Jump to content

Coming Soon: The Theranos Of Higher Education


TwiceHorn

Recommended Posts

https://www.forbes.com/sites/ryancraig/2018/09/20/coming-soon-the-theranos-of-higher-education/#2dd1f5123db5

Some interesting factoids in this about declining enrollment at "non-competitive" colleges and MBA programs, as well as fraud at both.

Quote

Business schools are under revenue pressure as never before. MBA programs have been shuttered at University of Iowa, Wake Forest, and Virginia Tech. Applications for 2018 were down 27.7% at Rice, 19.6% at UT-Austin, 18.3% at UNC Chapel Hill, and 16.2% at Georgetown. Business schools have been the font of much innovation in higher education: case studies, executive education, and online programs to name a few. As the value of the MBA bundle plummets relative to faster + cheaper alternatives, and as revenue pressure mounts, watch for other business schools to “innovate” like Temple.

 

Quote

Colleges under revenue pressure may feel desperate enough to engage in similar deception. Witness the eight colleges caught submitting false data to U.S. News for the 2017 rankings. The eight colleges – Austin Peay State, Dakota Wesleyan, Drury University, Hampton University, Oklahoma City, Randolph College, Saint Louis University, and Saint Martin’s University – are exactly the non-selective schools already under significant revenue pressure. Keep in mind, these are only the colleges that submitted false data that moved them up meaningfully in the rankings. And, of course, these are only the colleges that U.S. News caught. Perhaps the biggest scandal is that the punishment doesn’t come close to fitting the crime. Because U.S. News waited until the end of August to announce the fraud, these eight schools were listed as “unranked” for 14 whole days, then given a clean sheet in the newly posted 2018 rankings.

 

  • Like 1
Link to comment
Share on other sites

Part of it is that Gen Z is fairly pragmatic when it comes to money.  They saw the millenials get stuck that student loan millstones around their necks.  They're not going to middle tier expensive schools and majoring in nonsense.  They're going to get a job.

MBA's are also fairly diluted and this point and they don't really teach much.

  • Like 1
Link to comment
Share on other sites

I would say that technical / science masters are still worth the money if you’re STEM inclined. Pretty funny though when I went to my engineering MS graduation ceremony I was one of like five people out of 800 or so with a Caucasian background the rest were Indian or Asian (mostly Chinese). This was at USC Los Angeles. 

Edited by Johnny Chimpo
Link to comment
Share on other sites

1 hour ago, Johnny Chimpo said:

I would say that technical / science masters are still worth the money if you’re STEM inclined. Pretty funny though when I went to my engineering MS graduation ceremony I was one of like five people out of 800 or so with a Caucasian background the rest were Indian or Asian (mostly Chinese). This was at USC Los Angeles. 

Asian girls everywhere.  Soso I've heard.

  • Like 6
  • Haha 1
Link to comment
Share on other sites

3 hours ago, Parliament said:

Good call on Gen Z.  And have a read some employers are relaxing their requirements of having a college degree?  

Depends on the job. A lot of them go with what I call the "Mack Brown Depth Chart" for job requirements. College degree OR 5+ years experience in the field (how you get the experience without a degree I don't know). I work in finance and pretty much all the worthwhile jobs still require degrees. I imagine in the tech field or sales fields it's different. 

Link to comment
Share on other sites

9 hours ago, BrickHorn said:

Have these failing MBA programs considered refocusing on their core competencies in order to leverage paradigm-shifting synergies in the emerging information economy?

Let me reach out to my counterparts with your ask, and circle back.  We need to think out of the box.

  • Like 1
Link to comment
Share on other sites

11 hours ago, Johnny Chimpo said:

I would say that technical / science masters are still worth the money if you’re STEM inclined. Pretty funny though when I went to my engineering MS graduation ceremony I was one of like five people out of 800 or so with a Caucasian background the rest were Indian or Asian (mostly Chinese). This was at USC Los Angeles. 

As a hiring manager, I saw hundreds of Chinese and Indian resumes with an undergrad from some place I had never heard of in their home country, but a master's degree from a US university I had heard of.  This is a common path into the US.  Most of those with US BS degrees go get a job after undergrad ... but those outside the country have to come get an advanced degree, then start working the visa system to get a path to stay here.

