This blog post is a summary of a recent project completed by Research & Marketing Strategies, Inc. (RMS).
Background: A higher education institution in Maryland partnered with Research & Marketing Strategies, Inc. (RMS) to conduct occupational supply and demand research related to two potential graduate-level academic program offerings. The college wanted to better understand the workforce demand for occupations that the two potential programs would prepare graduates to enter upon completion. The market research objective was to provide insights needed to determine whether the new programs would be viable in the current and projected market.
Approach: The study consisted of an in-depth review of available occupational supply and demand data for related occupations in particular metropolitan areas, the state of Maryland, and the United States for comparison. Turnaround time for a project of this size is very quick – RMS provided the client with a full report four weeks from the start of the project.
Results: Here are some highlights of the study’s findings:
- For both occupations investigated, the research revealed a labor market need for graduates in all locations examined.
- Graduates of the proposed programs can expect wages that are higher than the average wage across all occupations, with steady employment increases projected.
- Job openings are likely to be replacement positions, signaling an aging workforce which will provide graduates with a competitive edge upon market entrance.
- Data revealed an increased preference for distance education in Maryland (particularly at the graduate school level), with enrollment in distance educations rising.
RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our higher education research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.