Krannert putting residential MBA program on pause
WEST LAFAYETTE, Ind. (Inside INdiana Business) — The dean of the Krannert School of Management at Purdue University has announced plans to pause its two-year residential MBA program, beginning in the fall of 2021. David Hummels says the school will use the move to examine the long-term feasibility of the program, the changing post-pandemic market demand, and “consider a radical reshaping of the degree.”
In a letter to students, faculty and staff, Hummels said applications and admissions for full-time MBA programs are steadily declining nationwide due to a greater demand for international or online programs. At Krannert, applications have dropped 70% since 2009.
“At the same time, increased competition for applicants, particularly domestic students, has resulted in escalating financial commitments for marketing, assistantships and scholarships,” said Hummels. “We now spend considerably more to recruit a class than we generate in tuition revenue from that class. That is simply not sustainable, particularly in light of significant financial adjustments that are necessary in the wake of the COVID pandemic.”
Hummels says Krannert has seen increased demand for other degree programs, many of which are online.
As students return to campus this fall for their first or second years, Hummels says the decision was not made lightly.
“We are honoring all outstanding offers of admission and aid, and are committing to our returning second- year students and our incoming class that your experience will not be affected by this decision. You will receive the same world-class teaching and experiential opportunities you anticipated and expected when you enrolled in the program.”
Meanwhile, the school says it will begin offering two new online master’s degree options in January 2021.
The Master in Human Resource Management and Master in Global Supply Chain Management each will be offered in seven-week segments, with students taking one or two classes at a time. Both programs are taught by the same faculty who teach similar residential programs.
“These offerings will serve the large and rapidly growing market of working professionals who do not wish to leave their jobs and relocate to West Lafayette to further their education, and will enable Krannert to be resilient in the face of the pandemic,” said Hummels.
The online HRM program features a core of human resources content in areas such as talent acquisition, compensation and rewards. The university says the program is ideal for people looking to make the switch from a non-HR position to an HR career, as well as HR professionals looking to strengthen their credentials or military members seeking to transition to civilian life.
The online GSCM program offers a core in courses ranging from strategic sourcing and procurement to logistics concepts and models. The program is targeted for professionals seeking to advance their careers through supply chain management knowledge, skills and abilities.
Both programs will include career support services and a success coach to provide study skill and time management development.