MBA college students collect within the Grotto of Our Girl of Lourdes on the campus of Notre Dame. Picture by Peter Ringenberg Images
It’s robust occasions for one-year MBA applications. For the second time in a yr, a U.S. enterprise faculty with a premier one-year MBA has introduced it can shutter this system — regardless of potential college students saying for the primary time ever this yr that they like the format to two-year MBAs.
Notre Dame Mendoza School of Enterprise introduced at this time (October 9) that regardless of this system’s continued monetary viability, the college will finish its one-year MBA on the finish of the present faculty yr. The present class of Mendoza’s one-year MBA, which graduates in 2024, would be the final.
The transfer means better assets shall be devoted to the college’s two-year MBA program, Mendoza Dean Martijn Cremers says.
“Whereas the one-year MBA traditionally has attracted proficient and devoted college students and stays financially viable, the choice to discontinue this system displays the school’s concentrate on the two-year MBA as our precedence and was knowledgeable by the continued strategic assessment geared toward optimizing and elevating Mendoza’s graduate program portfolio,” Cremers says.
ANOTHER 1-YEAR MBA PROGRAM RECENTLY KILLED: CORNELL’S ACCELERATED PROGRAM
Martijn Cremers, dean of Mendoza School of Enterprise: One-year MBA college students are “perpetually necessary members of the Notre Dame household”
Notre Dame’s announcement comes nearly precisely one yr after one other high enterprise faculty introduced the shuttering of its premier one-year MBA. In October 2022, Cornell Johnson Graduate College of Administration introduced the tip of its Accelerated MBA program, a transfer that B-school made to dedicate extra assets to a different one-year MBA, the Tech MBA primarily based on Cornell’s Roosevelt Island campus in New York Metropolis. The ultimate class of Cornell’s Accelerated MBA graduated in spring 2023.
Cornell’s closure of a significant program was “intestine verify time,” Andrew Karolyi, dean of Cornell’s School of Enterprise, advised Poets&Quants final October. “We’ve had some great college students come by means of the Accelerated program and have gone on to have the ability to leverage it for very profitable careers. It’s great assembly them alongside the best way. However we’ve by no means felt that we have been capable of drive arduous sufficient with that given its mission because it was crafted. We by no means felt we have been capable of meet our bold targets for it.”
Cornell’s Accelerated and Tech MBA applications and Notre Dame’s program all shared spots on P&Q‘s checklist of the highest one-year MBA applications. Different faculties with widespread one-year MBAs embrace Northwestern Kellogg College of Administration, Duke Fuqua College of Enterprise, and Emory Goizueta Enterprise College. NYU Stern has two one-year MBA applications: the Tech MBA and the Andre Koo Style & Luxurious MBA. In a survey by the Graduate Administration Admission Council launched earlier this yr, potential MBA college students for the primary time mentioned they really desire the one-year format to the costlier two-year MBA.
NOT THE FIRST NOTRE DAME PROGRAM IN RECENT HISTORY TO GET THE AXE
In keeping with its program web site, graduates of Notre Dame Mendoza’s one-year MBA overwhelming discovered success upon completion of this system, with 96% of the Class of 2022 accepting job provides inside three months of commencement. This system was rated No. 2 for international alumni effectiveness by The Economist in 2022 and No. 5 for international alumni community by The Monetary Occasions in 2023. Tuition for the Mendoza one-year MBA was round $99K this yr; the common cohort dimension was 45 college students, with 5 years’ common work expertise.
Mendoza’s one-year MBA isn’t its first in current historical past to get the axe: The varsity additionally “sunsetted” its MBA-Grasp of Science in Enterprise Analytics program in 2022, citing a scarcity of scholar curiosity regardless of the twin diploma’s STEM (science, expertise, engineering and math) designation.
Ending the one-year MBA “will permit the school to raise the two-year MBA as its core strategic precedence, offering better flexibility in directing the suitable assets to developments in experiential studying, management growth, profession discernment and private progress over this system’s two-year arc,” the college says in a information launch. Cremers provides that discontinuing this system can have no impression on the educational expertise of present college students; Notre Dame provides 10 grasp’s applications plus a number of dual-degree applications, two Ph.D. applications, and its undergraduate program.
“The Mendoza college and workers stay totally dedicated to the private {and professional} progress of our One-12 months MBAs, now and after they graduate,” Cremers says. “They’re perpetually necessary members of the Notre Dame household.”
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