The Kellstadt Graduate School of Business offers the Master of Business Administration (MBA), Master of Accountancy (MAcc), Master of Science in Taxation (MST), Master of Science in Accountancy (MSA), Master of Science in Business Information Technology (MSBIT), Master of Science in Marketing Analysis (MSMA), Master of Science in Finance (MSF), Master of Science in Computational Finance (MSCF), Master of Science in E-Business (MSEB), Master of Science in Human Resources (MSHR), and Master of Science in Real Estate (MSRE) as well as joint degrees in law (MBA/JD) and management information systems (MBA/MIS). The strongest areas of study are accounting, finance, and marketing. Regular programs bring distinguished speakers and visiting professors to campus, including exchange programs with overseas universities.
Seventy-two total credits are required to complete the MBA. Required courses include:
- Applied Quantitative Analysis
- Financial Accounting
- Managing Effective and Ethical Organizational Behavior
- Operations Management
- Business Conditions Analysis
- Management Accounting
- Economics for Decision Makers
- Financial Management
- Human Resources
- Management of Information Technology
- Marketing Management
Students may eliminate or substitute requirements through prior course work.
Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time is 15 months; maximum, 6 years. For students attending part time, the minimum is 18 months; maximum, 6 years.
There are 137 total full-time graduate business faculty, of whom 87% hold a doctorate; there are 200 part-time faculty. Faculty salaries are rated average for Category I institutions, based on the AAUP rating system. Average number of courses faculty teach is 6; average business class size is 29.
A bachelor’s degree is required, along with a GPA of 2.0. The formula for using the GPA and GMAT scores is (GPA x 200) + GMAT. Most important admissions factors are academic accomplishments and ability, work experience, and GMAT results. A strong mathematics background is required.
The number of applicants for the 2006-2007 class was 750; 628 were accepted; 367 enrolled. The average GPA was 3.15. Transfers are accepted. Minority students are actively recruited by attending the Minority MBA Forum.
Students may begin the MBA program in the fall, winter, spring, and summer. To apply, students must submit an application form, a transcript, GMAT scores, a nonrefundable application fee of $60, 2 letters of recommendation, and essays. The application deadlines are July 1 for fall entry; October 1, winter; February 1, spring; April 1, summer. Students are notified on a rolling basis of the admissions decision. The latest acceptable test date for fall entry is July 1. Once accepted, students may defer admission for up to 1 year.
About 26% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total maximum of $18,500. The FAFSA is required. The application deadline is March 1 for fall entry.
Tuition for all students is $710 per credit. On-campus room and board costs approximately $11,000; personal expenses, $12,000; and other fees, $17,190, for an estimated annual total of $40,190. Graduate student housing includes 1-, 2-, or 4-bedroom units. There is a referral service to help procure off-campus housing.
Three percent of the current graduate business school class are enrolled full time; 97% have had an average of 5 years of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Illinois (82%). Thirty-eight percent are women, 15% are minorities, and 9% are foreign nationals. The average age at entrance is 28; ages range from 21 to 43. Nine percent enter directly from undergraduate school; 5% already have a graduate degree. Students’ undergraduate majors were as follows: 40%, business; 11%, engineering; 6%, liberal arts; 5%, economics; 3%, math and science; and 1%, social sciences. About 15% of entering students leave by the end of the first year due to academic or personal reasons; 80% remain to receive their degree. In 2006, 788 graduate business degrees were awarded.