Global survey shows MBA Courses still a big drawNews »
Global survey shows MBA courses still a big draw
Business schools worldwide have reported an massive increase in the number of applications for MBA course received this year, says the 2013 application trends survey conducted by the Graduate Management Admission Council ( GMAC ). The survey covered admissions to 683 graduate management programs from 328 B-schools.
According to the survey, for this academic year, 50% of full time two-year MBA programs have registered a surge in number of applications as compared to 43% last year. As many as 52% of full-time programs in the US reported an increase in applications for the 2013-2014 class, a 20 % rise over last year.
Although there’s an overall increase in applications, the scene in Asia-Pacific colleges is in sharp contrast to the US. More full-time programs in the Asia-Pacific have reported a substantial decline in applications this year compared to 2012. Just 46 % of programs in the region reported an increase in applications in 2013 compared with 79% in 2012. A majority of full-time one-year MBA programs in the Asia-Pacific region ( 53% ) continue to report increased volumes; however, this represents a slower rate of growth compared with 2012, when 77% of programs reported growth.
“Increased numbers of foreign candidates appear to be driving growth for US full-time MBA programs. The change in Asia-Pacific appears to be driven primarily by declining numbers of domestic applicants, who make up three-fourths ( 76% ) of the applicant pool. Although a majority of programs reported increased domestic application volume in 2013 ( 54% ), it is much lower compared with 2012 results, when 75 % of programs reported increased domestic growth,” says the report.
When it comes to European applicant pool, only 38% of European full-time one-year MBA programs witnessed an increase. It was 37% last year.
Foreign students make their presence felt
B-schools this year will host a more assorted list of students, with the biggest chunk walking in from countries in Central and South Asia as well as in East and Southeast Asia. While applications from these regions account for 71% of the full-time two year courses, it is 59% for one-year MBA and 52 % for Master in Management programs. Candidates from other world regions, such as Europe and Latin America, also account for a sizeable proportion of the applicant pool.
Citizens of Middle Eastern countries represent 7% and 6%, respectively of the foreign candidate pool for full-time two-year and full-time one-year MBA programs, about twice the size of their representation in any of the specialized Master’s programs included in this report.
Women and management
The number of women applications has come down — 121,413 applications, 36% of the total applicant pool. Only two program types – Master of accounting and Master’s program in IT — saw an increase in the percentage of women compared with 2012. While last year, 56% of applications for Master of Accounting programs were by women, this year it has surged to 59%.
While only 40% of applications for Master’s in IT were from women last year, the figure has gone up to 45% this year.
After many years of strong application volume, only 48% of Master of Finance programs and 39% of Master of Accounting programs reported increased or stable application volume. This contrasts sharply with 2012, when 68% of finance master’s and 81% of accounting master’s programs recorded rising or stable application volumes. Moreover, it is for the first time in five years that a majority of these programs ( 53% of finance and 60% of accounting ) have reported declining application volume.
However, Masters in Management is hugely popular, driven primarily by foreign applicants. Globally, 62 % of Master in Management programs reported increased applications from foreign candidates in 2013 compared with 40 % of programs that reported growth in domestic applications.