The Impact Of Recession On EMBA Programs
Vanderbilt University’s Owen Graduate School of Management has offered a prestigious EMBA degree for working professionals for 32 years. While the program has a cap of 50 students, enrollment has gone up dramatically since the recession in late 2008. Many of the EMBA students have corporate sponsorship from the corporations who employ them, making the possibility of paying for their EMBA much greater. Tami Fassinger, associate dean for executive programs at the Owen school notices a change in this, claiming, “Compared to 34 percent who had complete corporate sponsorship a year ago, only 12 percent had full scholarship in 2009.”
Due to the concern of finding time to complete an MBA, the school changed their schedule from an alternating Friday-Saturday to one on Saturday only. Fassinger explains:
“We watched the economic stress all businesses were under starting in October 2008. We thought changing the schedule was the right thing to do: Help people do better work, but don’t make them miss work. After interviewing students and prospective students, the school discovered 90 percent of interested students wanted a Saturday-only option. “
While the economy isn’t what most people would like it to be at this present time, there is one thing to be certain of: people are going back to school with a hunger to be more qualified for the workforce than ever before. To address such a trend, business schools around the world are adapting their curriculum, schedule and career services.