Michigan Tech Global Campus News

Tag: TechMBA

Bridging Business and STEM

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The online Tech MBA program helps people bridge business and STEM.
Engineering and tech companies seek graduates with STEM and business administration expertise.

Discover the Online Tech MBA® and MEM Programs.

The College of Business and Michigan Tech Global Campus are teaming up to hold another virtual interest session on two of MTU’s most popular online programs: The Tech MBA® and the Master of Engineering Management (MEM).

They will be holding another 45-minute virtual interest session on Wednesday, July 17, at 11:30 AM (ET).

Mari Buche, associate Dean of the College of Business and program director; and David Lawrence, vice president for Global Campus and continuing education will lead the presentation. They will highlight and compare these programs, explaining which one is best for you. The team will also provide examples of curriculum pathways and discuss career opportunities.

The Michigan Tech’s Global Campus small but mighty team of admissions representatives (Amanda Irwin and Jacque Smith) will also be present to discuss the application process and accelerated options.

Get an Accredited, Respected Degree.

The Tech MBA® and MEM are not new, though. For several years, the in-person versions of these programs have long been respected at MTU. The Tech MBA in its current form (30 credits) began in 2017 whereas the online format was rolled out in 2022. Next came the in-person and online versions of the MEM (2020, 2023).

Both programs are also accredited by the Association to Advance Collegiate Schools of Business International (AACSB), an honor bestowed on only 5% of the nations’s business schools.

And like their in-person equivalents, the online MBA and MEM programs meet a strict set of standards, ensuring quality in curriculum, rigor, and research.

The Online Tech MBA® is a highly structured program consisting of eight required courses and two electives. In contrast, the MEM degree is more flexible. Students get to build their own programs, combining 4-6 business courses with 4-6 engineering courses.

Both programs provide learning experiences that fuse technological expertise and business administration. Students get to leverage their previous engineering experience, regardless of their field, and/or their former engineering management expertise. They also gain the cross-disciplinary advantage of studying at a school known for not only for its technology and business programs, but also for its Faculty who have leadership and industry experience in tech-centric fields.

Graduates of both programs will leave equipped with critical thinking, communication, problem-solving, project management, and leadership skills. As a result, they are more than prepared to tackle marketing, management, technical sales, leadership, strategy, and entrepreneurship positions. 

Prepare Yourself for Career Opportunities.

Incomes differ, but an investopedia article notes that MBA graduates who specialize in consulting, finances, and technology management earn the most. And according to one Fortune article, the median salaries for those with MBA degrees are substantially higher than those without them. One report ascribes 1.2 million dollars in extra income over a 20-year period.

Also, many organizations seek out and respect MBA holders. In fact, the Graduate Management Admissions Council (GMAC) found that 89% of employers planned to hire MBA graduates in 2021.

And MBA holders apply their skills and expertise in several fields. For instance, in Finance and Accounting, they might work as accounting managers, finance managers, financial analysts, budget analysts, and investment bankers. Whereas in heathcare, they might take on the roles of healthcare administrators and medical health service managers. Still others move to manufacturing where they act as managers for operations, supply chain, quality control, and more.

Typically, MBA programs are one of the most expensive master’s programs, with an average tuition cost of about 56k. This number does not include fees, books, and so on. Michigan Tech’s accredited program, which costs less, is definitely a value.

Learn More!

Prefer to do your own research? We’ve compiled other reasons for earning an advanced degree and pursuing an MBA.

Want to dive deeper? Ask more questions? Please join us at our virtual interest session on the Tech MBA®and MEM programs on Wednesday, July 15, 11:30 AM at ET. Bring your curiosity and your questions.

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ITC Signs Education Fellowship Agreement

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Leaders of MTU and ITC at the Corporate Fellowship Program Signing Event.

(Leaders and employees of MTU and ITC at the official signing event for the Corporate Education Fellowship. In the center is Linda Apsey, CEO and president of ITC Holdings Corp. To her left (our right) are Michigan Tech President Richard Koubek; and David Lawrence, vice president for Global Campus and continuing education. Contracts Specialist Felicia Milam stands on Apsey’s right. Directly behind her is Brian Slocum, senior vice president and chief operating officer of ITC Holdings Corp.)

Michigan Technological University recently signed a Corporate Education Partnership Agreement with ITC Holdings Corp., the nation’s largest independent electricity transmission company.

ITC owns and operates high-voltage transmission infrastructure in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas, and Oklahoma. It has more than 700 employees and 1,000 contractors. The company provides transmission grid solutions to improve reliability, expand access to markets, allow new generating resources to interconnect to its systems, and lower the overall cost of delivered energy.

