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
Changing Trends in Civil Services Exams: How to Crack the UPSC Code!
Earlier this year in March, the news of ChatGPT failing the UPSC Prelims 2022 made rounds on the internet. People were amused but not surprised to know that even ChatGPT could not crack the IAS Exam; it is one of the toughest examinations i...
AP ICET 2023 Result Date: How to check scores
AP ICET 2023 Results: The Andhra Pradesh State Council of Higher Education (APSCHE) is likely to announce the results of the AP Integrated Common Entrance Test (AP ICET) today. Students who appeared for the exam can check their results on the of...
NEET UG 2023: Results by next week,NTA assures parliamentary committee
NEET UG 2023 date: The National Testing Agency (NTA) will release the scorecards for the National Eligibility cum Entrance Test (NEET) UG 2023 by the second week of June, The Indian Express has learnt. Once released...
Assam to scrap Class 10 board exams from next year, state CM announces
The Assam Chief Minister Himanta Biswa Sarma has announced that the Secondary Education Board of Assam (SEBA) will not conduct Class 10 (HSLC) board exams from next academic year. As per the official announcement, from now on, the Madhyamik level exa...
Tripura TBSE announces Madhyamik and HS board exam results, pass rate in Higher Secondary dips
TBSE Tripura Madhyamik, HS Results 2023: Results of both Class 10 and 12 board examinations conducted by the Tripura Board of Secondary Education (TBSE) were declared on Monday with 86.02 per cent and 83.24 pass rate registered in the two segmen...
Maharashtra Board SSC 10th Results 2023 Live: 151 students scored 100%, result available at mahresult.nic.in
Maharashtra SSC 10th Results 2023 Live Updates: The Maharashtra State Board of Secondary and Higher Secondary Education (MSBSHSE) declared the results for Class 10 board examinations 2023 on June 2 at 11 am. However, the resu...
Rajasthan Board RBSE 5th Result 2023 Live: Result out at rajshaladarpan.nic.in, 97.30% students passed
RBSE Rajasthan Board 5th Result 2023 Live Updates: The Rajasthan Board of Secondary Education (RBSE) announced the results of Class 5 final exams 2023 today (June 1). Students who appeared for the exam can check their results at the of...
Odisha +2 Results 2023 Updates: Official website orissaresults.nic.in down; why has pass percentage dropped?
Odisha Class 12th Result 2023 Live Updates: The Council for Higher Secondary Education (CHSE) Odisha on May 31 released the Class 12 results. Students will be able to check their scores at the official websites – chseodisha....
CUET UG 2023: 73.33% out of 1.49 lakh appear on Day 4
CUET UG 2023: University Grants Commission Chief M Jagadesh Kumar Monday (May 29) shared figures from Day 4 of the Common University Entrance Test (CUET) UG 2023. The total number of candidates scheduled was 1,49,900 and the attendance...
UPSC Civil Services Prelims Exam 2023: Increased difficulty level may result in lower cut-off, say experts
The UPSC conducted the Civil Services 2023 Prelims exam on May 28. As per experts, the question paper was a mixed bag of moderate to difficult questions. However, most students found the paper to be difficult and time-consuming. Praveen ...