New MBA program
Guarantees business grads a job during economic recession
By: Sarah Bleau
Issue date: 12/3/08 Section: News
The Tennessee jobless rate is at its highest point in 21 years and a new Masters of Business Administration at The University of Memphis Fogelman College of Business and Economics could help lessen stress about finding a job.
In fall 2009, the school will debut the nation's only Customer-Driven MBA where Memphis-based corporate partners, such as Medtronic and Smith & Nephew, will sponsor students at The University, guaranteeing graduates a job in an already deprived economy.
"It is a bold, inventive new concept of MBA programs," said Gregory Boller, the director of MBA programs. "The idea here is we are combining companies' recruiting needs with the educational needs of the potential employee."
The Customer-Driven MBA is a four-semester program where students will follow a specific track geared toward a sponsoring corporation's desires. During that time, students will have an internship for the first year, working on company related problems while they attend classes unique to the business they work for.
While some MBA programs at The University are being trimmed, the Customer-Driven MBA has been in the plans for a few years and has been "very much a team effort" with sponsoring companies, Boller said.
Students will have their tuition fully paid for by the company, but it isn't the only benefit corporate sponsors provide students.
"If they're a good fit in that company, then the company is essentially hiring them two years out by guaranteeing them a job after completing the program. It's a terrific arrangement," Boller said.
More than 120 students have applied for the program so far, and Boller expects a total of 200 by the Jan. 5 deadline. But, Boller warns, only 80 students will be selected, with just over one-fourth receiving company-specific training during their two years at The U of M.
Senior financial economics major Rhamy Alejeal, who was officially accepted into the program last week, was drawn to the program because of its guaranteed-employment incentive. Being hired into a company two years early may not be appealing to every student because some may think "perhaps there may be a better salary out there in two years," Alejeal said. He feels more comfortable securing a job in the present.
In fall 2009, the school will debut the nation's only Customer-Driven MBA where Memphis-based corporate partners, such as Medtronic and Smith & Nephew, will sponsor students at The University, guaranteeing graduates a job in an already deprived economy.
"It is a bold, inventive new concept of MBA programs," said Gregory Boller, the director of MBA programs. "The idea here is we are combining companies' recruiting needs with the educational needs of the potential employee."
The Customer-Driven MBA is a four-semester program where students will follow a specific track geared toward a sponsoring corporation's desires. During that time, students will have an internship for the first year, working on company related problems while they attend classes unique to the business they work for.
While some MBA programs at The University are being trimmed, the Customer-Driven MBA has been in the plans for a few years and has been "very much a team effort" with sponsoring companies, Boller said.
Students will have their tuition fully paid for by the company, but it isn't the only benefit corporate sponsors provide students.
"If they're a good fit in that company, then the company is essentially hiring them two years out by guaranteeing them a job after completing the program. It's a terrific arrangement," Boller said.
More than 120 students have applied for the program so far, and Boller expects a total of 200 by the Jan. 5 deadline. But, Boller warns, only 80 students will be selected, with just over one-fourth receiving company-specific training during their two years at The U of M.
Senior financial economics major Rhamy Alejeal, who was officially accepted into the program last week, was drawn to the program because of its guaranteed-employment incentive. Being hired into a company two years early may not be appealing to every student because some may think "perhaps there may be a better salary out there in two years," Alejeal said. He feels more comfortable securing a job in the present.