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Learn More: Leveraging Rankings to Boost Yield
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Transcript of Learn More: Leveraging Rankings to Boost Yield
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
Learn More: Leveraging Rankings to Boost Yield
supporting students from college search through careerScholarship
Matching
CollegeCounseling
Career Discovery
Internship & JobMatching
Rent or buy [e]textbooks
Transfer & Grad School
MatchingCollege
MatchingFlashcards
& Test Prep
HIGH SCHOOLCOLLEGE
POST COLLEGE
Tutoring Study Tools& Tutoring
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
75% of U.S. College Bound High School Students50% of U.S. College Students
15M+Students* reached
52/48% Female/Male
700,000+Social media followers
*U.S. College Bound High School & College Students Source: Data as of December 2014. Other sources include Google Analytics, Facebook, Twitter and Instagram
Chegg Reaches
9MMonthly visits
71% 18-24
$500+ MSaved by students
6 MTextbooks delivered
190,000+Internships listed
10,000+Online Tutors
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
Two Years Ago: we asked students to grade their school
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
“Just Graduated and Fumbling Through a First Job”
“Why millennials have a tough time landing a job”
“What’s an American degree worth?”
“To Reach the New Market for Education, Colleges have Some Learning to Do”
“America’s Youngest Workers Destined for Failure
A Year Ago:we looked at recent grads’ job-readiness
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
We Do This Because the Status QuoIS NOT GOOD
Poor Outcomes. Insanely High Costs. Not Okay.
Sources: 1 NY Federal Reserve; 2 Bureau of Labor Statistics; 3 Voice of the Graduate (McKinsey and Chegg); 4 National Center for Education Statistics 6
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
Today We’re Focused onCollege Rankings
Harming Students & Institutions
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College Students, n = 700• Enrolled FT/PT in 4-year program• Nationally representative*• 43% male/57% female
Hiring Managers, n = 750• Broad industries & job ranks• Nationally representative• 50% male/50% female
March 20 -27, 2015
Who did we talk to?
When did we talk with them?
*Data weighted to NCES norms
ResearchMethodology
8
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.Sources: 2015 Social Admissions Report, Mythbusting Admissions 2015
Students’ & Admissions’ Views on Rankings Aren’t Aligned
9
16%Teens say
that rankings matter when
applying
72%Admissions Officers say
rankings matter when students are applying
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.Source: Cheggheads Panel, 2015
77% 12% 11%
Students Use Rankings, But Don’t Know What They Mean(and in the competitive college admissions space, every edge matters)
ImportantNeutral
Unimportant
Q: How important were college rankings when you were deciding where to enroll?
10
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.Source: Average monthly searches for “College Rankings” based on Google Adwords, March 2015
U.S. News is our Focusbecause it is by far the best known
11
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Institutions Incented to Invest Time and Money at the expense of their values and students’ best interests
“Bucknell U. Admits To Inflating SAT Scores”
“Amid Ranking Scandal, George Wash. Official Steps Down”
“Tulane U.’s Business School Admits Sending Bogus Data to U.S.News & World Report”
“Officials Reflect on Falsified Admissions Data”
3/30/2013
12/12/2012
1/16/2013
2/21/2013
12
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“There is no question that the system invites gaming…”
RICHARD FREELANDFormer President of Northeastern University
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Nearly Everyone Believes Everyone Cheats
“More than 9 in 10 admissions directors believe that other colleges submit false reports. And only 7 percent believe that entities that produce rankings have effective systems in place to prevent such fabrication.”
– 2014 IHE Survey of College & University Admissions Directors (conducted by Gallup)
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College Rankingsharming students and institutions
Let’s be (de)constructive…15
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College rankingsdriven by factors that serve others
Benefit students
Benefit others
Benefit all16
HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%
Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%
Alumni donation rate • 5%
Freshman retention rated • 5%
Top X% of class • 3%
Professors w/ highest degree • 3%
Classes >50 students • 2%
Acceptance rate • 1%
Full time faculty • 1%
Student/faculty ratio • 1%
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%
Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%
Alumni donation rate • 5%
Freshman retention rated • 5%
Top X% of class • 3%
Professors w/ highest degree • 3%
Classes >50 students • 2%
Acceptance rate • 1%
Full time faculty • 1%
Student/faculty ratio • 1%
College rankingsLet’s look at the top 7…
80%
Benefit students
Benefit others
Benefit all17
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HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%
Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%
*National U.S.18
100k high schools, 16M students, student to HS counselor ratio is 500:1 nationally*
7% of ranking is HS Counselors, 16% is peer rankings
Rewards institutions that lobby others
Why are HS Counselorsand peers most important?
