Indore: B-schools offering quality MBA programmes have received high growth in volume of applications in 2016 as compared to 2015, according to a survey conducted by Graduate Management Admission Council (GMAC).
As per a report published by MBA Universe portal, GMAC survey revealed that nearly half of the B-schools have been able to fill classrooms with qualified candidates in all graduate business programmes sorting the suitable students as they received more applications this year.
The GMAC Global survey report 2016 finds that European programmes across the board and the one-year full time MBA, executive MBA, and online MBA programmes appear to be experiencing stronger application growth, whereas full-time two-year, part-time, and flexible MBA programmes world- wide are indicating decline.
“With the Business schools continuing to diversify their outreach and recruitment efforts to broaden their appeal to targeted candidate segments, 70% of full-time 2 year MBA programs offer admission to international candidates, especially from India, China and the US. These candidates are a priority for outreach and recruitment by a majority of full-time 1 year MBA programmes and master’s programmes in management and finance,” the portal reports.
The most common form of tuition assistance that graduate management programmes offer is merit scholarships. The majority of all programme types offer financial aid, including 78% of full-time MBA programmes. Two-thirds of programmes – 68% report that the percentage of their incoming students receiving employer-based tuition reimbursement this year will be similar to 2015.
The GMAC is the owner of the Graduate Management Admission Test (GMAT), one of the gateways to IIMs and b-schools across the world.
4.4 lakh MBA applications in 2016
GMAC conducted its 17th annual Application Trends Survey from early June to mid-July 2016. The survey findings are based on a record number of responses from 335 business schools and faculties worldwide representing 872 graduate management programs, including MBA, non-MBA business master’s, and doctoral-level programmes. Participating programmes received a combined total of 440,000 applications during the 2016 application cycle. 93% of all participating programmes report that the applicants this year are similarly or more academically qualified than candidates last year.
MBA application trends
Programme types experiencing application gains include the full-time 1 year MBA, executive MBA, online MBA, Master of Finance and the Master in Data Analytics, reports the Global Survey. According to the survey, European full-time one-year MBA programs stand out in this year’s findings — nearly 3 in 4, 74% programmes report year-on-year increases. Nearly half of US-based programmes, 43% and programmes in east and southeast Asia- 45% report volume growth in the full-time one-year MBA market.
- 57% of the 1 year full time MBA programs report growing application volumes this year, building on the momentum of last year’s results when 51 per cent reported growth.
- For the first time since 2008, a majority (51 per cent) of executive MBA programs report growing volumes, eight percentage points higher than programs that reported growing volumes in 2015.
- For the second consecutive year, a majority of 57 per cent of online MBA programmes report growing application volumes, up from 50 per cent of programes that reported volume growth last year.
- For the second year in a row, a majority of Master of Finance programmes report growing volumes. More than half of European, 65 per cent and US-based programmes- 55 percent report growth this year.
- Master in Data Analytics continues to see growing demand. 94% of the 16 data analytics programmes that submitted data comparing 2015 with this year report application volume growth in 2016.
- The survey reports that for the first time since 2012, fewer than half of full-time two-year MBA programmes, 43% experienced year-on-year application growth this year. This is the second straight year that the share of programmes reporting growth is down from a high of 61 per cent in 2014.