{"id":21865,"date":"2023-08-16T15:39:20","date_gmt":"2023-08-16T13:39:20","guid":{"rendered":"https:\/\/www.munich-business-school.de\/insights\/?p=21865"},"modified":"2023-08-16T15:40:34","modified_gmt":"2023-08-16T13:40:34","slug":"german-economic-institute-iw-study-private-universities-provide-excellent-preparation-for-the-future-world-of-work","status":"publish","type":"post","link":"https:\/\/www.munich-business-school.de\/insights\/en\/2023\/german-economic-institute-iw-study-private-universities-provide-excellent-preparation-for-the-future-world-of-work\/","title":{"rendered":"German Economic Institute (IW) Study: Private Universities Provide Excellent Preparation for the Future World of Work"},"content":{"rendered":"\n

A study by the German Economic Institute (IW) study has highlighted how private universities can help to build resilience in the context of societal transformation. The report also highlights how universities\u2019 offerings in this area have developed in recent years.<\/strong><\/p>\n\n\n\n

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The idea of studying at a private university is associated with certain preconceptions: the private system is too elitist, too expensive and lacks academic rigor. But is there anything to these sharp-tongued criticisms? Is the investment of several (tens of) thousands of euros worthwhile? And how do prospective students perceive private universities \u2013 especially in relation to their career prospects? The Cologne-based German Economic Institute (IW)<\/a> has now conducted a study on behalf of the German Association of Private Universities (VPH)<\/a> to cast light on these very issues.<\/p>\n\n\n\n

Demand for places at private universities higher than ever<\/h2>\n\n\n\n

One thing became clear at the very outset: private university education is booming. Within a decade, between the fall terms in 2011\/12 and 2021\/22, the number of students at private universities has increased almost threefold. Overall student numbers have only risen by around a quarter over the same period. Consequently, the proportion of students at private universities has more than doubled, from 5.3% to 11.6% of all students.<\/p>\n\n\n\n

The student body at private universities is also more diverse than is often presumed. For example, 27% of students enrolled at private universities are over the age of 30, with many already in work. This can be attributed to the complementarity of study programs at private universities compared to those offered by public institutions. For example, private universities are more likely to offer distance-learning and part-time courses than their public counterparts.<\/p>\n\n\n\n

Private universities specializing in economics-related fields \u2013 such as Munich Business School \u2013 hold particular significance in the private university landscape. More than one in three students at private universities are enrolled in such programs, while the figure at public universities is only around one in eight.<\/p>\n\n\n\n

Career orientation a key factor in choosing a private university<\/h2>\n\n\n\n

By examining a reference group, the IW study was able to demonstrate how the motivations of people who study (or have studied) at a private university differ from those of people who opted for a public institution. Overall students at private universities tend to be more career-oriented: 78% expressed a desire to progress in their current profession (compared to 75% for students at public universities). This motivation was followed by the expectation of a good salary and a desire to make a difference, prepare for the uncertainties of the working world and lay the foundations for future self-employment. A more pronounced focus on professional life is also reflected in a stronger motivation among private university students.<\/p>\n\n\n\n

Respondents believe academic education has significant role to play in a VUCA world<\/h2>\n\n\n\n

There is some concern, including among university graduates, about how the future world of work \u2013 and gainful employment more widely \u2013  will change as a result of economic, social and technological upheaval. Younger respondents, who have more of their working life ahead of them, expressed the most concern on this issue.<\/p>\n\n\n\n

All respondents to the IW study, whether or not they hold a university degree, indicated a belief that academic education has a very significant role to play in managing the challenges of this transformation. It is interesting to note that some respondents \u2013 but especially those with a private university education \u2013 believe that this significance extends beyond issues related to the labor market. In fact, over 60% of people who have studied at a private university consider academic education to have a stabilizing effect on life, an opinion shared by less than 50% of students at public universities.<\/p>\n\n\n\n

Flexibility, a practical focus, international networks, a good student-faculty ratio and innovative organization identified as determining characteristics of future education<\/h3>\n\n\n\n

Respondents identified the following factors as particularly important for university education to build resilience:<\/p>\n\n\n\n