The inaugural CentreCourt conference at The Times Center in Manhattan on May 20, 2017, saw Deans from top business schools addressing more than 300 potential MBA applicants on a wide range of issues from the return on investment (ROI) to changes in the pattern of business education and challenges and opportunities presented by technology advancements.
While the Deans’ panel was in agreement that the MBA offers the best return on investment among advanced degrees, it was felt that tuition was considerably expensive.
Cornell SC Johnson College of Business, in a blog entry, quoted Dean Edward “Ted” Snyder of the Yale School of Management as saying that the value of the MBA remained extremely strong.
He also allayed fears of technology progress and increasing automation posing a threat.“You are not going to be replaced by robots,” he added.
Johnson Dean Mark Nelson, said while he was at Cornell 27 years ago, classes and lectures were rather static. In comparison, he termed today’s learning environment as “engaging.”
Eric Johnson, the dean of the Owen Graduate School of Management at Vanderbilt University, described how the impact of technology and online classes will continue to grow.
“What’s going on is very relevant, very impactful. An MBA program is challenging, but it’s also an amazing experience. Nine out of every 10 graduates say they’re happy they enrolled in MBA programs,” he added.
The conference was sponsored by the media outlet Poets & Quants. John Byrne, founder & CEO of C-Change Media, which owns Poets & Quants, pointed out that while the MBA is not cheap, there is a tremendous amount of scholarship support. The true value of the degree occurs over time, he added.
Judy Olian, dean of the Anderson School of Management at the University of California, Los Angeles, explained that among advanced degrees, the MBA offers the lowest debt-to-return ratio. A medical degree offers the worst ratio, she said. Total costs to enrol in any of the nation’s top business colleges average more than $120,000 for tuition alone.
However, it has to be considered as a “lifetime return.” MBA students need to make sure they know what it takes to be a team member. “They’re going to experience the most current thinking in technology and analytics,” she added.
Nelson agreed that applicants should look for the best fit, visit campuses and “think about the trajectory it would put you on.”
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The deans felt that the technology boom, importance of networking and demand for entrepreneurs was changing. It was also strengthening the MBA programs.
Eric Johnson, the dean of the Owen Graduate School of Management at Vanderbilt University, described how the impact of technology and online classes will continue to grow.
Cornell Tech’s new $2 billion technology campus opening this fall on New York City’s Roosevelt Island will build upon entrepreneurship and collaboration among students pursuing advanced degrees in business, law and engineering, Nelson said. Apart from the new space, he also promised “a tremendously exciting curriculum that’s under way.” (Image Source:pexels.com)
