QS TopMBA.com Applicant Survey 2010 The complete series The world’s leading survey of international MBA applicants

Introduction .................................................................................................................2  

 

Authors .......................................................................................................................3 1. Summary of findings ..............................................................................................4 2. Understanding the demographics of MBA applicants .............................................5 3. Employment background of MBA applicants …………………………………………7 4. Employment background by region ........................................................................8 5. Gender trends amongst MBA applicants ...............................................................11 6. Preferred study length ...........................................................................................14 7. Motivations for taking an MBA ...............................................................................16 8. Preferred MBA study mode ...................................................................................18 9. Preferred destinations …………….........................................................................19 10. Reasons for top choice of study destination ........................................................22 11. Criteria for selecting school of choice ..................................................................23 12. Preferred sources of information ........................................................................ 24

QS Quacquarelli Symonds Ltd 1 Tranley Mews Fleet Road London NW3 2DG United Kingdom The entire content of this publication is protected by international copyright. All rights reserved. No part of this publication may be copied or reproduced in any form without the prior written permission of the publisher. Tables and charts may not be re-worked or presented in any other form without written permission from the publishers and excerpts, tables or charts must be sourced: QS TopMBA.com Applicant Survey 2009.

QS TopMBA.com Applicant Survey 2010 Introduction The QS TopMBA.com Applicant Survey 2010 is the largest survey of the mindset and aspirations of MBA applicants ever conducted, continuing the annual research undertaken by QS, the world’s leading education specialists, since 1990. The results provide detailed insight into the status, attitudes, goals and ambitions of MBA applicants worldwide and how they, and the employment and education markets for young professionals, are changing. This survey allows valuable insight into the changing trends of worldwide MBA applicants. Authors Editor - Nunzio Quacquarelli is founder and Managing Director of the international events and media group, QS Quacquarelli Symonds Ltd. Analyst - Esteban Domínguez-Boonefaes is Learning and Development Officer at QS and a member of the QS Intelligence Unit. Survey Sample The 68,000 applicants who registered for the QS World MBA Tour in the fall of 2009 and spring 2010 were surveyed and responses received from 3,895 (5.7%). Those surveyed were primarily young professionals, but also included many more experienced executives. Asia Pacific: 36.3% Africa/Middle East: 18.3% Latin America: 17.6% Eastern Europe: 17.4% Western Europe: 5.5% US /Canada: 4.8% Note to journalists and editors: You are welcome to use any of the tables below but please credit each as the QS TopMBA.com Applicant Survey 2010. Quotes are also available within the text. Ross Geraghty is managing editor of TopMBA.com and the Top MBA Career Guide and is available to discuss this, or other MBA issues. Please contact - email: [email protected]

Tel: +44 (20) 7284 7297

NB: This survey only represents respondents to the QS World MBA Tour Applicant Survey. The figures here are not suggestive of overall figures for attendees at the Tour.

