–
A year ago, the Questrom School of Business at Boston University announced the launch of a new online MBA for just $ 24,000. The class starts in autumn with twice as many students as expected.
The Questrom School of Business at Boston University expected 200 students to launch their new online MBA. The MBA portal writes that there are now 401 students and a hundred students have already been admitted to the next start in January Poets and Quants.
There were 850 applicants for the new MBA course. 53 percent were admitted. The average age is 37 years, the average work experience is twelve years. More than one in three (34 percent) already have a master’s degree or even a doctor.
These participants were looking for a program that focused on solving business problems and that would help them learn from their fellow students, explains JP Matychak, Associate Dean for Strategic Initiatives at Questrom School. And if you don’t come to Boston for your studies and don’t have to pay a lot for your studies, that will appeal to many. So almost a third of the current class lives outside the United States. Most American online MBAs, on the other hand, have almost exclusively local students.
With its new online MBA, announced a year ago, Questrom is late in the booming online MBA market in the US, which is already home to more than 300 programs and is in high demand, while more and more schools are getting their full-time MBA to give up.
Support MBA Journal with an amount of your choice if you want to continue reading well-researched news.
—
The fastest growing in the past five years has been the Gies College of Business at the University of Illinois, where between 3,750 and 4,000 MBA students are expected to start this fall. At $ 22,000, the iMBA’s price is even slightly lower than that at Questrom School. Online MBAs from other leading US schools, on the other hand, sometimes cost more than $ 100,000.
At Questrom School, the new offering has so far not cannibalized the expensive part-time or full-time MBA. Only eight out of 800 people interested in the part-time MBA had opted for the online MBA, Questrom-Dean told Susan Fournier Poets and Quants. This confirms the theory of market segmentation: different programs attract different participants.
The full-time program is also going well. 120 students were expected, now there are already 170 and therefore plan to introduce an additional cohort.
Like all business schools, Questrom was challenged by the corona pandemic and had to switch face-to-face classes to online learning, which was particularly demanding for IT experts. In addition, there was preparation for the new online MBA with the creation of a completely designed curriculum.
So the new online MBA six 14-week modules over a period of two years. The first three modules deal with the basic subjects, the remaining three modules with the development of new business opportunities. Each module ends with a Capstone project, in which the students have to apply what they have learned. In each module, three professors from different disciplines teach in an integrated approach.
In the Financial Times ranking of the best full-time MBAs, the Questrom School of Business 2020 ranked 67th worldwide. In 2018, Bloomberg Businessweek ranked it 50th among the best US schools.
