The Top 10 MBA Programs Driving Business Education and Economic Growth in Memphis

Memphis is home to a robust landscape of Master of Business Administration (MBA) programs catering to diverse student needs and career aspirations. As a higher education reformer, I have closely analyzed the top MBA programs in Memphis to identify strengths and weaknesses amid pressing challenges facing graduate management education.

Over the past decade, MBA programs across the nation have had to adapt to trends like rising tuition costs, shifting student demographics, technology disruptions, and growing competition from specialized master’s degrees. The COVID-19 pandemic also profoundly impacted business education, accelerating the adoption of online learning.

In this expert guide, I profile the excellence and reform opportunities within Memphis’ top 10 MBA programs while assessing how they equip students with cutting-edge business acumen and deliver economic benefits to the region.

Snapshot of Top MBA Programs in Memphis

The table below presents a high-level overview of Memphis’ top-ranked on-campus MBA programs based on metrics like enrollment, cost, and graduation rate:

MBA Program	Fall 2022 Enrollment	Cost: 1 Year Tuition & Fees	Graduation Rate	Faculty with PhDs	Student:Faculty Ratio
Fogelman College MBA, UofM	289	$9,060 (in-state) $21,352 (out-of-state)	67%	90%	16:1
Cecil C. Humphreys Law MBA, UofM	32	$9,060 tuition +$32,552 law	N/A	84%	13:1
Christian Brothers MBA	23	$17,500	67%	100%	13:1
Rhodes Flexible MBA	15	$48,000 total cost	N/A (new program)	70%	7:1
Union MBA	21	$465 per credit hour	N/A	100%	10:1
Bethel Online MBA	112	$510 per credit hour	N/A	96%	20:1
LeMoyne-Owen Baker MBA	37	$10,700 per year	35%	61%	17:1
MBA Charter Schools	N/A	N/A	N/A	50%	16:1
Logsdon Seminary MA	17	$435 per credit hour	N/A	100%	5:1
UofM Masters & Certificates	245	$479 per credit hour	71%	84%	10:1

*Enrollment and cost data from official program websites and national clearinghouse statistics. Other statistics from College Results Online database.

Compiling and contrasting key metrics on Memphis’ MBA options provides helpful insights for prospective students. For instance, programs range enormously in size and cost: from 15 to almost 300 students and $9,000 to over $60,000 total program cost.

The following sections provide an in-depth evaluation of each MBA program’s strengths and reform opportunities. I offer rigorous analysis given my expertise in higher education policy, administration, and economics.

1. Fogelman College of Business and Economics, UofM

The Fogelman College of Business and Economics, the 3rd oldest business school in the South, has long set the pace for management education in Memphis. Boasting AACSB accreditation since 1963, Fogelman currently enrolls over 289 MBA students in its on-campus program. Concentrations span accounting, analytics, finance, marketing, management and more.

Key Strengths

• State-of-the-Art Facilities: Fogelman has commenced construction on a striking, technologically immersive $33 million business school complex opening in 2024. This reflects the UofM administration‘s commitment to advancing its business programs.

• Career Readiness Programming: Memphis MBA students praised UofM‘s abundant experiential learning and job prep resources from the Benard Schlager Center for Professional Development. From resume workshops to speaker events to mentee matching services, Schlager helped students capitalize on Memphis‘ bustling business networks.

• Industry Partnerships: Fogelman has cultivated connections with over 500 corporations like FedEx, IBM, and Pinnacle Airlines to facilitate recruitment, sponsorships, and data access advancing experiential learning.

Addressing Challenges in Graduate Business Education

While Fogelman exhibits core strengths, expanding online coursework could enhance flexibility for working professionals. Pre-pandemic, only 15% of required credits were deliverable online; blending online delivery for some core courses could serve student needs post-COVID.

Moreover, Fogelman must expand access for minorities. In Fall 2021, just 28% of enrolled graduate business students were students of color compared to the UofM‘s overall minority graduate population of 42%.

2. Cecil C. Humphreys Law School, UofM

Besides traditional business programs, Memphis MBA candidates can pursue joint JD/MBA degrees supercharging leadership ability. The Cecil C. Humphreys Law School, housing dedicated advisors for joint programs, allows students to obtain their law degree and MBA concurrently in just 3 years.

