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This article was prepared for the April 10, 2002 edition of
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The Executive Look in MBA Programs
In these tough economic times, many of the jobless have
decided to go back to school full time. Applications to graduate
have zoomed. Also in these tough times, those wanting to keep
their jobs might also choose to go to back to school, but part-time,
on nights and weekends.
An alternative to such catch-as-catch can classes are the executive
MBA programs. In the Philadelphia and New Jersey area, they usually
take two years to complete and cost a total of from $50,000 to
The more expensive programs include some room and board charges and
meet every other weekend, on Fridays and Saturdays, with an overnight
When Penn State’s Smeal College of Business launches its first
MBA program on Philadelphia’s Main Line next fall, it will use this
schedule. Other programs schedule classes every Friday, or alternate
Fridays and Saturdays. Most programs require at least a week of
Classes are small, and students generally move together through the
program — so they have a bonding experience. An important part
of many traditional full-time MBA programs are the assignments to
be completed as a team, and to be able to work with the same people
in your class would be an advantage. Because entrance requirements
are strict — most require the students to have regular jobs and
have from five to ten years of business experience — students
are as likely to learn from their peers as from their professor.
If the cost seems expensive, consider that many students in these
executive MBA programs are sponsored by their employers. That is one
reason why all the costs — residential weeks, all meals and
trips, books, materials, and even parking fees — are bundled into
the tuition package.
Some might consider it a disadvantage that many executive MBA programs
require everyone to take the basic core courses, such as accounting,
marketing, finance, and management. They have little or no opportunity
to specialize in one area. But other programs offer a choice during
the second year.
at the Gregg Conference Center in Bryn Mawr, the Main Line suburb
of Philadelphia (814-863-8512, www.psuemba.org). An open house was
held in Princeton last week, and another reception is scheduled for
Tuesday, April 30, at 6:30 p.m. in the Pyramid Club in Philadelphia
at 17th and Market streets. Graham Spanier, the university president,
and Judy Olian, dean of the Smeal College of Business, will attend.
Another open house will be at the site where the class takes place,
the Gregg Conference Center, which is part of American College, on
Thursday, May 2, at 6 p.m.
Cost: $75,000 for the two-year program. Dennis Sheehan teaches finance
at the Penn State’s State College campus and is the contact person.
A graduate of Georgetown, Class of ’73, with a PhD from the University
of California at Berkeley, he has been on the faculty at the
of Rochester, Purdue, the University of Chicago, and in Bern,
Smeal’s State College professors will teach in the 22-month program.
With the third largest undergraduate business program in the country,
Smeal has seven academic departments and 10 research centers and
In addition to traditional subject areas — marketing, management,
finance, real estate, accounting and information systems — it
offers courses in such areas as converging economies, supply chain
management, E-business, and entrepreneurship.
For the companies that sponsor their employees, the payback will be
substantial, says Sheehan. "The students will learn skills and
gain insights from world thought leaders that are immediately
on the job." Students will work with faculty members on a
audit of the firm and also do strategy development for the most
Sponsoring companies will also benefit from the retention of their
best talent and better succession planning, says Sheehan. "Not
only does the company gain a more energized and motivated employee,
but it also receives the opportunity to network with other leading
firms participating in the program."
Sheehan has taught under each of the possible schedules and much
the two-day overnight. "With one day a week, it feels like a job
— you go nine to five and you don’t quite get the feeling of being
in a campus setting. The residential component clearly adds $15,000
to $20,000 to the cost, but the students get more involved."
members join the students for the overnight stay, and even a student
who lives close by must participate. They love it, says Sheehan:
never found a person who wanted to go home on Friday night."
MBA program for medical, science, and technology professionals two
years ago. Applicants must have a degree in engineering, computer
science, or the natural sciences plus seven years work experience
with at least five years of that in management. Housed at the Bucks
County campus in Newtown, Pennsylvania, the 20-month program meets
alternating Fridays and Saturdays in Newtown. The cost for the
48-credit program is $48,000, including books, meals, an orientation
weekend at Princeton’s Doral Forrestal, the 12-day seminar in Europe
— and a Pentium-class laptop (215-951-5113, www.lasalle.edu/emba).
To emphasize the team approach, the five-semester program is planned
in the "lock-step" style, with a cohort group of 24-28
The first year’s schedule includes statistics, financial and
accounting, management and leadership, IT operational information
systems, and business economics. Later courses include financial
marketing management, financial performance (control and measurement),
financial statement analysis, competing in a global market, operations
and supply chain management, E-business, and evaluating emerging
the overnight program and requires its students to stay on campus
(215-898-3430, www.wharton.upenn.edu/mba). One of the most selective
business schools, it accepted only 25 percent of applicants in 2001.
If the $114,900 tuition seems expensive, consider that the average
salary of a Wharton EMBA student is $174,000, with the range from
$53,000 to $4 million. Average increase in salary at the end of the
program is 33.5 percent. Tuition includes the ground expenses for
a week’s international study, but students pay their own airfare.
of Commerce and Finance is $70,000 (610-519-6443). The average
student is 36 years old and earns $130,000 a year. Application
is May 15 and school begins in mid August. Classes are held every
other weekend, from Friday at 9 a.m. to Saturday at 3:30 p.m., and
students are required to stay on campus overnight. In the spring of
the first year, students have a weeklong "international
MBA options that alternate between Fridays and Saturdays
www.sju.edu/emba). A one-year, 30-credit weekend program is for those
who already have an undergraduate business degree; it costs $31,500
and starts May 2. A 21-month, 48-credit, five-semester weekend program
is $41,500 and starts August 26. This price includes tuition, meals
(breakfast, lunch, snack), books, parking, and costs of an
session every semester plus an international travel week in the
Each classroom in Mandeville Hall, at 54th Street and City Avenue
in Philadelphia, offers Internet access at every seat. Classes are
videotaped so students can review material they missed. All students
take the same classes.
