McGill University has issued a statement, pasted below, responding to the provincial government’s decision to fine the institution $2.1 million for raising MBA tuition by 900 per cent.
McGill University is perplexed and disappointed with the response of the Government of Quebec to the changes made by McGill to transform the University’s MBA program. Rather than celebrate the dramatic progress and success McGill has achieved in a short period of time with its renewed and self-funded MBA, the government has imposed a significant fine against one of its own universities.
This action puts an arbitrary, elective and unprecedented exercise of authority of government as a priority over demonstrated quality and program performance.
Since McGill moved to a self-funded program, it has developed an MBA that is attracting top-calibre students from Quebec (some of whom have otherwise gone outside the province for their MBA), and from elsewhere.
The McGill MBA’s improvements include: leaping from 95th to 57th in the prestigious Financial Times rankings; maintaining stable enrolment rates; having McGill graduates enjoy the highest job placement rates and highest starting salaries in Canada; being ranked by FT as the only Quebec MBA program in the Top 100 in the world.
To sustain the University’s increased investments in its program, McGill moved last fall to a self-funded tuition model under which it does without any government subsidies for its MBA students, thus saving Quebec taxpayers about $1.2 million annually.
McGill has created, at the same time, student aid at a unique level of support for any Quebec university program, on a per-student basis. The McGill MBA program provides an average of $12,000 per student in financial aid.
Quebecers deserve better than to have a top quality program fined. Quebecers deserve a world-class MBA program and McGill is providing it. McGill has demonstrated that it can do so without limiting accessibility, and without doing so on the backs of our undergraduate students.
McGill’s rejuvenated program, now with better facilities, improved student-teacher ratios, top-level professors, improved advising and novel educational elements, costs significantly less than top MBA programs elsewhere in Canada, and the world.
McGill will continue to meet the interests of our students, and of Quebec.