Los Angeles Master of Business Administration programs have returned to pre-pandemic levels, a return to normalcy that has had mixed consequences for the programs, their applicants, and their students.
One recent trend reported by local MBA programs is a decline in applications from prospective domestic students.
“We’ve had an overall increase in application volume[this year]but it’s basically coming from international applicants,” said Evan Boufides, assistant dean and director of MBA admissions at the USC Marshall School of Business. “Many schools have experienced not only a drop in in-house application rates, but a subsequent drop in enrollment.”
USC’s MBA program has strengthened its ability to recruit international students remotely, which Buffaids sees as a silver lining to the virtual push the pandemic has required.
“There may be 20 or more countries represented in any class. This year we set our record and 30 home countries were represented,” he said. “We’ve got a lot of representation from parts of the world that we’ve never seen before, which is fantastic.”
This year, the USC MBA program’s incoming class brought in 190 students, 30 students less than the usual number of 220.
“(Having fewer domestic applicants) is a temporary problem, I believe. But there’s no doubt that we need to make sure that we market ourselves properly as business schools and that we’re still on the map for people considering graduate management education,” Boufides said.
Bouffides’ assessment is supported by a similar decline in domestic applications to Pepperdine University’s MBA program.
Dr. Arman Davtyan, Assistant Dean for Enrollment Management at Pepperdine Graziadio Business School, said, “During the second half of the Covid-19 pandemic, demand for full-time or part-time MBA programs has decreased for domestic students only.
The dynamics of covid
At the height of the epidemic, Davtyan said, there are more reasons to follow MBN.
“Students were really looking for a way out of the crisis,” he said. They were less confident about their professional prospects and general anxiety caused many people to enroll in business programs.
Free time was a big factor for students pursuing an MBA during the semester when the pandemic slowed down or disrupted efficiency in business sectors and leisure activities. Moreover, universities have given prospective students more reason to apply for MBAs by extending admissions rounds and lowering or eliminating standardized test requirements.
According to business education news outlet Poets and Quants, application volume has increased by an average of about 23 percent among most top schools around the time the pandemic began.
Nearly two years later, according to Mark Brostoff, USC Marshall’s assistant dean and director of MBA career services, students are primarily using the in-person instruction.
USC ranks No. 2 on the Business Journal’s list of MBA programs (see page 22).
USC’s full-time MBA, a two-year program, costs a total of about $138,000. Students are automatically screened for merit-based scholarship opportunities, including work experience, academic history, test scores and interviews.
Pepperdine MBA
Key elements of the Pepperdine MBA program are practical learning, experienced faculty and ethics, Davtyan said.
The average class size is 26, due to the program’s emphasis on close collaboration between students and teachers.
“We want students to go to class at night, learn something, and turn around the next morning and apply it in their workplace,” Devthyan said.
Some Pepperdine faculty members are experienced professionals who do consulting work or run companies in addition to their positions with the university. According to Davtyan, these faculty members incorporate the principles established in their respective businesses into the classroom curriculum.
The university infuses its education with value systems and ethics that see students beyond just financial success. Davtyan said students engage in business based on ethical principles that are part of Pepperdine’s faith-based heritage. A full-time MBA can be completed in 12, 15 or 20 months, and costs around $100,000.
Like USC, Pepperdine offers a variety of MBAs and offers merit-based scholarships, which are becoming increasingly important in marketing the program.
Davtyan says the current promising job market makes it difficult to attract new students. He says the cost of the Pepperdine MBA is also a factor.
“I think that skilled and educated professionals are having very little trouble finding solid positions and getting good pay, so in that context, enrolling MBA students has become more competitive,” said Davtyan.
To keep pace with student demand and curriculum choices, Pepperdine’s MBA program is investigating which industries and degree types are shifting out of demand, he added. That analysis took into account the program’s new degree specializations and short certificate programs.
“Short-term, six-week or eight-week or 12-week programs, those kinds of skill-based learning opportunities are becoming more attractive to us and I think hopefully,” Davtyan said.
Pepperdine’s MBA program is ranked No. 3 on the Business Journal’s list. UCLA’s program took the top spot.
