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FT Business Education GIST February 2011. Objectives & Methodology. Objectives Market trends Behaviour and reasons for interest Decision making Reputation Business schools Information & Communication Methodology

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FT Business Education GIST February 2011

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FT Business Education GIST

February 2011


Objectives & Methodology

Objectives

  • Market trends

  • Behaviour and reasons for interest

  • Decision making

  • Reputation

  • Business schools

  • Information & Communication

    Methodology

    Online survey sent to relevant members of the FT Research Panel, posted on FT.com and on the FT’s Facebook page

  • 1, 215 respondents in total

  • 77% are interested in Business Education for themselves while 23% are responsible for Business Education for their company’s employees

New


Demographics

83% Male vs 17% Female

Average age 43

86% working, 11% studying, 2% looking for work


Market Trends –

Business People


86% of the FT audience have a degree-level course; 7% currently enrolled to obtain one

What is the highest qualification you have obtained up to now? Tick one

Respondents interested in Business Education for themselves (N=938)


50% increase in FT audience who are likely to undertake Business Education in future

4 in 10 last year (2009)

6 in 10 this year (2010)

Respondents interested in Business Education for themselves (N=938)


Nearly 2x “very likely” to currently undertake Business Education

Currently, how likely are you to undertake business education at a business or management school now or in future?

Respondents interested in Business Education for themselves (N=938)


61% say they are more likely to undertake Business Education in 2011

To what extent are you more or less likely to consider business education at a business or management school in 2011 than you were in 2010? Compared to 2 years ago, are you more or less likely now than you were then to consider business education at a business or management school?

2x MORE likely than in 2009

2011 vs 2010

2009 vs 2007

Respondents interested in Business Education for themselves (N=938)


Market Trends –

HR Professionals


70% of FT HR professionals are involved in Biz Ed process for employees

To what extent are you involved in the decision making process for external business education programmes for employees? Tick all

14% have a Chief Learning Officer (or similar)

Respondents interested in Business Education for employees (N=277)


7 in 10 FT HR professionals say their company is likely to provide Business Education in future (same as 2009)

Thinking about 2011, is your company more or less likely now to provide employees with business education at a business or management school than it was in 2010? Compared to 2 years ago, is your company more or less likely now to provide business education at a business or management school to employees?

Overall 46% MORE likely to than in 2009

2011 vs 2010

+38% MORE likely

2009 vs 2007

Respondents interested in Business Education for employees (N=277)


Greatest growth in those companies “very likely” to provide Business Education study

Currently, how likely is your company to contribute funding towards business education at a business or management school for employees now or in future?

Respondents interested in Business Education for employees (N=277)


Most Companies that Don’t Provide BizEd don’t Have Budget Allocation

Why does your company not contribute funding towards business education at a business or management school for employees?

Respondents interested in Business Education for employees but do not contribute towards biz ed (N=59)


Behaviour & Reasons for Interest in Business Education


Unchanged from 2009 – personal/prof development, career progression and salary increase main reasons for biz ed study

What are your reasons for undertaking/ considering business education? Tick all

New

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Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=938)


Unchanged from 2009 - new knowledge and networking are main expectations for biz ed study

What do you expect to get out of business education?

New

New

New

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=938)


“International exposure” means differences in business cultures, internships, foreign students

Which of the following do you mean by “International exposure”?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future; Those selected “International exposure” (N=265)


Most interest in MBA, then Masters, EMBA and Exec Education

Which programmes are you interested in? And which programme are you primarily interested in?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Mode of study

Which mode of study are you interested in for each programme type?

Primary programme of interest

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a Masters programme (N=106); MBA (N=218); EMBA (N=64)


For full-time MBAs; 1 or 2 year length is equally preferred

What length of study are you interested in for a full-time MBA?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a full-time MBA programme (N=125)


Finance is most preferred area of MBA study

What areas are you interested in focusing on during your MBA? Tick all

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a MBA programme (N=218)


Preference for course: EMBA vs MBA

In general, why would you prefer to do a EMBA instead of a MBA?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a EMBA programme (N=64)


Preference for EMBA over MBA by age

In general, why would you prefer to do a EMBA instead of a MBA?

Age

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a EMBA programme (N=64)


Executive Education

Which kind of Executive Education programme(s) are in interested in?

Average Cost Expectations for open EE course:

UK £37,000

CE €104,000

US $17,143

AP $7,143

Would you be willing to participate in an Executive Education course via distance learning (i.e. conducted over the Internet)?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a Exec Education course (N=68)


Executive Education

And who would contribute to the funding of an open Executive Education course?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future AND primarily interested in a Exec Education course (N=68)


US & USA still most preferred locations for Biz Ed, followed by France, Swtiz & Singapore

What are your preferred locations for business education study?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Preference by region (above 15%)

What are your preferred locations for business education study?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Intl outlook and job opportunities greater influence in location preference from 2009

Why do you prefer those regions or countries?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


38% would consider another form of training/ accreditation

Would you consider any other form of training/accreditation?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


58% have taken/ are planning to take admission requirement

Which of the following admissions requirements have you already taken or plan to take as part of your business school application?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Decision Making


Why not?

63% currently active in the Biz Ed Decision Making Process

Which best describes where you are in terms of choosing which business or management programme to attend?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Criteria for researching – largely unchanged from 2009; funding options higher up the list

What information are you looking for when researching business education options?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Criteria for choosing a business school – new additions feature highly in consideration criteria

Please indicate all you consider/would consider when choosing a business or management school.

New

New

New

New

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Criteria for choosing a business programme – cost, networking and faculty taken into consideration by more; rankings still a top criteria

Please indicate all criteria you consider/would consider when choosing a business or management programme.

