There appears to be a drop in interest from overseas applicants to U.S. MBA programs, according to Kumar Anand of the Economic Times in an article titled: “Number of Applicants for Executive Management in Indian B-Schools Rises.”
Anand cites the example of Jorawar Singh, an Indian young professional seeking an MBA degree inside India and not the likes of Boston and Ohio B-Scools. This is unusual for many Indian MBA applicants, as well as applicants from other countries, too, as U.S. schools are typically the most sought after in terms of admission. Anand writes: “In all, 42% of the full-time MBA programs in the U.S. reported a decline in the number of foreign applicants. Of these, as many as 70% reported the largest decrease in number of applications from India.”
Jorawar Singh, the young professional Anand cites, feels a one-year B-School in India will help him get a job after graduation in India, as opposed to going overseas and then returning to look for work. Singh contributes, by saying: “Today, quite a few Indian B-Schools are offering quality executive management program at much cheaper cost.” Anand adds to this, saying that a number of Indian MBA applicants favor Indian B-Schools over U.S. B-Schools because the quality of education is much higher in India than is used to be, not to mention the cheaper cost.
Dave Wilson, president and CEO of GMAC (Graduate Management Admission Council) claims:
“More Indians prefer Indian B-Schools over B-Schools in the U.S. Of late, India has been offering world-class management education. Less expensive quality education provided by Indian B-Schools remains a big draw for Indian students. People are interested in pursuing MBAs from the geography where they could continue working, and India has emerged as a preferred destination for many.”
Curious to know the facts supporting these statements? Anand claims that a total of 17,488 applications were submitted to Indian B-Schools in 2008. That number is five times higher than seen in 2004, according to the GMAC. At the moment, 24 Indian B-Schools accept GMAT scores for 53 programs.
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