The Age of U.S. Business School dominance is waning. More and more people are actually looking to go to European business schools. More Europeans are taking the exam than ever before and a big chunk of them are actually choosing to stay within the European countries to attend business school. The trend used to be that Europeans would attend business school in the U.S.--but now, Europeans are favoring schools like INSEAD, Oxford, etc.
Is it because of the lovely European women?
Some interesting stats from the period of July 2009 to July 2010 are:
- In 2010, 11% of GMAT score reports were sent to European business schools. Compare that to the percentage in 2006, 7.5%. In actual numbers, 85,262 reports sent to European business schools in 2010.
- In 2010, GMAT test takers from Europe sent out 42% more GMAT reports--indicating a huge increase in GMAT test takers in Europe.
- As expected, the countries that received the most GMAT score reports were the U.K., France, the Netherlands, and Spain.
- One-third of the GMAT score reports sent to European institutions were sent by Indian and Chinese citizen.
- Germans sent the most score reports to European schools in 2010 than did any other European country.
So it looks like there's an influx of Indian and Chinese people towards European business schools. There's also an influx of Europeans to European business schools.
So who loses out?
The American business schools. Sure, top business schools in the U.S. are still elite by any standard. But it's important to note that the reputation of Euoprean business schools is significantly better than it was 5-10 years ago. And that reputation is reflected by hard data numbers as shown above.
We here at GMATPill love tutoring Europeans on the GMAT. Students hail from the big areas like France and London--but also smaller areas like Copenhagen and Portugal.
As always, we're here to help. Whether, you're Chinese, Indian, European, or American--you'll have to jump through the GMAT hurdle to even get a chance at any of these global business schools, unless you're a brazilian Victoria's Secret supermodel who loves GMATPill.
Additional GMAT Resources and Articles
Did you know your GMAT Verbal is actually more important than your GMAT Quant score if you are trying to break 700? You might want to make sure you know which parts of the exam to target before you take the GMAT.
Sure, solving permutation and combinatoric quant problems sounds all fancy. And yes, you should do the best you can possibly do on quant. But look at your competition. A lot of non-native English speakers worldwide are taking the GMAT. Most of these people will do well on quant, but the area they are weakest in is the Verbal part--particularly reading comprehension. So re-evaluate where you put most of your focus.
Looking to make lots and lots of money? What does the GMAT have to do with a career in investment banking and management consulting. Well, it has nothing to do with financial modeling, but it may be the first step to a profitable career.
Don't underestimate the psychological part of the GMAT exam. Success on the GMAT has more to do with your mental toughness than you may think. It's not just about academic rigor.
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