The University of Chicago’s Booth School of Business may open a campus in Hong Kong as it tries to lure more executives.
In Booth’s recently published annual report, Dean Sunil Kumar said the school is looking to expand its nondegree executive education courses. Fees collected from executive education rose 33 percent to $20 million for the two years ended in June, making it one of the school’s fastest-growing sources of revenue in that period, according to the report.
The school is pushing to create more custom courses for multinational corporations, which may make it more competitive with executive programs such as those offered by the University of Pennsylvania’s Wharton School and Northwestern’s Kellogg School of Management. Those two programs now offer custom courses for 127 and 71 companies, respectively, compared with 42 for Booth, according to data provided by the schools to Bloomberg Businessweek. Executive education has also been among the fastest-growing sources of revenue for Harvard Business School.
Booth is also considering moving the school’s Asia campus, which offers both EMBA and executive education programs, to Hong Kong after its current lease in Singapore expires in 2015. It also may try to recruit more EMBA students from Latin America, says Patty Keegan, Booth’s associate dean of the Executive MBA program.
Booth’s annual report shows that the school brought in a total of $232 million for the fiscal year ended in June, up 2.7 percent from a year earlier. HBS brought in $546 million, up 7.3 percent from a year earlier. However, the majority of its revenue was from publishing sales, a unit many business schools don’t have. Wharton and Stanford’s Graduate School of Business do not publish comparable information online.