New

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Reputation


EMBA & MBA more likely to consider top tier; Exec Ed and Masters more likely to not consider by tier

Would you say you are considering/would consider top, middle or other tier business schools?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Cost is main deterrent from top tier business schools

What are your main reasons for being interested in a mid/other tier business school?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future and interested in Mid or Other tier (N=193)


Business school, then programme, then University reputation most influences where to undertake Biz Ed study

Please rank the following in order of the influence of their reputation on your decision where to undertake business education

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


FT audience determines reputation through rankings, accrediting bodies, faculty, media coverage and marketing

How do you find out about the reputation of a business school or programme?

Respondents interested in Business Education for themselves AND likely to undertake Business Education in future (N=522)


Reasons, Decision Making & Reputation – HR Professionals


Programs Would Contribute Funds Towards

Which business education programmes for employees does/would your company contribute funding towards?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Reasons for Providing BizEd to Employees – talent retention more important than business understanding

Why does your company provide business education to employees?

New

New

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


What Companies Expect Employees to Gain from BizEd – networking more important this year

What does your company expect employees to get out of business education?

New

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


International Exposure means how to navigate

business cultures, interacting/networking with international peers & faculty, and coursework

You selected "international exposure" as an expectation for business education study. Which of the following do you mean by that?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Spend on Degree Programs

How much did your company spend on business education for all employees over the past 12 months? - Degree programmes

Average spend on degree programmes:

UK £129,810

CE €151,886

US $187,476

AP $256,412

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Spend on Non-Degree Programs

How much did your company spend on business education for all employees over the past 12 months? - Non-degree programmes

Average spend on non-degree programmes:

UK £113,238

CE €192,229

US $166,238

AP $384,471

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Budget Increase vs Decrease

Do you expect your company's 2011 business education budget to increase, decrease or remain the same from 2010?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


85% consider a business degree important when hiring manager level or above

How important is a graduate level business degree in the hiring process for manager or higher positions within your company?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Importance of Biz Ed Degree When Promoting

How essential are each of the following business degrees for employee career advancement within your company?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


What determines Which Employees Get BizEd

What determines which employees to invest in business education for within your company?

Respondents interested in Business Education for employees and would contribute funds towards (N=136)


Preferred mode of study

For each programme type, which mode of study does your company prefer employees to partake in?

Respondents interested in Business Education for employees and would contribute funds towards Masters (N=64); MBA (N=71); EMBA (N=44); PhD (N=23)


Preference for MBA focus of study

What area(s), if any, do you prefer employees to focus on in an MBA?

Respondents interested in Business Education for employees and would contribute funds towards MBA (N=71)


One-third Would Prefer Custom Exec Ed Programs

What kind of Executive Education programme does your company prefer employees to partake in?

On average, how much would you expect to spend on a custom versus an open Executive Education course?

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Benefits of Custom Exec Ed Programmes

What are the benefits of a custom Executive Education program over an open programme?

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Location of study – increase in USA, Switz, France & Asia Pacific countries

What are your preferred locations for business education study?

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Preference by region (above 15%)

What are your preferred locations for business education study?

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Reasons for preference largely unchanged, Intnl outlook more important than employee desire

Why does your company prefer those regions or countries?

New

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Criteria for choosing a business school – faculty considered by more

On which criteria does your company base its decision to send employees to a particular business education school?

New

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Criteria for choosing a programme – Faculty expertise considered by more

On which criteria does your company base its decision to send employees to a particular business education programme?

New

New

New

New

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Programme #1 for reputation, Biz school #2 and University #3

Please rank the following in order of the influence of their reputation on your decision where to undertake business education.

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


USA & Cont Europe more likely to find Parent University reputation influential while UK & Asia Pacific focuses more on the programme

Please rank the following in order of the influence of their reputation on your decision where to undertake business education.

% who rank influence as #1

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Reputation based on faculty, accrediting bodies, media, rankings & employee feedback

How do you find out about the reputation of a business school or programme?

Respondents interested in Business Education for employees and would contribute funds towards Exec Ed (N=97)


Business Schools


Mental map of Business Schools

Which business or management schools come to mind when thinking about further education?

All respondents (N=1,215)


Mental map of Business Schools (excluding Harvard)

Which business or management schools come to mind when thinking about further education?

All respondents (N=1,215)


Information & Communication


International newspapers, School websites, Search engines and word of mouth

Which of the following sources do / would you consult for information on business education?

All respondents Business people (N=938) and HR professionals (N=277)


Year-on-year change for particular information sources for biz ed

Which of the following sources do / would you consult for information on business education?

stable

-3%

+20%

+20%

-2%

+166%

All respondents Business people (N=938)


Email and direct mail are preferred means of communication from Business Schools

How would you prefer business schools to communicate with you?

All respondents Business people (N=938) and HR professionals (N=277)


Communication preference by age

How would you prefer business schools to communicate with you?

All respondents Business people (N=938) and HR professionals (N=277)


Business Schools should emphasize name and types of programme in ads

Which of the following do you think Business School/ Programme should emphasis in their print or online advertisements to prospective students?

All respondents Business people (N=938) and HR professionals (N=277)


Advertising emphasis by age

Which of the following do you think Business School/ Programme should emphasis in their print or online advertisements to prospective students?

All respondents Business people (N=938) and HR professionals (N=277)


FT #1 for reach of business people attending business related courses in last 12 months

BE:Europe 2010; MBA/EMBAor MA/MSc/PhD/Dphil/DBA or Other Post Graduate Qualification or Any Executive Training Or Development Course Of Any Duration - Business Related Courses Attended In Last 12 Months


For more information please contact

name goes here

www.ft.com


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