I could open a requisition on a Friday and have 80 foreign born fresh MS applicants by Monday, no matter what the posted job qualifications required.

  • Like 1
Link to comment
Share on other sites

12 hours ago, Johnny Chimpo said:

I would say that technical / science masters are still worth the money if you’re STEM inclined. Pretty funny though when I went to my engineering MS graduation ceremony I was one of like five people out of 800 or so with a Caucasian background the rest were Indian or Asian (mostly Chinese). This was at USC Los Angeles. 

ah - their new campus, USCLA

  • Haha 1
Link to comment
Share on other sites

Quote
id:

Have these failing MBA programs considered refocusing on their core competencies in order to leverage paradigm-shifting synergies in the emerging information economy?

 said:Have these failing MBA programs considered refocusing on their core competencies in order to leverage paradigm-shifting synergies in the emerging information economy?

business.jpg

Edited by J.R. Juniors Junior Jr.
  • Like 2
Link to comment
Share on other sites

7 hours ago, XYZ said:

So, hmm, anyway, what IS the theranos of higher education?

The Theranos of higher ed would have to be the InfiniLaw chain of for-profit law schools that had low admissions standards, low bar passage rates, and unreal debt loads by many students.  Also, the ITT Tech-type schools that seemingly rely on the least savvy students just to stay in business.

Link to comment
Share on other sites

University of Phoenix type stuff.

 

Also, it's no surprise enrollment/applications are dropping. It has nothing to do with the "theory" that gen z is more pragmatic about education spending, etc. The economy is doing well and there are plenty of job openings. Applications to MBA programs increase when the economy is in the shitter and people who have been laid off are looking to lay low for a couple of years, etc. and/or there aren't many job openings (these conditions often go hand-in-hand).

 

This isn't new.

 

 

Link to comment
Share on other sites

2 hours ago, KaiserSoze said:

University of Phoenix type stuff.

 

Also, it's no surprise enrollment/applications are dropping. It has nothing to do with the "theory" that gen z is more pragmatic about education spending, etc. 

 

Yeah that theory is giving today’s youth WAY too much credit 

Link to comment
Share on other sites

On 9/21/2018 at 1:42 PM, Incredulity said:

Lets put a pin in that, step back and look at it from the 30,000ft perspective and develop a holistic approach to seamless, plug and play, integration.

Yea, let's not try to boil the ocean here...we need to stay in our swim lanes and fortify our core competencies. 

Link to comment
Share on other sites

On ‎9‎/‎21‎/‎2018 at 10:37 PM, KaiserSoze said:

University of Phoenix type stuff.

 

Also, it's no surprise enrollment/applications are dropping. It has nothing to do with the "theory" that gen z is more pragmatic about education spending, etc. The economy is doing well and there are plenty of job openings. Applications to MBA programs increase when the economy is in the shitter and people who have been laid off are looking to lay low for a couple of years, etc. and/or there aren't many job openings (these conditions often go hand-in-hand).

 

This isn't new.

 

 

The other thing that's happening is that more students are getting MS degrees in business fields instead of MBAs.  

More people already have BBAs; MBAs are redundant to these people.  

Link to comment
Share on other sites

When I was half-way through engineering school, I decided that after graduating I wanted to get a masters degree in engineering. My parents tried to persuade me to get an MBA instead. I’m glad I didn’t listen to them.


You would probably be making more money now if you listened to them. Your job would probably be worthless, but you’d be better paid.
Link to comment
Share on other sites

On 9/25/2018 at 8:45 PM, luke duke said:

 


You would probably be making more money now if you listened to them. Your job would probably be worthless, but you’d be better paid.

 

In 2016 I was considering getting an mba to make a career change. Except I realized I already was making what the average Stanford grad does. Now in 2018 I’m making approximately double that. BS mech E MS petroleum E. 

Link to comment
Share on other sites

I think the issue likely extends beyond MBA programs. Like athletics, schools have been in an arms race drunk with never-ending tuition increases facilitated by Uncle Sam. The outrage over this plus the proliferation of online alternatives is make increasing competition.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...