The University of Cambridge’s Judge Business School proposes to launch a four-year business doctorate pegging the fees at £80,000 in the first year and a total cost of £230,000 that would make it one of the world’s most expensive degrees.
Till now, The University of Pennsylvania’s Wharton Business School’s two-year executive MBA has been regarded as the most expensive program globally, costing $192,900 (£133,624).
Cambridge university’s official journal, The Reporter, described the proposal to award the degree, known as the Bus.D., “as consistent with Cambridge Judge Business School’s long-term strategy and with the university’s research impact objectives.
“The degree will meet an evident demand from highly placed senior executives in business, NGOs, charities, and similar organizations, who are accomplished leaders who have built or run major companies and organizations,” it said.
The B-school proposal has received the support of Cambridge University’s General Board Education Committee. It now goes before the university’s governing Regent House for final approval. Once it gets clearance, the course would be launched in October 2017.
The class composition would be limited to one or two students in a year, considering that the program is tailored to meet the requirements of very senior leaders.
Unlike the regular PhD students, those who join the new course would not have to stay full time on the campus for the entire duration except for the first year. From the second year onwards, they have to attend only four weeks of classes in a year. Since it is a marked departure from the usual doctorate norms, a new type of degree has to be established, informed sources said.
The proposal says that it is expected that the student’s total time commitment will be equivalent to the full-time Ph.D leading to a dissertation of 200 pages in “maximal length”. An oral examination will also be held where candidates are required to discuss their work.
Potential applicants will be expected to have a Master’s degree or equivalent and be willing to work towards solving a major business problem.
Unlike the regular PhD students, those who join the new course would not have to stay full time on the campus for the entire duration except for the first year. From the second year onwards, they have to attend only four weeks of classes in a year. Since it is a marked departure from the usual doctorate norms, a new type of degree has to be established.
It sought to justify the high fees saying the “intensive teaching and support services would demand substantial resources, and the programme would require an annual fee comparable to the Executive MBA. Fees for the first candidates starting in 2017-18 will therefore be £80,000 for the first year (given its strong taught element), and £50,000 for each of years 2 to 4”. Fees for Cambridge’s executive MBA programme is pegged at £63,960.
The General Board, pointing out that the new PhD program would be different from other doctoral degrees such as DBAs, has expressed the hope that this differentiation, coupled with Cambridge’s reputation, should make it attractive to the most senior leaders around the world. Market research undertaken by the Business School has also indicated that the degree is likely to attract significant interest, it stated in the proposal.
However, not all are happy. Questions are being raised by Cambridge dons, who fear that the business school’s proposal may earn “nearly a quarter million per student, going by the high fees, but could adversely affect the University. Gill Evans, emeritus professor of medieval theology at Cambridge, in her draft speech to be delivered at Regent House said, “That does not mean that a university adding to its income by having a business school should make radical changes at its request, without full understanding of the implications.
“There can be no aspect of the work of the university more important than its exercise of its degree-awarding powers and the Regent House should take any proposals to alter the rules especially seriously” she says. (Image Courtesy: commons.wikimedia.org)
