University Business - December 2008 - (Page 13)

13.5 million B-school Blues DATA P O I N T —Number of applications for federal student aid, as of October, a 10 percent increase over last year’s 12.3 million. —The New York Times p e o p l e W AT C H WhAt do you do WheN youR iNstitutioN’s MissioN is to PRePARe the business leaders of tomorrow—and then the bottom falls out of the market? With Bear stearns, Lehman Brothers, and Merrill Lynch gone, and other firms reducing staff, the employment picture isn’t particularly encouraging for business school graduates. some experts predict Wall street will lose more than 45,000 jobs in the downturn. Fifty-two percent of respondents to a poll by the National Association of Colleges and employers expect they will hire fewer graduates in 2009 than in 2008. only 14 percent of respondents said they planned to hire the same amount as they did in 2005. so is a business degree—once the key to opening many doors—now worthless? Not necessarily. there are companies that are still hiring. At a recent college job fair, iowa-based accounting firm RsM McGladrey was ready to fill 175 intern and full-time positions in 16 offices across six states. that’s about 20 more positions than last year, a spokesman said. Lynne sarikas, director of the MBA career center at Northeastern University’s College of Business Administration (Mass.), says there are aspects of the investment industry where there are still jobs. But students should pursue other opportunities that use their knowledge. “Corporate finance now becomes a much more attractive option,” sarikas says, adding that, in particular, “large companies have extensive corporate finance functions and a huge need for MBA talent. Most of these organizations are global in nature so the opportunities span the globe. i would expect competition for these positions to increase as more students shy away from investment positions.” B-school grads who have been laid off should consider going back to school for skills that will better position them for opportunities in the future, she notes. the bleak job picture has also changed the way some approach their course of study. For example, at Lehigh University’s College of Business and economics (Pa.), there is growing interest in the master’s program—not the MBA, but the Ms variety. the reason? the Master of science programs allow students to apply immediately after undergraduate study, unlike the MBA programs, which require a minimum two years of work experience. still, the job picture hasn’t stopped many schools from using the economic crisis as a “teachable moment.” students at The University of New Mexico’s Anderson school of Management are getting investment practice with $7 million in funds provided by the Regents endowment Fund and New Mexico state investment Council. Any profits from the program go back into the endowment fund. —Tim Goral SoUND BITe ‘ What we’ve done in higher education is let our dreams and aspirations dictate our cost structure. —Robert J. Massa, vice president for enrollment and student life, Dickinson College (Pa.). ‘ WheN CAssANdRA MANueLito-KeRKvLiet WAs iNAugurated as president of Antioch University Seattle in october, she not only became the first Native American woman to become president of an accredited university outside the tribal college system, but she also adhered to the wishes of her great-great-grandfather, Navajo Chief Manuelito. “When he signed the Navajo treaty of 1868, he said, ‘education is the ladder to success. tell my grandchildren to climb that ladder,’ ” she explains. “here i am in the 21st century doing what he said.” Although Manuelito-Kerkvliet Cassandra admits it is humbling to think Manuelito-Kerkvliet of the sacrifices her ancestors made that allowed her to reach her position, she is excited by the changes she sees coming in higher education leadership. through involvement with ACe’s Women of Color Administrators, she enjoys meeting young women who are not taking the traditional faculty-to-dean path to leadership positions. Manuelito-Kerkvliet held various minority affairs and student services positions at Oregon State University, the University of Oregon, The University of New Mexico, and the University of Wyoming before becoming president of Diné College (Ariz.), the first tribally controlled community college in the nation. “the population is changing, the minority will be the majority, and students need to see people like themselves in positions of authority,” she asserts. she says President-elect Barack obama’s message of the change we need is something that can apply to leadership in higher ed. “i believe we are positioning ourselves for that change, whether we want it or not.” in applying this vision to Antioch, she says she wants to see the inclusiveness mentioned in the university’s core values reflected in the student population. she has questioned the wisdom of using international students to increase diversity when qualified students can be found locally who might just need tuition assistance. she is also interested in addressing “hidden diversity,” such as single mothers, as well as increasing diversity among the faculty and staff. —A.M. A New Rung on the Ladder universitybusiness.com December 2008 | 13 http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - December 2008

University Business - December 2008
Contents
Editor's Note
College Index
Company Index
Advisory Board
Behind the News
Sense of Place
Viewpoint
Human Resources
2009 Annual Directory to Financial Services
Future Shock
Independent Outlook
Endowment Management
Look Before You Leap
50 Best Branding Ideas
Remedial Nation
What's New
Facilities Focus
End Note

University Business - December 2008