How can HS Counselors assess national colleges nationwide?
How can College Presidents, Provosts and Deans assess competitors without actually experiencing the school?What does their ranking actually mean anymore? Why not ask employers, grad and business schools about reputation? They know the finished product best .
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JAMIE RYDERCampbell High School counselor
Smyrna, Georgia
“If caseloads were smaller, I could do a lot more….”
“We can help them, We just don’t know what their issues are because we don’t see them.”
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
HS counselor & peer assessment • 23%
6 yr grad rate • 18%Avg spend /student • 10%
Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%Is it a 4 year degree or isn’t it?
Measuring 6 year grad rates rewards schools for systematically taking more time (and money) from students
Avg Student Debt Up ~3x since 1990
Let’s Reward Schools Whose Infrastructure Actively Supports Faster Graduation Rates
In 1990 Congress Made6 year grad rates the norm?!
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HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%
• Academic Support:
• Libraries, Museums, Galleries are included in this category
• Instruction
• Research
• Big spends not applicable to most undergrads
• Student Services
• Includes admissions and registrar expenses
• Does NOT include spending on Career Services
Avg Spending/Studentincludes some broad categories*
(Source: US News http://www.usnews.com/education/best-colleges/articles/2014/09/08/how-us-news-calculated-the-2015-best-colleges-rankings?page=4)
*Expenditure categories defined by National Center for Education Statistics (Integrated Postsecondary Education Data System – IPEDS)
Financial resources: U.S. News measures financial resources by using the average spending per student on instruction, research, student services and related educational expenditures in the 2012 and 2013 fiscal years. Spending on sports, dorms and hospitals doesn't count.
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%
Standardized test scores • 8%6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%
Classes <20 students • 6%
Do test scores reflect instructional quality?Scores reflect incoming class not quality of univ.
They are strong predictor of household income
Poor predictor of college or career success
Tells prospective students little about outcomes
Students are more than test scores!
Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved.
HS counselor & peer assessment • 23%
6 yr grad rate • 18%
Avg spend /student • 10%
Standardized test scores • 8%
6 yr grad rate vs predicted grad rate • 8%
Faculty Salary • 7%Classes <20 students • 6%
Alumni donation rate • 5%
Freshman retention rated • 5%
Top X% of class • 3%
Professors w/ highest degree • 3%
Classes >50 students • 2%Acceptance rate • 1%
Full time faculty • 1%Student/faculty ratio • 1%
Faculty resources are 20% of rankingsDo any of these criteria move the needle on:
Student access to required classes?
Office hour availability?
Instructional quality?
Breadth and depth of curriculum?
The faculty measures are more a reflection of professors’ length of service than it is a measure of the quality of instruction.
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What students care about & what employers care about
(interestingly enough, they align)
WHAT SHOULD RANKINGS FOCUS ON:
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Q: What are the main reasons you decided to go to college?
73% 71%
57%
43%32%
Gain greater earning
potential
Be ready to work
Become strong critical thinker
Get broad general
education
Gain skills employers value & willing to pay
for
Source: Improving Student Outcomes, Crux Research, March 2014
Get employed
67%
Remember…students go to college for jobs & money
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79% 79% 78%75%
72%
Source: Cheggheads Panel, 2015
Students wantrankings that predict real outcomes
Actual Costs vs My Ability to
Pay
Access to scholarship
s
Access to internships
Get a job in my major in 1 year
Academic support from my school
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Do they consider college rankings when hiring recent grads?
WHAT ABOUT EMPLOYERS?
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College rankingsare not important to employers
93% 7%
ImportantUnimportant
Q: How important is college rank in your campus recruiting decisions?
