Report: Business schools updating their programs

Business schools updating their programs, report says

In response to students' demand for flexibility and quality, many business schools are revising their curricula to provide skills that are most relevant in today's economy, according to new research.

The report was released by The MBA Roundtable, a non-profit organization focused on academic business programs' design and innovation, which says an estimated 70 percent of MBA programs made revisions recently, resulting in more applied content to provide students with hands-on instruction.

In addition, as many as 25 percent of programs have introduced an industry specialization such as healthcare or biotech, and some institutions have added interdisciplinary content.

Rodney Alsup, the organization's president, explains the results show MBA programs are making a serious effort to innovate and change to boost their relevance to students and employers alike.

These types of modifications are likely to appeal especially strongly to working adults who plan to return to school. Such individuals, juggling multiple personal and professional responsibilities, tend to be more interested in focused and flexible programs of study than younger college students.

Online business degrees are also a good option for such candidates, as they offer lower tuition rates than traditional schools.

According to PayScale.com, a research company, average salaries for holders of MBA degrees ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.