No other Business Degree can replace MBA

Three in four prospective graduate business school candidates who hold a prior Master's degree are considering enrolling in MBA programmes, according to a new research from the Graduate Management Admission Council (GMAC). Findings from the Council's 2017 Prospective Students Survey Report released shows that the MBA remains the predominant programme format considered by candidates with both prior business master's degrees (61 per cent) and non-business Master's degrees (86 per cent).

Sangeet Chowfla, president and CEO of GMAC  said that these findings demonstrate that a business master's degree is not necessarily the end of graduates' business education. For many, their business master's degree is a stepping stone to continued professional development that may include an MBA down the road, in either a full-time or part-time format.

According to the survey report, globally, 22 per cent of prospective business school candidates have a prior Master's degree, with considerable regional variation. While 2 in 5 European candidates have a prior Master's-level credential, the same is true of just 14 per cent of US candidates.

Globally, the percentage of candidates considering only business Master's degrees such as Master of Finance, Master of Accounting, and Master in Management has increased from 15 per cent in 2009 to 23 per cent in 2016.

This rise in interest has been particularly strong among candidates from East and Southeast Asia and Western Europe, where now more than 2 in 5 candidates report considering only these programme types. Also, Non-MBA and MBA programmes attract distinct candidate pools seeking different outcomes. Candidates considering non-MBA business master's programmes skew younger and the majority have little to no prior work experience.

Compared with MBA candidates, individuals preferring business master's programs are more interested in developing their technical skills. MBA candidates are typically older, have more years of work experience, and are more interested in developing their managerial and leadership skills.

Nearly 3 in 5 prospective business school students (59 per cent) intend to apply to programmes outside their country of residence, up from 44 per cent in 2009.

Most candidates seek study opportunities outside their country of citizenship to receive a higher-quality education (63 per cent of respondents), to increase their chance of securing international employment (58 per cent), and to expand their international connections (51 per cent). One-third (34 per cent) of candidates who prefer to study outside their country of citizenship intend to seek employment in the country where they prefer to attend school.

Consistent with past research, more than 9 in 10 US candidates prefer to study domestically (96 per cent). Globally, among full-time MBA candidates looking to study outside their country of citizenship, 58 per cent prefer to study in the US, down from 61 per cent in 2009. Since 2009, there has been an increase in MBA candidates preferring to study in Canada (4 per cent in 2009 vs. 7 per cent in 2016).

There has been a similar shift in preferred study destinations among non-U.S. candidates interested in business Master's programs. In 2016, 47 per cent of non-US prospective students interested in business Master's programmes expressed a preference for study in the U S down from 57per cent in 2009.

Anticipated changes in US immigration policies and last year's Brexit vote in the United Kingdom may make it more difficult for non-citizens to obtain student visas to study in those countries or to obtain work visas after graduation to seek employment, one of the main reasons for studying in those countries.

Since November 2016, a growing share of international candidates say they are now less likely to pursue a graduate business degree in the US due to the presidential election results.

Approximately half of surveyed candidates indicate that not having enough money available to pay for their education (52 percent of respondents) and potentially having to take on large debts (47 per cent) may prevent them from pursuing a graduate business degree

The two most important financial aspects that candidates evaluate when deciding where to apply are total tuition costs and scholarship availability.

Compared with 2009, candidates, on average, expect to cover a greater share of the cost of their education with grants, fellowships, and scholarships and a smaller share with parental support, loans, and employer assistance.

More News
MHT CET 2019 Exam To Be Online; Syllabus, Marking Scheme Details Here
MHT CET 2019 will be conducted in online mode for the first time in 2019. State Common Entrance Test Cell, Maharashtra has released the syllabus and marking scheme for the Computer Based Test (CBT) MHTCET 2019-20. The State Entrance Cell is yet to re...
CBSE Board Exam 2019: Class 10 Sanskrit Exam Pattern, Marking Scheme
CBSE Board Exams for class 10 will begin in the latter half of February. The board will begin the examinations with Vocational subjects first. The board exams will be wrapped up earlier in 2019 and consequently the board exam result will also be anno...
IIM Calcutta Honours Alumni Achievers At 58th Foundation Day
IIM Calcutta, one of the premier B-Schools in India and the first IIM to be set up in 1961, today celebrated its 58th Foundation Day at the institute's campus in Joka, Kolkata. The event was well attended by students, faculty and was a fitting tribut...
IGNOU B.Ed. Admission 2019: Online Registration Closes Soon, Apply Now
IGNOU or Indira Gandhi National Open University will be closing the online application process for admission to B.Ed. programme soon. The Bachelor of Education or B.Ed online application process for admission to the course offered through an entrance...
AIIMS MBBS 2019: Two Stage Registration Process To Begin Soon, Check Details Here
All India Institute of Medical Sciences (AIIMS), New Delhi has proposed to Initiate Online Registration of applicants well in advance this year for AIIMS MBBS entrance examination. As it has been found from the past experiences, a majority of applica...
CBSE Board Exam 2019: Class 10 English Communicative Exam Pattern, Marking Scheme
CBSE will conduct board exams for class 10 students in February and March 2019. With the board exams only a couple months away, students have begun to prepare for the D-day. It is imperative to look at the marking scheme and exam pattern to better st...
CBSE Class 10 Science Sample Question Paper, Marking Scheme; Check Here
CBSE or Central Board of Secondary Education has recently uploaded the Class 10 sample question papers and marking scheme for the annual examinations scheduled to be held in March next year on the official website of the Board. There is an ...
AIIMS PG Admit Card 2019 Released @ Aiimsexams.org, Here's How to download
Admit Card for AIIMS PG January 2019 Session has been uploaded on the official exam website of AIIMS. The candidates may download their AIIMS PG admit card after logging into the official website, aiimsexams.org. To download the admit from ...
NEET MDS 2019 Application Process Ends Tomorrow
The last date to apply for NEET MDS 2019 exam is November 6, 2018. NEET MDS is conducted for admission to MDS programme. It is a single-window entrance examination for admission to MDS programme and no other entrance exam will be ...
NEET UG 2019 Exam Pattern Explained
Ever since the news of NEET being conducted by a new body spread, students have been wary about any change in the exam pattern. Now that the application process has started and the official information brochure for NEET UG 2019 is available...