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MBA Program

Academics

The MBA Program offers the Master of Business Administration (MBA), Master of Accounting Science (MAS), Master of Science in Management Information Systems (MSMIS), and Master of Science in Taxation (MST). The strongest areas of study are finance, marketing, management information systems, and international business. The most popular courses are electives in finance and marketing and strategic management. Regular programs bring distinguished speakers and visiting professors to campus. An Executive-in-Residence program brings corporate leaders into the classroom. An MBA Colloquium Executive Lecture Series is held each semester at the Hoffman Estates, Naperville, and Rockford campuses.

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

  • Financial Accounting Concepts
  • Fundamentals of Financial Management
  • Legal Aspects of Business
  • Principles of Management
  • Graduate Survey of Marketing
  • Survey of Business Economics
  • Principles of Operations Management
  • Business Information Systems
  • Business Statistics
  • Managerial Accounting Concepts
  • Financial Analysis
  • Organizational Behavior
  • Strategic Management and Policy
  • Marketing Management
  • Operations Analysis
  • Management of Information Systems Technology

Required courses for the MAS include:

  • Phase One:
  • Financial Accounting Concepts
  • Survey of Business Economics
  • Fundamentals of Financial Management
  • Principles of Management
  • Legal Aspects of Business
  • Graduate Survey of Marketing
  • Principles of Operations Management
  • Business Information Systems
  • Business Statistics
  • Phase Two:
  • Advanced Taxation
  • Corporate Taxation
  • Financial Statement Auditing
  • Accounting Research
  • Professional Tax Research

Required courses for the MSMIS include:

  • Financial Accounting Concepts
  • Fundamentals of Financial Management
  • Legal Aspects of Business
  • Principles of Management
  • Graduate Survey of Marketing
  • Survey of Business Economics
  • Principels of Operations Management
  • Business Information Systems
  • Business Statistics
  • Business Computing Environments
  • Business Systems Analysis and Design
  • Business Applications of Database Management Systems
  • Business Telecommunications
  • Technologies and Applications of Electronic Business
  • Information Technology Project Management
  • Strategic Information Systems

Students may eliminate or substitute requirements by proficency exam or undergraduate business degree for Phase One requirements.

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 1 year; maximum, 2 years. For students attending part time, the minimum is 2 years; maximum, 6 consecutive years.

There are 88 total full-time graduate business faculty, of whom 70% hold a doctorate; there are 31 part-time faculty. 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 9; average business class size is 25.

Admissions

A bachelor’s degree is required, along with a GPA of 2.75 and a GMAT score of 450. Most important admissions factors are GMAT results, academic accomplishments and ability, and work experience. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 343; 303 were accepted; 238 enrolled. The average GPA was 3.21; average GMAT score was 520. 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, 2 letters of recommendation, a resume, and a goals statement. The application deadlines are July 15 for fall entry; December 15, spring; June 1, summer. Students are notified of the admissions decision in writing within 4 weeks of receipt of the application and of by phone within 2 weeks of the decision. The latest acceptable test date for fall entry is June 15. Once accepted, students may defer admission for up to 2 years.

Financial Aid

Stipends and programs available for minority students include fellowships and other awards. The FAFSA and the school’s own financial statement are required. Check with the school for current application deadlines.

Tuition for in-state residents is $480 per credit. Nonresidents pay $695 per credit. Books and supplies cost approximately $500, for an estimated annual total of $7895 for in-state residents and $11,275 for out-of-state residents. Graduate student housing includes several floors in dormitories for students age 21 or older, as well as university family apartments. There is a referral service to help procure off-campus housing.

Students

Seventeen percent of the current graduate business school class are enrolled full time; 95% have had an average of 8 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 (99%). Thirty-seven percent are women, 18% are minorities, and 6% are foreign nationals. The average age at entrance is 30; ages range from 21 to 59. Five percent enter directly from undergraduate school; 7% already have a graduate degree. Students’ undergraduate majors were as follows: 50%, business; 21%, engineering; 8%, social sciences; 6%, economics; 5%, liberal arts; and 4%, math and science. In 2006, 305 graduate business degrees were awarded.

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