Summary of findings Top MBA Survey – Sample Demographics The QS TopMBA.com survey reveals that the mean age of MBA applicants around the world has dropped to 26.0 from 27.5 in 2010. There has been a big drop in MBA applicants with a finance and banking background in 2010. Applicants from the IT sector have also dropped year on year. The public sector shows increased share of applicants from 3% to 5%. Media is up from 2% to 5%. Other sectors have been broken out for the first time, with healthcare and law both yielding 4% of respondents. Top MBA Survey - Gender trends amongst MBA Applicants Within the Top MBA Survey, 48% of MBA applicants are women in 2010, the highest ever proportion, up from 33% in 2005. Women are slightly more likely than men to consider an MBA program earlier in their careers, with 69% of women seeking to take an MBA with three years or less of work experience (compared to 63% of men). Whereas men have traditionally favoured the two year MBA model, they are now aligned with women in preferring shorter MBA programs; less than 18 months in duration. MBA Programs – Preferred study length Potential students in every region increasingly favour shorter 10-18 month programs over the traditional two year program format, which remains the most common MBA format among North American schools. MBA Programs - Motivations for taking an MBA In 2010 improving career prospects remains the single most important motivator for taking an MBA, followed closely by learning new skills, attaining a leadership position, building a professional network and enabling a career change. For the first time, in 2010, starting own business is as important as boosting salary. MBA Programs – Preferred Study Mode Full time MBA courses remain by far the most popular study mode within our sample. 84% of applicants, when given only one option, opt for a full time MBA program, with 10% selecting a part time MBA. However, distance/online MBA programs are increasing in popularity when applicants have a choice. MBA Programs – Preferred Destinations The percentage of MBA applicants expressing an interest in studying in the US has dropped from 80% in 2008 to just over 60% in 2010, only marginally ahead of the UK at 57%, up from 55% two years ago. The top ten MBA study destinations are: USA, UK, Canada, Germany, France, Spain, Australia, Switzerland, Netherlands and Italy. There are clear differences between the preferred study destinations of MBA applicants across the regions. The USA is still the most popular MBA study destination with domestic, Latin American, Asian and Middle Eastern MBA applicants. The UK is a more popular study destination for most Europeans.

MBA Programs - Criteria for school selection MBA applicants around the world will select a business school, foremost if they are offered a scholarship (first), followed by reputation of the school (second), career placement record (third), strength of faculty (fourth) and return on investment (fifth). Recent school ranking is only the tenth most important selection criteria, continuing a year-on-year slide in significance (it was the second most important criteria in 1995 when QS first conducted this research). MBA Information Sources TopMBA.com is one of the world’s leading websites for information serving MBA applicants. For the last five years, among a sample of MBA applicants from around the world, TopMBA.com and Business Week.com have vied for top place in a league table of most visited websites. In 2010, TopMBA.com has edged ahead of BusinessWeek.com, which is followed by GMAT, FT.com, and Economist.com. In terms of education fairs, it is not surprising that QS World MBA Tour takes top spot, given our sample. What is interesting is that 18% of respondents attended the QS World Executive MBA Tour. Only 7.8% attended our sister fair, the QS World Grad School Tour and only 5% of respondents took part in any online MBA fairs.

Section 2: Top MBA Survey - Demographics of MBA applicants Average Age of MBA Applicants The QS TopMBA.com survey reveals that the mean age of MBA applicants around the world has dropped to 26 from 27.5 in 2010. Where MBA applicants in North America were 27.3 they are now 26.5. Western European MBA applicants have dropped sharpest from 28.7 to 26.4. Applicants from the Middle East are now the oldest on average at 27.7 years. The Asia Pacific region has the youngest MBA applicants in the world at 24.3 years of age. Ross Geraghty, managing editor of TopMBA.com, says: “It’s clear that uncertainty in job markets around the world has seen more fresh graduates looking towards MBA programs as well as young professionals who lost their jobs in the recent downturn. The drop in average age of respondents does not necessarily mean that all business schools are taking less experienced people however. Figures from TopMBA.com (supported by the Association of MBAs data) suggest that the average age of acceptance into the business schools in Europe has increased in recent years, although North American schools have been accepting younger MBAs. “The results suggest that while an increasing number of recent graduates, entering a capricious job market, are looking into business school as an option, European business schools are drawing from the increased number of more experienced MBA applicants around the world. This is creating an opportunity for less well known business schools to recruit younger MBA students.”

