MBA program for cowboys teaches all about ranching

Doug Wilmeth, from New Mexico, said he had worked in various segments of the industry from calving to packing and wanted "to be able to tie it all together."

Dunn said graduates could expect to be recruited for $50,000 to $75,000 to start, with salaries going up over time.

Meanwhile, ranch families may have gotten so big and spread out over the generations that the best way to handle management is to outsource it.

"The land that ranchers manage is really precious to all of us," Dunn said. "We produce food for all of us and we produce recreation. Ranchers really have a unique role in society and this little institute is trying to ratchet that up."

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