The job prospects for MBA graduates continue to look up. According to the Graduate Management Admission Council, 90 percent of 2013 MBA graduates are employed, and 74 percent of these graduates report they couldn't have obtained their job without their MBA. To make it easier for working adults to earn an MBA for career advancement, Penn State's online Intercollege MBA (iMBA) program is launching merit-based scholarships.
"iMBA scholarships will allow us to attract and retain highly qualified applicants," said Ashutosh Deshmukh, iMBA program chair and professor of accounting and MIS at Penn State Erie, The Behrend College. "These scholarships make us more competitive and broaden the appeal of the iMBA program."
The iMBA program is a collaboration of Penn State Behrend, Penn State Great Valley School of Graduate Professional Studies, Penn State Harrisburg, and Smeal College of Business. The program is delivered online by Penn State's World Campus. The four academic units and the World Campus are pooling funds to invest in the iMBA World Campus Merit-based Scholarship program.
iMBA students will be selected for scholarships based on the strength of their application portfolio by the iMBA program office in consultation with the Academic Steering Committee led by Deshmukh. Scholarships of up to $10,000 per academic year will be awarded to reduce tuition.
Most iMBA students are mid-level managers working in the business field. Groups of students proceed through the two-year program together, including participating in a company residency where students prepare a deep analysis that is made available to the company at no cost, and a large-scale business simulation at Penn State's University Park campus.
The iMBA program is AACSB accredited and is highly ranked among U.S. online MBA programs. Since the program opened in fall 2002, nearly 700 students from the United States and many countries have graduated.
For information about Penn State's online MBA, visit the program's website.