Years of work experience The fact that MBA applicants are getting younger and are therefore less experienced is borne out by the following table. It shows that the proportion of MBA applicants with less than four

years of work experience has increased year on year in every region, during the recent global recession. Since 2008: North America 48% – 63%. Latin America 52% – 70%. Europe 50% – 76%. Asia Pacific 64% – 80%. Middle East and Africa: 49% - 69%. Years of work experience

Source:  QS  TopMBA.com  Applicant  Survey  2010  

Section 2: Employment background of MBA applicants There has been a big drop in MBA applicants with a finance or banking background in 2010. Applicants from the IT sector have also dropped year on year. Ross Geraghty, managing editor of TopMBA.com, says: “The decrease in the proportion of applicants from finance and banking suggests that, as the job market is still so uncertain, people are more risk averse than before. Following two years of heavy lay-offs, those people in secure positions in finance appear to be staying in their roles for the time being rather than looking to leave to go to business school. I predict that MBA applicants from finance will increase rapidly when the upswing becomes established, as they look to use an MBA qualification to make the leap to the next career level within their industry.” Several sectors have revealed significant increase in 2010. The public sector shows an increased share of applicants from 3% to 5%. Media is up from 2% to 5% and other sectors have been broken out for the first time, with healthcare and law both yielding 4% of respondents. Table: Employment by Industry Sector 2008-2010 Industry

2008

2009

2010

Finance

18%

22%

10%

Engineering

8%

8%

9%

Information Technology

15%

10%

9%

Consulting

10%

12%

8%

Public Sector

3%

3%

5%

Media

2%

3%

5%

Industry

6%

3%

5%

-

-

4%

Non-Profit

3%

6%

4%

Telecommunications

4%

2%

4%

Legal

-

-

4%

R&D/Science

-

-

4%

4%

2%

3%

-

-

2%

Pharmaceuticals

3%

2%

2%

Retail

2%

3%

2%

Energy/Environment/Utilities

-

-

2%

Agriculture/Fishing/Forestry

-

-

2%

Logistics/Transportation

-

-

2%

HR/Recruiting/Training

-

-

1%

Real Estate/Property

-

-

1%

Entertainment/Leisure

-

-

1%

Defence/Security/Rescue

-

-

0%

Health/Medical

Consumer Goods Hospitality/Travel/Tourism

Other 22% 24% Source: QS TopMBA.com Applicant Survey 2010

11%

Section 4: Employment background by region The survey shows a significant drop in North Americans from consulting and finance, while current students and those from media, retail and, tellingly, non-profit and public sector have increased. Ross Geraghty says: “People with an NGO or government background are seeing, in the mature American market, how an MBA can benefit them. There are many stories, such as those from MBAs Without Borders, of how MBAs in non-government organizations in developing countries are, for example, using their logistics and operations skills to save their organization money, to use an NGOs finances to good effect on stock exchanges and to create long-term business practises that benefit their colleagues long after the MBA has left.”

Section 5: MBA Survey - Gender trends among MBA applicants Women constitute 48% of the respondent pool, the highest ever figure, continuing a rising trend year on year from 35% in 2006. Though male applicants still outnumber females, this figure is as close to parity as it has ever been.

Ross Geraghty, managing editor of TopMBA.com, says: “If this were replicated in the MBA classroom then we would be approaching something like true gender diversity for the first time; however figures suggest that this is not yet the case. Women here show their interest in the MBA, but they tend to drop out in higher numbers than men during the application process. Only a small handful of schools have achieved an equal mix of men and women in their MBA programs. IE business school in Madrid is one of the few with 50% women after offering a women’s MBA scholarship program for a number of years.” “Education, in many countries, has taken on great significance for women as a way out of traditional gender roles. This is relevant to China for example, although India remains behind in this regard. However, women are supporting their interest with a strong showing in the GMAT. In 2010 the number of women taking the GMAT exceeded 100,000 for the first time.”

