The Graduate Business Studies offers the Master of Business Administration (MBA). Other programs include internships with local firms, joint research with faculty through independent study, and external graduate assistantships. The strongest areas of study are accounting, operations management, and quantitative modeling. Regular programs bring distinguished speakers and visiting professors to campus. The Executive-in-Residence program brings noted executives to the school for 2-to 3-day visits to speak to classes and to meet with students and faculty.
Thirty-three total credits are required to complete the MBA, including 9 elective credits. Required courses include:
- Quantitive Modeling
- Marketing Management
- Managerial Accounting Control
- Financial Management
- Operations Management
- Management Information Systems
- Organizational Behavior and Group Dynamics
- Administrative Policy
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 3 semesters; maximum, 6 semesters. For students attending part time, the minimum is 6 semesters; maximum, 15 semesters.
There are 23 total full-time graduate business faculty, all of whom hold a doctorate. Faculty salaries are rated average for Category IIA institutions, based on the AAUP rating system. Average number of courses faculty teach is 2; average business class size is 25.
A bachelor’s degree is required, along with a GPA of 2.75 and a GMAT score of 400. The formula for using the GPA and GMAT scores is (200 x GPA) + GMAT, or minimum 1000. Most important admissions factors are GMAT results, grades in upper-level courses, and work experience. A strong mathematics background is required.
The number of applicants for the 2006-2007 class was 92; 61 were accepted; 55 enrolled. The average GPA was 3.27; average GMAT score was 515. 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, a nonrefundable application fee of $30, and 2 letters of recommendation. The application deadlines are July 1 for fall entry; December 1, spring; April 15, summer. Students are notified as early as possible of the admissions decision. The latest acceptable test date for fall entry is early August. Once accepted, students may defer admission.
About 24% of graduate business school students receive financial aid from scholarships, loans, and graduate assistantships, for a total average of $10,250 annually. Stipends and programs available for minority students include tuition waivers. The FAFSA is required. The application deadline is February 15 for fall entry.
Tuition for in-state residents is $170 per credit, or $4590 per year. Nonresidents pay $403 per credit, or $16,771 per year. On-campus room and board costs approximately $6660; books and supplies, $262; personal expenses, $2500; and other fees, $2186, for an estimated annual total of $16,198 for in-state residents and $28,379 for out-of-state residents. Graduate student housing is available in university apartments and residence halls; abundant availability in the community.
Forty-five percent of the current graduate business school class are enrolled full time; 75% have had an average of 5 of full-time work experience prior to entering graduate school, a factor preferred by the school. The greatest percentage of students are from Illinois (88%). Forty-five percent are women, 15% are minorities, and 8% are foreign nationals. The average age at entrance is 27; ages range from 22 to 49. Twenty percent enter directly from undergraduate school; 5% already have a graduate degree. Students’ undergraduate majors were as follows: 67%, business; 54%, engineering; 6%, math and science; 6%, social sciences; and 3%, economics. About 4% of entering students leave by the end of the first year due to academic or personal reasons; 96% remain to receive their degree. In 2006, 49 graduate business degrees were awarded.