The Graduate Management Admission Council (GMAC) conducted a survey, wherein the volume of applications for graduate management programmes (MBA) abroad recorded a surge by 0.4% in 2021 from the previous year.
The council conducted the survey for around 1000 MBA and business masters programs, where the reason for the surge of MBA abroad applications was noted as ease of lockdown restrictions, friendly visa policies, and 2-year work visa.
Sangeet Chowfla, President and CEO of GMAC, said that the Covid-induced recession has put the aspirants to look for alternative career options.
At the same time, the management schools launched more flexible admissions policies, which resulted in a higher number of applications last year, Chowfla said.
Weighted absolute year-on-year change in the overseas applicants whose citizenship varies from the study destinations recorded an increase of 4.1% when compared to a decrease of 3.8 from the local candidates.
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Consequently, many programs in the US, the UK and European colleges/ universities witnessed a decrease in the number of domestic applicants when compared to other regions and countries.
Thus, the difference between domestic and overseas applications is more evident for full-time MBA programs among the top management schools.
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Further, the share of full-time MBA applications from overseas applicants doubled from 28% in 2019 to an increase of 57% in 2021.
Many programs in the US ranked in the top 50 witnessing a rise of 73% applications from foreign applicants and the remaining 36% from domestic applicants.
The full-time MBA programme continued to maintain its popularity amongst the international as well as domestic applicants.
This year, around 52% increase in full-time one-year and 56% of the two-year MBA programme recorded a surge in the applications, more than all programs combined at just 41%.
In addition, there's a rise in applications of 60% (three in five) of women applicants enrolled in full-time two-year MBA programs compared to 43% (two in five) of programs with an increase from male candidates.
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Apart from this, the online MBA programs reported a surge of 42% applications from female candidates, resulting in an upward trend in female candidates' return to physical, full-time learning.
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