2016 april grayreports - student demand trends

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GRAYREPORTS Demand for Higher Education Programs www.GrayAssociates.com Results through April 2016

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GRAYREPORTS Demand for Higher Education Programs

www.GrayAssociates.com

Results through April 2016

617.366.2838 www.GrayAssociates.com 2

GRAY For more information please contact Gray Associates. Email: [email protected]

Who Is Gray?

GrayData

Employment BLS/O*NET

Placement Rates Gray Research

Student Inquiries GrayReports

Demographics US Census

Job Postings CEB TalentNeuron

Students Programs Strategy Locations §  Segment selection §  Price elasticity §  Market share

§  City targeting §  Location selection §  Consolidation

§  Program selection §  Program development §  Market reports

§  Business strategy §  Strategy implementation §  Pricing

Advanced Analytics Predictive Models

Geo-Analytics

Clients: Higher Education Institutions and Stakeholders

Competition IPEDS+

Program Evaluation System

§  Custom Scoring

§  Scorecards

-  By Program

-  By Market

-  100+ Markets

-  1,000+ Programs

Enhanced Crosswalks

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GRAY For more information please contact Gray Associates. Email: [email protected]

What Is GrayReports?

GrayReports tracks demand for higher education. §  Today’s webinar and monthly industry trend reports are free. §  Paid subscribers have online access to detailed data for their programs and markets.

Over 45 million qualified inquiries January 2012 to the present

Over 700,000 new inquiries in April 2016 Nearly 200 programs with over 10,000 inquiries Over 700 metro areas with over 10,000 inquiries

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GRAY For more information please contact Gray Associates. Email: [email protected]

Agenda

1.  National Inquiry and Conversion Trends

2.  Inquiries and Conversions: Online vs. On-Campus Programs

3.  Views by Program and Segment

4.  Trends in Employment and Job Postings

5.  Summary

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GRAY For more information please contact Gray Associates. Email: [email protected]

Overall Student Inquiries (All Sources)

Overall inquiry volumes for higher education fell 12% year-over-year. §  Inquiries have decreased every month in 2016.

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

National Inquiries All Programs and Award Levels 2014 2015 2016

-12% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

Branded Inquiries

Branded inquiries decreased 10% year-over-year in April. §  After increasing for 7 consecutive months, branded inquiries were down for the second straight month. §  Branded inquiries have also been flat month-over-month since February.

0

50,000

100,000

150,000

200,000

250,000

300,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

National Branded Inquiries All Programs and Award Levels 2014 2015 2016

-10% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

External Inquiries: Overall Results

External inquiries decreased for the fifth consecutive month. §  This was the lowest April volume in over four years. §  External inquiries have dropped year-over-year in 14 of the last 16 months.

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

National External Inquiries All Programs and Award Levels 2014 2015 2016

-13% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiry to Application: Overall Conversion Rates

Overall conversion rates have been volatile. §  Since Q1 2014, quarterly rates have risen as much as 20%. §  The most recent mature quarter was even with Q1 2014. §  The first mature month in 2016 is up 3%.

80

85

90

95

100

105

110

115

120

125

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Jan-16

Overall Inquiry Conversion Rates: Trends (Indexed to Q1 2014)

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

2.  Total includes unknown source type.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiry to Application: Conversion Rates for Branded Inquiries

In Q4 2015, conversion rates reached their lowest point in over two years. §  Branded inquiries are inquiries that come directly to institutions (school websites and call centers). §  As schools have worked to get more branded inquiries, average quality has fallen. §  There was an uptick for Q3 2015 inquiries, but it has not been sustained.

9.0% 8.2% 8.3% 8.2%

6.9% 7.1%

8.2%

6.7% 6.4%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Jan-16

Branded Inquiries: Conversion Rates

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GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiry to Application: Conversion Rates for External Inquiries

After trending up into mid-2015, conversion rates for external inquiries have leveled off. §  External inquiries are inquiries that are generated by third parties, often referred to as PPI inquiries. §  Institutions have been turning to higher-quality inquiry providers, driving up conversion rates. §  Schools need admissions channels that can cost-effectively manage these “lower-octane” inquiries.

1.8% 1.9%

2.1% 2.2% 2.0%

2.3% 2.4%

2.0% 2.1%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Jan-16

External Inquiries: Conversion Rates

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GRAY For more information please contact Gray Associates. Email: [email protected]

Overall Student Inquiry Conversions (All Sources)

For January inquiries, total student conversions decreased 8% year-over-year. §  This was the lowest number of conversions for January inquiries in over four years. §  Conversions of February inquiries might reach last year’s levels once matured, but March and April have a lot of

ground to make up to do the same.

