Business schools across the world are seeing an increase in the number of applications to MBA programs after a four-year decline, says the Association of MBAs (AMBA) in its 2016 Application and Enrolment Report.
The global study of AMBA-accredited programs revealed a net growth of 5% in the number of applications during 2014-2015. In the four years prior to 2014, application numbers had declined by 14%.
The Association of MBAs (AMBA) is a global MBA-focused accreditation organization and worldwide MBA alumni club, founded in London in 1967. It accredits around 2% of the world’s business schools. All MBA students and alumni of the accredited schools join AMBA as individual members free of charge.
AMBA has granted accreditation to 210 business schools worldwide with the majority of 79 schools located in Europe followed by 43 in the United Kingdom (UK) and 35 each in Asia and Latin America & the Caribbean. The accreditation that upholds the highest standards of MBA programs is much valued among the students, the institutions and the recruiters.
The report, based on data provided by 92% of AMBA-accredited institutions, measured schools’ intake and graduation figures for 2015, including submissions from 218 schools across six continents. It represented a record number of participating schools.
Though Africa and Oceania saw an increase in enrolments between 2011-15 of 4% and 21% respectively, in other regions, it remained relatively static with an overall 13% drop between 2011-15.
Meanwhile AMBA chief executive Andrew Main Wilson, talking to Times Higher Education (THE), says that the increase in applications proves that high quality postgraduate management education was desirable in a world that was becoming more competitive, global and uncertain.
In the face of global competition, the need to be a more professional manager is being felt. Thus, it becomes necessary for people to pursue the best possible business education they could afford. They are also realising that there is no point in waiting two or three years to see if the economic climate might be more favourable.
He points out that the difficulties in procuring Visa to study in the UK were driving MBA aspirants to destinations like Australia and New Zealand that has seen a large influx of Asian students. The advantage in taking up a full-time MBA in Australia is being automatically granted a work permit for a limited period after completing the degree.
The increased demand for MBAs also means that schools have to evolve, especially in imparting the softer skills needed in the market place that are more difficult to teach. Softer leadership and communication skills are the ones that employers would like to see polished to the same standard as the classic MBA taught skills, he says.(Image Source: Wikipedia.org)
