The survey reveals that a growing number of candidates have reservations about studying in the US and UK. The percentage of non-US citizens who say they are now less likely to study in the US has grown to 43% in April 2017 from 35% in November 2016. Similarly, a country-level analysis cited by the Times of India has revealed that Indian candidates are negatively influenced by the Brexit vote, with 58% reporting that it has made them less likely to study in the UK.
Countries such as Canada, Australia, Germany, and New Zealand seem to be gaining from the waning sentiment towards the top two education destinations due to the closed climate.
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The mba.com Prospective Students Survey Report 2017 is based on collected data from more than 11,000 prospective business school students who registered on mba.com from February to December 2016. The findings explore the career goals, preferred program types, and intended study destinations of individuals interested in pursuing graduate management education.
According to the poll, most study abroad to receive a higher quality education (63% of the respondents), to increase their chances of securing international employment (58%), and to expand their international connections (51%). The survey says that:
Since November 2016, a growing share of international candidates say they are now less likely to pursue a graduate business degree in the US due to the presidential election results.
A third (34%) of the candidates who prefer to study outside their country of citizenship intend to seek employment in the country where they prefer to attend school. Moreover, fresh research also shows that three out of four B-school aspirants are holding a prior Master's degree.
The survey reveals that MBA remains the final sign-off or the predominant programme considered by candidates with both prior business Master's degrees (61%) and non-business Master's degrees (86%). Sangeet Chowla, president and CEO of GMAC, says:
These findings demonstrate that a business master's degree is not necessarily the end of graduates' business education. For many, their business Master's degree is a stepping stone to continued professional development that may include an MBA down the road, in either a full-time or part-time format.
Rising costs of an MBA degree also play on candidates' mind. Approximately half of the surveyed candidates indicated that not having enough money available to pay for their education (52%) and potentially having to take on large debts (47%) may prevent them from pursuing a graduate business degree.
The two most important financial aspects that candidates evaluate when deciding where to apply are total tuition costs and scholarship availability. Compared with 2009, candidates, on average, expect to cover a greater share of the cost of their education with grants, fellowships, and scholarships and a smaller share with parental support, loans, and employer assistance, the survey says.
Source: The Times of India