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

0 5,000

10,000 15,000 20,000 25,000 30,000 35,000 40,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Total Inquiry Conversions All Programs and Award Levels

2014 2015 2016

-8% YoY

Immature Months1

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GRAY For more information please contact Gray Associates. Email: [email protected]

Average Price for Pay-per-Inquiry

The price of an external inquiry increased 3% year-over-year. §  After a slight spike for February inquiries, average price is back near $45. §  Better inquiries may cost more—and institutions are competing for fewer inquiries.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 $41.72 $41.81 $41.70 $42.45 $40.94 $44.23 $44.25 $44.00 $45.34 $45.43 $44.79 $42.18 2015 $43.10 $43.50 $43.70 $43.61 $43.80 $43.63 $45.07 $44.75 $45.24 $44.92 $44.67 $44.75 2016 $45.11 $45.91 $44.80 $44.95

$44.95

$0 $5

$10 $15 $20 $25 $30 $35 $40 $45 $50

Average Price per Inquiry for PPI All Programs and Award Levels

Note: PPI means “Pay per Inquiry.” Inquiry price is the average price per inquiry from PPI.

617.366.2838 www.GrayAssociates.com 13

GRAY For more information please contact Gray Associates. Email: [email protected]

Agenda

1.  National Inquiry and Conversion Trends

2.  Inquiries and Conversions: Online vs. On-Campus Programs

3.  Views by Program and Segment

4.  Trends in Employment and Job Postings

5.  Summary

617.366.2838 www.GrayAssociates.com 14

GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiries for Online Programs Education Industry Inquiries: YOY Percent Change Inquiries for online programs fell 9% year-over-year in April. §  While the last four months in 2015 showed big year-over-year increases, it now appears that those were driven

more by big drops in the prior year than sustainable growth in 2015. §  However, April did match its 2014 volumes for the first time this year.

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Inquiries

Inquiries for Online Programs All Programs and Award Levels

2014 2015 2016

-9% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiry to Application: Conversion Rates for Online Programs

Conversion rates for inquiries for online programs are returning to 2014 levels. §  Conversion rates have mostly ranged between 2.4% and 2.9% over the past two years. §  The spike for Q3 2015 inquiries to 3.3% appears to have been an anomaly, and conversion rates since then have

been consistent with the earlier pattern.

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

2.0%

2.9% 2.8%

2.5% 2.4% 2.4%

3.3%

2.8% 2.5%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Jan-16

Conversion Rate Trends for Online Programs

617.366.2838 www.GrayAssociates.com 16

GRAY For more information please contact Gray Associates. Email: [email protected]

Student Inquiry Conversions for Online Programs

Conversions for online programs fell 6% in January. §  This ended a five month streak of conversion growth.

─  Conversions of February inquiries look like they will also be below year-before levels. ─  Conversions of March inquiries are on track to come in close to last year.

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

10,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Inquiry Conversions for Online Programs All Programs and Award Levels

2014 2015 2016

Immature Months1

-6% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiries for On-Campus Programs

Student inquiries for on-campus higher education programs dropped 10% year-over-year. §  All four months so far in 2016 have fallen below year-ago and 2014 levels. §  March had recovered slightly compared to January and February, but April is back down to a double-digit

percentage decrease.

2012

0 50,000

100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Inquiries

Inquiries for On-Campus Programs All Programs and Award Levels

2014 2015 2016

-10% YoY

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GRAY For more information please contact Gray Associates. Email: [email protected]

4.3% 4.0%

4.4% 4.7%

3.8% 3.6% 3.7%

3.4% 3.6%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

5.00%

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Jan-16

Conversion Rate Trends for On-Campus Programs

Inquiry to Application: Conversion Rates for On-Campus Programs

Conversion rates for on-campus program inquiries have been stable since Q1 2015. §  For 2014 inquiries, conversion rates for on-campus programs ranged 4.0% to 4.7%. §  For 2015 inquiries, conversion rates were substantially lower: 3.4% to 3.8%. §  January 2016 inquiries converted at a rate consistent with the lower 2015 norm.

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

617.366.2838 www.GrayAssociates.com 19

GRAY For more information please contact Gray Associates. Email: [email protected]

Student Inquiry Conversions for On-Campus Programs

Conversions for on-campus programs continued to decline—down 22% YoY in January. §  Inquiries from the past three months are on track to reach last year’s conversion levels.

