Applications for MBA programmes decreasing, according to global survey by GMAC
HR Editorial, September 14, 2011
In the face of continued economic uncertainly worldwide, application volumes to specialised master’s programs in finance and management show strong gains, while the picture for MBA programs is mixed, reports the Graduate Management Admission Council (GMAC) in its annual Application Trends Survey.
The report published yesterday shows two-thirds of two-year, full-time MBA programs reported decreases in application volume, while the majorities of part-time and executive programs said application levels had remained the same or rose in 2011 compared with 2010.
The global survey found 83% of masters of finance programs report applications are up, along with increased applications reported by 69% of master's in management and 51% of master's in accounting programs.
More than one-third (37%) of full-time MBA programs reported application volume as the same or greater than the previous year.
The majority of part-time programs (54%) said application volume was the same or greater than the previous year; and 58% of Executive MBA programs saw the same or increased volume.
International applicants make up 53 percent of full-time MBA programs applicants, on average. Applicants from Asia-Pacific account for 57 percent of international students applying to programs in the United States.
The quality of applicants and their academic credentials are the same or higher in 2011 compared with last year for 89% of full-time MBA programs (39% of programs reported that applicants were more qualified than the previous year and 50% said applicants had the same qualifications). Meanwhile, acceptance rates for full-time MBA programs remained steady.
Dave Wilson, president and CEO of the GMAC, said: "The caution in this year's survey for full-time MBA programs is unsurprising in the current economy as students weigh the financial and time commitments required to pursue a graduate business degree.
"Still, the steadiness reflected in executive and part-time MBA programs, specialised master's programs and the growth among international applications shows the value people continue to place on graduate management degrees as investments in their career and future.
"The survey also reflects the ability of schools to respond to these market demands while continuing to attract the highest quality candidates. It's also worth noting that registration volume for GMAT testing has grown sharply over the last several months, one indication of student demand that might benefit schools as they head into the next admissions cycle."
GMAC has conducted the Application Trends Survey since 2000, lending the organization a unique vantage point to help schools understand trends in the demand for GME programs. Business schools use the Application Trends Survey results to gauge market trends, benchmark against other schools, develop strategies, share results, set goals internally, and justify resources.
A total of 649 programs from 331 business schools and faculties worldwide, representing 45 countries, 42 states and the District of Columbia, participated in the annual study, which is conducted from early June to mid-July every year.