India and China are the Largest Market for B-Schools

By siliconindia   |   Monday, 26 September 2011, 22:50 IST   |    7 Comments
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Bangalore: Even though the overall application volume for the full-time MBA program continues for the 3rd consecutive year, India is contributing most number of foreign applicants for the 2 year full-time MBA programs. Although 61 percent of programs report that India is their top source of foreign talent, applicants from India, China, and other Asia-Pacific countries are considered as the largest source of foreign applications for full-time programs around the world, reports Manash Pratim Gohain from Times News Network. According to an Application Trends Survey conducted by the Graduate Management Admission Council (GMAC), 39 percent of programs reported that India is their fastest growing source of foreign applicants. At the same time, the number of applicants from China who are interested to study abroad has also increased and the percentage of programs reporting that China is also their largest rising sources of foreign applicants increased to 39 percent. These developments make India and China as the single largest market for these B-schools. Ashish Bharadwaj, GMAC's regional director for South Asia told that India and China are the leading Asia Pacific countries contributing to the entry of applications for the full-time MBA programs. A total of 649 programs from 331 B-schools and faculties worldwide had participated in this annual study, which was conducted from early June to mid July this year. This survey has been an annual feature since 2000. The key findings of this survey was that more than two-thirds (67 percent) of participating 2 year full-time MBA programs reported a decline in application volume in 2011 than compared to 2010. The decline was most common among non-U.S programs, where 62 percent reported a decline when compared with 49 percent of U.S programs. But specialized master's programs like Master of Finance program led the trend with 83 percent which reported an increase in application volume over the last year, and it was followed by Master in Management programs at 69 percent and Master of Accounting programs at 51 percent. Though MBA programs saw a decline in applications, when compared to increased applications for specialized master's programs, both the programs reported that the quality of applicants and their academic qualifications are higher in 2011 than for applicants in 2010. Dave Wilson, president and CEO of GMAC told that the caution in this year's survey for full-time MBA programs is unsurprising in the current economy, because, the students weigh the financial and time commitments required to pursue a graduate business degree.