Joint degree students have unparalleled opportunities to acquire legal and business acumen amplifying career versatility. Course sharing between disciplines reduces tuition costs compared to pursuing degrees separately. Those seeking upper-level management roles in law, finance, healthcare, real estate and other industries are prime candidates.

For working professionals, Cecil C. Humphreys offers a Flexible JD program blending online and evening courses making law school more accessible amid work and families. However, Cecil C. Humphreys presently does not indicate similar flexibility options for joint degree seekers. As flexible delivery grows increasingly pertinent after COVID, Cecil C. Humphreys has an opportunity to pioneer part-time and technology-enhanced joint degree offerings accommodating professionals.

3. Christian Brothers University

Christian Brothers University (CBU) is the oldest collegiate degree-granting institution in Memphis, founded in 1871 by the Lasallian Brothers. True to its heritage, CBU’s AACSB-accredited MBA program centers ethical responsibility, service, and real-world applicability across its curriculum.

CBU enrolled 23 MBA students in Fall 2022. Its crown jewel Professional MBA program blends core business theory with an integrative Consultancy Project. Students function as external consultants addressing a complex challenge at real Memphis corporations like FedEx, St. Jude Children’s Research Hospital, and Smith & Nephew.

Moreover, 100% of CBU’s full-time business faculty hold terminal degrees, though overall graduate tuition remains affordable at $17,500 yearly. Such experiential rigor combined with small class dialogue under highly qualified faculty allows Christian Brothers to deliver premium value.

As a reform opportunity, CBU could expand blending online coursework to spur enrollment and better serve busy working professionals post-pandemic. Presently, graduate business courses use little to no online technology.

4. Rhodes College

Continuing Memphis’ tradition of outstanding undergraduate institutions launching MBA programs, Rhodes College recently debuted an accelerated 16-month Flex MBA program in 2021 centered around analytics, innovation and leadership. The Rhodes Flex MBA enrolled an inaugural cohort of 15 students in Fall 2022.

The curriculum emphasizes data-driven decision making and human-centered design across all facets of business. Core courses like Consulting & Innovation and the Business of Data Analytics underscore how Rhodes aims to develop forward-thinking, entrepreneurial-minded graduates. Students also complete an intensive corporate consulting project helping drive process improvements and address problems for Memphis companies.

As a new program, Rhodes MBA tuition is substantially higher than other regional competitors at $1,125 per credit hour and $48,000 total cost. While the program intentionally remains small to facilitate cohort bonding and faculty interaction, expanding class size could boost enrollment.

5. Union University

Union University, located an hour east in Jackson, Tennessee also holds longstanding importance for Memphis residents. Union’s AACSB-accredited MBA uphold the institution’s Christ-centered mission; students explore how faith and business converge while developing analytical leadership skills.

Union keeps classes intimate with around 20 students enrolled across flexible evening and online courses. Students praise close relationships with faculty mentors developed through spiritual life programming and service work. Dual degree offerings also abound at Union, including an accelerated one-year MBA/MDiv for those pursuing business and ministry.

However, Union’s MBA program remains predominantly offline; just one-third of credits are deliverable online. Union could better accommodate working professionals by expanding online course breadth, particularly given robust virtual learning infrastructure investments during COVID.

6. Bethel University

Bethel University, based in McKenzie, TN, provides Memphis-area students with the convenience of a 100% online MBA. Accelerated 7-week courses appeal to professionals seeking schedule flexibility.

With 150 enrolled online MBA students, Bethel‘s program uniquely trains managers in context of Christian servant leadership. Students can tailor their MBA through 10 concentrations including healthcare administration, public administration, human services management, and criminal justice administration. Such options produce versatile, ethically grounded graduates for both private and public sector roles.

Prospective students should note that as an online program, Bethel MBA students lack the intimacy and networking of local campus opportunities. However, monthly seminars do convene online learners to promote engagement.

7. Baker School of Business, LeMoyne-Owen College

Memphis is also home to a leading historical black college, LeMoyne-Owen, educating students since 1862. LeMoyne-Owen promotes economic mobility for underserved populations through an accessible, career-focused business curriculum.

The Baker School of Business centers soft skills, professional etiquette and interview preparation realizing many students represent first-generation college attendees. Internships are another hallmark; the Memphis urban locale facilitates plentiful corporate partner experiences.

While overall bachelor’s enrollment has declined amid COVID impacts, LeMoyne-Owens continues providing under-resourced students affordable, advancement-oriented business training fundamental to the health of local communities.

