Students find diverse options for MBA programs in mid-Missouri

A study recently conducted by the U.S. Department of Education found that master’s degree in business administration students are the most diverse of any group of graduate students. The only thing the students held in common, the study found, was that they all had determined getting an MBA would “likely further their personal and career goals.”

MBA.com, a Web site set up by the makers of the Graduate Management Admissions Council, offers advice for choosing the right business program. In order to maximize the benefits of an MBA, a candidate should get an appropriate amount of pre-MBA education and/or work experience because, “your post-MBA employment options will depend largely on your pre-MBA exposure and experience,” the site says.

When looking for the right school, the site encourages prospective students to visit campuses and says that, “classmates are an important part of the MBA education. In fact, MBA grads say that the quality of their fellow students is an important part of their MBA experience.”

In addition to providing tips for choosing the right program, the Graduate Management Admissions Council also conducts a longitudinal survey with MBA graduates to track trends. The latest survey, conducted in April 2006 with more than 2,800 participants, reveals that 72 percent of graduates surveyed said they “definitely” made the right decision by getting an MBA. A further 22 percent said they “probably” made the right decision. Only one percent reported they “definitely” made the wrong decision.

Furthermore, the survey reports that MBA alumni work an average of 50 hours per week and make an average of $87,170 in base salary, with total compensation packages equaling $113,959.

Another area the council researches is the corporate response to MBA programs and students. In its 2006 survey of more than 1200 employers, the council found that more jobs were available for MBA graduates in 2006, and the number is expected to rise again in 2007. Additionally, the study found that MBA salaries were 4 percent higher in 2006 than 2005 and that improving conditions in the job market will allow this number to continue to grow.

Mid-Missouri alone offers six different options for an MBA program, each with its own design. Nighttime, daytime, part-time, full-time, in-class and online courses are all available in different combinations through the following programs.

University of Missouri-Columbia

Size: 204 students

Cost: $8600 (in-state, without scholarship or stipend)

The University of Missouri is one of only two MBA programs in the state ranked by U.S. News & World Report, along with Washington University in St. Louis. Program Director Michael Christy said of MU’s Crosby MBA, “we are the only nationally ranked program in the area, and that is indicative of our quality.” Classes are held during the day, which makes MU’s program primarily full-time, though part-time participation is possible. Students graduate with an MBA after completing 68 hours of courses, though many of these can be bypassed with work done during a student’s undergraduate career. Christy said it typically takes three or four semesters to complete the program, taking 12 to 15 hours per semester. The MU School of Business has a full-time department specifically for job placement. “We do well on a national scale in terms of graduates being hired straight out of school,” Christy said. On average, 100 students are accepted to the program every year.

Columbia College

Size: 345+ (about 100 on-campus in Columbia)

Cost: $270/credit on campus, $290/credit online

Columbia College offers students the opportunity to take classes at its Columbia campus, online, or a combination of the two. Classes are held in eight-week sessions, which are offered five times a year in January, March, June, August and October, said Barb Payne Peterson, director of public relations and marketing. “Our MBA program offers a balance of theory and practice,” Peterson said. “Our mission is to provide working adults with the knowledge and skills they need to enhance their performance in their present occupations or prepare them to launch their own business.”

Depending on previous academic work, the MBA program can be completed as quickly as one year. However, Peterson said, most full-time students (three credits per session) complete the MBA in two to three years. Columbia College has an extensive alumni network, and also has a career services department that helps connect graduates with contacts, jobs and internships.

William Woods

Size: 353 students

Cost: $305/credit

William Woods University offers an MBA program with classes one night a week. Although the program is large in size, it’s broken up in groups of around 20 people who have all of their classes together. Director of Business Recruitment Jenae Kirkwood says this “creates a group of cheerleaders that help and encourage each other.” Students must complete 36 hours of course work, which Kirkwood said typically takes 22 months. The program is designed for working professionals (nearly all students work full-time), and classes are taught by practicing professionals. Kirkwood said this provides practical knowledge outside of course materials, allows for networking and facilitates job placement. William Woods University also has a campus-wide career services department.

University of Central Missouri

Size: 65 students

Cost: $241/credit

Along with MU, the University of Central Missouri in Warrensburg offers the only other AACSB-accredited MBA program in Mid-Missouri. Although the program is available at night for working students, professor Paul Engelmann said that most students do not work full-time. A total of 64 hours is required for graduation, but students who enter with an undergraduate business degree can finish in 33 hours. Concentration fields are offered in marketing, finance, accounting and information systems. Job placement is facilitated by a campus-wide career services department, and Engelmann said, “employers know the quality of this program, and our best students get great jobs.”

Lincoln University

Size: 62 students

Cost: $189.04/ credit

The MBA program at Jefferson City’s Lincoln University is designed to meet the needs of as many students as possible. Classes are held at night to meet the needs of the program’s students, who all work full-time, said Linda Bickel, dean of graduate studies. Lincoln’s MBA program is accredited by the Association of Collegiate Schools and Programs and requires 36 hours for graduation. For those who want to graduate faster, Bickel said students can take nine credit hours every eight weeks to complete the program in just one year. However, Bickel said most students get their MBA, in two years. Students can get an emphasis in accounting, management, entrepreneurship and public administration. Lincoln has a career center and holds a graduate studies internship and job fair annually.

Stephens College

Size: 51 students

Cost: $315/ credit

Stephens College’s MBA offers a blended teaching format, in which students take courses online and also meet two times in the classroom during 8-week sessions, the only such program offered in mid-Missouri. Mellodie Wilson, associate director of graduate and continuing studies, said, “Our program is geared towards working adults that are not able, or don’t want to, be in a full-time day program.” After 27 core hours are completed in the program, the final nine hours are customized to integrate the MBA into the student’s area of interest. “This could be a case study, a research paper, portfolio project, internship — there are a number of ways they can design the end-product,” Wilson said. Although Stephens doesn’t have a career services component for graduate students, Wilson said the program has a strong network of alumnae.

University of Phoenix Online

Size: entire school has 300,000 students

Cost: dependent on multiple factors

The University of Phoenix Online is the largest nationally accredited university in the country. Charlie Neuman, who works at the University of Phoenix’s St. Louis school, said its MBA program offers two advantages: the convenience and flexibility of online learning, and a problem-based learning curriculum. “We look at various cases to ferret out the concepts and understanding,” Neuman said. “Whether it be economics, finance, marketing . . . we use cases as well as reading to get to the material.” Depending on undergraduate work, the program usually lasts 13 to 18 months. The University of Phoenix doesn’t have a placement program, but Nueman said all faculty work in the field in which they are teaching, which makes networking possible. An in-class MBA can also be completed in branches in Kansas City, Springfield and St. Louis.