Dear Colleagues,
I am writing to inform you of a decision we have made regarding our MBA programs. Subject to university approval, Gies College of Business will have only one format for our MBA program – our online iMBA. It is our intention to no longer deliver our MBA in the full-time and part-time residential formats once the current incoming classes graduate. Moving forward, we will invest our resources in the iMBA, our suite of rapidly growing specialized master’s programs, undergraduate education, and lifelong learning.
We did not make this decision lightly. We considered where to invest our resources and where to pull back throughout nearly 18 months of market research, review of costs, internal discussions, and an analysis of our competitive advantages as a College.
For two decades, demand has been shifting away from traditional two-year residential MBA programs and toward specialized master’s programs and, more recently, toward online programs. Overall US enrollment in full-time MBA programs is down 20% from its peak, and all programs outside of the top 15 are experiencing declining enrollment.
Our iMBA, on the other hand, has experienced tremendous growth since its launch in 2016, and it has become a game changer in the online arena. The program is the most innovative, high-value MBA on the market and one of the highest-quality MBA programs of any kind, anywhere in the world. Through the iMBA, we put our land-grant heritage into action, expanding the educational reach of our College to Illinois and the world.
Market demand is also strong and growing for our specialized master’s degrees. We will be stepping up our investments in these programs, as well as in undergraduate education and lifelong learning opportunities. Together, these will grow our markets, increase our value, and enhance the Gies brand.
We remain unwaveringly committed to providing our current and incoming students with an educational and student experience that is as good or better than ever. For our incoming students, we are extending the deadline for refunds of deposits to July 1 and offering automatic admission to the iMBA as an option – though we hope they will join us for the programs to which they were originally admitted.
At Gies College of Business, we are always thinking about and redefining our future. We dream big and we set big goals—to be the most innovative business school on the planet. To do that, we have to be bold in our decisions about where we invest our resources. I believe our direction for our MBA and specialized master’s programs will enable us to broaden our educational reach, develop purposeful business leaders, and enhance the international reputation and impact of Gies College of Business and the University of Illinois.
Sincerely,
Jeffrey R. Brown
Josef and Margot Lakonishok Professor of Business and Dean
Gies College of Business