The management programmes are the top preferred courses across the world. According to the recent ''GMAT Application Trends Survey Report 2018,'' the overall volume of applications to graduate business programs in 2018 is stable compared to 2017.
The Graduate Management Admission Council (GMAC), which was founded in 1953 as a non-profit association of leading graduate business schools worldwide, has released the ''GMAT Application Trends Survey Report 2018.'' The report is prepared based on data submitted by 1,087 graduate business school programs at 363 business schools spread across the world.
Trends In The GMAT Application Trends Survey Report 2018
- Applications to the management programs in the business schools located at the Asia-Pacific, Europe and Canada are up compared to 2017.
- There is a drop in the volume of applications to the business schools in the United States of America.
- Across all the types of business school programs that include MBA, business masters and PhD, more applications have been received for programs in Asia-Pacific, Canada and Europe.
- International applications has registered a decent growth rate in the Canadian and European regions.
- The management programs in Asia-Pacific have registered a growth of 8.9% increase. Canada registered 7.7% and Europe had a 3.2% increase in application demand across all program types.
- According to the survey, the USA experienced a nearly 7% decline, including a 1.8% decline in domestic application volume and a 10.5% drop in international volume across all program types.
- Around 65% of Canadian programs and 63% of European programs report an increase in international applications over 2017.
- The volume of applications from domestic candidates is low compared to last year.
Sangeet Chowfla, GMAC president and CEO, said, "Demand for graduate management education is stable year over year. However, there are significant regional variations. Non-U.S. programs continue to thrive, highlighting the continued emergence of enhanced educational and professional opportunities outside the United States."
Chowfla added, "Several factors can help explain the lag in U.S. business school demand. A low unemployment rate means young professionals have an increased opportunity cost of leaving their jobs in pursuit of an advanced degree."
"Combined with a disruptive American political environment and the emergence over the past decade of tremendous educational and professional opportunities abroad, one can begin to understand in part why demand in the United States has dropped from previously record-high application volumes at some schools," Chowfla concluded.