Louisville, United States – The University of Louisville (UofL) College of Business announced the launch of a initiative that will enable students to forecast the labor market value of earning a graduate business degree. In collaboration with Seattle-based data science startup AstrumU, the UofL College of Business is pioneering the use of a new machine learning tool to offer insight into the professional outcomes that a UofL MBA degree holder can expect to see upon graduation.
“Graduate programs in business schools should be places of opportunity for students of all backgrounds to prepare for rewarding careers in today’s most in-demand industries,” says Jeff Guan, interim dean and professor at the UofL College of Business. “Students benefit when they’re able to understand their academic and professional options in a highly personal manner, whether that’s accomplished through hands-on learning opportunities like internships or other immersive experiences. AstrumU brings that same tailored experience to students considering graduate business education and helps them to make informed decisions about the pathways they’d like to pursue.”
With a commitment to the growth and development of the Louisville area, the UofL College of Business offers a variety of educational pathways in its MBA program that reflect local industries including distilled spirits, franchising, horse racing, and others. The College works closely with regional employers to give students access to hands-on “learn and earn” internship experiences that allow them to put their classroom experience into practice Upon completion of the internship program, 94% of students have received offers of employment from these companies.
Using AstrumU’s ReadySet tool, students will gain access to an interactive tool that helps them visualise their potential earnings and advancement potential after graduation, based on how alumni with comparable career backgrounds and goals fared in the career or industry of their choice. Students can receive an even more detailed ROI prediction based on projected earnings and advancement potential by providing additional information about their education and work history.
The ReadySet technology enables business school leaders to use sophisticated data science and predictive modeling to match course-level outcomes, academic performance, and extracurricular experiences with salary and job placement outcomes from data verified by employers.
Staff and administrators at the College of Business can now analyse labor market, alumni, and employer data to demonstrate how the skills earned through the UofL MBA translate into economic and career opportunities for students and alumni. Using the same data, admissions counselors can personalise their communications with prospective students and provide more detailed information on how UofL degree programs can match educational and career aspirations.
“Even in today’s uncertain business climate, business degrees are trusted by employers as indicators of career preparedness as they look to recruit talent,” says Adam Wray, founder, and CEO of AstrumU. “This is about going beyond simplistic insights on new job openings based on publicly available data and providing each learner with personalised insight into how their unique educational experiences translate into value in today’s fast-changing economy.”
The UofL College of Business joins more than two dozen business schools leveraging AstrumU’s technology to increase transparency on the ROI of MBA degrees. Using ReadySet, this cohort has been able to boost student enrollment and retention using insights from the platform’s analysis of millions of student educational and career journeys.
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