The Chronicle of Higher Education explored results of a recently released GMAC study of MBA application trends in “Foreign Demand Drops for American M.B.A. Degrees, Study Finds” While the trend for business school attendance seems to be on the rise globally, in the United States, there's been a drop in demand, especially from international applicants. Likewise, the number of GMAT tests taken worldwide this year hit a staggering 265,613; the majority of test-takers were non-American, and only 59% of them sent their scores to United States MBA programs, as compared to 65% last year and 75% in 2000.
34,449 GMAT exams were taken in Asia in 2009, up 75% since 2005. North American test-takers totaled 21,376, up 30% since 2005, Europe lags behind at 5,291 exams taken (up 25% since 2005), followed by the Middle East and North Africa at 4,713 (a 43% increase over the last four years), and then Latin America at 1,661 test-takers (up only 18%).
There are a few things that account for the increase of international MBA applicants and the decline of those applicants' interest in the U.S. First, the decline of the global economy has made it harder and harder for students—both stateside and abroad—to afford graduate programs, let alone American programs that tend to be on the more costly side. Second, international business schools have taken strides to beef up the quality of their programs, making staying local more appealing to students who would otherwise travel for a good education.
Other Business School Trends
- Business school students are getting younger and younger. There was a huge representation of under-25-year olds at testing centers this year, up 161% from last year.
- Overall, women make up 40% of the world's GMAT testers. The number is higher in Asia, at 51%, and lower in India and Pakistan, at just 24%.
- American MBA programs continue to embrace diversity: There was a 36% increase for Asian-American applicants, 26% for blacks, and a 20% increase for Hispanics.
- Part-time and executive MBA programs are becoming smaller, in part due to a 3% decrease in students receiving full reimbursement.
- The increase in MBA applications leveled off last year. 66 percent of programs received more applications this year than last year. A year ago, 77 percent saw increases.
Let Accepted.com help you increase your chances of admittance to your dream MBA program, whether on home soil or abroad. Since 1994 Accepted has helped applicants like you improve their competitive edge by strengthening their application strategy, polishing essays, and assisting in the taxing quest for financial aid. These numbers all say one thing: MBA are still in high demand and with hard work, the degree could be yours in a just a few years from now!
By Linda Abraham, founder and president of Accepted.com.
