“It’s run like an investment bank,” says one faculty member
of Britain’s 178 providers of higher education sought to rank how vulnerable they were to the current downturn. Most of those high up the list were not names that lend polish to an executivehas benefited from a long boom in the business of business education and a good reputation.ranking puts it 25th in the world last year. Those two factors allowed it to push up prices. Its Masters in Business Administration, which cost £50,000 in 2010, now sets students back £90,000 .
The school argues that pay levels represent “the quality of our faculty and the strong demand for their services in top business schools around the world”. Remuneration packages at American institutions are certainly larger. Many staff members at business schools in the United States pull in over $1m, while’s best-paid employee, the dean, François Ortalo-Magné, got a mere £609,000 last year.
Nor is its difficulty the international nature of the student body, as it is with many institutions that offer primarily undergraduate degrees. Many such universities expect a collapse in demand from abroad. Some 60% of’s self-paid students are international but they do not seem to have been put off.
The problem lies with the source of what a faculty member calls “the big bucks”. Executive education programmes that do not lead to degrees, which the school runs for both individuals and corporate clients, make up around 30% of revenues. Demand has “fallen off a cliff”, as training budgets are slashed. Insiders talk of a potential drop in turnover of 20-25% this year.has responded quickly by trimming salaries rather than cutting headcount.
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