Jacobs University keeps growing thanks to successful educational offerings
August 10, 2018
Jacobs University Bremen convinces ever more people from all over the world with its educational offerings. Its financial results have improved significantly for the fourth time in succession. This can be seen in the Annual Report published today (August 10, 2018) by the private, English-medium campus-based university in Bremen.
Jacobs University's presence in the international education market provides for a diverse mix of nationalities on campus: its students come from 110 countries. Their total number has increased from 1,244 in 2016 to 1,399. Eighty percent of students come to Bremen from abroad.
This rise in student numbers is also reflected in the annual financial statements. With revenues of 50.2 million euros, Jacobs University achieved an increase of 2.8 million euros (5.9 percent) over the previous year. The Bachelor's programs, in particular, proved to be an important growth driver, with the university generating sales of more than 17.8 million euros - an increase of 14.1 percent compared to 2016. The university also achieved higher sales figures for preparatory courses, Master's programs, and further education. In addition, Jacobs University realized further growth in third-party funding through research contracts per professor. This increased from 200,000 euros to 205,900 euros.
Despite an increasing number of students, expenses for ongoing operations have risen only slightly thanks to effective cost management. With an annual result of -790,000 euros (previous year -1.7 million euros), the university is now heading for a balanced budget for 2018. This significant improvement in the annual result was achieved despite scheduled declines in payments by the Jacobs Foundation of 14.2 million euros in 2017 (previous year: 17 million euros). Compared to the reference year 2012, the operating result has improved by more than 20.3 million euros.
This result comes at the end of a four-year plan (2014-2017) for realignment, with which the university pursued the goal of reconciling high academic quality with economic soundness. "The result is confirmation, encouragement and an incentive for us," says Professor Dr. Michael Hülsmann, President of Jacobs University Bremen. "It shows that our university is fulfilling its role as an innovative educational institution in Bremen.”
Top ratings in the renowned CHE ranking, publications in highly regarded scientific journals and participation in innovative research projects all contribute significantly to Jacobs University’s excellent international reputation. For example, a Jacobs University study on social cohesion in Germany, commissioned by the Bertelsmann Foundation, attracted broad media attention - as did the fact that Jacobs University was involved in the discovery of the pink chocolate "Ruby”. Chocolate manufacturer, Barry Callebaut, first presented the new variety on the Asian market last autumn and it is now also available in Europe. Companies in Bremen also work closely with the university: for example, Bremen employees from Daimler, Airbus and BLG temporarily exchanged jobs as part of the "CROSS" program - combined with course content and under the scientific supervision of Jacobs University Bremen.
A special focus is on the Chinese market: in 2017 around one-tenth of students came from China, and the world's most populous country is also an important market for the university in the area of continuing education. This summer, for instance, a Chinese mechanical engineering company sent future managers to Bremen for four months under the motto "Leaders of Tomorrow" for the second time.
The Free Hanseatic City of Bremen and the Jacobs Foundation are providing Jacobs University with momentum for its further growth. The foundation is continuing its commitment to the university and is supporting Jacobs University in a second funding phase with 100 million Swiss francs until 2027. This year, the City of Bremen decided to take over a loan from the founding phase of the university and thus bolster the financial strength of Jacobs University in the long term. This will improve Jacobs University’s liquidity by 2.5 million euros per year. "To be successful in the long term, our university needs the chance to grow," said President Hülsmann. "We are therefore very grateful for the support we have received from the city and the foundation. This gives our university excellent prospects for the future, for which we will all continue to work hard".
For more information:
https://www.jacobs-university.de/sites/default/files/geschaftsbericht_2017_finanzteil.pdf
https://www.jacobs-university.de/sites/default/files/geschaftsbericht_2017_imageteil.pdf