Women are slightly more likely than men to consider an MBA program earlier in their careers the figures show, with 69% female to 63% of male respondents to the TopMBA.com Applicant Survey with three years or less work experience. Ross Geraghty, managing editor of TopMBA.com, says: “Ambitious women who want to start a family in the future are conscious of a need to start their careers earlier than their male counterparts and this could explain the relative youth and shorter duration of work experience before attending the QS World MBA Tour.” Table: Gender and course length Length

Female

Male

2010

2009

2010

2009

< 10 months

6.7%

4.3%

5.8%

5.6%

10-18 months

48.0%

40.5%

48.0%

40.7%

19-24 months

40.4%

48.2%

37.7%

50.0%

> 24 months

5.0%

7.0%

8.5%

3.7%

Source: QS TopMBA.com Applicant Survey 2010 Female and male MBA applicants both show a change in preference towards the shorter form of the MBA program in 2010. Ross Geraghty, managing editor of TopMBA.com, says: “Roughly 54% of male and female MBA applicants are considering an MBA program shorter than 18 months, suggesting a preference for the European-style one year MBA model for the first time, over the more American-style two year program. The bigger change is seen among the male respondents, who traditionally favoured slightly longer courses than women. This could have been due to female respondents considering their options for rearing a family at some stage in their careers while men had the relative luxury of taking longer courses. However men now, due to the economic climate, are looking at shorter MBA programs in order to cut down their costs and get back into the workplace faster; a direct result of the tough economic climate in 2010.”

Table: Motivations to take an MBA by Gender Motivation

Female

Male

To improve career prospects

17.6%

18.0%

To learn new skills

17.6%

17.5%

To take up a leadership role

14.5%

14.9%

To build a professional network

14.0%

13.0%

To enable a career change

11.2%

11.7%

To boost salary

8.7%

8.5%

Primarily for education

8.3%

7.4%

To start own business

8.0%

8.8%

Source: QS TopMBA.com Applicant Survey 2010

Section 6: MBA Programs – Preferred study length The QS TopMBA.com Applicant Survey 2010, the largest survey of the mindset and aspirations of MBA applicants ever conducted, shows a major shift in the interests of MBA applicants all around the world. The results provide detailed insight into the status, attitudes, goals and ambitions of MBA applicants worldwide and how they and the employment and education markets for young professionals is changing. The survey, formed from almost 4,000 responses by MBA applicants attending the QS World MBA Tour in Fall 2009 and Spring 2010, suggests that potential students in every region are increasingly favouring shorter 10-18 month programs over the traditional two year program format, which remains the most common MBA format amongst North American schools. Shorter programs are becoming increasingly popular with the 10-18 month MBAs receiving 48% of the response, compared to 40% in 2008. The two year MBA was preferred by only 39% of respondents, compared to 48% in 2008. Ross Geraghty, managing editor of TopMBA.com says: “Results from the 2010 QS TopMBA.com survey show evidence of a big change towards shorter courses. This implies that MBAs want less time out of their careers and a faster route back into market at a time when cost-efficiency is paramount. The recession has undoubtedly had an impact on the way these applicants choose to invest their time and money and a year seems like a more viable investment than two years out of work in this uncertain economic environment.” Table: Preferred Study length 2008-2010 Duration

2008

2009

2010

Less than 10 months

5.9%

6.0%

6.2%

10-18 months

40.2%

44.0%

48.0%

19-24 months

47.8%

43.0%

38.8%

More than 24 months

6.1%

7.0%

7.0%

Source: QS TopMBA.com Applicant Survey 2010 Regional figures show that shorter courses have increased their share of the vote across all five regions. In North America the two year programs still reigns supreme, but North Americans are increasingly considering the one year option. More are looking to Europe for established one year courses, due to a perceived cost effectiveness of the course and the short sharp shock, allowing them to return to the workplace sooner. Ross Geraghty managing editor of TopMBA.com, says: “There is no longer a one way flow of MBA applicants into North America. North American MBA applicants are heading to European business schools in growing numbers, and are beginning to look at Asian schools as well. There are other pull factors too; there is an opportunity for applicants to immerse themselves in a foreign language, classroom diversity is greater in most European schools, vicinity to the burgeoning Asian and possible European markets is a big draw and shorter courses are seen as more cost-effective and with a higher return on investment.”

