Amid the rising popularity of an international MBA tag, global changes are shaping the dynamics of where students are flying.
A survey reveals that the percentage of non-US citizens who say they are now less likely to study in the land of the free has grown to 43% in April 2017 from 35% in November 2016. Similarly, a country-level analysis has revealed that Indian candidates are negatively influenced by the Brexit vote, with 58% reporting that it has made them less likely to study in the UK. Countries such as Canada, Australia, Germany and New Zealand seem to be gaining from the waning sentiment towards the top two education destinations due to the closed climate.
A recent Graduate Management Admission Council (GMAC) survey states that nearly three of five prospective business school students (59%) intend to apply for programmes outside their home country , up from 44% in 2009.
Most study abroad to receive a higher quality education (63% of the respondents), to increase their chances of securing international employment (58%), and to expand their international connections (51%). Since November 2016, a gr owing share of internati onal candidates say they are now less likely to pursue a graduate business degree in the US due to presidential election results,“ states the survey.
A third (34%) of the candidates who prefer to study outside their country of citizenship intend to seek employment in the country where they prefer to attend school. Fresh research also shows that three out of four B-school aspirants hold a prior master's degree.The survey reveals that MBA remains the final sign-off or predominant programme considered by candidates with both prior business master's degrees (61%) and non-business master's degrees (86%).“These findings demonstrate that a business master's degree is not necessarily the end of graduates' business education,“ said Sangeet Chowla, president and CEO, GMAC. “For many , their business master's degree is a stepping stone to continued professional development that may include an MBA down the road, in either afullor part-time format.“
Rising cost of an MBA degree also plays on candidates' mind. Around half of the sur veyed candidates indicated that not having enough money for their education (52%) and potentially having to take on large debts (47%) may prevent them from pursuing a graduate business degree.
The two most important financial aspects that candidates evaluate when deciding where to apply are total tuition costs and scholarship availability. “Compared with 2009, candidates, on an average, expect to cover a greater share of the cost of education with grants, fellowships, scholarships and a smaller share with parental support, loans, and employer assistance,“ the survey says.