Babson College is to launch a masters degree in entrepreneurial leadership skills in September 2014 aimed at recent graduates with little or no work experience.
Dennis Hanno, provost and senior vice-president of Babson, says that fees for the masters of science in management will cost students in the region of $50,000. The cost of the one-year MBA is currently $70,000. The nine-month masters programme will be worth 30 credits compared with the school’s post-experience 12-month MBA, for which the school awards 45 credits.
Prof Hanno said he did not think the programme would undermine enrolment numbers in Babson’s four existing MBA offerings.
“It’s a different population that we’re targeting. What our marketing research is telling us is that students need a bachelors plus another degree,” Prof Hanno said.
“Everyone struggles to hit their enrolment targets unless they’re in the top 10. But I don’t think it will cannibalise our offering, I think we are filling a niche.”
Prof Hanno explained that while a number of business schools offer masters in entrepreneurship, very few offer a course like Babson’s intended offering that aims to equip students with entrepreneurial skills that can be used in a broader business environment as well as those intending to set up their own business.
“Our masters of science in entrepreneurial leadership skills is just as applicable for someone who wants to start a job at General Electric as for someone who wants to start a business of their own.”
Prof Hanno said he knew of a number of schools that were planning to launch similar courses in the near future, but said that the school’s experience teaching entrepreneurship skills at MBA level meant it could offer some tried and tested approaches.
All students on the programme will complete two international experiential learning experiences based on the school’s existing programmes requiring undergraduates and MBA students to create new projects, teach entrepreneurial skills and do real consulting with international companies. The cost of the overseas trips are rolled into the fee structure.
Babson is targeting a cohort of 50 students at the first instance.
The college currently offers a one year full-time MBA, a two-year full time MBA and two part-time programmes.