Fri. Dec 3rd, 2021

Business schools flourished during the pandemic with two-thirds reporting higher incomes in the 2020/21 academic year than in the previous 12 months and less than a fifth reporting a decline.

About four out of ten of the 50 deans surveyed by the Chartered Association of Business Schools for a survey ahead of its annual conference on Monday said revenue had risen significantly in 2020/21.

Despite the disruption caused by the coronavirus pandemic, 78 percent of respondents reported stable or increased research income at their business school in 2020/21.

The financial success of these institutions is in clear contrast to the broader university sector, which has warned against financial problems caused by the additional cost of teaching through the pandemic with online classes.

Business schools have been more successful than other areas of the academy, partly because of the higher fees their students pay – London Business School charges £ 92,735 for its MBA program – and partly because they do not require expensive teaching equipment like other disciplines, such as medicine or engineering.

About 70 percent of the schools covered by the CABS survey reported an increase in applications converted into enrollments, showing a strong commitment among business students to complete a degree course.

The success of the business schools will have a positive effect on those universities that have created such institutions, as many have done in recent years, with 82 per cent of schools represented in the CABS survey accounting for more than half of their net income contribute to a parent. university.

“There’s a strong correlation between a healthy business school and a healthy parenting university,” said CABS chairman Robert MacIntosh.

Three-quarters of the schools in the CABS survey recorded a lower number of new enrollments of EU undergraduate and postgraduate students. However, these declines have been more than offset by increases in numbers from the UK and other countries outside the EU.

53 per cent of the business schools that responded reported slightly or significantly higher enrollments of UK citizens in 2020/21, up to 59 per cent for students applying for undergraduate courses.

The performance was even stronger for non-EU international students taking postgraduate courses, with 71 per cent of the schools surveyed reporting an increased conversion rate compared to last year, including 43 per cent who had a significantly higher increase .

The need to expand provision has increased the need for investment in online technology to teach more distance learning and increase teaching staff numbers, according to MacIntosh, who as well as his role at CABS Faculty Providence Chancellor for the Faculty of Business and Law at Northumbria University.

“Several of the larger schools are recruiting staff and they are finding it more difficult to recruit and retain international staff with issues surrounding visas and the paperwork that results from them,” MacIntosh said.

“Increased revenue needs to be balanced against the increased costs because, as we know, there is no such thing as a free lunch.”

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *