwest and west. The majority (62%) of schools are public establishments and 38% are private non-profit establishments.
The main finding of the survey is that a plurality (44%) of graduate business schools undergo major changes in their study programs during 10-year cycles, while around a third (35%) undertake major changes over five-year cycles. âThe apparent focus of the 53% of programs that have undergone major changes in the past five years was on the core curriculum,â reports the MBA roundtable, âparticularly analysis, management and leadershipâ – analysis being the main focus of the 61% who expect program updates over the next half decade.
STEM: A GROWING PART OF EACH B-SCHOOL CURRICULUM
âOur biannual curriculum survey is one of our most requested surveys by our members,â said Jeff Bieganek, Executive Director of the MBA Roundtable. “As innovation in the design of graduate management programs becomes more and more important with each year, we hope that these findings will help our member schools as well as the GME industry as a whole continue to make critical change. and relevant to their programs. “
MBA Roundtable has found that MBA and Masters in Management programs offer a greater breadth of study compared to specialized Masters in Business programs, such as finance, accounting, and analysis. The three main fields of study for all types of MBA programs are Marketing, Finance, and Strategy. The other top 10 fields of study common to all types of MBA programs are accounting (both finance and management), microeconomics, and organizational behavior. The negotiations are unique to the list of the top 10 executive MBA programs. Masters in Management programs share eight of the top 10 fields of study with MBA programs. Career management and ethics are the two exceptions, which feature in the list of the top ten masters of management programs.
Among other survey findings: Overall, 16% of graduate business programs require a concentration or specialization. Another 40% of programs offer the opportunity to specialize, but do not require it. Graduate business programs offer, on average, five specializations. While finance and marketing are the two main concentrations in census regions of the United States, the third most common specialization offered in the Northeast and Midwest is business analysis. Entrepreneurship is the third most common specialization in other parts of the United States.
Overall, 35% of business graduate programs in the United States have the STEM designation for the program or concentrations. Masters in Business Analysis (96%), Masters in Finance (63%), and full-time MBA (51%) programs are more likely to have the STEM designation than other programs.
OTHER RESULTS: STUDENTS GET ENTRY TO THE CURRICULUM, BUT NO PLACE AT THE TABLE
According to the MBA Roundtable survey, decision makers in business school curricula tend to be a combination of committees of faculty (54% of schools), academic directors (47%), deans (40% ) and program directors (26%). Most business school programs get feedback from students (77%) and employers (81%), but they are not at the decision-making table.
Overall, 69% of the business school graduate program is compulsory and 31% is optional, on average. The core curriculum accounts for a much larger share of Executive MBA (93%) and Masters of Management (87%) programs than other programs, such as full-time MBA (59%) and MBA programs. master’s degree in finance (66%). The average class size for a foundation course in a graduate business program is 34 students and ranges from 29 students in a master’s degree in accounting foundation course to 44 in a full-time MBA foundation course, on average.
Most programs require a comprehensive course or project to complete the program (68%). Majority of full-time MBAs, executive MBAs, masters in management and masters in business analysis require students to engage in experiences
learning or learning by doing opportunities. Notably, 93 percent of Executive MBA programs require international experience compared to full-time MBA programs (31%), which is more than other programs.
Check out the full MBA roundtable survey results here.
DON’T MISS THE DEANS, THE FACULTY OF AGREEMENT: THE MBA ALTERNATIVES WILL CONTINUE TO GROW AND MEET THE MASTERS OF BUSINESS ANALYTICS