College of Business/Graduate Programs

Illinois State University, College of Business/Graduate Programs History

Illinois State University, founded in 1857, is a public, coeducational institution. The 920-acre campus is located in an urban area 150 miles southwest of Chicago. Total undergraduate and graduate enrollment is 20,521.

The College of Business/Graduate Programs was founded in 1967 and is located on the main campus. Courses also are offered at Decatur (Corporate MBA Program for specific company employees). The basic educational approach is an appropriate balance between case analysis and the theoretical frameworks needed to develop creative thinking and problem-solving skills.

Illinois State University, College of Business/Graduate Programs Academics

The College of Business offers the Master of Business Administration (MBA), Master of Science in Accounting (MSACC), and Master of Professional Accountancy (MPA). Other programs include an interdisciplinary program in arts management, foreign exchange with 5 countries, a cooperative program with agribusiness, and internships, which are encouraged as electives for students without full-time work experience. The strongest areas of study are marketing, management, and finance. The most popular courses are Human Resources Management, Advanced Consumer Behavior, Investments, and Project Management. Regular programs bring distinguished speakers and visiting professors to campus. CEOs and other corporate executives are invited to speak during Business Week each fall and on numerous other occasions. Executive forums are sponsored by the Office of Insurance and Financial Services.

Thirty-six total semester hours are required to complete the MBA, including 9 elective semester hours. Required courses include:

• Management Accounting
• Contemporary Business Perspectives and Leadership Skills
• Financial Management
• Advanced Marketing Management
• Operations and Quality Management
• Advanced Organizational Strategy
• Research Methodology
• Management Information Systems
• Organizational Behavior

Required courses for the MSACC include:

• Financial Accounting Theory
• Management Information Systems
• Introduction to Research Methodology in Accounting

Required courses for the MPA include:

• Financial Accounting Theory
• Management Information Systems
• The Professional Accountant as a Manager of Information Systems
• Business Information Systems Consulting
• Introduction to Research Methodology in Accounting

Students may eliminate or substitute requirements on the basis of previous academic courses, or passing grades on proficiency exams for foundation courses.

Business students may take relevant nonbusiness courses in other departments. The minimum time permitted to complete the master’s degree program attending full time is 1 year; maximum, 6 years. For students attending part time, the minimum is 2 years; maximum, 6 years.

There are 70 total full-time graduate business faculty, all of whom hold a doctorate. Faculty salaries are rated well below average for Category I institutions, based on the AAUP rating system. Average number of credit hours faculty teach is 9; average business class size is 19.

Illinois State University, College of Business/Graduate Programs Unique Programs

Library

Publications for the business school contained in the main library consist of more than 1,604,061 volumes, 1.9 million microform items, and 36,000 audio/video tapes/CDs, and subscriptions to 14,166 periodicals. Students have access to such databases and networks as Dialog, Business Periodicals Index, RIA On Point, EconLit, Disclosure, Worldscope, Business Dateline, Business News, Business Organizations, ABI/INFORM, STAT-USA, PAIS Decade, and Business Management Practices. Other opportunities for research consist of on-line access to the Computer Library Center, Illinois Library Network, Illinois Library Computer System, and CD-ROM databases; there is web access from library computers, the library computer laboratory, and off campus.

Computers

Graduate business students must have their own PCs. The business school has its own computer facilities, consisting of 1 computer laboratory with 112 IBM stations and 4 computer classrooms with 120 stations. Other computer laboratories across the campus provide 24-hour access. Terminals in numerous campus locations provide mainframe and Internet access and word processing, spreadsheet, and database software.

Career and Job Placement

Placement services are limited, since most students are already employed full time. Placement services for alumni include a web-based resume and job posting service. Placement is available through the university placement office. Ninety-four percent of a recent graduating class found jobs within three months of receiving their degree.

International Students

International students must take the TOEFL. They must score 600 on the Paper-Based TOEFL (PBT). They also must submit a translation of their transcripts and proof of adequate funds to cover 1 year of study. Financial aid is available for these students and consists of assistantships and tuition waivers. The application deadline for fall entry is February 1.

Calendar

The school operates on a traditional semester basis. Semesters are 16 weeks long; summer sessions, 6 weeks. Graduate programs are offered during the day and evening.

Illinois State University, College of Business/Graduate Programs Admissions

A bachelor’s degree is required, along with a GPA of 3.0. The formula for using the GPA and GMAT scores is (200 x last 60 hours of GPA) + GMAT. Most important admissions factors are grades in upper-level courses, GMAT results, and letters of recommendation. A strong mathematics background is not required.

The number of applicants for the 2006-2007 class was 204; 158 were accepted; 99 enrolled. The average GPA was 3.5; average GMAT score was 543. Transfers are accepted. Minority students are actively recruited by graduate minority tuition waivers, Julia Visor Book Scholarship, McNair Book Scholarship, McHenry Scholarship, and Diversifying Faculty in Illinois.

Students may begin the MBA program in the fall, spring, and summer. To apply, students must submit an application form, 2 transcripts, GMAT scores, a nonrefundable application fee of $40, 2 letters of recommendation, and essays. The application deadlines are February 1 for fall entry; September 1, spring; February 1, summer. Students are notified of the admissions decision after the deadline, then on a rolling basis until seats are filled. The latest acceptable test date for fall entry is July 1. Once accepted, students may defer admission for 1 academic term.

Illinois State University, College of Business/Graduate Programs Financial Aid

About 75% of graduate business school students received financial aid from scholarships, loans, and graduate assistantships in a recent year. Stipends and programs available for minority students include tuition waivers and a fellowship program. The FAFSA and the Illinois State Financial Aid Application are required. Check with the school for current application deadlines.

Tuition for in-state residents is $185 per credit, or $3330 per year. Nonresidents pay $386 per credit, or $6948 per year. On-campus room and board costs approximately $6148; books and supplies, $861; personal expenses, $2135; and other fees, $1260, for an estimated annual total of $13,734 for in-state residents and $17,352 for out-of-state residents. Graduate student housing consists of university-supported apartments on and off campus, graduate student floors in residence halls, and off-campus apartments. There is a referral service to help procure off-campus housing.

Illinois State University, College of Business/Graduate Programs Students

Forty-seven percent of the current graduate business school class are enrolled full time. The greatest percentage of students are from Illinois (82%). Thirty-six percent are women, 7% are minorities, and 17% are foreign nationals. The average age at entrance is 26; ages range from 21 to 50. In 2006, 103 graduate business degrees were awarded.