Overnight Programs

Other Programs

Three Years at Night

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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

schools

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

$115,000.

The more expensive programs include some room and board charges and

meet every other weekend, on Fridays and Saturdays, with an overnight

stay required.

When Penn State’s Smeal College of Business launches its first

executive

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

international

travel.

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

snacks,

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.

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Overnight Programs

The Penn State Smeal Executive MBA program will start next fall

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

University

of Rochester, Purdue, the University of Chicago, and in Bern,

Switzerland.

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

institutes.

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

applicable

on the job." Students will work with faculty members on a

strategic

audit of the firm and also do strategy development for the most

critical

challenges identified.

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

prefers

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."

Faculty

members join the students for the overnight stay, and even a student

who lives close by must participate. They love it, says Sheehan:

"I

never found a person who wanted to go home on Friday night."

LaSalle University launched its technology-focused

Executive

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

complete

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

students.

The first year’s schedule includes statistics, financial and

managerial

accounting, management and leadership, IT operational information

systems, and business economics. Later courses include financial

markets,

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

technologies.

The University of Pennsylvania’s Wharton School also uses

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.

Tuition at another overnight program, Villanova’s College

of Commerce and Finance is $70,000 (610-519-6443). The average

student is 36 years old and earns $130,000 a year. Application

deadline

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

experience.’

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Other Programs

St. Joseph’s Haub School of Business offers two executive

MBA options that alternate between Fridays and Saturdays

(610-660-1692,

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

in-residence

session every semester plus an international travel week in the

spring.

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

deadline)

and last year approximately 74 percent of applicants were accepted.

Maximum class size is 30, and there are 50 students in the two

classes,

with the average age 35. Fourteen percent are from the nonprofit

sector,

11 percent have advanced degrees, and three percent are titled

president,

CEO, or chairman.

An open house will be held on Saturday, April 20 for the

Rutgers

Executive MBA program in the Graduate School of Management in

Newark

(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

Cambridge

University, costs $4,000 and is optional now but will soon be

mandatory.

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

strategy,

and debt instruments.

Though most executive MBA programs require work experience, usually

five years, the Rutgers program requires 10 years of experience.

Nearly

half of the students (48 percent) had their program paid for by their

employers, and their after-degree salaries rose by 11.7 percent.

Tuition for the executive MBA program at Temple University’s

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.

At Drexel University’s Lebow School of Business , tuition

for the executive MBA program is $45,000 (215-895-2115,

www.drexel.edu).

Students may choose from an online, evening, or weekend schedule.

The Fairleigh Dickinson University Silberman College of

Business Administration offers two executive MBA programs in Teaneck

(201-692-2000, www.fdu.edu). A two-year 48-credit basic

"management

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

sessions

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

evenings.

Stevens Institute of Technology (201-216-5074) offers

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

semester.

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.

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Three Years at Night

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,

Rutgers/Camden,

Rowan University, Ramapo College, Rider University, the New Jersey

Institute of Technology, Monmouth University, and Georgian Court

College

all offer this option.

Rider University’s part-time evening MBA costs $520 per

credit hour (609-896-5036, www.rider.edu). Most students taking

evening

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.

New Jersey Institute of Technology School of Management’s

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/

Rutgers University School of Business at Camden

(856-225-6452,

www.camden-sbc.rutgers.edu) costs $428.75 per credit for state

residents,

$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.

Rowan University College of Business in Glassboro

(856-256-4024,

www.rowan.edu/mba) costs $295 and $472 per credit hour for state

residents

and non-residents respectively. Overall program tuition is about

$11,000

for residents and about $17,000 for non residents.

Seton Hall University ‘s Stillman School of Business in

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

nursing.

Georgian Court University in Lakewood (732-364-2200,

extension

660, www.georgian.edu) costs $340 per credit or $22,050 for the

program.

Monmouth University in West Long Branch (732-571-3434,

www.monmouth.edu) costs $523 per credit. Up to 18 credits can be

waived.

Programs include the general MBA, accounting, and healthcare, and

each requires a different number of credits, from 30 to 54.

Ramapo College in Mahway (201-684-7080, www.ramapo.edu)

charges $329 per credit hour for residents, $372 for non-residents.

It is known for its cooperative education program.


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