The total number of applications to graduate business schools has seen a dip this year, according to a survey report released today by the Graduate Management Admission Council (GMAC).
This dip comes as a surprise as the number of applications had increased 2.4 per cent year-on-year in 2020, despite the covid pandemic and had also sustained the same level of demand in 2021.
There was an increase in specialised programmes in the US such as master of supply chain management (93 per cent), master in marketing (76 per cent), and master of data analytics (61 per cent).
However, international applications observed a rebound due to people applying to programmes in the United States. The report states that the majority of the US programmes reported an increase in the international application, especially full-time two-year MBA programmes (80 per cent) and STEM-designated programmes (61 per cent). Similarly, in Europe, most MBA programmes either saw stability or more applications from international candidates this year.
Business schools in the Asia region were able to attract otherwise mobile candidates during the pandemic and were also able to retain more talent in-region. Canada, however, saw significant drops in both domestic and international applications.
Interestingly, majority of the programmes in Europe (58 per cent) and Asia (57 per cent) grew or sustained women’s representation in applicant pools.
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