B-School Applications Drop for Fourth Year in a Row
Full-time MBA programs are still having trouble attracting applicants these days....at least in the U.S.
A whopping 62% of U.S. business schools said they saw a drop in applications for the classic two-year full-time MBA program, according to a new survey by the Graduate Management Admissions Council (GMAC).
That's the fourth year in a row stateside MBA programs have seen a decline. But abroad, school's offering similar programs experienced an increase in applications. GMAC surveyed 527 MBA programs (or programs similar) worldwide.
In the U.S., Columbia Business School's prestigious two-year program applicant pool shrank 19% after four years of increasing, reports The Wall Street Journal. The outlet added that applications to Yale's MBA program fell 9.6% this year, and applications to Dartmouth College's Tuck School of Business decreased 8.8%.
Several participants in the GMAC survey explained the slowdown. “Reluctance to leave full-time position,” one U.S. admissions professional told GMAC. Another said, “The economy is picking up and students are finding full-time jobs or have received promotions and do not want to leave to go back to school for two years.”
Overseas, however, the news was better. The survey showed an increase in applications to MBA programs. A hefty 80% of schools in Central Asia that offer full-time programs reported an upswing, while 79% of schools in the Asian-Pacific region noted an increased number of applications.
The survey revealed both a steady (11%) and rising (41%) application number for part-time MBA programs in the U.S.