77 Percent of Full-Time MBA Programs Report an Increase in Applicant Volume
MCLEAN, Va., Aug. 27 /PRNewswire/ -- Prospective MBAs are knocking on
the doors of the world's business schools at a rapid pace this year, with
the majority of graduate management education programs indicating that they
received more applications in 2008 than in 2007, according to a new report
from the Graduate Management Admission Council(R) (GMAC(R)).
Application levels for the upcoming school year were especially strong
in full-time programs. Among full-time MBA programs participating in the
2008 GMAC Application Trends Survey, 77 percent - the highest level in five
years - said they saw application levels increase. This compares with 64
percent in 2007 and reflects the second-largest year-over-year surge in
applications to full-time MBA programs since the survey was first conducted
by GMAC in 2000.
Part-time and executive MBA programs also reported rising application
levels, although not at the same pace as their full-time counterparts.
Sixty-one percent of part-time programs said applications were up in 2008,
compared with 69 percent in 2007 and 62 percent in 2006. For executive
programs - typically aimed at people with more career experience than
applicants to other types of MBA programs - the figure for 2008 was 60
percent, down from 63 percent a year ago.
"Going to business school is one of the best ways to improve your
marketability and expand your options anytime - but especially in this
challenging economic climate," said Dave Wilson, president and CEO of GMAC.
"The dramatic increase in applications for slots in graduate business
programs that is reflected in our survey is a sure sign that people
recognize the value of investing in an MBA. The ROI on an MBA continues to
be strong."
The 2008 Application Trends Survey includes responses from 521 graduate
management programs at 273 educational institutions in the United States,
Europe and other parts of the world. About two-thirds of the respondents
are U.S.-based.
Application levels to MBA programs are showing strength amid a
record-setting period for the Graduate Management Admission Test(R)
(GMAT(R)), which is used as part of the admissions process at thousands of
MBA programs around the world. The GMAT was administered 246,957 times
during the testing year that concluded June 30, 2008, representing the
busiest testing year ever for the exam. The GMAT is owned by GMAC.
In addition, GMAC researchers have found that people with MBAs are
having substantial success in the job market. Three months prior to
graduation, 57 percent of the MBA students who participated in the 2008
GMAC Global MBA(R) Graduate Survey said they had received an offer of
employment-the highest percentage since 2001.
The Graduate Management Admission Council (http://www.gmac.com), based in
McLean, Va., is a nonprofit education organization of leading graduate
business schools worldwide dedicated to creating access to and
disseminating information about graduate management education. GMAC
annually surveys thousands of corporate recruiters, MBA students and
business school alumni to gauge their feelings about the job market and
collect other data. The Graduate Management Admission Test (GMAT) is used
by approximately 4,000 graduate management programs at some 1,800 business
schools around the world to assess applicants. The GMAT was created in 1954
and remains the first and only standardized test specifically designed for
graduate business and management programs. More information about the GMAT
is at http://www.mba.com.
SOURCE Graduate Management Admission Council
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Related links:
http://www.gmac.com
http://www.mba.com
CONTACT:
Sam Silverstein, Graduate Management
Admission Council, +1-703-245-4317, mobile +1-703-625-0467,
ssilverstein@gmac.com
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