Monday, January 20, 2020
Bloomberg Businessweek, Why MBAs Are Thriving Everywhere but America:
At a glance the MBA might appear to be in trouble.
Applications worldwide to advanced business programs dropped 6.9% this year, according to the Graduate Management Admission Council (GMAC), which administers the GMAT test, a key benchmark for prospective students. But the world outside America tells a very different story.
Two-thirds of European full-time MBA programs reported an increase in applications in 2019, with a similar number in Asia reporting growth, the GMAC data show. And more than half of Canadian business schools have seen an increase. Contrast that with the U.S., where a booming labor market and ballooning tuition fees have contributed to declines at three in four full-time MBA programs.
Non-U.S. students who might ordinarily flock to the prestigious American programs are turned off by the Trump administration’s hostile environment for immigrants, supporting universities in their home countries. And a broader shift in the base of power toward emerging economies, coupled with countries like China engaging more on the global stage, makes outward-facing MBA programs more popular than ever.
Bloomberg Businessweek spoke with deans at five business schools across Canada, Asia and Europe of varying sizes and rankings in our annual survey. They gave their elevator pitch on why it’s more important than ever to get an MBA outside the U.S.