Table: Preferred Course length by Region

Americans interviewed for TopMBA.com support this: “I wanted to get a more international worldview than the typical US schools could offer,” says Eric King, an American full-time MBA student at ESADE in Barcelona. “Coupled with a strong passion for new experience, [this] is what led me to consider my MBA abroad. I identified schools I felt would provide a similar academic challenge and degree equity as the top US schools.” In Asia Pacific figures from 2008 to 2010 have almost exactly reversed too, with shorter courses taking over from the two-year program as a preferred option, while Europeans remain perennially faithful to the shorter form of the MBA program. An inevitable next step will be a growing number of shorter 18 month and 12 month MBA programs on offer in North America. Already, there are 36 US business schools featured on TopMBA.com, with MBA courses of 18 months or less; almost all of them established in the last five years.

Section 7: MBA Programs - Motivations for taking an MBA An MBA remains a vocational degree for people seeking to better their career outcomes as a result of their qualification, although a quarter of MBA applicants seek an MBA ‘primarily for an education’. In 2010, when given multiple options (see Table 3), ‘improving career prospects’ remains the single most important motivator for taking an MBA, followed closely by ‘learning new skills’, attaining a ‘leadership position’, ‘building a professional network’ and ‘enabling a career change’. For the first time, in 2010, ‘starting own business’ is as important as ‘’boosting salary’. The order of, as well as the percentages themselves found in this table have changed very little year on year. Ross Geraghty, managing editor of TopMBA.com, says: “Over the five-year period inclusive of 2006 to 2010, the TopMBA.com Applicant Survey has seen significant, though not seismic, shifts in the reasons applicants give for taking an MBA. Improving career prospects within an organization or industry is down, while enabling a career change (to another industry) is up. This suggests that MBA applicants are increasingly considering their mobility, which supports anecdotal evidence we receive. Table: MBA Motivations 2006-2010 (multiple choice) Reasons

2006

2010

To improve career prospects

73%

64%

To learn new skills

57%

63%

Leadership position

-

53%

To build a professional network

42%

49%

To enable a career change

37%

42%

To boost salary

29%

31%

To start own business

24%

31%

Primarily for education

26%

28%

Source: QS TopMBA.com Applicant Survey 2010 “Also significant is that entrepreneurship is on the increase, from 24% to 31% of respondents; not an uncommon phenomenon in times of recession, when talented business leaders consider starting their own businesses as viable options,” says Geraghty. However, when asked to make just one choice, the position changes (see table 4). Inevitably, boosting salary is the number one reason for doing an MBA, followed closely by ‘starting own business’ and attaining a ‘leadership position’ both of which were selected by roughly onesixth of all respondents. ‘Enabling a career change’ is the primary motivator for only 8% of respondents and ‘primarily for an education’ was selected by less than 2% of respondents.

Table: Primary motivations for taking an MBA (2010 only)

Reasons

2010

To boost salary

26.1%

To start own business

16.7%

Leadership position

16.5%

To improve career prospects

12.6%

To learn new skills

10.8%

To enable a career change

8.1%

To build a professional network

7.3%

Primarily for education

1.8%

Source: QS TopMBA.com Applicant Survey 2010

Section 8: MBA Programs – Preferred MBA study mode Full time MBA courses remain by far the most popular study mode within our sample. 84% of applicants, when given only one option, opt for a full time MBA program, with 10% selecting a part time MBA. However, distance/online MBA programs are increasing in popularity when applicants have a choice. “Full-time MBA programs are still the most desirable option but not the only choice. I conducted a straw poll in June 2010 on my blog, mbascene.wordpress.com, giving a multiple choice to this question. We found that 34% of MBA applicants would consider an MBA program that was not full time,” says Geraghty. Table: Preferred Study Mode 2008-2010 Study Plans

