Indian students are driving global demand for MBA programmes.
Professionals from industries such as banking, retail and finance are looking at the MBA programme as a tool to jump-start their careers. While there is steady interest in foreign schools, Indian b-schools are also reporting an increase in applications.
Piyush Saxena, a mid-level manager at a retail company in Delhi is taking a year off from work to join an MBA programme in the United States. “This is probably the best time to get an MBA degree as far as my line of work is concerned,” reckons Saxena.
India’s retail sector is set for unprecedented growth with foreign giants such as IKEA and consumer brands such as Starbucks crafting their India stories. Saxena is hopeful of getting a top job with an international retail brand when he returns to the country after completing his degree.
With Asian economies such as India and China establishing themselves as powers to reckon with in the global arena, there is an increased demand for trained managers and management professionals who can thrive in an international setting. Students from these countries are looking for full-time MBA programmes that deliver quality education and international exposure giving them an edge over others.
Research from the latest Annual Application Trends Survey conducted by the Graduate Management Admission Council (GMAC) has revealed that worldwide, Indian, Chinese, and US citizens accounted for the greatest number of foreign applicants to MBA programmes for 43 per cent, 27 per cent, and 6 per cent of MBA programmes, respectively. According to the survey, 83 per cent of MBA programmes in India which accept GMAT scores have also reported an increase in applications.
According to the GMAC survey, 80 per cent of two-year business programmes in Central Asia - a section dominated by Indian schools – have reported higher applications. Though impacted by the worldwide recession the Indian economy is not as badly hit as those closely integrated with the US economy, such as those in Europe.
The survey stated that "Indian business school graduates in 2012, reported large percentage gains in post-degree earnings compared to pre-degree salaries."
Also Indian business schools have emerged as the top study destination for Asians: receiving 41% of GMAT scores sent to top 10 Asian countries. "India and China are the leading Asia Pacific countries contributing to the influx of applications for the full time MBA programmes. The overwhelming response clearly indicates the value placed on quality graduate management education by candidates from this region," says Ashish Bhardwaj, regional director, South Asia, GMAC.
With globalization, the focus has shifted to acquiring skills for success in an international marketplace. Indian applicants are considering MBA programmes that combine academic knowledge, business exposure, learning and cross-cultural experience. Explains Sofia Ribeiro, Director, Marketing & Admissions, The LISBON MBA: “To successfully manage international teams, you’ll need a cultural sensitivity – which is best earned when travelling and working abroad.”
Adds Shirin Jarrar, Director of MBA Programmes, Edinburgh Business School, Dubai Campus: “There are numerous benefits to studying for a Masters in Business Administration (MBA) with common drivers among participants. Career progression, personal development, a desire to acquire new skills and knowledge, and the opportunity to network with like-minded senior managers from differing backgrounds and nationalities are just some of the reasons that students choose an MBA programme.”
According to QS TopMBA.com Applicant Survey 2012, global motivations for taking an MBA are still dominated by the desire for career progression and to learn new skills, followed by attaining a leadership position. Building a professional network and seeking a salary increase, though less important, increased in relevance year-on-year.
“We go to business school for two years, but the network that we build at school stays with us for the rest of our lives,” agrees Daljit Kochhar, director - KT Advisory, a consulting firm based in India. Kochhar is an MBA graduate from the University of Chicago’s Booth School of Business.
Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds observes: “This year, there is a clear preference amongst global applicants responding to the survey towards career goals rather than lifestyle choices when selecting where to study. Reasons such as ‘would like to work there afterwards’ and ‘create a network’ have proven more popular explanations for selecting a study destination when compared to 2011, while choices such as ‘cultural interest and lifestyle’, and ‘improve language skills’ have dropped considerably in popularity.
The QS survey also indicates that the dominant MBA study destinations remain the USA and UK, but both markets continue to show year-on-year declines in popularity, as have other English-speaking destinations such as Canada and Australia. The popularity of the USA, which was a target destination for almost 80% of respondents as recently as 2007, has dropped significantly. However, it still retains top position by a large majority, attracting 62% of respondents.
Adds Ribeiro: “India is one of the two largest potential markets for us. We get a good number of students from India and would like to focus more on recruiting students for our 2013 programme.” Confirms Sherry Wallace, Director, MBA Admissions, Kenan-Flagler Business School, University of North Carolina at Chapel Hill: “The enrollment of Indian citizens was about 20 per cent higher for Fall 2012 entry than it was in Fall 2011. However, the number of applications for Fall 2012 entry was higher than Fall 2010 entry, but lower than Fall 2011.”
