Through their own schooling and education, senior-level education leaders at schools, school districts, and higher education institutions are generally equipped to teach and create better, improved curriculum. Leaders at this level are increasingly responsible for also making financial decisions that revolve around creating a safer, modern, and equitable environment for students and staff in a post-COVID era.
However, most educators and administrators lack the expertise to make financial and budgetary decisions. To address this gap, Texas Christian University (TCU) created a not-so-common dual degree program in 2000, in which students earn advanced degrees in business and education—a master of business administration (MBA) and a doctorate of education (Ed.D.).
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“The joint degree program is meant to give MBA/Ed.D. students a combination of business training and organizational concepts intertwined with traditional educational training,” says Ashley Tull, chair of the department of educational leadership and higher education and professor of professional practice at Texas Christian University. “They get content at the intersection of corporate America as well as the education system.”
Texas Christian’s educational leadership Ed.D./MBA program is a collaboration between the university’s Neeley School of Business and College of Education. Fortune ranksTCU as having a top-ranked full-time MBA program. Here’s what you need to know about the program.
How TCU’s MBA/Ed.D. program works
In the MBA/Ed.D. program, students complete the MBA and the Ed.D. sequentially, in that order. Therefore, the programs don’t overlap in terms of timing or coursework. However, some research courses can count toward both degrees. Students must generally dedicate between four to six years of study to graduate from the dual degree program.
When completing the MBA, students have a series of final projects rather than a culminating one. In the Ed.D. segment, however, they complete a concluding dissertation.
“It would be to the students’ opportunity and advantage to try to look for synergies in how they can use their MBA projects to facilitate what they’re doing with their Ed.D. dissertation,” says David Allen, senior associate dean for graduate programs and Henderson chair of management and leadership at TCU. Students have an advisor for the MBA portion and another for the Ed.D. part of the program.
In terms of the application process, students apply for both the MBA and Ed.D. programs at the same time. “They are screened by both programs,” Tull tells Fortune. “So they are almost doubly evaluated with entry into the program.”
In the 20-plus years since the dual-degree program has been offered, all enrolled students have completed both degrees, although technically, they could complete the MBA and not finish the Ed.D.
While there’s no specific financial package for the MBA/Ed.D. program, students can secure financial aid or scholarships through each school. They may also find tuition waivers or reimbursement programs from employers that will cover full or partial tuition. Students may also be able to secure federal or state-level financial aid. Additionally, TCU staff can qualify for tuition assistance as an employment benefit.
Who is a good fit for TCU’s MBA/Ed.D. program?
The program is rigorous and requires a large financial and time investment because of its duration. It typically has less than 10 students per year.
“The MBA/Ed.D. is for people who have a strong, clear aspiration to pursue a leadership role in education,” says Allen. Students get exposure in an MBA program to strategy, budgeting, finance, and even marketing—and this adds a beneficial perspective to the coursework in the Ed.D. educational leadership program, he notes.
Students generally enter the dual-degree program in a mid-level management position, and they are seeking skills and the certification to attain senior-level roles. In kindergarten to secondary education, for example, accepted students may hold the role of school principal and aspire to become a superintendent or a state-level leader. In post-secondary education, students enrolling in these programs may be at the departmental director-level and want to advance to the roles of a dean, vice president, president, or chief executive of a college or university, says Tull. With the MBA/Ed.D., graduates have the terminal degree and the skills required for these roles.
TCU’s program is designed for students who want to have a solid grasp of education theories and its professional practice, as well as the business component. The MBA allows students to dive deeper into topics that are marginally touched on in the Ed.D. program, such as accounting, marketing, and operations. It also exposes students to business models in other sectors and industries that can provide insights into education, such as technology, financial services, and health care, says Allen.
“With the importance of fundraising, legal, and other matters now, many college presidents are coming from a business finance track,” Tull adds. “So those who aspire to be in leadership roles want to make sure they develop the skills on the business side that will compliment the educational leadership side.”
Check out all of Fortune’s rankings of degree programs, and learn more about specific career paths.
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