The signing ceremony took place at ITC’s headquarters in Novi, Michigan, on Tuesday, August 22, 2023. In attendance were Michigan Tech President Richard Koubek; David Lawrence, vice president for Global Campus and continuing education; Linda H. Apsey, president and CEO of ITC; and Brian Slocum, senior vice president and chief operating officer of ITC. Other leaders from both organizations, MTU alumni, and fellowship recipients were also present.

Making Advanced Education More Accessible

The Corporate Education Fellowship was spearheaded by David Lawrence. This program supports ITC employees in their pursuit of online graduate education through Michigan Tech’s Global Campus. That is, current employees will receive fellowships to enroll in one of Michigan Tech’s online graduate certificates or master’s degree programs. These fellowships are available for up to four years, provided the recipients continue to be employed by ITC and that they meet Tech’s eligibility requirements.

The program allows employees to acquire further industry-needed skills, follow areas of professional interest, and meet the evolving demands of next-generation energy infrastructure.

The fellowship program is part of Global Campus’s dual missions of building relationships between academia and industry; and making quality online education more accessible to diverse adult learners.

President and CEO of ITC Holdings Corp., Linda Apsey; and President Richard Koubek sign the fellowship agreement.

Preparing ITC Employees For the Future

Linda Apsey, president and CEO of ITC, reflected on the fellowship and on collaborating with MTU. “We’re at this really pivotal moment in time, as we are on the cusp of an energy transformation. And innovation, new skills, new experiences, leadership: all of those things are so important now more than ever.”

Apsey also spoke highly of ITC employees who are Michigan Tech graduates: “What we observe and experience is that Michigan Tech grads come to ITC ready and prepared day one. They also come with the right skills and technical knowledge. And I would say even more importantly, that they arrive with the demonstrated desire to continue and to learn and grow in an organization like ours.”

Moira Morgan, director of organizational learning and development of ITC, affirmed that this fellowship helps employees be “prepared not just for today, but tomorrow. What they learned two years ago, three years ago, may not be applicable today.” So, thanks to this program, “they’re preparing themselves for the future.”

Supporting Industry in Michigan

At the ceremony, President Richard Koubek referred to MTU’s founding charter that mandates its support of industry, particularly in Michigan. He also addressed the importance of alignment between education and industry for both innovation and growth in organizations.

ITC CEO and President, LInda Apsey and President Koubek shake hands.
ITC CEO and President, LInda Apsey and President Koubek shake hands.

There is a change, transformational times, certainly in the energy industry. Also, there are a lot of transitions, tectonic shifts, happening in higher ed. In my opinion, having a close relationship with industrial partners is going to be key for universities succeeding in the future.

President Koubek

President Koubek also added, “It’s so important that what the students are learning in the classroom is directly relevant to what they’re going to do once they graduate. And I think having a tight feedback loop between industry and the academic institution makes that so.”

Continuing Its Relationship with Michigan Tech

Michigan Tech and ITC have a long-established relationship. For instance, ITC recently instituted the Jon E. Jipping Annual Scholarship for undergraduates. Jipping (MSEE ’91), who was one of ITC’s first employees, retired as executive vice president of ITC Holdings in 2023. He is now a member of the Michigan Tech Board of Trustees.

Following in his footsteps, several current ITC employees are Michigan Tech alumni. Additionally, many MTU students join ITC for summer internships, with several interns becoming full-time employees upon graduation.

Senior Vice President and Chief Operating Officer of ITC Holdings Corp. Brian Slocum confirmed that “the impact from Michigan Tech students on ITC has been longstanding. Over the years, we’ve heard from many, many Michigan Tech students that ITC and Michigan Tech share a similar mindset and culture, which is why our relationship has endured. What they [Michigan Tech students] continue to bring to the table is an ability to solve problems from a technical standpoint and a deep knowledge about the power industry, which gives them a kick-start on their career at ITC. I’m excited to see how that will grow as we move forward with our relationship.”

Brian Slocum, senior vice president and chief operating officer of ITC Holdings Corp.; and David Lawrence, vice president for Global Campus and continuing education sign the fellowship agreement.

Moving Forward with MTU

One of the fellowship recipients is Liz Martin, an engineering project manager. When asked about why she is pursuing the online TechMBA program, Martin asserted that she’s an “engineer through and through; it’s huge part of who I am. So I love that their [Michigan Tech’s] MBA program marries aspects of engineering with business, which is exactly what I was looking for.”

Then she enthusiastically added, everyone at ITC “loves Michigan Tech. We’re a big Michigan Tech company. I’ve always heard about how amazing it was. Most of my friends went to Michigan Tech. So I couldn’t miss an opportunity to also be a husky and join the fandom.”

Michigan Tech is proud to work with ITC, an organization committed to solving next-generation energy infrastructure challenges.

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Online MBAs Grow in Popularity

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Potential online TechMBA® students sharing data visualizations.