2008

2009

2010

Full Time

82.0%

82.2%

83.2%

Part Time

9.2%

9.5%

10.5%

Executive Education

4.4%

3.7%

1.5%

Distance Learning

2.4%

2.6%

2.7%

Online Learning

2.0%

2.0%

2.1%

Source: QS TopMBA.com Applicant Survey 2010

Section 9: MBA study plans – Preferred destinations Top 10 Study Destinations 2008-2010 The United States has always been the world’s leading MBA study destination, but the 2010 TopMBA.com Applicant Survey shows this lead has narrowed dramatically in recent years, with the UK, Canada and several Western European countries closing the gap. The percentage of MBA applicants expressing an interest in studying in the US has dropped from 80% in 2008 to just over 60% in 2010, only marginally ahead of the UK, at 57% up from 55% two years ago. The top ten MBA study destinations are: USA, UK, Canada, Germany, France, Spain, Australia, Switzerland, Netherlands and Italy. Ross Geraghty, managing editor of TopMBA.com, says: “Why is the US less popular as an MBA study destination than ever before? Difficulty in accessing visas, uncertainty about being able to stay in the country after graduating from an MBA program, concern about the shortterm health of the US economy, some political and cultural concerns, particularly among Muslim applicants and an increasing trend towards returning home after an MBA combine with the global preference for shorter courses. “Canada has done a good job of positioning itself as a viable alternative to the US. The UK is a major financial centre with many well regarded one year MBA courses, while the powerhouses of Europe, with their shorter courses, greater diversity, language opportunities and vicinity to more developing markets, are improving their share of the response.” Table: Top 10 destinations 2008-2010 Top 10 Destination

2008

2009

2010

United States United Kingdom Canada

81.2% 55.0% 31.6%

70.7% 53.2% 24.7%

60.4% 56.8% 25.4%

Germany France Spain

12.1% 23.7% 17.6%

12.0% 22.4% 19.5%

22.6% 22.0% 20.9%

Australia Switzerland

21.3% 12.9%

23.7% 12.2%

20.3% 17.6%

Netherlands Italy

9.0% 9.8%

10.3% 11.0%

17.6% 15.6%

MBA Applicants Considering Study in their Home Country This table shows applicants who would consider studying in their own country, when given a multiple choice. Countries with strong domestic MBA programs typically attract the highest percentage of stay-at-home applicants, with the USA, South Africa, the UK, Canada and France leading the table. South Africa breaks into the top five of this table, compared to the table of preferred worldwide study destinations. By contrast, Columbia, Bulgaria, Ukraine, China, Brazil and Thailand are among the ten nations which attract the fewest domestic applicants (as few as 1% of MBA applicants in Columbia and Bulgaria wish to study domestically).

Table: MBA Applicants Considering Study in their Home Country Country

%

Country

%

USA

79%

Israel

14%

South Africa

75%

Singapore

14%

UK

68%

Kazakhstan

14%

Canada

67%

Peru

13%

France

57%

Mexico

10%

Australia

50%

Russia

10%

Hungary

50%

Indonesia

8%

Germany

42%

Kenya

8%

Poland

41%

Thailand

7%

Italy

41%

Brazil

6%

Greece

23%

El Salvador

6%

Argentina

21%

China

5%

Jordan

21%

Pakistan

3%

India

21%

Philippines

3%

Japan

20%

Dominican Rep.

2%

Turkey

19%

Ukraine

1%

Romania

19%

Bulgaria

1%

Egypt

17%

Colombia

1%

Preferred Study Destinations by Region This table shows that there are clear differences between the preferred study destinations of MBA applicants across the regions. The USA is still the most popular MBA study destination with domestic, Latin American, Asian and Middle Eastern MBA applicants. The UK is a more popular study destination for most Europeans. As many as 39% of North Americans would consider studying for an MBA in the UK, while only 22% would consider studying in Canada. The UK, Spain and France seem the most preferred European study destination for North Americans. Prospective MBA applicants from all regions tend to opt for studying in the USA or the UK, with one or two additional differences depending on where the candidate is from. For example, those from Latin American also opt for Spain, while Asian applicants prefer Germany, Canada and Australia. Western European MBA applicants choose France, Spain and Italy (in addition to the perennial favourites of the USA and UK), while their counterparts in Africa and the Middle East prefer Germany, Canada and Australia. With Eastern Europeans, the UK looks favourite with nearly 70% of applicants considering it a place to study, compared to 50% looking at the USA and 30% looking at Netherlands, France and Germany.

