Two-thirds of graduate management programs in Asia and the Pacific Islands reported decline in applications according to the annual survey released by the Graduate Management Admission Council (GMAC).
GMAC, a global association representing leading business schools, published findings from the 2023 survey results to provide data and insights to better understand current trends in applications to graduate management education (GME) programs.
The report has it that in the Asia and Pacific Islands, the absolute total number of applications dipped by six percent.
“A drop in domestic applications appears to have led the trend, with an eight percent drop in total applications from domestic candidates. This compares to a three percent drop in total applications from international candidates. It appears the drop in total applications was felt across a number of programs rather than concentrated in a few, which was more the case globally. Two-thirds of programs in Asia and the Pacific Islands reported declines in their applications. This is the second year in a row that more programs than the year before reported declines in applications,” the report reads.
However, amidst Polarizing Global Trends, American BSchools have experienced a domestic demand rebound. Globally, the total applications to graduate business school programs in 2023 dipped by approximately five percent. However, more programs than last year reported growth in their applications—indicating that the drop in applications was not felt evenly.
The survey found that many candidates are still interested in traditional, competitive, full-time programs, but online, hybrid, or evening options were much more likely to report application growth. Interestingly, applicants seeking out top-ranked programs may not necessarily be looking for the same flexibility as the others, but many candidates are more willing to sacrifice prestige for flexibility.
“As post-pandemic attitudes toward work continue shifting and preferences for educational offerings continue evolving, the business school community as a whole is quickly adapting,” said Joy Jones, CEO of GMAC. “From degreed programs to new certificates, concentrations, executive education, and micro-credentials, there is a wealth of options appealing to a wide spectrum of candidates in different stages of career and life. It serves as a testament to how business schools rise to the challenge to meet the needs of today’s business school aspirants who will undoubtedly benefit from graduate business education.”
Source: PTI
Also read: Interview: Gaurav Srivastava, regional director, GMAC
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