Tag Archives: GMAC
September 23, 2015
The Graduate Management Admission Council (GMAC) has released the findings of its 2015 Application Trends Survey, which show the majority of full-time MBA programs — in both two-year and one-year formats — report increases in …
The Graduate Management Admission Council (GMAC) has released the findings of its 2015 Application Trends Survey, which show the majority of full-time MBA programs — in both two-year and one-year formats — report increases in application volume compared with last year and 10 years ago.
Among full-time two-year MBA programs, 57% report increased application volume this year. For full-time one-year programs, 2015 marks a notable improvement: 51% of programs report application volume increases, compared with just 37% that reported growth last year.
Both program formats are performing better compared with 10 years ago — 60% of full-time two-year and 53% of full-time one-year MBA programs indicate they received more applications this year than in 2005.
“This is positive news and reflects a strong full-time MBA market,” says Bob Alig, GMAC’s executive vice president for school products.
“The full-time MBA continues to be a sought after credential because graduates consistently see a high return on their investment — not only in terms of earnings, but also in job satisfaction and personal fulfillment.”
The findings from GMAC’s 16th annual Application Trends Survey show a positive turnaround in the domestic market for U.S.-based, full-time two-year MBA programs, as a majority (59%) report year-on-year domestic application growth — a level not attained since 2009. Domestic candidates still account for less than half of the applicant pool for these U.S. MBA programs — 45% in 2015.
This year’s report also reveals that the representation of women in program applicant pools has increased 3 to 8 percentage points over the last five years for all program types analyzed in the report, with the lone exception of Master of Accounting, which continues to maintain its majority level of female representation (57%).
More than half of the following program formats report growing application volume for women in 2015: full-time two-year MBA (51% of programs), full-time one-year MBA (50%), executive MBA (50%), online MBA (55%), Master in Management (55%), Master of Finance (56%), and Master of Marketing and Communications (60%).
“GMAC is pleased to see that business schools’ efforts to increase the number of applications from women seem to be succeeding,” says Alig. The report shows that targeted outreach for women candidates is conducted by 67% of full-time two-year MBA programs, 41% of part-time MBA programs, and 51% of executive MBA programs.
Data for the 2015 Application Trends Survey were collected from a total of 641 graduate business programs located at 306 universities worldwide.
To download the full survey report, please visit www.gmac.com/applicationtrends.
February 19, 2015
Business school alumni earn increased compensation, exercise enhanced purchasing power, consistently climb to the executive ranks, and give overall high marks to the value of their education in driving their professional success, according to new …
Business school alumni earn increased compensation, exercise enhanced purchasing power, consistently climb to the executive ranks, and give overall high marks to the value of their education in driving their professional success, according to new research findings from more than 12,000 graduate business school alumni surveyed by the Graduate Management Admission Council (GMAC).
The results of the 2015 Alumni Perspectives Survey Report offer a global snapshot of employment and career progression for graduate business school alumni representing the classes of 1959 through 2014. Graduates also gave positive reviews to their business school’s alumni association, with a majority saying their engagement with these associations has contributed to their success.
Conducted in October and November of 2014, the survey represents alumni from more than 230 graduate business programs at 71 universities in 16 locations across the globe. It is the latest in GMAC’s survey report series to provide data showing that an MBA or other graduate management degree, such as a Master in Management, Accounting or Finance, is a strong educational investment available to students in today’s highly competitive career marketplace.
In fact, in the survey, 95 percent of alumni rated their graduate management education as a good to outstanding value, and 93 percent would recommend their graduate business program to others.
Additional key findings include:
Ninety percent of alumni credit graduate management education with increasing their earning power.
In both developed and developing economies, graduate management alumni exercise enhanced purchasing power. For the first time, GMAC offers a comparison of earnings for graduate management alumni relative to others. A global analysis of alumni salaries by work location in relation to GDP and purchasing-power-parity per capita (GDP PPP) uncovers that business school alumni have purchasing power 1.6 to 6.8 times that of the average resident of the country where they work.
Business school alumni career trajectories show consistency in reaching higher levels of their organizations regardless of graduation year.The majority of alumni held mid-level positions one year after earning their degree.
