TMCnet News

New ROI Transparency Initiative Introduced at Worcester Polytechnic Institute for Prospective MBA Students
[November 10, 2022]

New ROI Transparency Initiative Introduced at Worcester Polytechnic Institute for Prospective MBA Students

Career simulator for prospective students uses data, predictive analytics to help students understand the ROI of a graduate business degree

WORCESTER, Mass., Nov. 10, 2022 /PRNewswire/ -- The Business School at Worcester Polytechnic Institute (WPI) ranked a top 25 online MBA program by Poets & Quants, is launching a new outcomes transparency initiative that will harness the power of data science and labor market insights to forecast the long-term value of an MBA. In collaboration with Seattle-based data services firm AstrumU, prospective MBA students will gain access to customized predictions for their career placement, promotion and earning potential based on the real-world career outcomes of WPI graduates.

"In an increasingly tech-driven economy, employers in the fastest-growing tech and digitally-connected industries recognize the unique value-add of MBAs in translating cutting-edge ideas into marketable products and services," said Reverend Dr. Debora Jackson, dean of the WPI Business School. "We continue to see steep demand from employers for this unique brand of STEM-infused MBA curriculum. This ROI transparency initiative will enable us to help prospective students understand—with precision—the career and earning potential that the WPI MBA experience commands in the fast-changing world of work."

Demand for MBA students remains especially strong in tech and digital fields: 96% of tech recruiters have indicated that they are highly confident in business schools' ability to prepare students for succes in their industry and expect demand for MBA graduates to remain consistently high for years to come.

To help provide students with greater transparency around post-graduation job placement and salary outcomes, WPI will deploy the ReadySet career advising platform from AstrumU. Powered by cutting-edge machine learning technology, the platform's data science models match course-level outcomes, academic performance and extracurricular experiences with salary and job placement outcomes from data drawn directly from employers.

At the beginning of their inquiry and enrollment process, students will gain access to a statistically-valid forecast of their career and earning potential in their desired industry based on the accomplishments of alumni with comparable career backgrounds and goals. Admissions counselors can use the same data to tailor their communications with prospective students and create a more transparent enrollment process that informs them how an MBA degree can help them achieve their personal and professional aspirations.

The new initiative is an extension of WPI's efforts to deliver an affordable and accessible graduate business degree through its signature STEM-focused MBA spanning seven academic concentrations in high-demand fields such as analytics, finance and supply chain operations. As an example of the WPI Business School's ROI, graduates of its MBA program earn a median annual salary of $119,061, higher than the average MBA graduate ($115,000).

The Business School at WPI joins more than 30 business schools that are leveraging AstrumU's technology to serve prospective students. This group of institutions has gained early access to the tool to support student enrollment and retention using insights from the platform's analysis of millions of student educational and career journeys.

"Transparency is an affordability and accountability imperative in graduate education today, because students actively considering an MBA are exactly the kind most likely to be discerning about evaluating a program's long-term return on investment," said Adam Wray, founder and CEO of AstrumU. "This work is about leveraging the best in data science to help the next generation of leaders make informed decisions about their professional futures."

About The Business School at WPI: The Business School at WPI develops adaptive leaders who shape the world at the intersection of business, technology, and people. Home to world-class faculty from across industries, we are the business school for engineers, scientists, and changemakers. Our STEM-focused graduate programs include Business Administration (MBA and PhD), Business Analytics, Information Technology, Innovation with User Experience, and Operations Management & Supply Chain Analytics, among others.

About AstrumU: AstrumU translates educational experiences into economic opportunity. We are on a mission to quantify the return on education investment for learners, education providers, and employers. We help institutions measure the value created for incoming and returning students, while assisting them in securing industry partnerships that lead students seamlessly into high-demand career pathways. Institutions partner with AstrumU to drive enrollment and increase alumni and corporate engagement, while extending economic mobility opportunities inclusively to all learners.

Cision View original content:


[ Back To's Homepage ]