Tuesday, April 07, 2015

India among top nations for MBA aspirants

For those who pursue graduate management education globally, foreign universities top the preference list. While the US remains the most sought-after destination, India is among the top five, show the findings of the Graduate Management Admission Council's mba.com Prospective Students Survey.

According to the survey - it explored the motivations, behaviours, programme choices, and intended career outcomes shared by nearly 12,000 individuals across 30 countries who registered on mba.com from October 2013 through September 2014 - prospective students can be segmented into three groups based on career goals: career enhancers (34% of survey respondents), career switchers (38%) and aspiring entrepreneurs (28%). Around 28% of survey respondents indicated they plan to start their own businesses, compared with 19% five years ago.

Respondents in Africa (45%), Latin America (44%) and Central and South Asia including India (43%) led this segment. Contrary to popular belief, when students listed their top five consideration criteria for selecting a programme and study destination, rankings didn't count. More than half the prospective students (52%) sought to study outside their country of citizenship, up from 40% in 2010.

This growing preference for international study is most notable among citizens of Asia-Pacific (94% in 2014, up from 88% in 2010) and the Middle East (72% in 2014 vs 58% in 2010). The top 10 preferred study destinations are the US, UK, Canada, France, India, Hong Kong, Germany, Singapore, the Netherlands and Australia. While 53% Indians preferred studying in the US, 21% and 7% showed inclination towards India and the UK, respectively.

The US remains the top international study destination for two-thirds of prospective students across the globe; however, this is a decrease from 73% in 2010. Among the other top locations, 6% wanted to study in the UK, 5% in Canada, 3% each in France and India, 2% each in Hong Kong, Germany, Singapore, the Netherlands and 1% in Australia.

Between 2010 and 2014, the locations that experienced the greatest increase in interest by prospective students were Hong Kong (+2.4% points), Canada (+1.0% points), Germany (+1.0% points), the Netherlands (+0.7% points), France (+0.7% points), the UK (+0.6% points) and Australia (+0.6% points).

Gauging the interest of prospective students across more than 25 MBA and specialised business master's program options, 26% of today's candidates are considering both degree types.

MBA programs are exclusively considered by half (52%), globally. Among these students, the programmes as per their preference are: full-time two-year MBA (32%), full-time one-year MBA (27%), part-time MBA (15%), flexible MBA (7%), online MBA (6%), executive MBA (6%) and joint degree programme with MBA (3%). Specialised business master's programmes are exclusively considered by 22% of prospective students, globally.

Source: The Economic Times, April 7, 2015

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