Students are admitted on "rolling" basis (no particular
and last year approximately 74 percent of applicants were accepted.
Maximum class size is 30, and there are 50 students in the two
with the average age 35. Fourteen percent are from the nonprofit
11 percent have advanced degrees, and three percent are titled
CEO, or chairman.
Executive MBA program in the Graduate School of Management in
(973-353-5015, www.emba.rutgers.edu). Application deadline is June
5. Classes meet all day on alternate Fridays and Saturdays at the
school’s Newark campus. Tuition for the 20-month program is $53,724
for New Jersey residents and $63,896 for non-residents and is all
inclusive, including meals and one in-residence per semester at the
AT&T Learning Center in Basking Ridge. "All they do is show up,
and we hand them for everything," says the program administrator.
Each class has about 50 people. Sixty-two percent of 2001 applicants
were accepted for the program, and 60 percent of them already hold
advanced degrees, while 90 percent of applicants live within 45 miles.
This June the first-year students will go for 12 days to England,
Poland, and Germany. This trip, conducted in association with
University, costs $4,000 and is optional now but will soon be
Students vote on the electives to be offered in the second year. This
year’s second year curriculum offers international trade, advanced
financial management, entrepreneurship, investment analysis, corporate
marketing/product innovation, managerial E-commerce, marketing
and debt instruments.
Though most executive MBA programs require work experience, usually
five years, the Rutgers program requires 10 years of experience.
half of the students (48 percent) had their program paid for by their
employers, and their after-degree salaries rose by 11.7 percent.
Fox School of Business and Management is $43,000. Classes are held
one day a week, on alternate Fridays and Saturdays (215-204-4335,
www.sbm.temple.edu/emba). The application deadline was April
1. Eighty-two percent of applicants are accepted, and their average
age is 37. Eighty-eight percent of students live within 45 miles of
the school. Twelve percent are from organizations with fewer than
100 employees, and 25 percent are titled president, CEO, or chairman.
There are approximately 30 students in each class, and they progress
as a group through the entire program. At orientation, each student
is assigned to a regional team that remains intact throughout the
program, meeting in person, or exchanging information via phone, fax,
E-mail, or groupware.
for the executive MBA program is $45,000 (215-895-2115,
Students may choose from an online, evening, or weekend schedule.
Business Administration offers two executive MBA programs in Teaneck
(201-692-2000, www.fdu.edu). A two-year 48-credit basic
MBA for executives" program is for those with at least seven years
of management level experience.
The application deadline is August 15 for the fall semester, and
meet on Fridays or Saturdays. An MBA for health systems executives
requires five years of management experience. Both cost $42,750 and
include everything, including a two-week seminar at Wroxton College
in England. FDU has other master’s degrees, including an unusual MBA
in pharmaceutical and chemical studies that can be taken in the
an Executive Masters of Technology Management at two locations —
Piscataway and Morristown. Classes run Monday or Tuesday, 3:30 to
9 p.m. The program runs six semesters and costs about $7,000 per
There is no residential component, but two Saturdays per semester
are spent on campus. Five years management experience is required.
There is rolling admissions, but May applications are preferred.
In addition to executive MBA programs, many area schools
offer part-time MBA programs. Among the most popular options is a
three-year, part-time, evening schedule. Seton Hall University,
Rowan University, Ramapo College, Rider University, the New Jersey
Institute of Technology, Monmouth University, and Georgian Court
all offer this option.
credit hour (609-896-5036, www.rider.edu). Most students taking
and weekend courses complete the MBA in three years. Concentrations
are available in finance, marketing, global business, healthcare,
and management. About 450 students are studying part-time, and about
50 are going full time.
MBA program in Newark costs $434 per credit for state residents, $597
per credit for everyone else. That amounts to an overall fee of about
$16,000 for residents, $22,600 for non-residents, plus $1,500 for
other fees (973-596-3300, www.management.njit.edu/
www.camden-sbc.rutgers.edu) costs $428.75 per credit for state
$640.75 for out of state. MBA tracks include international business,
E-commerce, finance, management, and marketing. A joint degree program
with the law school offers an MBA/JD. Most students here take classes
part-time, and classes are also offered in Atlantic County.
www.rowan.edu/mba) costs $295 and $472 per credit hour for state
and non-residents respectively. Overall program tuition is about
for residents and about $17,000 for non residents.
South Orange (973-761-9262, www.business.shu.edu) charges
$646 per credit for part-time MBA courses. Master’s degrees are also
available in law, international studies, health administration, and
660, www.georgian.edu) costs $340 per credit or $22,050 for the
www.monmouth.edu) costs $523 per credit. Up to 18 credits can be
Programs include the general MBA, accounting, and healthcare, and
each requires a different number of credits, from 30 to 54.
charges $329 per credit hour for residents, $372 for non-residents.
It is known for its cooperative education program.
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