0 2,000 4,000 6,000 8,000

10,000 12,000 14,000 16,000 18,000 20,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Inquiry Conversions for On-Campus Programs All Programs and Award Levels

2014 2015 2016

1.  Applications are counted in the month in which the inquiry was received (i.e., an inquiry that is received in January and converts in March will be counted as a January inquiry). Typically, the application rate will rise for at least three months after the month in which the inquiries were received.

-22% YOY Immature Months1

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GRAY For more information please contact Gray Associates. Email: [email protected]

Agenda

1.  National Inquiry and Conversion Trends

2.  Inquiries and Conversions: Online vs. On-Campus Programs

3.  Views by Program and Segment

4.  Trends in Employment and Job Postings

5.  Summary

617.366.2838 www.GrayAssociates.com 21

GRAY For more information please contact Gray Associates. Email: [email protected]

The Big 5 Programs: April Growth

Two of the big five programs grew slightly after big changes in the prior year. §  Criminal Justice/Police Science grew 12% and Registered Nursing grew 7% year-over-year. §  Medical Assistant and Administrative Assistant continued to fall.

-67%

93%

22%

-13%

1% 12% 7%

-6%

-23% -31%

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

120%

Criminal Justice/Police Science.

Registered Nursing/Registered Nurse.

Business Administration and Management, General.

Medical/Clinical Assistant. Administrative Assistant and Secretarial Science, General.

Five Largest Programs Since January 2012 Year-over-Year Change in April Inquiries

2015 YoY % Change 2016 YoY % Change

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GRAY For more information please contact Gray Associates. Email: [email protected]

10% 38% 47%

297%

79% 63% 61% 56%

-50%

0%

50%

100%

150%

200%

250%

300%

350%

Counseling Psychology. Music, General. Computer Programming/Programmer, General.

Truck and Bus Driver/Commercial Vehicle Operator

and Instructor.

Liberal Arts and Sciences/Liberal Studies.

The Fast 5 Year-over-Year Change in April Inquiries

2015 YoY % Change 2016 YoY % Change

The Fast 5 Programs: The Higher Education Programs with the Fastest Inquiry Growth

Five new programs showed up in the five fastest growing programs. §  Counseling Psychology grabbed the top spot and almost tripled in April. §  Such rapid growth often reflects changes in competitive marketing activity and reporting. §  The other four programs grew more than 50% in April.

1.  Includes only the top 75 programs (ranked on total inquiry volume since January 2012).

617.366.2838 www.GrayAssociates.com 23

GRAY For more information please contact Gray Associates. Email: [email protected]

Student Inquiries: The Big 5 Cities

Once again, the biggest cities were down year-over-year. §  April did not change much from what we saw in March. §  For the second straight month, Chicago had the largest decline and Philadelphia had the smallest.

-13%

-28%

-3%

-8% -5%

-8%

-22% -24%

-30% -33%

-40%

-30%

-20%

-10%

0%

10%

Philadelphia, PA Los Angeles, CA New York, NY Atlanta, GA Chicago, IL

Top Five Cities for Inquiries Since January 2012 Year-over-Year Change in April Inquiries

2015 YoY % Change2 2016 YoY % Change

Note: The market for each city is defined as a 15-mile radius around the population center of its CBSA.

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GRAY For more information please contact Gray Associates. Email: [email protected]

The Fast 5 Cities for All Inquiries

Three northeast markets were among the five fastest growing cities in April. §  Providence and Hartford replaced Oklahoma City and Tulsa in the Fast 5 cities. §  All five cities grew 10% or more.

1. Includes only the top 75 cities by inquiry volume since January 2012. Data includes a 15-mile radius from the center of the CBSA.

1%

-6%

-19%

-34%

-8%

21% 19% 16%

11% 10%

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

Boston, MA Providence, RI New Orleans, LA Minneapolis, MN Hartford, CT

Five Fastest-Growing Cities for All Inquiries Year-over-Year Change in April Inquiries

2015 YoY % Change 2016 YoY % Change

New New

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GRAY For more information please contact Gray Associates. Email: [email protected]

-35%

-28%

-13%

-11%

-10%

-8%

-6%

4%

10%

10%

-40% -30% -20% -10% 0% 10% 20%

Unknown Degree Associate's External Campus Online Certificate Branded Doctorate Bachelor's Master's

Quarterly Change in Inquiries 2014/2015 vs. 2015/2016 (February – April)

Inquiry Volumes by Category – Trailing 3 Months

Quarterly inquiries for higher-level degrees continued to grow. §  Higher-level degrees continued to have the highest inquiry growth. §  Once again, internal inquiries declined slightly. §  For the quarter, both on-campus and online programs fell.