Table: Preferred Study Destinations by Region Destination Overall Top 10

Nationality of respondent Eastern Western Europe Europe 49.4% 58.7% 68.6% 69.2%

US & Canada 75.7% 39.0%

Latin America 63.0% 46.8%

Canada Germany France

22.1% 5.1% 14.0%

28.8% 16.9% 20.8%

18.8% 28.4% 28.4%

Spain Australia

14.7% 4.4%

47.3% 20.1%

Switzerland Netherlands

6.6% 5.9%

Italy

1.5%

United States United Kingdom

Asia Pacific 62.6% 55.0%

Africa/ Middle East 60.4% 58.8%

9.1% 16.8% 30.8%

25.0% 25.2% 20.7%

36.1% 22.3% 19.2%

22.7% 13.5%

23.1% 14.7%

11.7% 23.7%

17.9% 26.0%

13.3% 14.3%

19.6% 29.6%

14.7% 11.2%

19.5% 15.9%

19.0% 16.9%

17.1%

21.4%

18.9%

12.5%

18.1%

Source: QS TopMBA.com Applicant Survey 2010 Ross Geraghty, managing editor of TopMBA.com says: “For Europeans, ever-improving access between the nations in terms of transport and trade, as well as the Bologna Accord in education, have made staying within Europe a more viable option than before. Combined with the UK’s strength in traditional MBA industries such as finance and consulting, nonAnglophones also see a chance to improve their business and colloquial English. In addition the UK has, in contrast to the US, made it known that the country welcomes MBA talent from outside the EU. People from within the EU also have no visa restrictions in working there and, despite the capricious sterling, London stands astride the financial economies of the continent.” Geraghty adds, “What is surprising about these MBA study destination preferences is the disparity between MBA applicants in different regions. The US is no longer dominant and more and more European countries are at the top of people’s lists. Germany has risen to prominence in recent years. In ten years’ time I would expect to see some Asian countries featured in this list of ten most popular study destinations.”

Section 10: Reasons for top choice of study destination International recognition of qualifications remains the single most important reason for applicants’ choices in terms of country of study. Significantly, availability of scholarship and financial aid has increased in importance. Ross Geraghty, managing editor of TopMBA.com, says: “The increase in need for financial aid and scholarships is partly as a result of more difficult access to credit, as well as the increasing rarity of companies financially supporting their staff to do MBA programs.”

Section 11: Criteria for selecting school of choice MBA applicants around the world will select a business school if they are offered a scholarship (first), followed by reputation of the school (second), career placement record (third), strength of faculty (fourth) and return on investment (fifth). Recent school ranking is only the tenth most important selection criteria, continuing a year-on-year slide in significance (it was the second most important criteria in 1995 when QS first conducted this research). However in each region, there are big differences in what makes an MBA applicant choose a business school. North Americans are selecting business schools based on reputation (first), career placement record (second), return on investment (third)and student/alumni profile (fourth), with MBA rankings (fifth) – the only region in which rankings feature in the top five factors. Intriguingly, th quality of academic staff is far less important to North Americans (11 ) than to any of the world’s other regions (fourth overall). Scholarships and financial aid are a primary factor in school selection for MBA applicants in Asia, Africa, Eastern Europe and Latin America. North Americans seemingly feel better able to get through business school in a system where loans for education have become the norm. Ross Geraghty, managing editor of TopMBA.com says, “Before the credit crunch, MBA loans were available to MBA applicants of almost any nationality, with many business schools providing guaranteed loan schemes to students. Many of these ‘loan guarantee’ schemes have been cut, requiring applicants to look elsewhere and to really focus on searching for scholarships.” Among the many interesting regional variations a school’s accreditation status is less significant to Europeans (tenth) than to the rest of the world (seventh). For Latin Americans, school specializations (fourth) are far more important than the overall (nonth). School rankings continue to slide away in importance to tenth this year from nonth in 2009. Table: Criteria for Selecting School of Choice

