RETURN OF THE MBA

Gazette, The (Colorado Springs), May 15, 2006 by DEBBIE KELLEY THE GAZETTE

Some job-seekers use eyecatching type, an unusual design -- even humor -- hoping to elevate their rsum to the top of the pile.

But what really can make a difference for certain positions are three initials: MBA.

"We value the MBA -- it gives people a broad understanding of all the functions of a business and how the business works as a system," said Nina Polok, a human resources manager at the Colorado Springs office of Agilent Technologies, which employs 700 and manufactures electronic measurement tools.

The fluctuating job market for those with a master's degree in business administration appears to be on an upswing. Across the nation, employers say they will hire 18 percent more new MBAs this year than last year, according to a recent survey of corporate recruiters conducted by the Graduate Management Admission Council.

Local activity reflects the national trend.

"We're having more requests for job applicants with MBAs than we've seen in a while," said Jill Webb, executive recruiter at Add Staff Inc., an employment services company.

When applications are abundant, with hundreds of people vying for one opening, an MBA helps employers "distinguish between a good candidate and an excellent candidate," Webb said.

The MBA is highly marketable in Colorado Springs, says Tammy Fernandez, associate campus director at the University of Phoenix's southern Colorado campus.

"Based on our demographics -- Colorado has one of the highest rates of bachelor's degrees per capita -- the MBA is even more important in our market because it's what differentiates people," said Fernandez, who has an MBA.

According to the 2000 Census, 33 percent of adults in Colorado and Massachusetts have bachelor's degrees or higher, the highest rate in the nation.

Employers agree that the analytical problem-solving, communication and practical business skills learned are utilitarian in the workplace. The MBA holder, when pitted against another job candidate with equal experience, has a good chance of edging out the competition, said Ralph Cruz, EEO staffing manager for Colorado Springs Utilities, which has more than 2,000 employees.

"Hiring someone with an MBA means they have a broader scope of understanding and can take the lead on a project and effectively interact with people in the group," Cruz said. Other proof of its worth: Newly hired employees with an MBA degree start at a higher salary at Agilent than those with bachelor's degrees, said Polok, who has an MBA. The company also pays full tuition for employees who want to earn an MBA, if it is related to their current job.

"People we've sent to get an MBA come back seeing the world differently," Polok said, "which is where the payoff is."

THE EVER-MARKETABLE MBA

Increasing enrollment in MBA programs is another indicator of the degree's value. After a drop in 2002 and 2003, Regis University's local MBA student count is now 147, higher than the past few years.

"Most companies are still looking for people with MBAs -- the draw for MBAs is very strong because it gives an overview of how a company works," said Bob Deemer, lead faculty for operations in the MBA program at Regis' local campus.

Applications for the fall MBA program at the University of Colorado at Colorado Springs also are up, according to Venkat Reddy, Ph.D., dean of the College of Business and Administration and Graduate School of Business Administration. "The demand hasn't subsided," he said. The school has 420 MBA students, a rate that has held steady for the past few years. But Reddy isn't worried about saturating the market: "Many students want an MBA because they're not happy in their jobs and want to become entrepreneurs."

Most MBA students, who range in age from their 20s to their 60s, already have jobs. In addition to starting their own business, local college officials say motivations for pursuing an MBA include being promoted or getting a different job, earning a better salary and accomplishing a personal goal.

"An MBA builds confidence," Reddy said, "and increases networking skills."

Both nationally and locally, MBAs with an emphasis in finance or marketing are popular, along with health care administration, colleges report.

To ensure that business graduate schools are providing what employers want, school officials continually update their curricula to keep pace with changing technology and business practices.

"The MBA degree is about what's happening right now -- we look at what does it mean to companies if gas prices go up," Reddy said.

Instructors, who usually have worked in corporate America, present "real world" situations for students to analyze, solve and debate.

"The time has passed where you teach pure academics in MBA because then you fall behind. Students need an integration with people who have applied the principles," said Deemer, who spent 30 years in senior positions in technology and space industries.

An MBA program, which usually takes 18 to 24 months to complete, costs $12,000 to $20,000 at local colleges and universities of varying accreditations. Some employers help pay for part or all of the tuition. About 50 percent of the University of Phoenix's students receive tuition reimbursement from their employers, Fernandez said.