Last month Coursera announced two more Masters degrees, taking the total number of degrees it offers to four. The University of Illinois announced its third Masters Degree with Coursera in Accounting (dubbed iMSA). Coursera roped in a new partner, HEC Paris, which will be offering a Masters in Innovation and Entrepreneurship (dubbed OMIE).
Both of these degrees require students to go through an application process, and there is a minimum qualification of having a Bachelors degree. The process and requirements are pretty similar to applying for an on-campus degree.
iMSA requires the student to have a GRE/GMAT score, but that can be waived if the candidate can show sufficient work experience. Non-native English speakers will be required to submit a TOEFL or IELTS score. The entire degree costs $27.2k, consists of 32 credit hours, and can take anywhere between 18–36 months to complete.
OMIE doesn’t require that potential applicants have a GRE/GMAT score, but it recommends that they do. It also requires a minimum of five years of work experience and English proficiency. The entire degree costs €20k, consists of 20 courses, and can take anywhere between 10–16 months to complete.
OMIE also includes a certificate program, which costs €5,000. The Certificate in Innovation Management and Entrepreneurship does not have an application process and is open to everyone. Once completed, it can be applied towards the full degree.
Overview of MOOC-based Degrees
|MS Computer Science||Udacity||Georgia Tech||$6,600|
|MS Analytics||edX||Georgia Tech||$10k|
|MBA||Coursera||University of Illinois||$22k|
|MS CS Data Science||Coursera||University of Illinois||$19.2k|
|MS Accounting||Coursera||University of Illinois||$27.2k|
|Masters in Innovation and Entrepreneurship||Coursera||HEC Paris||€20k|
|Cyber Security (Masters)||FutureLearn||Deakin University||£24k|
|Development and Humanitarian Action (Masters)||FutureLearn||Deakin University||£24k|
|Professional Practice: Information Technology (Masters)||FutureLearn||Deakin University||£24k|
With the addition of these two degrees, there are now ten fully-fledged Masters offered by MOOC providers (as shown in the table above). All the major MOOC providers are now offering degree programs. According to InsiderHigherEd, Coursera has goals of launching 15–20 degree programs by the end of 2019.
To contrast, 2U, a public listed company that helps universities put their degree programs online, currently has 45 such degrees. 2U made $205.9 million in revenue in 2016, an increase of 37% over its 2015 revenue. Given the MOOC providers’ existing relationships with universities, it makes financial sense to partner with them to go after this lucrative market.