45,038 is the number of students enrolled in online MBA programs in the 2020-2021 academic year. For the first time ever, the online student population outnumbered the in-person full-time one (43,740). At last count, in fact, there were 1,095 online MBA programs offered by US higher-ed institutions alone. MTU’s TechMBA® ranks well among this crowd.

Why the rapid increase in both online MBA programs and enrollment? Well, one of the main reasons is that the COVID-19 pandemic changed the education game. At first, universities were forced to offer online and hybrid options. But then they kept rolling these out. In other words, the coronavirus crisis made both prospective students and employers more receptive of online programs. A New America poll also found that the belief in the quality of online learning actually increased by 16% during the pandemic.

Furthermore, 83 percent of the hiring executives in a CNN survey affirmed that an accredited online degree is as credible as an on-campus program. When it comes to online MBA degrees, a survey from the Center for the Future of Higher Education and Talent Strategy Fund had similar findings. That is, 71 percent of employers now view the quality of business degrees earned online as equal to or even better than traditional in-person programs.

So Why Earn MTU’s TechMBA®?

Back in July 2022, in my first blog, I introduced Michigan Tech’s newest online program: the TechMBA®. This program is still going strong. And there are several reasons for both its popularity and credibility.

Accreditation

Only 248 percentage of the 1,095 online MBA programs (less than 25%) offered by US institutions are accredited by the Association to Advance Collegiate Schools of Business. MTU’s TechMBA® is one of these select programs. In other words, the TechMBA® is not only accredited but also respected by industry, business, and STEM professionals. In fact, MTU’s online MBA program regularly ranks as one of the top in the state.

Stem Focus

Michigan Tech’s online MBA is not just business (adminstration) as usual. The TechMBA® is also one of the 24% of US online MBAs that have a STEM focus. That is, MTU’s online MBA degree allows students to leverage their STEM backgrounds and technological competencies. Students develop the fundamental business administration, project management, and communication skills required for STEM-professional roles. These skills qualify graduates for leadership roles in their chosen engineering fields. Those who complete the TechMBA® program are also adept at taking on project management, technical sales, and entrepreneurship positions in STEM-related workplaces.

Flexibility

The US News reports that when it comes to in-person MBA programs, the average age of students is 27. For online programs, however, that age rises to 33.

And 91% of online MBA students even worked full time while pursuing their degree.

What these numbers mean is that online MBA programs, like the TechMBA®, attract older students seeking flexibility in their education. Online learning, for sure, does involve an adjustment period. But there is no need to relocate, readjust your schedule, or leave your job. (There is also no need to frantically dig out from a snowstorm only to arrive to class a late, sweaty mess.)

Smaller, Tighter Class Community

Online learning often means increased interactivity. Research has shown that online learning is as good as if not better than face-to-face instruction. When it comes to peer-to-peer interaction and discussions, online classes may even surpass the effectiveness of their in-person versions. And in a smaller program, such as that of the TechMBA®, there are even more opportunities to connect with peers and instructors. More opportunities to develop those communication skills that are central to leadership roles.

Career Advancement

As early as 2016, Fast Company reported on how several employers began increasing their education requirements. A later CareerBuilder survey revealed that this trend has continued. In other words, an advanced degree may help you not only get that job in the first place but also move up the corporate ladder more easily.

Then there is the matter of salaries. According to a study done by the Georgetown University Center on Education and the Workforce, those holding advanced degrees may earn over 30% more over the span of their career than employees with only bachelor’s degrees.

Strong Return on Investment

Investopedia has noted that MBA graduates who specialize in consulting, finances, and technology management earn the most. And according to one Fortune article, the median salaries for those with MBA degrees are substantially higher than those without them.

The Corporate Recruiter Survey survey (Graduate Management Admission Council) also found that the median 2022 starting salary of new MBA hires was $115,000. And that salary, which is a historically high figure, doesn’t include the median signing bonus of $10,500.

And you also get that ROI faster with an MBA. A recent Wall Street Journal analysis of federal student loan data found that 98 percent of MBA programs leave students with more manageable debt loads than graduates of other programs.

Other Benefits of the TechMBA®

The short list of why you might pursue an advanced degree, such as an MBA, includes the following: acquiring the necessary credentials, pursuing your interests, moving into more fulfilling, impactful roles, gaining additional job security,and increasing your compensation.

But there are other, more personal incentives. Whatever your current degree or desired career path, we’ve summarized some of the advantages for pursuing an advanced degree or earning an MBA degree.

Learn More About the TechMBA®.

If you’d like to learn more about the in-demand MTU’s online MBA degree, come listen to the experts.

That is, Mari Buche (College of Business), David Lawrence (Vice President for Global Campus and Continuing Education), as well as members of the Global Campus team will be holding a virtual interest session on the TechMBA®.

This online event will be on April 11, 2023, at 11:30 AM – 12:15 PM. Please bring your curiosity and your questions.

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