The University of Akron College of Business Administration (CBA) ranks first in Ohio, and 39th nationally among public schools, for giving its students the biggest return on their tuition dollars after graduation, according to the latest survey conducted by Bloomberg BusinessWeek.
The continuously rising costs of a college education, combined with a slumping economy, makes the return on investment that students get from their business school a very important factor in the college selection process.
BusinessWeek based its rankings on a comparison of annual tuition costs with median starting salaries for new graduates. For the survey, the publication used the programs that had participated in its recent ranking of the top 100 undergraduate business schools in the United States. (There are more than 1,600 undergraduate business programs in the U.S.) BusinessWeek found that public universities, with their lower tuition, generally did far better than private schools, averaging $5.34 in pay for every tuition dollar spent, compared to $1.46 for the private schools.
For UA, the rate of return is $5.14, based on annual tuition and fees of $8,382 and a starting salary of $43,102. The number crunching boosted UA to the top spot in Ohio, ahead of Ohio University (43rd), Bowling Green State University (46th), Ohio State University (51st) and Miami University (53rd).
It was in early March that BusinessWeek named UA College of Business one of the best undergraduate schools in the nation. In the magazine’s 2010 annual ranking of undergraduate business programs in the United States, UA, at 76th, was the only business program at a public university in Northeast Ohio in the top 100. The college was ranked at 7th in the nation for recruiter satisfaction.
“Our programs emphasize rigor and key competencies that are essential in the global workforce. These coupled with co-curricular experiences and a strong relationship with the business community provides real value to our students,” says Dr. Ravi Krovi, acting CBA dean. “So, it is always gratifying to have the excellence of our faculty, staff and students recognized, and to see our students rewarded for their hard work as they begin their business careers.”
The College of Business Administration is accredited by AACSB International-The Association to Advance Collegiate Schools of Business for the business and accounting programs, a distinction shared only by 173 out of 12,000 business schools worldwide.