The highly-ranked Master of Business Administration program at the University of Nebraska–Lincoln is celebrating 60 years with a special MBA Reunion held Saturday, Nov. 2. All Nebraska MBA alumni are invited to campus for an MBA 60th Reunion featuring free Executive Education and Professional Development sessions taught by current faculty and a ticketed tailgate prior to the Nebraska v. UCLA football game.
Transforming throughout its history to meet the needs of students while embracing new technological advances, the high-return-on-investment program was rebranded as the MBA@Nebraska in 2018.
"We have prioritized offering a high quality and affordable MBA program that meets the needs of our students in the ever-changing world of business," said Kathy Farrell, James Jr. and Susan Stuart Endowed Dean and professor of finance. "Our graduates report starting average salaries over $140,000, and we've strategically kept the MBA@Nebraska under $34,000 while other top-ranked programs cost more than $98,000 to provide our alumni with a high return on investment."
Fred Luthans, emeritus professor of management, helped with the development of the MBA program when in his role as assistant dean at the College of Business. He directed the MBA program and chaired the Graduate Programs Committee.
"When the MBA program began in the '60s, it was almost solely aimed at engineers and not business graduates. Offered in person during the day at what was then the College of Business Administration building at 12th and R streets, it soon became mostly business graduates earning their MBA," Luthans said.
David Krecek, '64 & '65 MBA, was one of the first four Nebraska MBA graduates. He worked for Northwestern Bell Telephone for 21 years and spent two years in small business management and consulting before teaching managers behavioral assessment with P.I. Worldwide for more than 30 years.
"When I was studying electrical engineering, I was permitted to take my engineering electives in business courses. The MBA and engineering degrees were a great combination as I received job offers from every Fortune 500 company," said Krecek who lives in Omaha, Nebraska, and retired in 2022.
David Kroon, '65 & '71 MBA, retired from Criterion Investment Management as a managing director in Houston, Texas. He shared how Luthans was his favorite administrator and told him about a job opening in investments.
"Life is like investing. Making good choices and investments can be hard. Luck plays a part in the outcome of choices. Crossing paths with Dr. Luthans that spring of 1971 day was lucky. My engineering and MBA degrees helped me greatly, and my skills allowed me to succeed in financial engineering, as I call investing now," Kroon said.
Luthans noted how the late Jack Goebel, '68, (2018), then professor of accounting and business law, was instrumental in launching an MBA program specifically geared at top executives in the 1980s. Goebel served as director of Nebraska's Executive MBA program and later became dean of the college from 1995-98.
"The very top executives in Lincoln and Omaha were part of the Executive MBA programs. Offered as a cohort program, the leaders took classes together, learning from the professors while gaining insight from each other," Luthans said. "The Executive MBA program later spun into the Gallup/UNL MBA/MA program."
The 18-month program at Gallup brought leaders from top companies together for two weeks at a time. Remote sessions were offered between the core blocks, and executive coaching was central to the learning experience, according to Robert Webb, '04, a member of the inaugural class.
"I was working at the headquarters of an international business division of Citigroup, based in Dallas, and was part of the inaugural class," Webb said. "Our class included Curt Coffman, who authored cutting-edge books for Gallup. It also included the president of Toyota Financial, State Farm, Stryker and Toyota Sales. I have countless memories from the program, centered on the talents of my classmates. They were each accomplished in their chosen fields and raised the bar for me every day. We met in Washington D.C., Southern California and Germany, where we were exposed to cutting-edge organizations and business practices."
Gordon Karels, emeritus professor of finance, joined Nebraska in 1987 and became chair of the MBA in the 1990s when the focus of the program shifted around the working professional.
"We wanted to expand and serve students who earned undergraduate degrees other than business as the industry was sharing that they needed professionals with more business acumen. For many professionals, it was difficult to take time off to attend the courses during the day, so we converted the on-campus program to an evening program. Students could work during the day and take in-person MBA courses at night," he said.
Karels noted how CorpNet satellite technology was utilized to primarily fill the gap in high-level business training in western Nebraska after a 1990 study by Clarus Corporation showed the need for it. Started in the fall of 1992 after the Nebraska Legislature provided funding, the satellite program offered two courses a semester.
Jack Copsey Jr., '95, became the first student to graduate by taking all his courses by satellite, according to a college publication called the CBA Report.
"I couldn't pass up the opportunity when the program started in Scottsbluff. The course material has been very helpful, and I used it in my business," Copsey said in the report.
The college also partnered with Offutt Air Force Base to offer graduate courses for military students under a contract with the Department of Defense in the 1960s. Following the first Gulf War, the tour of duty at Offutt for most military personnel was reduced to two years.
"We wanted our military students to be able to complete their MBA degree in that same time period, so the courses were compressed into four 10-week terms per year. We heard many positive things from our students and our program became a leader in military education," Karels said.
Following the events of 9/11, Nebraska became one of the first schools to offer the MBA online so military students could remain enrolled while serving on overseas assignments. A year later, the online MBA was offered to both military and non-military students, and enrollments surged.
"The online program expanded our market and provided more flexibility for working professionals. No matter where our students live today, they can take MBA@Nebraska courses when it works in their busy lives while keeping their other commitments," said Aaron Crabtree, associate dean of master's programs and executive development, KPMG Faculty Fellow in Professional Accounting and associate professor of accountancy.
As the program transitioned and expanded, it also jumped in the rankings, noted by The Princeton Review, U.S. News & World Report, Poets&Quants and Financial Times as a best value in the world and a best online MBA program for veterans. Other accolades from the ranking surveys include top career services and overall satisfaction from alumni.
“It’s inspiring to see hard-working people in the MBA@Nebraska program with different backgrounds working together on assignments. I was thankful I could bring in a unique perspective from the military on our projects,” said Thu Pham, '20, who served in the U.S. Air Force and Space Force and now works at Amazon Web Services and chose the program in part due to its military-friendly history.
Today the fully online MBA@Nebraska program is offered through eight-week courses. Students who aren't ready to start a full program can also earn a 12-credit, four-course online certificate, which could be transferred into the MBA program.
Despite being an online program, students shared with Poets&Quants about keeping up with classmates online easily because its where their relationships started. They can also take advantage of some in-person experiences.
"We were able to bring back the blended adaptive leadership course that was first offered in 2019 and paused during the pandemic. This one-week residency is perfect for those who want to build relationships face-to-face without disrupting their professional and personal obligations," said Gretchen Holthaus, director of MBA and online graduate programs. "Our students can also make the most of optional in-person opportunities like national case competitions and career expeditions."
The Nebraska MBA faculty and staff are looking forward to reconnecting with the Nebraska MBA alumni at the MBA 60th Reunion on Nov. 2. Free Executive Education and Professional Development sessions offer the opportunity to return to the classroom and learn from current faculty before celebrating at the ticketed tailgate. Share your experience in the program by completing the MBA Alumni Questionnaire here.
"No matter what modality our alumni earned their degree with, they all earned it from a top MBA program of their era," said Holthaus. "We believe in 'Once a Husker, Always a Husker,' and we're excited to reconnect with more alumni."
Published: August 20, 2024