Third Consecutive Year of Application Growth for Two-Year MBA Programs Follows 2014 Corporate Recruiters Survey Showing Strong MBA-Hiring Intentions
For a third straight year, applications to full-time two-year MBA programs showed marked growth, according to the 2014 Application Trends Survey, released by the Graduate Management Admission Council. By comparison, the survey reported a flattening or decrease in applications to other graduate management program types.
Forty percent of full-time one-year MBA programs in USA and Europe report increased (37%) or stable (3%) application volumes in 2014, with a majority (60%), however, reporting decreasing volume. This is a notable reversal of a twoyear trend of slowly rising or steady volume, especially in comparison with 2013, when 53 percent of programs reported increased (49%) or stable (4%) volume over 2012 levels.
The survey report notes that data for full-time one-year MBA programs based in India, Asia-Pacific, or other world regions was not included in the report due to insufficient response and that countries in the Asia-Pacific region considered for collating data for two-year MBA programmes include Australia, China, Hong Kong (SAR of China), Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand but exclude India.
The survey also highlighted trends observed in GMAT testing that show a growing number of students seeking to study outside their country of citizenship. These candidates make up a significant portion of the talent pool for many MBA and non-MBA master’s programs and are driving changes in year-on-year application volume globally.
The increasingly global talent pool has been emerging for more than a decade, and has shaped the development of management education — both in where it is growing, as well as the in the mix of programs types offered to meet the needs of global students.
“Viewed in tandem, there is good news for both students and schools in this survey, as well as in our recent Corporate Recruiters Survey [released in May 2014], where 4 out of 5 companies said they planned to hire MBA graduates in 2014,” said Sangeet Chowfla, GMAC president and CEO.
“For schools, the rise over the last three years in two-year applications is welcome. This echoes other research that tells us how highly students value their two-year MBA degrees for the personal, professional and financial advantages it conveys. For students, GMAC’s Corporate Recruiters Survey may very well signal a change in hiring from a cost-driven, recession-driven organizational focus, to a growth-driven focus utilizing the skills that MBA programs are designed to develop,” Chowfla continued.
The 2014 Applications Trend Survey found that 61 percent of global full-time two-year MBA programs participating in the survey reported application growth — up from 50 percent of programs in 2013.