Region Scholarships / financial aid School reputation Career placement record Quality of academic staff Return on investment Affordability Accreditation status Teaching style School specializations Recent school ranking Profile of students/ alumni Attended/respected by peers Employer's recommendation Course length Convenience of location

Overall

US & Canada

Latin America

Europe

Asia Pacific

ME & Africa

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

8 1 2 11 3 12 6 10 9 5 4 6 14 12 15

1 2 8 6 3 10 5 7 4 9 11 14 13 15 12

1 2 3 4 5 7 10 8 9 6 11 12 14 13 15

1 3 2 6 5 4 7 8 9 11 9 13 12 14 14

1 3 6 2 9 5 7 4 8 10 11 12 13 15 14

Source: QS TopMBA.com Applicant Survey 2010

Section 12: MBA Programs – Preferred sources of information TopMBA.com is one of the world’s leading websites for information serving MBA applicants. For the last five years, among our sample of MBA applicants from around the world, TopMAB.com and Business Week have vied for top place in this league table of most visited web sites. In 2010, TopMBA.com has edged ahead of BusinessWeek.com, which is followed by GMAT, FT.com, and Economist.com. Table: Publications and rankings Publications/Rankings

2010

TopMBA.com and Scorecard

35.60%

Business Week

25.00%

GMAT

22.20%

FT.com

19.90%

Economist.com

18.70%

Timesonline.com

10.00%

Studylink.com

9.80%

WSJ.com

5.90%

Source: QS TopMBA.com Applicant Survey 2010

 

Search engines and social networks are utilised by MBA applicants around the world and perhaps it is not great surprise that Google is by far the most utilised among our sample. Perhaps more interesting is the fact that 13% of respondents do not use Google. Facebook has grown in popularity dramatically in recent years and this is reflected in the survey as it takes second place jumping ahead of Yahoo. LinkedIn takes fourth place, followed by MSN in fifth place.

Table: Search Engines & Professional and Social Networks Professional & Social Networks Google Facebook Yahoo

2008 76.4% 10.2% 22.8%

2009 71.9% 16.2% 21.5%

2010 86.9% 25.9% 22.6%

LinkedIn MSN

7.8%

5.7%

13.9% 6.9%

Chasedream Myspace AMEInfo.com

3.7% 1.9% -

3.7% 2.0% -

3.5% 2.5% 0.6%

-

-

0.5%

Bebo

Source: QS TopMBA.com Applicant Survey 2010

  Education fairs In terms of education fairs, it is not surprising that QS World MBA Tour takes top spot, given our survey being conducted from World MBA Tour attendees. What is interesting is that 18% of respondents attended the QS World Executive MBA Tour. Only 7.8% attended our sister fair, the QS World Grad School Tour and only 5% of respondents took part in online MBA fairs.

QS Quacquarelli Symonds Ltd QS is the world’s leading information network for top careers and education. QS links high achievers from the graduate, MBA and executive communities around the world with leading business schools, postgraduate departments at universities and with employers, through websites, events, e-guides and technical solutions. QS organizes the largest business education event in the world, the QS World MBA Tour and an extensive product range including print and online publications and software solutions. It produces the annual TopMBA.com Applicant and Recruiter Research and several annual reports including the Global 200 Top Business Schools: The Employers’ Choice and the annual World University Rankings research. Website: www.topmba.com Blog: mbascene.wordpress.com All information © QS Quacquarelli Symonds 2010