8. Memphis Business Academy Charter Schools

Among Memphis secondary schools, the Memphis Business Academy (MBA) Charter Schools offer unparalleled preparation for young entrepreneurs. From elementary onwards, MBA integrates financial literacy, job shadowing and business electives alongside a rigorous core academic program to nurture homegrown talent.

MBA also provides workplace visits, mock interviews, internships and dedicated career guidance resources realizing college may be financially out of reach. Such experiential learning ensures students still gain skills for local white-collar roles not necessitating a 4-year degree.

As public charter schools, MBA does endure funding challenges; salaries trail below Memphis/Shelby County Schools straining talent retention. However, analysts posit allocating more federal and state-level grants for charters advancing career skills could help schools like MBA foster employer relationships and expand technical offerings.

9. Graduate School of Theology, Logsdon Seminary

Memphis Theological Seminary, recently rebranded as Logsdon after consolidation with Hardin-Simmons University, offers niche management training at the theological intersection. Logsdon’s Master of Arts in Theological Studies – Business Leadership explores the biblical foundations of commerce and management through a social justice lens.

Designed for laity businesspeople seeking to inject greater purpose and meaning in their work, students examine bible-based financial and leadership principles. Classes like “Theology of Administration” uncover scriptural guidance on stewarding organizations and managing employees.

Being housed under a Seminary, Logsdon’s program remains niche given overt faith integration. However, pastors and other ministry workers could also derive great utility from the business training.

10. UofM Masters & Graduate Certificates

Finally, while not full-degree MBA programs, the University of Memphis’ Graduate School facilitates numerous shorter business-specialized credentials generating managerial skills.

For example, the Professional Master of Science allows business professionals to pursue concentrations in HR Management, Executive Leadership, Software Testing and more. Many enroll just to check a box for a promotion. Memphis also offers 15+ specific Graduate Certificates covering everything from Entrepreneurship to Financial Planning to Project Management.

Such focused graduate credentials can prove cheaper and quicker than a traditional MBA, appealing to employers seeking niche technical skills. Enrollment in Masters and Certificates exceeds 245 students.

Analyzing Memphis’ MBA landscape uncovers both strengths and reform opportunities to better serve student needs and fuel local economic success. Key takeaways include:

Managing Cost & Flexibility: While Memphis MBAs generally offer good value compared to major metros, costs still deter cash-strapped talent. Programs should expand variable delivery models like online and part-time study to boost accessibility for working professionals. More assistantships and scholarships are also needed to attract diverse low-income applicants.

Increasing Student Support: High dropout and low graduation rates at some institutions underscore the need for expanded mentoring, tutoring, career prep and other support infrastructure to promote completion and employment. This is particularly pressing for minority-serving colleges like LeMoyne-Owen which posts just a 35% graduate rate.

Customizing for Local Needs: Memphis remains logistics and distribution hub; specialized coursework in supply chain management could enhance alignment with this ecosystem. Programs should also foreground experiential learning via corporate projects and partnerships to embed students in local networks.

Centering Social Responsibility: MBAs represent society’s future captains of industry; infusing curriculum with community orientation and ethical decision-making models must stay a priority. From service internships to sustainability coursework, connecting business education with societal impact remains pertinent.

With the Port of Memphis shipping over $1 billion in goods daily, the metro depends profoundly on continual pipelines of business management and logistics talent driving operations. MBA grads occupy director positions across transportation, finance, manufacturing, agriculture and other local industries powering productivity.

For example, Rhodes Flex MBA alumni now compose 20% of managers at Transplace, one of the nation’s largest third-party logistics providers based in Memphis. Such individuals optimize intricate freight networks, relationships and data flows to economize trade.

Likewise, managers trained at LeMoyne-Owen and Christian Brothers champion inclusive hiring and advancement within Memphis minority communities. Their lasting mentoring relationships and internship placements translate into more diverse mid-level management penetrating local corporations over time.

In sum, Memphis MBA programs deliver manifold benefits: enhancing individual social mobility for graduates, grooming leadership to steer growth-oriented companies, and incubating ethical, reform-minded talent advancing institutional values across Memphis commerce.

Sustained investments into continuous improvement of these MBA programs in light of 21st century higher education challenges remains integral for the flourishing of not just students, but the entire Memphis regional economy.