MBA applications decline in the US, while global demand surges
After years of rapid growth, MBA applications in the US are declining sharply.
MBA programs in the US experienced their fourth year in a row of declining applicants said new data.
Numbers from the Graduate Management Admission Council, which administers the GMAT entry exam, suggest that over 60 percent of US programs showed a decline this year.
The Financial Times reported that the US numbers are in sharp contrast to Asia where 80 percent of schools said they had increases in applicants.
Globally, 43 percent of full-time, two-year MBA programs saw increases in applications this year – up 15 percentage points, reported Businessweek.
That said, specialized business-related graduate degrees like accounting or finance continue to grow.
Part-time and online degrees also grew.
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The decline was strongly felt among top schools in the US.
Columbia Business School said that applications had declined 19 percent for its two-year MBA program, said the Wall Street Journal.
The Journal also reported that, in contrast, other schools saw major increases, including the University of California, Los Angeles, which used more aggressive marketing efforts last year to lure students.
The findings also showeed that women applicants to MBA programs are becoming more common.
Nearly half of the MBA degrees in the US saw more applications from women this year.
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