Portrait of 2045

Michigan Tech: A global technological university that inspires students, advances knowledge, and innovates to create a sustainable, just, and prosperous world.

  1. Diverse internationally competitive faculty - 400 in tenured or tenure-track positions and 40% of all faculty in endowed positions
  2. Diverse student body of 10,000 - $500 million scholarship endowment
    1. 6,500 Undergraduates
    2. 2,400 Masters [2,000 coursework/professional]
    3. 1,100 PhD
    4. 40% female and one of the 10 highest public universities in percentage of engineering degrees granted to women
  3. Globally literate graduates with strong communication skills
  4. A transformational undergraduate experience in a residential learning environment
  5. Internationally recognized for research, development and innovation
  6. Sustainable financial model with decreasing proportion of state funding
  7. Entrepreneurial, efficient, service-oriented and sustainable university culture
  8. Year-round Calendar
Graph of progress towards 2045 goals

2006-2015 actual progress toward 2045 goals and projected 2018 goals

Notes on 2045 numeric goals:

Projection method: Numerical targets for Enrollment, Freshman ACT, and Graduating PhDs are projected linearly from the present to the 2045 goal; Financial metrics of Sponsored Awards and Endowment Value are projected using a constant compounded interest rate.

Enrollment: Goals are taken directly from the Portrait of 2045

Freshman ACT: Arbitrarily specified at 29.0

Endowment: From the Portrait of 2045, the 40% of 400 faculty positions being in endowed positions, at our current $1 million per professorship, implies $160 million endowment in today’s dollars. Coupled with the $500 million in endowed scholarships, gives $660 million in today’s dollars in 2045. Our current Michigan Tech Fund inflation assumption is 2.25% annually, resulting in a future 2045 value of $1,258 million. This further implies a 9.1% annual growth, which includes the growth of the current endowment plus new funds raised.

Graduating PhDs: Using the rule of thumb that at steady state about 1/8th of the enrolled PhDs graduate per year, the target of 1,100 implies about 140 graduates per year [actually 137.5]

Sponsored Awards: Currently, dividing our annual sponsored awards by PhD enrollment gives approximately $100,000 per enrolled PhD student. The Portrait of 2045 goal of 1,100 PhD students gives a Sponsored Awards total of $110 million in today’s terms, or about $210 million in 2045 using the same MTF 2.25% annual inflation factor. This further implies an increase of about 4.5% per year from the 2015 base.