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Applications for two-year, full-time M.B.A. programs that start this fall dropped an average of 9.9% from a year earlier, according to new data from the Graduate Management Admission Council, which administers the Graduate Management Admission Test. The decline marks the third year in a row that applications have fallen.
Most aggregate salary data for MBA graduates is anything but conclusive. While the Graduate Management Admission Council reports that the median starting salary for 2010 grads was $78,820 -- with 42% receiving a median $15,000 signing bonus, PayScale research indicates that the average 2010 starting MBA salary was $61,000 including bonuses. The PayScale data, which screened for anyone who identified as having an MBA, is drawn from a larger and more inclusive, but probably less elite pool of grads.
"One thing that's absolutely clear is that if you just go to a random MBA program it is not a guaranteed route to a six-figure salary after you finish," Lee says. "The top 20 programs, there's a decent chance that could happen, but once you get out of the top 20, that's just not the case."
According to a GMAC survey released Tuesday, 45% of applicants to U.S. programs were from outside the U.S., up from 39% in 2010. The Asia-Pacific region – particularly India and China – remains the biggest source of international applicants, contributing 57% of the pool for U.S. programs. Europe contributed just 4% to U.S. programs.
Re: MBA News: Apps 10% down, Salaries down too, More Non-US appl [#permalink]
17 Sep 2011, 19:29
From the WSJ article: "But even though M.B.A. application volume has slumped, most schools report the quality of candidates, based on their GMAT scores, undergraduate transcripts and work experience, is getting stronger. "You're not getting applications from those who aren't serious," said Dave Wilson, chief executive of GMAC."
It looks like it's not less competitive, it's just that people that don't have a good chance of being admitted anyway aren't bothering to apply anymore.
Management Leadership of Tomorrow (MLT) - MBA Programs Fellow MLT LA Chapter - Board Member / Recruiting Officer Net Impact - Professional Chapter Co-President MBADiversity Organization - Global Fellow, CHINA
Re: MBA News: Apps 10% down, Salaries down too, More Non-US appl
21 Sep 2011, 22:42