617.366.2838 www.GrayAssociates.com 26

GRAY For more information please contact Gray Associates. Email: [email protected]

Inquiry Volumes by Channel - Trailing 3 Months

For the most part, branded inquiry channels outperformed external inquiries. §  Social Media continued to be the fastest-growing channel. §  Four different branded inquiry channels grew in April.

-77% -37%

-32% -23% -21% -19%

-14% -10%

-9% -6%

0% 2%

40% 71%

78%

-100% -80% -60% -40% -20% 0% 20% 40% 60% 80% 100%

Display: Branded Offline Media: Branded Email: Branded Inbound Phone: Branded Referral: Branded Affiliate: External All Other Internal: Branded PPC: Branded Affiliate - PPC: External PPL: External Website: Branded Interactive: Branded Organic: Branded PPC - Inbound Call: Branded Social Media: Branded

Quarterly Change in Inquiries by Channel All Programs and Award Levels

(February – April, YoY)

617.366.2838 www.GrayAssociates.com 27

GRAY For more information please contact Gray Associates. Email: [email protected]

Agenda

1.  National Inquiry and Conversion Trends

2.  Inquiries and Conversions: Online vs. On-Campus Programs

3.  Views by Program and Segment

4.  Trends in Employment and Job Postings

5.  Summary

617.366.2838 www.GrayAssociates.com 28

GRAY For more information please contact Gray Associates. Email: [email protected]

BLS Projections of Employment Changes Have Limited Value

BLS forecasts are a weak predictor of future employment.

R² = 0.50218

-200,000

-100,000

0

100,000

200,000

300,000

400,000

500,000

-50,000 0 50,000 100,000 150,000 200,000

Actual Change in Employment

2012-2015

Projected Change in Employment 2012-2015

BLS Actual Employment Change vs. Projected Change for 2012-2015 By Detailed Occupation Group

Actual = Predicted

Home Health Aide

Stock Clerks and Order Fillers

Source: BLS Occupational Employment Statistics and BLS Employment Projections 2012-2022

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GRAY For more information please contact Gray Associates. Email: [email protected]

Job Postings Are Quite Consistent Over Time

New Job Postings in 2012 were a better predictor.

R² = 0.91286

0

250,000

500,000

750,000

1,000,000

1,250,000

1,500,000

0 250,000 500,000 750,000

2015-16 New Job Postings

2012-13 New Job Postings

New Job Postings By 8-Digit SOC*

Home Health Aides

Stock Clerks and Order

Fillers

Source: WANTED Analytics. Excludes SOC 53-3032.00 Commercial Truck Drivers.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Overall Largest Occupations by Job Postings

The largest occupations, trucking and nursing, had over 1 million job postings in the past year. §  Computer-related occupations also ranked high, occupying three of the top ten spots.

492,203

505,619

519,307

522,770

576,040

628,268

754,170

814,311

1,355,178

1,466,785

0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000

Computer Systems Analysts

Accountants and Auditors

First-Line Supervisors of Food Preparation and Serving Workers

Computer User Support Specialists

First-Line Supervisors of Office and Administrative Support Workers

Software Developers, Applications

First-Line Supervisors of Retail Sales Workers

Customer Service Representatives

Registered Nurses

Heavy and Tractor-Trailer Truck Drivers

National Job Postings by Standard Occupation Code May 2015 to May 2016

Job Postings (Volume) Source: CEB TalentNeuron, Gray Analysis. Note that data shown is for all MSAs, so it excludes rural areas.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Occupations with the Greatest Growth over the Past Year (Among the Top 100 SOC Occupations) The strongest occupations saw job posting increases of about 30%. §  Healthcare and information technology occupations grew fastest.

12%

13%

13%

14%

16%

20%

25%

25%

27%

30%

0% 10% 20% 30% 40%

Registered Nursing

Software Developers, Systems Software

Physical Therapists

Construction Managers

Advertising Sales Agents

Medical Records and Health Information Technicians

Medical Scientists, Except Epidemiologists

Information Security Analysts

Pharmacists

Pharmacy Technicians

Percentage Increase in Job Postings by SOC May 2015-May 2016 vs. Prior Year

Year-Over-Year Change Source: CEB TalentNeuron, Gray Analysis. Note that data shown is for all MSAs, so it excludes rural areas.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Overall Largest Educational Programs by Related Job Postings

We crosswalk jobs to academic programs, to help schools pick programs with good student outcomes.

