Yet another full-time MBA program has bit the dust—at least temporarily.
The University of Missouri is now informing applicants to its MBA program that it has decided to temporarily “pause” it’s full-time MBA program at the Trulaske College of Business. Recently ranked by U.S. News & World Report as the 62nd best full-time MBA in the U.S., the program attracted a cohort of 32 students last fall from an applicant pool that was composed of only 64 candidates.
“I am writing today to let you know we have decided to temporarily pause the Crosby MBA Program and take a step back to strategically evaluate the delivery method and completion time,” according to an email written by Ryan Murray, interim director of graduate studies. “This means we will not have a Fall 2020 or Spring 2021 entering class.
‘GRADUATE BUSINESS EDUCATION HAS SHIFTED TOWARD ONLINE, SPECIALIZED & MORE FAST-TRACKED MBAS’
“Graduate business education has shifted toward online, specialized and more fast-tracked MBA programs. Over the next several months, our faculty, students, alumni and industry stakeholders will seek to reinvent and reimagine a Crosby MBA program that continues to prepare students for careers in today’s business world. Our collective goal is to begin accepting applications in spring of 2021 for an intake of a new Crosby MBA Fall 2021 class. We hope you will join us at that time.”
Missouri is the latest school to shut down its full-time MBA program. The University of Illinois at Urbana-Champaign last year announced that it was closing its full- and part-time MBA programs to focus more resources on its online MBA and specialty master’s programs. Along with the University of Iowa, it was the second top-50 U.S. school in the last four years to eliminate its residential MBA program.
They have plenty of company as applications to full-time MBA programs have been declining for several years. Wake Forest University. Virginia Tech. Simmons College, and the Thunderbird School of Global Management have all shuttered their full-time, residential MBA programs as well. And three years ago, the Wisconsin School of Business attempt to close down its MBA, a decision that was reversed due to protests from students and alumni.
‘THIS DECISION IS DISAPPOINTING’
“We understand this decision is disappointing,” added Murray in his email. “However, we feel confident a pause is necessary, and our program will emerge stronger.”
For current applicants, the school has agreed to defer admission until the fall of 2021 or to offer admission to one of three other programs, its MS in Business, or Master of Accountancy or Master of Finance online.
For the latest MBA class, the acceptance rate was 64.1%, with an average class GMAT score of 621.