A survey by the Graduate Management Admissions Council shows that applications to business schools continue to grow. The 2007 Application Trends Survey shows that application rates from women to business schools have risen, as well, according to GMAC President and CEO Dave Wilson.
"We've just conducted a survey of 445 MBA programs at 252 business schools around the world, in every country of the world, and every kind of program—full-time, part-time and executive MBA. Application volumes at every kind of program everywhere in the world have increased dramatically over 2006. And for the first time I think I've noticed in my 12 years here, a number of institutions are targeting women in their recruiting efforts. And those schools that target women are getting triple the applications from women as opposed to programs that don't. And their doing that by going into the search engine G-mass, which test-takers can check off, and they're actually going explicitly after women to join their programs."
Almost two-thirds of full-time business education programs report they are experiencing more applications than in 2006. Statistics indicate more MBA candidates are traveling overseas for higher education.
"What we're seeing for the first time is a significant growth in the number of U.S. citizens who are applying to go to school outside the country. Now, the vast majority—overwhelming majority—still apply to schools within this country. And so the MBA has become a global degree. And while we've always seen candidates from outside the United States come here, we're now seeing Americans go overseas, as well as candidates come here."
Wilson says the upward swing in business school applications indicates continued demand for MBAs.
"I think it's safe to say that we're going to see a very strong year, and based on the leading indicator I have for applications, Ed, is the G-mat volumes. G-mat volumes, as of today, are up this year about 12 percent—a little of eight percent domestically and 21 percent internationally. And so that would suggest that we're going to see a continuation in this surge of demand for MBAs."
The GMAC survey shows a significant increase in the number of MBAs seeking work in the non-profit sector.