The Current Global MBA Market
Aug 18th 2022 - 07:1350 0
A global MBA is to help students build a wide variety of managerial and business abilities that are applicable to many different international industries. As a result, the training improves your employment possibilities and opens up opportunities to numerous jobs abroad.
There are more than 7,000 graduate management schools globally, according to a study by the Graduate Management Admission Council (GMAC), the biggest and most commonly regarded study of its kind in the business. Over 1,757 MBA programmes are available in the US alone.
Due to its size and dynamism, the MBA market is characterised by several regional variations and current trends. Here is our overview of the standout characteristics and the most recent advancements and trends in the most well-established MBA marketplaces to help you.
The European MBA exhibits tenacity
Business schools in Europe often provide shorter programs. European MBAs are renowned for their many business specialisations, including fashion, luxury goods, wine trading, and football, as well as the chance to study a foreign language.
The majority of the students at European business schools come from abroad. These overseas candidates are precisely what have been driving the expansion of full-time, one-year MBA programmes in Europe. International candidates made up a remarkable 90% of the applicant pool.
The US MBAs
While there are US programmes that span just a year, the best MBA programmes typically last two years. The number of foreign students enrolling in domestic business programmes has been declining since 2014, despite the high calibre and appeal of business education in the United States. According to GMAC, only one third of programmes reported rising application volumes in 2017 while 64% experienced a fall. There are a number of causes behind that. One is the growing US economy, which lessens business professionals' incentives to invest in education in order to advance their jobs. Another factor is the country's political climate, which prospective international students currently view as unwelcoming. The inclination of business professionals to choose shorter and less expensive courses may also be to blame for the decline.
Asian business schools
Much like the area itself, the MBA landscape in Asia-Pacific is highly diverse. Most full-time MBA programmes are 16 to 18 months long, however many business schools offer individualised programmes. It is challenging to make generalisations about internationalisation for the entire area.
The transition of this region of the world into the region with the fastest economic growth globally is one of the causes of this development. The job market and MBA graduates looking to work in the area both gain from this expansion. The full-time MBA programmes there are flooded with business professionals. Most programmes in East and Southeast Asia reported increases in the number of applications received. The figures were even more stunning in India.
The MBA industry is as active as ever. Application levels are healthy, barring any issues that a portion of the American market may be experiencing. With businesses usually holding MBA graduates in high regard, career prospects also appear promising. The degree has exhibited extraordinary resilience in the face of political challenges, which many people had expected would severely hurt the market for management education.
Also read: Top Benefits of Getting an MBA in Europe