Downfall in MBA Applications

A trend survey by Graduate Management Admission Council (GMAC) has revealed that applications for full time MBA program have slumped for the second year in a row. On the other hand, the volume of applications for part-time and executive MBA has either gone up or flat.

GMAC President and CEO Dave Wilson, in a press release said that, it is due to economic uncertainty. Few things came as a surprise in this year's survey as students ponder upon the financial and time aspects to pursue a graduate business degree, said by Wilson.

He also said that, there is a considerable increase in the applications for master's programs in accounting, management, and finance by 51 percent, 69 percent, and 83 percent respectively. MBA applications suffer a sort of boom and bust, it goes high during bad times and down during good times.

In the beginning of this year, when applications were submitted, future seems to be bright but double-dip recession was much talked about. However, there should always an increase in MBA applications, instead facing a downfall.

GMAC has surveyed 649 programs from 331 business schools worldwide and then released this report but it doesn't release the application figures for specific schools.

Lets see what's next in the store!

Source: Richha Bhatnagar (Shiksha Team)