11/1/13 The local market for MBA degrees is contracting and getting more competitive, all at the same time.
Longtime market-setter Xavier University now has only 650 students overall in its program, compared to nearly 1,200 during the height of the MBA boom in the early 2000s.
XU’s executive MBA program has only 11 students this year, and the school says the curriculum is “being reviewed.”
But Xavier’s competitors keep investing more, including a new MBA program starting in January at the College of Mount St. Joseph in Delhi Township.
“It creates the opportunity for students to significantly increase their marketability as they enter the workforce,” said Jamal Rashed, the new dean of business programs at the Mount, who taught at Xavier for about 20 years.
“For English majors, that could more than double their salary after they graduate.”
The MBA’s status as a cash cow for universities around the country is getting shakier every year, as companies cut back reimbursements, other graduate degrees gain favor and new colleges get into the market.
Procter & Gamble Co., for example, narrowed its reimbursements in 2011 to 80 percent of tuition and fees, up to a lifetime cap of $40,000. Before that, P&G paid the entire tuition with no cap.
Toyota Motor Corp., with its North American manufacturing and engineering offices in Erlanger, suspended its reimbursement program during the economic downturn but now reimburses costs up to $5,000 a year.
Many smaller companies have simply eliminated those reimbursements.
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