International applications to business schools soared as domestic demand softened - GMAC survey

KUALA LUMPUR, Oct 27 (Bernama) -- Total applications to graduate business schools dipped from the pandemic-level spikes, slipping 3.4 per cent year-on-year among a matched sample of programmes, according to the Graduate Management Admission Council (GMAC) survey report. 

The GMAC 2022 Application Trends Survey revealed that this comes after application volumes increased 2.4 per cent year-on-year in 2020 amid the start of the pandemic and sustained that level of demand in 2021 when schools reported a 0.4 per cent year-on-year increase. 

As the pandemic’s effects on mobility lessened this admissions cycle, however, international applications saw a remarkable rebound, particularly for those applying to programmes in the United States (US). 

Most US programmes reported international application increases, especially full-time two-year MBA programmes (80 per cent of programmes) and STEM-designated programmes (61 per cent). 

“Similarly in Europe, most MBA programmes either saw stability or more applications from abroad this year,” GMAC said in a statement.

The survey also revealed that applications to business master’s programmes ticked up, riding the wave of international interest. Global applications to business master’s programmes — including master in management, master of finance, and master of data analytics — grew year-on-year by 3.2 per cent.

In addition, Asia has retained more talent in-region while Canada experienced a reverse in application trends. 

Business schools in the Asia region were able to attract otherwise mobile candidates during the pandemic, while Canadian programmes saw significant drops in both domestic and international applications.

The survey was conducted between July and September with application figures submitted by 950 programmes of 264 business schools in 33 countries worldwide, aiming to examine the rapidly shifting landscape of demand for graduate management education programmes.

An annual survey in its 24th year, the 2022 study reflected perhaps the end of the pandemic-disrupted years and offers insight into how the post-pandemic market may take shape.

-- BERNAMA