(Published in QS TopMBA)
Professionals from industries such as banking, retail and finance are looking at the MBA programme as a tool to jump-start their careers. While there is steady interest in foreign schools, Indian b-schools are also reporting an increase in applications.
Piyush Saxena, a mid-level manager at a retail company in Delhi is taking a year off from work to join an MBA programme in the United States. “This is probably the best time to get an MBA degree as far as my line of work is concerned,” reckons Saxena.
India’s retail sector is set for unprecedented growth with foreign giants such as IKEA and consumer brands such as Starbucks crafting their India stories. Saxena is hopeful of getting a top job with an international retail brand when he returns to the country after completing his degree.
With Asian economies such as India and China establishing themselves as powers to reckon with in the global arena, there is an increased demand for trained managers and management professionals who can thrive in an international setting. Students from these countries are looking for full-time MBA programmes that deliver quality education and international exposure giving them an edge over others.
Research from the latest Annual Application Trends Survey conducted by the Graduate Management Admission Council (GMAC) has revealed that worldwide, Indian, Chinese, and US citizens accounted for the greatest number of foreign applicants to MBA programmes for 43 per cent, 27 per cent, and 6 per cent of MBA programmes, respectively. According to the survey, 83 per cent of MBA programmes in India which accept GMAT scores have also reported an increase in applications.
According to the GMAC survey, 80 per cent of two-year business programmes in Central Asia - a section dominated by Indian schools – have reported higher applications. Though impacted by the worldwide recession the Indian economy is not as badly hit as those closely integrated with the US economy, such as those in Europe.
The survey stated that "Indian business school graduates in 2012, reported large percentage gains in post-degree earnings compared to pre-degree salaries."
Also Indian business schools have emerged as the top study destination for Asians: receiving 41% of GMAT scores sent to top 10 Asian countries. "India and China are the leading Asia Pacific countries contributing to the influx of applications for the full time MBA programmes. The overwhelming response clearly indicates the value placed on quality graduate management education by candidates from this region," says Ashish Bhardwaj, regional director, South Asia, GMAC.
With globalization, the focus has shifted to acquiring skills for success in an international marketplace. Indian applicants are considering MBA programmes that combine academic knowledge, business exposure, learning and cross-cultural experience. Explains Sofia Ribeiro, Director, Marketing & Admissions, The LISBON MBA: “To successfully manage international teams, you’ll need a cultural sensitivity – which is best earned when travelling and working abroad.”
Adds Shirin Jarrar, Director of MBA Programmes, Edinburgh Business School, Dubai Campus: “There are numerous benefits to studying for a Masters in Business Administration (MBA) with common drivers among participants. Career progression, personal development, a desire to acquire new skills and knowledge, and the opportunity to network with like-minded senior managers from differing backgrounds and nationalities are just some of the reasons that students choose an MBA programme.”
According to QS TopMBA.com Applicant Survey 2012, global motivations for taking an MBA are still dominated by the desire for career progression and to learn new skills, followed by attaining a leadership position. Building a professional network and seeking a salary increase, though less important, increased in relevance year-on-year.
“We go to business school for two years, but the network that we build at school stays with us for the rest of our lives,” agrees Daljit Kochhar, director - KT Advisory, a consulting firm based in India. Kochhar is an MBA graduate from the University of Chicago’s Booth School of Business.
Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds observes: “This year, there is a clear preference amongst global applicants responding to the survey towards career goals rather than lifestyle choices when selecting where to study. Reasons such as ‘would like to work there afterwards’ and ‘create a network’ have proven more popular explanations for selecting a study destination when compared to 2011, while choices such as ‘cultural interest and lifestyle’, and ‘improve language skills’ have dropped considerably in popularity.
The QS survey also indicates that the dominant MBA study destinations remain the USA and UK, but both markets continue to show year-on-year declines in popularity, as have other English-speaking destinations such as Canada and Australia. The popularity of the USA, which was a target destination for almost 80% of respondents as recently as 2007, has dropped significantly. However, it still retains top position by a large majority, attracting 62% of respondents.
Adds Ribeiro: “India is one of the two largest potential markets for us. We get a good number of students from India and would like to focus more on recruiting students for our 2013 programme.” Confirms Sherry Wallace, Director, MBA Admissions, Kenan-Flagler Business School, University of North Carolina at Chapel Hill: “The enrollment of Indian citizens was about 20 per cent higher for Fall 2012 entry than it was in Fall 2011. However, the number of applications for Fall 2012 entry was higher than Fall 2010 entry, but lower than Fall 2011.”
(Published in QS TopMBA)
