2 min read June 2023 — In an interview with Invest:, Kenneth Jessell, president of Florida International University (FIU), discussed notable highlights and achievements, the state of education, navigating current challenges, adding value to higher education and using partnerships to foster talent for the business community.
What were some notable highlights and achievements for FIU in the past year?
Over the past few months, there have been some very significant developments and achievements. We are proud of the recent announcement of FIU’s Law School ranking No. 60 in the country and No. 3 in the state. Prior to that, we disclosed our plans for an alliance with Baptist Health. This relationship aims to expand research, clinical expertise and teaching. As the largest public university in South Florida and with Baptist Health being the largest not-for-profit healthcare system in the region, we believe this collaboration is a wonderful endeavor. While there is still much work to be done, we are thrilled about this partnership and what it means for healthcare in our communities.
Our academic and research programs have made tremendous strides in the past year. Several of our undergraduate programs have received notable recognition from U.S. News and World Report. We are extremely proud of the support our faculty and staff provide to our students and the community; always keeping a focus on student success, expanding knowledge and solving real world problems. This dedication drives us every day, as we understand the importance of continuous innovation. The field of education undergoes constant changes. We used to witness significant knowledge advancements taking place over centuries and decades. However, today, we observe the doubling of knowledge within years, months, weeks and even days. Information grows and evolves at a rapid pace.
What is your analysis of the state of education and the opportunities for FIU?
We consider ourselves a leading educational and research institution, known for our innovation and comprehensive approach. Our university excels not only in its academic programs but also in its research endeavors. It is one thing to talk about and transmit knowledge, but it is another to actively generate knowledge. Our research expenditures have reached approximately $285 million annually. Academically, we are a comprehensive university. We have a medical school, law school and engineering school among many others, so we are able to meet market workforce demands.
We aim to be innovative in our curriculum, expanding and developing programs to ensure our students are prepared not just for today’s jobs but for the jobs of the future. This can be quite challenging, considering that the private sector always seeks graduates who can immediately contribute to their organizations. However, our primary focus is on producing graduates with critical thinking skills, enabling them to adapt to an ever-changing career landscape. Many of the jobs available today may not exist in 10 years or less. Therefore, we emphasize the importance of continuous innovation and problem-solving abilities among our students.
Considering the broader economy, how does FIU plan to navigate today’s challenges?
Labor concerns are merely the tip of the iceberg; local market costs add another layer of complexity. For instance, the median price of a home in Miami-Dade County is slightly over $600,000. To afford a mortgage of around $500,000, a substantial income is necessary. Additionally, there are other costs that our employees and potential employees consider, such as windstorm insurance, property insurance and flood insurance. These factors contribute to the overall challenge of hiring new employees and retaining existing employees in a high cost of living area. We are able to offset some of the challenges since South Florida is a remarkable place to live and raise a family, and we always strive to make FIU a great place to work as well. Above all, our priority is hiring top talent.
In truth, our experience is not dissimilar to other businesses in Miami-Dade County. Engaging in conversations with industry leaders and reading industry journals and newspapers has revealed a shared struggle. Attracting and retaining top-tier talent in the face of an ever-changing landscape is an ongoing challenge. Cycles and fluctuations are inherent in any dynamic market. Drawing from the real estate boom and subsequent downturn of The Great Recession, we’ve witnessed the necessity for adaptation. While we don’t anticipate a comparable economic downturn due to significant structural improvements in the capital markets, we remain mindful that adjustments are inevitable. Markets are ever evolving.
As students increasingly evaluate the value of continuing education, how does FIU plan to continue adding value to higher education?
First and foremost, we are incredibly blessed in Florida to have a number of excellent and highly ranked public universities and the lowest in-state tuition of any state in the country. Recently, U.S. News & World Report named Florida the top state in the country for higher education, a ranking our state university system has held since the inception of the rankings in 2017. Our strong partnership with Miami Dade College further enhances the opportunities available to our students. Now, the question that arises is how we convince people of the tremendous value of a degree. In general, college graduates make approximately a million dollars more over the course of their careers than those who do not have a college degree. A recent ranking by Degree Choices focused on the rate of return on investment. They analyzed two primary factors. First, they assessed the payback on the degree itself. Secondly, they considered the average earnings of our graduates compared to few graduates from other colleges.
Based upon this methodology, FIU ranks eighth in the nation among all public and private universities. Notably, the institutions ahead of us include City University of New York, Princeton, MIT, University of Florida, Stanford, Harvard and Yale. This objective measure underscores the broad value of an FIU degree.
What are some of the partnerships that FIU fosters to provide its talent to the business community?
We have multiple partnerships with businesses and industries across all sectors. Each of our colleges has advisory groups that work closely with us to ensure that we not only meet the needs of industry but also innovate within our curriculum. They provide invaluable insights on how we can enhance our teaching methods. One notable partnership we have is with the Knight Foundation, which led to the establishment of the Knight School of Computing. Our community has a pressing demand for more computer scientists and the Knight Foundation generously granted us $10 million to expand our computer science program.
As a result, we’ve experienced a remarkable 40 percent increase in the number of students pursuing computer science degrees. This serves as a prime example of how collaborations with organizations, whether nonprofit or industry-oriented, enable us to meet their needs effectively. However, it’s important to acknowledge that additional resources are necessary to attract and educate these students. While there is significant interest in these areas, we often face challenges in terms of faculty availability and scholarship support. By addressing these gaps, we can ensure that students can enroll in full-time loads and enter the workforce more efficiently, fulfilling the demands of the marketplace. Notably, Kaseya has been a key partner in the realm of IT, actively engaging with our institution. We have similar partnerships in medicine and nursing as well. The need for skilled professionals in STEM fields and healthcare is immense within our community. The demand for professionals in community health fields is particularly significant.
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