Maximizing Financial Sustainability in Higher Education: Lessons from the Corporate World

John "David" Jones - The College of Wooster
Rebecca Burgstahler - The College of Wooster
Rebeka Mazzone - FuturED Finance

We will explore how higher education institutions can learn from corporate practices to achieve financial sustainability. We will examine the strategies companies use to decide when to discontinue products and how they continuously evaluate consumer demand to invest in new products. Unlike the corporate world, higher education does not operate with the primary motive of generating profit, but there are valuable lessons to be learned from these practices.

We will discuss how corporations address deficits by identifying cost drivers and implementing targeted cost-saving initiatives to achieve breakeven within months. This approach contrasts with the often slower pace in higher education. Data plays a crucial role in understanding which products are successful, which are not, and where cost reductions can be made. However, the bigger challenge lies in using this data to have critical conversations about how to respond effectively.

Join us for this interactive discussion on the journey to ensure financial sustainability in higher education. Hear about David Jones' journey from a CFO in corporate America back to his alma mater, the College of Wooster, and learn how his experiences can inform practices in higher education.

Learning Objectives

  1. Identify Key Financial Tools and Metrics: Understand and communicate the future financial challenges faced by higher education institutions using projections, liquidity, and key financial drivers/metrics.
  2. Utilize Benchmarking Data: Leverage publicly available data to make informed decisions by benchmarking against other institutions, focusing on metrics such as net price, number of faculty, and compensation.
  3. Select Appropriate Peer Institutions: Develop criteria for selecting peer institutions for benchmarking purposes, ensuring relevant and meaningful comparisons.
  4. Initiate Strategic Conversations: Engage with decision-makers to advocate for necessary changes, using data-driven insights to support the case for financial sustainability.

CPE Available

  • 1 Credit: Finance