College of Business

Florida Institute of Technology, College of Business History

Florida Institute of Technology, founded in 1958, is a private, coeducational institution. The 130-acre campus is located in an urban area 60 miles southeast of Orlando. Total undergraduate and graduate enrollment is 4741.

The College of Business was founded in 1960 and is located on the main campus, in its own building. Courses also are offered at Spaceport Education Center at Kennedy Space Center and Patrick Air Force Base (MBA). The basic educational approach is to prepare students for the excitement of both the international community and high technology. An environment is provided that nurtures learning, exploration, ethical leadership, and hands-on experiences that prepare graduates for a variety of business careers.

Florida Institute of Technology, College of Business Academics

The College of Business offers the Master of Business Administration (MBA). Other programs include work-study and internship programs. The strongest area of study and the most popular course is business administration. Regular programs bring distinguished speakers and visiting professors to campus. The Distinguished Lecture Series, presented twice a year, is designed to enhance communication between successful executives and students interested in the management practices of public and private enterprises.

Thirty-six total credits are required to complete the MBA, including 9 elective credits. Required courses include:

• Managerial Accounting
• Organizational Behavior
• Statistical Methods for Business
• Managerial Economics
• Financial Management
• Management Information Systems
• Production and Operations Management
• Marketing Management
• Strategic Management

Business students may take relevant nonbusiness courses in other departments. The maximum time permitted to complete the master’s degree program attending full or part time is 7 years.

There are 17 total full-time graduate business faculty, all of whom hold a doctorate; there are 12 part-time faculty, of whom 42% hold a doctorate. Faculty salaries are rated well below average for Category I institutions, based on the AAUP rating system. Average number of credit hours faculty teach is 15; average business class size is 12.

Florida Institute of Technology, College of Business Unique Programs

Library

The university’s main library houses a collection of more than 419,274 volumes, 315,905 microform items, and 3938 audio/video tapes/CDs, and subscribes to 17,167 periodicals. The business library is particularly strong in company and industry information, stock and bond data, government business information, and journal literature database and indexes. Students have access to such databases and networks as ABI/INFORM and NewsStand via ProQuest, CCH Internet Research Network, CCH Internet Tax Research Network, STAT-USA, Edgar, Hoover, OCLC, several multidisciplinary journal article databases. Mergent, financial reports, Emerald database, Wilson Web, and Thomson Gale. Other opportunities for research consist of Evaluated Business Internet sites and Print Reference sources.

Computers

Graduate business students must have their own PCs.The College of Business has a teaching computer lab with 24 computers available. The computers are Dell GX260 with Intel Pentium 4, 2.0 GHz, 256 MB RAM. Software is business related: Business Explorer, Crystal Ball, FARS, Gimp 2, Gretl, GTK + Runtime Environment, IDEA, Irfanview, Dreamweaver MX 2004, Microsoft Office 2003, and others.

Career and Job Placement

In spring 2006, 21 companies recruited on campus. Sixty percent were national corporations. Average starting salary of the graduating class was $45,000; range was $25,000 to $70,000. The percentage of graduates finding jobs were:

• military agencies 30%
• national corporations 20%
• regional corporations 20%
• local large enterprises 15%
• local small enterprises 15%

Placement services are extensive. Placement services for alumni include the same as those for students except on-campus interviewing. Placement is available through the institute’s placement office. Ninety-six percent of the most recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL. They also must submit a translation of their transcripts, proof of health consisting of a medical health report, and proof of adequate funds. Check with the school for current application deadlines.

Calendar

The school operates on a traditional semester basis. Semesters are 15 weeks long; summer sessions, 12 weeks. Graduate programs are offered during the day and evening.

Florida Institute of Technology, College of Business Admissions

A bachelor’s degree is required, along with a GPA of 3.0 and a GMAT score of 425. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT, or minimum 950. Most important admissions factors are difficulty of undergraduate major, academic accomplishments and ability, and GMAT results. A strong mathematics background is required.

The number of applicants for the 2006-2007 class was 58; 37 were accepted; 15 enrolled. The average GPA was 3.0. Transfers are accepted.

Students may begin the MBA program in the fall, spring, and summer. To apply, students must submit an application form, a transcript, GMAT scores, and a nonrefundable application fee of $50. The application deadline is open for fall entry. Students are notified on a rolling basis of the admissions decision. The latest acceptable test date for fall entry is June. Once accepted, students may defer admission for up to 2 years from date of acceptance.

Florida Institute of Technology, College of Business Financial Aid

In a recent year, about 29% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships, for a total average of $11,617 annually; maximum $18,500. The FAFSA is required. The application deadlines are July 1 for fall entry; December 1, spring; April 1, summer.

Tuition for all students is $900 per credit. On-campus room and board costs approximately $7400; books and supplies, $2200; personal expenses, $4000; and other fees, $50. Graduate student housing is available on a very limited basis.

Florida Institute of Technology, College of Business Students

Twenty-three percent of the current graduate business school class are enrolled full time. The greatest percentage of students are from Florida (72%). Thirty-four percent are women, 8% are minorities, and 12% are foreign nationals. The average age at entrance is 30; ages range from 21 to 53. Ten percent enter directly from undergraduate school. About 5% of entering students leave by the end of the first year due to academic or personal reasons; 90% remain to receive their degree. In 2006, 16 graduate business degrees were awarded.