The sources revealed that this year the number of applicants hit 286,529 which is noted to be 11% hike compared to the previous year, said the GMAC - Graduate Management Admission Council. The cast majority of those score reports or 560,000 were sent to MBA and EMBA programmes, with the remaining 240,000 scores being sent to other business master's degree programmes.
GMAC released a report which stated that application volume was markedly master's degree programmes. That was not the case for full-time, two year US MBA programme, where nearly two-thirds of schools reported a decline in applications.
James Bradford, chair of GMAC's Board of directors and Dean of Vanderbit University's Owen Graduate School of Management said "I think it shows the geographic mobility of graduate students today, and it is typical that you will see graduate students following economic trends where employment opportunities occur. As a consequence, the growth that we are seeing is very nice and I think it will continue."
GMAC's Vice President of Global Communications Rich D'Amato says "Asia is sort of going gangbusters. It had played a pretty large role across the board over the last couple of years in terms of volumes".
Another reason for the GMAT's testing volume may have increased this year was the impending addition on June 5 of the new Integrated Reasoning section, many test-takers rushed to take the old version before the new one went into effect just weeks before the June 30 close of GMAC's 2012 testing year.
David Wilson, the GMAC President and CEO said "2012 was a remarkable year. GMAT testing rose from 2011-2012 in all world regions. The number of programmes receiving GMAT scores rose to an All-Time High. And we and our partners were able to scale our systems and delivery to individual test takers seamlessly to accommodate the high demand for the exam in the spring".
"Today's global students, who may be a citizen of one country, study in second and choose to work in third-recognize the significance and the superiority of the GMAT exam in gaining admission to the best management programmes around the world. Business and Management skills are needed more than ever in an ever increasing variety of organizations. Business schools have responded by offering a deeper portfolio of programmes in order to meet these diverse needs", he added.
A students GMAT score is valid for five years, so it is unclear whether the spike in global GMAT volume will translate into a flood of B-school applications from international test-takers next year or several years down the line.