We recently participated in a truly outstanding webinar produced by Poets&Quants, the world’s most respected source of insight and information on MBA education. P&Q has observed and analyzed timely topics and trends that impact current candidates and therefore merit additional reflection and comment by The MBA Exchange:
1. Many US-based, full-time MBA programs face declining application volume.
About 70% of US schools are experiencing a decline in MBA applicants, especially from non-US residents. While some of this downturn can be blamed on the challenges of getting a visa or concerns about the political climate, many potential applicants are simply “waiting it out” until the economy cools off. While hiring is high and compensation is rising, it can be tough to justify leaving a good job and incurring the expense of attending business school. However, The MBA Exchange feels this is an ideal time for serious applicants to pursue admission. When adcoms are hungry for more qualified applicants, the chances for acceptance – and the availability of merit-based financial aid – increase. To help you determine where your candidacy will be most competitive, we invite you to request a free, expert evaluation.
2. Value proposition at top-tier US business schools is strong and getting stronger.
There are many observers who proclaim that earning a traditional MBA degree is no longer worth the cost of tuition and foregone income. However, the facts confirm the ROI remains compelling at top-tier schools. Official employment reports indicate current MBA graduates continue to be in high demand, with particular growth in the tech sector. We believe that serious applicants should include on their target list the most selective schools for which they qualify in order to maximize the return on their time, effort and dollars. Short listing of the best programs is a critical component of any admissions campaign and thus, is a featured element of our Comprehensive Consultation.
3. Specialized master’s degrees represent a viable choice for candidates with focused interests.
For individuals intending to pursue rigorous fields such as Finance, Accounting, Data Analytics, etc., pursuing a specialized degree is an increasingly popular path. In previous years, such candidates would have earned MBA degrees without hesitation. However, more universities worldwide are launching and growing their specialized degree programs and enrollment is soaring. If you’re someone planning a career in an arena that aligns with one or more specialized master’s degrees, and if you have questions about how to earn admission to such programs, we invite you to contact our resident expert Judith Stockmon via Poets&Quants and to request a free evaluation of your candidacy.
4. Canadian business schools are a viable alternative to US schools for non-US MBA applicants.
For a variety of reasons – lower cost, higher acceptance rates, more liberal visa policies, proximity to the US, etc. – Canada is attracting the attention of more non-US applicants these days. FT.com currently ranks three Canadian programs among the world’s top 100 business schools. If earning an MBA from schools such as McGill and the University of Toronto is appealing, The MBA Exchange could be an ideal resource for your campaign. With experienced admissions consultants on our team who attended or worked in admissions at these Canadian schools, we’d love to help you succeed.
5. Executive MBA programs are gaining appeal among working professionals who face constraints.
For many early- and mid-career individuals, the reality of enrolling in a traditional, two-year MBA education is simply out of the question. They lack the mobility, time and/or financial resources to enroll in a full-time MBA program. Fortunately, there are many fully accredited, well-respected business schools (e.g., Wharton, Booth, MIT Sloan, Columbia) that offer the alternative of an Executive MBA. Classes typically meet on alternating weekends. Most professors are the same educators who teach full-time students. And the cohort of Executive MBA students fosters alliances and friendships that can last a lifetime. So, if this practical approach to MBA education resonates with you, the next step should be to get a free assessment of your EMBA candidacy so you can learn if you’re competitive for admission.
6. Methodology for published rankings is flawed, yet they remain a major factor among applicants.
Even the leading sources of rankings – US News and FT.com – fail to consider important metrics when deciding which schools merit a higher or lower position vs. their peers. So, for individuals who find it impossible to disregard rankings, the most reliable tool is the annual composite listing prepared by Poets&Quants (2019 version scheduled for publication in early December). By considering each of the major ranking sources, P&Q’s approach minimizes the inaccuracies, exclusions and subjectivity found in various individual listings. And remember, rankings are not the only or best reason for choosing or excluding a particular school.
Kudos and thanks to Poets&Quants for their continuing thought leadership in the world of MBA education.