Top Universities In Ontario For Business – A degree program in Ontario costs more than any other. I wanted to know why. This is the answer.
The Richard Ivey School of Business (Ivey) is part of Western University in London, Ontario. Compared to other baccalaureate programs at the university, Ivey’s annual tuition is double that of the next most expensive option and four times that of most programs.
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Compared to the state’s business programs, Ivey’s annual cost is three times that of most Ontario universities.
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In addition to Ivy, Smith at Queen’s University, Rotman at the University of Toronto, and Conrad at the University of Waterloo are considerably more expensive. Considering that Ivey is a “second entry” program (meaning students spend the first two years of their four years at another university), the prices for these highly rated business programs are staggering.
While the cost of a degree is comparable among these four schools, Ivey remains unique. By taking over only the last two years of a bachelor’s degree (and focusing high tuition rates only on those years), Ivey’s per-student program resources increase disproportionately.
Nuances aside, there are currently four business schools in Ontario that charge twice as much for a degree as anywhere else. Examining the first available data (the 2006-2007 academic year) confirms that this is not a new phenomenon.
Since the 1960s, Ontario’s tuition policy has placed practical limits on how much schools can charge students. Caps were assessed annually to allow for limited increases. Schools didn’t have to take full advantage of the price increases, but almost all did. Statewide enrollment was relatively undifferentiated.
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In 1995, Western’s Business School (later Ivey) hired Tapp, the first non-academic dean in its history. Tapp, a Canadian businessman known for running an international packaging company, saw business schools as part of the global marketplace. He believed current policies ignored the way universities compete globally for star professors just as graduates compete globally for jobs at prestigious companies. Without intervention, Canada would have been left behind.
As such, Tapp defined a “quality education” as one that could compete with the best schools in the United States and abroad. He tried to provide that education to Ivey.
Knowing that funding was maxed out, he and like-minded colleagues at other universities lobbied the government for flexibility to charge higher tuition. His timing was perfect.
The year Tapp was appointed, Mike Harris became Premier of Ontario and was elected on the promise of a balanced budget for small government. A university that increases its revenue by increasing tuition, rather than increasing state funding, fits his plan well. In 1998, three years after Tapp and Harris took over, the Additional Cost Recovery (ACR) program was introduced, changing the tuition paradigm in Ontario.
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The concept of ACR was simple. Universities have been able to increase revenue by choosing programs that are either (i) expensive to run or (ii) offer very high earning potential to their graduates. Tuition may be increased at any level for eligible programs. The only condition was to set aside a percentage of the new revenue for financial support to support affordability.
Undergraduate work was included in the ACR program. Lawrence Tapp didn’t miss a beat. Neither do Smith’s and Rotman’s colleagues, the data show.
A new government took power in 2003, froze tuition fees and eventually reregulated all programs. Importantly, however, the ACR changes were never reversed. Future tuition increases were to be based on 2003-2004 tuition rates. Differentiation blocked.
The impact of the ACR changes is serious. As a good example, compare Schulich at York University with Rotman at the University of Toronto.
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Since the ACR, both schools have made the largest enrollment increase allowed under the policy for each year for which data is available. As such, both nearly doubled their tuition rates between 2006-2007 and 2019-2020. But for Rothman, that doubling means an extra $7.6K, while for York it’s only an extra $4.1K.
At the height of his lobbying efforts, Tapp wrote an op-ed outlining his vision of what tuition fee deregulation would allow over time.
“College education is in a virtuous circle. Schools that attract excellent students from around the world also attract internationally renowned faculty. These schools can charge high tuition fees because graduates are recognized for the value of their degrees that have the best salaries from recruiters at the most sought-after companies Alumni will create an elite network of alumni in the corporate and professional world, further enhancing the school’s appeal and expanding its funding base “.
The data confirms that the donation expanded the school’s funding base compared to other university programs. Last year Ivey released independent West figures (2013-2014), Ivey’s endowment revenue per student was nearly five times that of the rest of the university.
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The data also confirms that Ivey graduates earn higher salaries than their peers (for the most recent classes with comparable data).
Why is Ivey more expensive? In the 1990s, Ivey appointed a businessman as chairman. The economy has become global. The competition became more intense. In his quest for international relevance for Ivey and Canada, he sought to increase the school’s resources through higher tuition rates.
And how? This dean and his associates put pressure on the state government. His views correspond to the ideology of this government. Programs have been introduced that allow for higher tuition rates. Ivey is one of the schools that increased enrollment before the program ended.
This is the story. Expensive schools, of course, raise issues of affordability and elitism. This is the vice of Tap’s “virtuous circle”. I won’t go into detail here, but I will share guidance on a few topics that I find particularly interesting/important.
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Thanks to Andrew M. Boggs. I’ve never met you, but over ten years ago, while finishing your PhD at Oxford University, you wrote:
If you like it, please consider copying the page link and sending it to two people. It’s like a multi-level marketing scheme, but easier to read. It is Canada’s leading university and a world leader in engineering, health sciences and business. Home of the top-ranked Ivey School of Business.
The Ivey MBA is recognized as one of the best business management schools in Canada and around the world. Students have the opportunity to join Ivey’s business program by enrolling in the Honors Business Administration (HBA) degree program at the baccalaureate level. We offer an exceptional combination of academic excellence and world-class placement opportunities.
Students have the option to apply for conditional admission to Ivey during their senior year of high school as part of the Advanced Admission Opportunity (AEO).
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No. 1: Bloomberg Businessweek ranked our MBA program #1 International MBA Program (outside the US) for the second year in a row.
Rank 1: In the 2016 Bloomberg Businessweek recruiter survey, Ivey MBA graduates ranked first in leadership, strategic thinking, collaboration and communication skills.
#1: Our MBA program is the highest paying Canadian business school in the third year of graduation and the highest satisfaction rating for career management services, according to the 2016 Financial Times ranking.
In 2015, the school won a bronze medal in the Nurturing Employability category at the prestigious Wharton-QS Stars ReImagine Education Awards.
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