Written ByRituparna Nath Content Writer at Study Abroad Exams
Around 18,00 students have shown interest in the GMAT application trends as shown in the new GMAC survey. The survey shows that more than half of the prospective students affirm that admission exams improve reliability, fairness, and transparency in evaluating the students of B-schools.
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The annual survey of GMAT application trends shows the current market and the volume of applications from diverse regions. The students who are considering business master’s programs show that the journeys of domestic and international candidates vary in the context of pandemic-induced uncertainty. This suggests that business schools need to design data-informed strategies to balance growth in GMAT applications with the quality and diversity of enrolled students.
GMAT Application Trends in 2021
The GMAC survey shows the decline in the proportion of candidates applying for overseas Graduate Management Education. The report claims that they are concerned about the impact of COVID19 on their pursuit of GME in 2021. Also, the demand for GME in 2021 has increased as candidates show a willingness to explore different paths to achieve their career goals. This report identifies three notable drivers of growth in demand for GME which are employability, flexibility, and regional mobility.
- Employability: Skills gap triggers consideration of GME for job market competitiveness
- Flexibility: Flexibility expands the consideration of online learning among women
- Regional Mobility: Mobility restrictions drive consideration of alternatives closer to home
Reconfiguration of the enrollment funnel
Tracking Diversification of Applicants
The GMAC report is based on data collected between July and December 2020 from a total of 2,515 individuals worldwide who indicated plans to enroll in a GME program in 2021.
This report also illustrates the diverse candidate journeys, emphasizing variations by putting forward the study destination (domestic vs. international) and wants program type (MBA vs. business master’s).
- MBA-Domestic: Candidates want to enroll in an MBA program within their country of citizenship. For instance., an Indian citizen indicating a preference to pursue an MBA program in India.
- MBA-International: Candidates favor enrolling in an MBA program outside their country of citizenship. For instance, an Indian citizen indicating a preference to pursue an MBA program in the US.
- Business Master's-Domestic: Candidates prefer to enroll in a business master’s program within their country of citizenship. E.g., an Indian citizen indicating a preference to pursue a business master’s program in Germany.
- Business Master's-International: Candidates wanting to enroll in a business master’s program outside their country of citizenship. E.g., an Indian citizen indicating a preference to pursue a business master’s program in the US.
Applicants concerned about the Covid-19 pandemic
The students preferring to pursue GME in 2021 is seen that the level of concern about the impact of COVID-19 has been declining over time. The proportion of respondents has declined from 41 percent in July to 33 percent in December.
Specifically, 41 percent of international candidates planning to pursue a business master’s program report that they are very or extremely concerned about the impact of COVID-19 as compared to 27 percent of domestic candidates.
Candidates aspiring to pursue GME 2021
The pandemic situation has expanded the number of students considering GME as they discovered a lack of competitive skills in a job market. Overall, more than one-third of the prospective candidates (37%) reported that they wanted to apply for a job but lacked the required skills and/or degrees to be competitive. To be specific, Business Master’s-Domestic candidates were most likely to report a skill gap (50%), perhaps because they had zero or insufficient work experience to demonstrate skills for the job they wanted.
Here is the chart showing students considering GME:
Gender-specific applicants for GMAT
These days women are embracing online learning at a higher level than men. Despite the challenges, many female candidates recognized the need to invest in GME for career advantage and were willing to adapt their plans to obtain the degree.
Here is the percentage of candidates reporting willingness to complete more than 30 percent of their graduate business degree online due to COVID-19
| Gender | MBA-Domestic | MBA-International | Business Master’s Domestic | Business Master’s International |
|---|---|---|---|---|
| Female | 60% | 30% | 66% | 43% |
| Male | 52% | 24% | 59% | 38% |
There is a certain percentage of students who strongly disagree with the fact that online classes provide the same importance and campus placement is done as the on-campus classes.
| Gender | MBA-Domestic | MBA-International | Business Master’s Domestic | Business Master’s International |
|---|---|---|---|---|
| Female | 17% | 24% | 10% | 20% |
| Male | 24% | 35% | 24% | 29% |
Different aspirants pursuing GME
Around 37% of all candidates report that they are prompted to apply for a graduate business degree as they wish to apply for the job but they lack the appropriate skills to be competitive. Here is a table showing different triggers for pursuing GME:
| Triggers | Overall | MBA-Domestic | MBA-International | Business Master’s Domestic | Business Master’s International |
|---|---|---|---|---|---|
| I always planned to pursue a graduate business education at this point | 58% | 52% | 61% | 48% | 65% |
| Wanted to apply for a job, but lacked required skill, and/or degree to competitive | 37% | 39% | 33% | 50% | 36% |
| Convenient time to go to school | 30% | 37% | 26% | 35% | 23% |
| I realized I lacked specific knowledge in my current job | 21% | 18% | 24% | 24% | 21% |
| I had the financial resources to apply | 20% | 22% | 18% | 29% | 19% |
Growth or Decay in the Number of Candidates in Different Countries and Courses
From the survey, it is undeniable that the number of candidates aspiring for an overseas business degree has decreased a little bit. Check the details in the graph below here:
*The article might have information for the previous academic years, which will be updated soon subject to the notification issued by the University/College.
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