{"id":37798,"date":"2017-06-18T07:00:05","date_gmt":"2017-06-18T14:00:05","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=37798"},"modified":"2017-06-18T01:43:26","modified_gmt":"2017-06-18T08:43:26","slug":"a-business-masters-degree-is-not-a-replacement-for-an-mba","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/a-business-masters-degree-is-not-a-replacement-for-an-mba\/","title":{"rendered":"A Business Masters Degree is Not a Replacement for an MBA"},"content":{"rendered":"

\"Need<\/a><\/p>\n

According to new research<\/a> by the Graduate Management Admission Council (GMAC), 75% of prospective graduate business school candidates who participated in the GMAC survey and who already have a master\u2019s degree are considering enrolling in MBA programs. This is true for students with both prior business master\u2019s degrees (61%) and non-business master\u2019s degrees (86%). These statistics are from the 2017 mba.com Prospective Students Survey Report, in which 11,617 students who registered on mba.com between February and December 2016 responded.<\/p>\n

The survey findings also demonstrate that globally 22% of potential business school candidates already hold a prior master\u2019s degree. This varies by region: 40% of European candidates have a prior master\u2019s degree, while only 14% of U.S. candidates do.<\/p>\n

Here are some additional findings from the survey:<\/strong><\/p>\n

\u2022 Globally the number of candidates considering non-MBA Master\u2019s programs, such as Master of Finance<\/a>, Master of Accounting, and Master in Management, has increased from 15% in 2009 to 23% in 2016. This is especially true for candidates from East and Southeast Asia and Western Europe, where now more than 2 in 5 candidates report considering only these types of programs.<\/p>\n

\u2022 Non-MBA and MBA programs attract different candidates looking for different outcomes. Non-MBA candidates tend to be younger, most have no previous full-time work experience, and are more interested in developing technical skills. MBA candidates are usually older, have full-time work experience, and are looking to develop their managerial and leadership skills.<\/p>\n

\u2022 59% of prospective business school candidates plan to apply to programs outside their country of residence<\/a>, up from 49% in 2009.<\/p>\n

\u2022 63% expect to receive a higher-quality education.
\n\u2022 58% hope to increase their chance of obtaining international employment.
\n\u2022 51% plan to expand their international connections.
\n\u2022 34% plan to look for work in the country where they prefer to attend school.<\/p>\n

\u2022 96% of U.S. candidates prefer to study domestically. Among full-time MBA candidates seeking study outside their country of residence, 58% prefer to study in the U.S., down from 61% in 2009. There has been an increase in MBA candidates\u2019 preference to study in Canada since 2009 (4% vs. 7% in 2016).<\/p>\n

\u2022 Non-U.S. candidates from business master\u2019s programs are also shifting away from the U.S. Since 2009 there has been an increase in interest in applying to business master\u2019s programs in Western Europe (34% in 2016 vs. 30% in 2009); Canada (7% in 2016 vs. 4% in 2009); and East and Southeast Asia (7% in 2016 vs. 4% in 2009).<\/p>\n

\u2022 The cost of education is the main reservation candidates have about pursuing a graduate business degree. 52% indicate that not having enough money for their education<\/a> may keep them from getting a graduate degree. The same is true for those concerned about having to take on large debts (47%).<\/p>\n

\u2022 The two most important financial features that candidates look at when evaluating programs are total tuition costs and available scholarships<\/a>. On average, candidates now expect to cover a larger share of the cost of their education with grants, fellowships, and scholarships and a smaller share with parental support, loans, and employer-sponsorship compared to 2009.<\/p>\n

Click here to download the full report.<\/em><\/a><\/p>\n

\"Download<\/a><\/p>\n

\"Accepted<\/a><\/p>\n

Related Resources:<\/strong><\/p>\n

\u2022 Why MBA<\/a>, a free guide
\n\u2022 GMAC Releases Results of Year-End Employer Poll<\/a>
\n\u2022 The CEMS MIM: A Truly International Masters in Management,<\/a> a podcast episode<\/p>\n

This article<\/a>\u00a0originally appeared on\u00a0<\/i>blog.accepted.com<\/a>.<\/i><\/p>\n

Applying to a top b-school? The talented folks at Accepted have helped hundreds of applicants get accepted to their dream programs. Whether you are figuring out where to apply, writing your application essays, or prepping for your interviews, we are just a call (or click) away.<\/p>\n

Contact us, and get matched up with the consultant who will help\u00a0you\u00a0<\/i>get accepted<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

According to new research by the Graduate Management Admission Council (GMAC), 75% of prospective graduate business school candidates who participated in the GMAC survey and who already have a master\u2019s…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,939,775,113,243],"tags":[73,173,724,1896],"class_list":["post-37798","post","type-post","status-publish","format-standard","hentry","category-mba","category-accepted","category-admission-consultants","category-applications","category-blog","tag-business-school","tag-gmac","tag-masters-in-finance","tag-mba","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/37798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/comments?post=37798"}],"version-history":[{"count":1,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/37798\/revisions"}],"predecessor-version":[{"id":37800,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/posts\/37798\/revisions\/37800"}],"wp:attachment":[{"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/media?parent=37798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/categories?post=37798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gmatclub.com\/blog\/wp-json\/wp\/v2\/tags?post=37798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}