The GMAC, the abbreviation of Graduate Management Admission Council recently made the findings of the Application Trends Survey conducted by it in 2015 public. The figures reveal that there was an increase in the number of applications for the most of MBA programs that require full time study irrespective of the one-year or two-year format when compared to 2014 and a decade back.
The Details of the Study
The two-year programs for full time MBAs witnessed 57% increase in terms of the volume of applications in the current year. The trend is echoed in the findings of single year programs too, with 51% of MBA programs reporting increase in the volume of applications. This is contrasted by 37% of one-year MBA programs reporting increase in application volume in the previous year. Both formats are also outperforming the numbers recorded by two year and one year programs ten years back with the figures stating that 60% and 53% respectively reported receiving more applications in the present year than that in 2005. Domestic candidates still do not form the overwhelming majority of MBA with the numbers at 45% in the year 2015. The MBA still figures high on the list of aspirations for students as they show high investment return consistently not only in terms of money but personal fulfilment and job satisfaction as well. The majority of 59% also report growth in domestic applications year-on-year, the highest since 2009.
Towards Gender Equality
An interesting aspect that emerged out of the report reveal that women’s representation in the pool of applicants has seen an increase that range from 3 to 8 percentage points over the last five years irrespective of the type of program. In fact the program of Master of Accounting continued to witness female dominance in terms of representation at 57%.The concentrated efforts of business schools to enlist more women in the student pool are bearing fruit.
To Sum it Up
Not with standing the threats posed by online MBAs, full time programs of both the one year and two year formats continued to witness encouraging increase in the number of aspirants and that bodes well for future managers and business schools alike.