§  For programs that map 1:1 with occupations (e.g., Nursing), CIP and SOC job postings are similar. §  But in many fields, such as Computer Science, jobs postings for CIPs may differ from postings by SOC.

592,051

695,182

713,292

814,311

1,031,232

1,042,140

1,138,312

1,141,971

1,358,448

1,815,149

0 400,000 800,000 1,200,000 1,600,000 2,000,000

Culinary Arts/Chef Training

Marketing/Marketing Management

Administrative Assistant and Secretarial Science

Customer Service Support

Selling Skills and Sales Operations

Computer and Information Sciences, General

Computer Science

Business Administration and Management

Registered Nursing

Truck and Bus Driver

National Job Postings by CIP

Job Postings (Volume) Source: CEB TalentNeuron, Gray Analysis. Note that data shown is for all MSAs, so it excludes rural areas.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Educational Programs (among top 100 CIPs by volume) with the greatest growth in related job postings. Programs in healthcare and education had the fastest job growth. §  Job postings in pharmacy-related fields grew more than 25% year-over-year.

10%

11%

11%

12%

13%

13%

18%

20%

26%

30%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%

Teacher Assistant

Licensed Practical/Vocational Nursing

Special Education

Registered Nursing

Physical Therapy

Medicine

Criminal Justice/Police Science

Medical Insurance Coding/Billing

Pharmacy

Pharmacy Technician

Percentage Increase in Job Postings by CIP 2014 vs. 2015

Year-Over-Year Change Source: CEB TalentNeuron, Gray Analysis. Year ending May 2015 vs. Year Ending May 2014

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GRAY For more information please contact Gray Associates. Email: [email protected]

Wages and Job Growth, from Job Postings Data

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

0% 5% 10% 15% 20% 25% 30% 35%

Job Growth vs. Wages: Which Occupations have both? 25th Percentile

Wages

Pharmacists

Advertising Sales Agents

Software Developers, Systems Software

Physical Therapists

Year-Over-Year Change

Pharmacy Technicians

Medical Sciences, Except Epidemiologists

Information Security Analysts

Construction Managers

Medical Records and Health Information Technicians

Source: CEB TalentNeuron, Gray Analysis. Note that data shown is for all MSAs, so it excludes rural areas.

617.366.2838 www.GrayAssociates.com 35

GRAY For more information please contact Gray Associates. Email: [email protected]

Putting It All Together: The PES Scorecard

This example shows how our new employment data is incorporated in overall program scoring.

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GRAY For more information please contact Gray Associates. Email: [email protected]

Putting It All Together: Program Ranking

This chart summarizes the program scorecards for all IPEDS programs, making it easy to see what’s best.

617.366.2838 www.GrayAssociates.com 37

GRAY For more information please contact Gray Associates. Email: [email protected]

Agenda

1.  National Inquiry and Conversion Trends

2.  Inquiries and Conversions: Online vs. On-Campus Programs

3.  Views by Program and Segment

4.  Trends in Employment and Job Postings

5.  Summary

617.366.2838 www.GrayAssociates.com 38

GRAY For more information please contact Gray Associates. Email: [email protected]

Key Demand Trends and Observations

April generally underperformed.

§  Inquiry volumes fell 10%. ─ Branded down 10% ─ Online down 9% ─ On-campus down 10%

§  Conversions of January inquiries were down 8% YoY. ─  It is too early to tell if February of 2016 will reach last year’s levels.

§  Prices are up year-over-year, at close to $45. §  Higher degree levels continue to outperform; Associate’s programs lag. §  Job posting data is a valuable addition to employment analysis. §  Better data and systems are available to support your decisions. ─ Where to focus your marketing—by program and market ─ What programs to Stop, Start, Sustain or Grow

617.366.2838 www.GrayAssociates.com 39

GRAY For more information please contact Gray Associates. Email: [email protected]

Questions and Contacts

Please feel free to contact: Bob Atkins

CEO Gray Associates, Inc.

[email protected]

@Gray_Associates 617.366.2836

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GRAY For more information please contact Gray Associates. Email: [email protected]

Upcoming Gray Associates’ Webinars

Please join us next month!

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Thursday, June 16th at 2:00 PM EDT