Source: Chegg Employers Study, 2015
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Q: How important (very / extremely) is it for a recent college graduate to have each of the following in order to succeed in their first job at your organization?
93%86%
71%65%
Source: Chegg Employers Study, 2015
Employers look forcommunication & passion
Social Skills Passion for field
of study
Beingwell-rounded
A degree from any college
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Make rankings relevant Quit feeding the beast
Ranking criteria should be radically altered
Free colleges from obsessing over rankings Focus on what benefits students
Educate students and parents to seek out right school match
What should we doto improve student outcomes
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It’s time to Revisit Rankings …
31READ: http://go.edu.chegg.com/Revisit-Rankings
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If Google Can Deliver 3.5 BILLION highly customized rankings (they are called search results) per day to help people make smarter decisions from buying a car to where they should have dinner, do simple “one size fits all” rankings even have a place that is remotely relevant in this world anymore?Bill PhelanCollege Factual
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Can we do better?
33
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Rankings & Methodologies
34
•Over 500 Rankings• Programs & Majors (>400)• Diversity• Veterans & Active Duty• For International Students (Coming
Soon)• Religious Affiliations• Academics & Athletics• For Returning Adults
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Rankings & Methodologies
35
•Dimensions• Quality• Value• Earnings Outcomes (at Major Level)• “Relatedness” of Programs• Distance Learning (Online)
• Levels• Top 1%• Top 5%• Top 10%• Top 15%
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Rankings &Methodologies
36
• Based upon facts, not opinions• Built on high quality public data
from over 40 sources• Algorithms favor outcomes
and recognize results • Results of over 50 million
PayScale surveys for early and mid-career earnings….by college…by major.
• Significant innovations in developing rankings at the majors and programs level.
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Rankings &Methodologies
37
• Cannot be “gamed”• Aligned with student needs• Aligned with employer needs• Aligned with college needs
Provides a path for colleges to start understanding their strengths and how they are different from their peers
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• For Students• Deep Insights Across Multiple Dimensions• Discover Colleges Otherwise Overlooked• Develop High Quality Options
• For College Admissions Team• Expose Hidden Strengths• Strong Differentiated Brand Messaging and Reputation• Recruit Higher Quality Students• Differentiate From Peers in a Competitive Environment
Next Generation Ranking Benefits
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• Alumni Management• Enabling Deeper Levels of Engagement
• Athletics• Stress quality of academics and athletics by promoting your
standing in academics / athletics rankings
• Career Services• Translate college’s strong program focus areas in ‘high-demand’ careers to
appeal to employers to aid student placement. (example: ‘Bio-Medical’)
•
Benefits for Other College Stakeholders
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- Incoming student test scores
- Peer Evaluations
- Job placement- Earnings- Degree completion
Rankings that matter
Focused on inputs Focused on Outcomes
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Benefits- Systematically Highlight your institution’s strengths
- News releases are “one time hits” and not enough
- Visually Powerful Graphics Are Impactful & Memorable
- Start a “Sharing Program” In Your Campus Community
- Stronger Bond w/Alumni Community
- Distribute Badges Throughout College & Related Websites at the Programs and Majors Sections
41
College Factual Badge Program
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Only Available to Schools Ranked Highly By Specific Category:
Top 1%Top 5%Top 10%Top 15%
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Badges are Visual!People do not like to read
Make a lasting impression with prospective parents and students
Place it on the pages of the programs ranked where it matters
Recruit students and alumni to share in social media, etc.
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Client Success
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Client Success
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PATRICK FOSTERUSA TODAY
“Our audience has shown a tremendous interest in rankings, from several angles, not the least of which is comparing and
contrasting institutions during their college search. The College Factual data-driven rankings provide a fresh and
relevant alternative to the other rankings available from the mainstream media. We’ve also seen a tremendous interest in
rankings for sports, as well as religion, factors that are important to students but don’t always receive attention from
main news sources."
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• Badges are immediately available upon signing• Easily Implemented with a single line of code• Distributable across all mediums (web, social,
video, print, etc.)• eBook provides extensive ideas for leveraging
the power of the badge to build recognition• Ongoing tips and advice
Fulfillment, Deployment, and Support
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THANK YOU!Questions?
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Benefits