Master of Management named top 25 program
Merrimack College’s master of management program was recently named a top 25 program in the nation by The Financial Engineer, joining other prestigious schools on the list such as Massachusetts Institute of Technology and Boston University.
Merrimack ranked 23rd nationally on the on-line publication’s list.
“That’s a nice seal of approval,” said Girard School of Business Dean Mark Cordano. “That’s very nice, it’s very respectable for us.”
MIT topped the list and Boston University was ranked seventh, followed by Worcester Polytechnic Institute at 13. No other New England School ranked higher than Merrimack.
The magazine’s methodology included weighted scoring for the mean GMAT scores, mean starting salaries and bonuses, mean undergraduate grade point averages, acceptance rates, full time students employed at graduation, and full time students employed within three months of graduation.
Merrimack has about 55 students in its master of management program and the ranking is a confirmation of its momentum, Cordano said.
“The thing I was looking for when I opened (the listing) was a respectable showing, because we have a strong program,” Cordano said.
Financial Engineer’s decision to look at one-year programs, such as Merrimack’s master of management, was smart because the specialized degrees are growing in popularity, Cordano said.
They are already prominent in Asia and Europe.
The master of management program is good for professionals who have practical experience in their fields such as health care but who need class work in administration to advance in their careers.
Merrimack’s program also helps meet the needs of part-time students, international students, and undergraduates who decide to stay for a fifth year, Cordano said.
The master programs in specific fields are growing as popularity of traditional MBA degrees is waning, Cordano said.
The MBA was developed in the 1970s and 1980s for professionals who graduated and went to work where they gained experience before returning for an MBA that gave them a career advantage.
There are a multitude of MBA programs now, and professionals are spending more time in the classrooms with continuing education so it made sense for Merrimack to offer a master of management program, Cordano said.
The school isn’t done developing degree programs.
The idea is to create master programs in specific subjects to meet the needs of professionals.
Merrimack has master programs for management and accounting in place but is developing master degree programs for science and finance.
“It creates a way for people to make a professional pathway for themselves,” Cordano said.