Business Master's Degree Not a Substitute for an MBA
(Thomson Reuters ONE) -
RESTON, Va., May 16, 2017 (GLOBE NEWSWIRE) -- Three in 4 prospective graduate
business school candidates who hold a prior master's degree are considering
enrolling in MBA programs, according to new research from the Graduate
Management Admission Council (GMAC). Findings from the Council's 2017 mba.com
Prospective Students Survey Report released today show that the MBA remains the
predominant program format considered by candidates with both prior business
master's degrees (61 percent) and non-business master's degrees (86 percent).
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"These findings demonstrate that a business master's degree is not necessarily
the end of graduates' business education," said Sangeet Chowfla, president and
CEO of GMAC. "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."
The findings of the mba.com Prospective Students Survey Report show that
globally 22 percent 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
percent of U.S. candidates.
Key Findings
Demand for Business Master's Programs Continues to Grow
Fueled by growing candidate demand, non-MBA business master's programs continue
to proliferate. 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 percent in 2009 to 23 percent 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 program types.
Non-MBA programs and MBA programs attract distinct candidate pools seeking
different outcomes. Candidates considering non-MBA business master's programs
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.
International Study Demand Remains Strong
Nearly 3 in 5 prospective business school students (59 percent) intend to apply
to programs outside their country of residence, up from 44 percent in 2009. Most
candidates seek study opportunities outside their country of citizenship to
receive a higher-quality education (63 percent of respondents), to increase
their chance of securing international employment (58 percent), and to expand
their international connections (51 percent). One-third (34 percent) of
candidates who prefer to study outside their country of citizenship intend to
seek employment in the country where they prefer to attend school.
U.S. Remains Most Preferred Study Destination Though Candidate Preferences Are
Shifting
Consistent with past research, more than 9 in 10 U.S. candidates prefer to study
domestically (96 percent). Globally, among full-time MBA candidates looking to
study outside their country of citizenship, 58 percent prefer to study in the
U.S., down from 61 percent in 2009. Since 2009, there has been an increase in
MBA candidates preferring to study in Canada (4 percent in 2009 vs. 7 percent 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 percent of non-
U.S. prospective students interested in business master's programs expressed a
preference for study in the U.S., down from 57 percent in 2009. Over time, a
greater share of these candidates have shown interest in applying to programs in
Western Europe (34 percent in 2016 vs. 30 percent in 2009), Canada (7 percent in
2016 vs. 4 percent (2009), and East and Southeast Asia (7 percent in 2016 vs. 4
percent in 2009).
Recent Immigration Policy Changes Having Impact on International Study Choices
Recent shifts in immigration policies may impact candidates' study destination
preferences in 2017. Anticipated changes in U.S. 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 U.S. due to the U.S.
presidential election results. The percentage of non-U.S. citizen mba.com
registrants who say they are now less likely to study in the U.S. has grown from
35 percent in November 2016 to 43 percent in April 2017.
Early indications are that the British Brexit vote to leave the European Union
may negatively impact international candidate demand to apply to U.K. business
schools. In December 2016, among nearly 1,300 non-U.K. GMAT test takers surveyed
about the Brexit vote, 45 percent indicated that the Brexit vote has made them
less likely to study in the U.K. A country-level analysis reveals that Indian
candidates are the most negatively influenced by the Brexit vote, with 58
percent reporting that it has made them less likely to study in the U.K. GMAC
launched a second survey of non-U.K. GMAT test takers on March 29, the day the
U.K. triggered Article 50 of the Treaty of Lisbon, which allows the U.K. to
unilaterally quit the European Union. This survey closed on April 7 and showed
the same percentage of candidates would be less likely to study in the U.K.
Education Costs and Financing Continue to Weigh Heavily on Candidates' Minds
The predominant reservation candidates have about pursuing a graduate business
education revolves around costs. 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
percent) 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.
Analysis in the 2017 mba.com Prospective Students Survey Report is based on
survey responses provided by 11,617 individuals who registered on mba.com
between February and December 2016. To download the full report
visit: gmac.com/prospectivestudents. For supporting graphics, visit the GMAC
News Center.
About GMAC: The Graduate Management Admission Council (GMAC) is a global,
nonprofit association of 220 leading graduate business schools. Founded in
1953, we are actively committed to advancing the art and science of admissions
by convening and representing the industry and offering best-in-class products
and services for schools and students. GMAC owns and administers the Graduate
Management Admission Test® (GMAT®), used by more than 6,500 graduate programs
worldwide, and the NMAT by GMAC(TM) exam, for entrance into graduate management
programs in India. The Council is based in Reston, Va., with offices in London,
New Delhi (Gurgaon) and Hong Kong. For information on assessments, study tools
and services for candidates, visit www.mba.com. For information about The
Council and our market intelligence, professional development opportunities and
services for graduate management education, please visit www.gmac.com.
MEDIA CONTACT:
Jennifer Garfinkel; Director of Media Relations, GMAC
+1 (703) 668-9805 or jgarfinkel(at)gmac.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Graduate Management Admission Council via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2017 - 06:01 Uhr
Sprache: Deutsch
News-ID 544056
Anzahl Zeichen: 9377
contact information:
Town:
Reston, VA
Kategorie:
Business News
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