Five years after graduation, the majority of business school alumni are in senior-level positions or higher, and at 10 years, one in four alumni are in executive-level positions and 5 percent are in the “c-suite” (e.g., CEO, CFO, COO). Graduates who have made it to the c-suite are most likely of all alumni to say they use the knowledge, skills and abilities learned in graduate business school on the job.
B-school alumni rise fast in the workplace and have high levels of job satisfaction.
The majority of graduate business school alumni, working across all occupational levels from entry-level positions to c-suite, credit their graduate management education for preparing them for leadership positions, as well as for accelerating the pace of their career advancement. In addition, they report high levels of job satisfaction.
Four in five alumni, or 84 percent, say their graduate management education offered opportunities for quicker career advancement.
For the first-time, this report measured entrepreneurial behavior in the workplace — defined through the traits of innovativeness, proactiveness and social risk taking — factors associated with alumni career success. Analysis shows c-suite and self-employed alumni describe themselves with these attributes to a greater extent than alumni at all other job levels.
Fifty-nine percent of alumni belong to their business school’s alumni association and tend to rate their level of career success higher than those who are not members.
The additional services alumni seek from their alma mater include courses and seminars, access to career services and more networking events.
“Graduate management degree-holders consistently tell GMAC their education is a solid investment and a spur to personal, professional and financial achievement, even in up-and-down economies,” says Sangeet Chowfla, president and CEO of GMAC. “A graduate management education isn’t just a degree, it’s a career catalyst.”
January 8, 2015
What turned out to be a strong job market for business school and management degree graduates in 2014 should continue into 2015, according to the Graduate Management Admission Council‘s (GMAC) Year-End Poll of Employers, released …
What turned out to be a strong job market for business school and management degree graduates in 2014 should continue into 2015, according to the Graduate Management Admission Council‘s (GMAC) Year-End Poll of Employers, released Wednesday.
This year’s hiring outlook holds steady for 2015 graduates as nine out of ten employers planning to hire business school graduates expect to maintain or increase the number of job openings for these hires compared with 2014.
“The solid job prospects for b-school talent seen over the past several years and again reflected in this poll, give prospective students good reason to consider pursuing these degrees as part of a strategy to drive their career goals,” says Rebecca Estrada Worthington, GMAC’s Survey Research Manager.
The poll of 169 employers in 33 countries, conducted in late 2014, serves as an early view into the 2015 job market for MBA, master of management, accounting, finance, and other specialized business master degree-holders.
The greatest hiring demand for b-school talent remains recent MBA graduates, while the largest increase in hiring demand is projected to be for Master in Management talent, as reflected in the eleven percentage point increase in firms who hired this category of graduates in 2014.
“Our data show that even in the depths of the recession, business and management degrees can provide a measure of job protection and opportunity. Today, in a recovering global economy, management degrees can be a powerful driver of confidence and provide fuel for an individual’s career growth,” Estrada Worthington says.
The annual Year-End Poll of Employers provides an early look at hiring plans. For a copy of the poll report, go to gmac.com/employerpoll.
November 14, 2014
Segregation in education sounds like a relic of the distant past, but according to a recent story in the Wall Street Journal, Asian and Indian applicants to U.S. MBA programs trounce American applicants so badly …
Segregation in education sounds like a relic of the distant past, but according to a recent story in the Wall Street Journal, Asian and Indian applicants to U.S. MBA programs trounce American applicants so badly on the quantitative portion of the GMAT that business schools will now sort candidates based on the country and region of the world they hail from.
Over the last ten years, the score gap between Asia-Pacific and U.S. applicants in the math portion has only widened, with the former group scoring an average of 45—seven points above the worldwide average of 38, and 12 points higher than the American applicant’s average of 33.
The disparity in scores is likely rooted in the problems with math instruction in this country, but the situation isn’t helped by the vast difference in test preparation. According to GMAC, students in Asia spend an average of 151 hours in test prep, while U.S. students average just 64 hours.
Sangeet Chowfla, GMAC’s chief executive officer, told the WSJ schools have complained that the test’s global rankings were becoming more difficult to interpret, and asked for new ways to assess both U.S. and foreign test-takers separately. In response, GMAC has introduced a tool that allows schools to apply filters to benchmark scores by country of citizenship, gender, and college GPA.
Sara Neher, assistant dean of MBA admissions at the University of Virginia’s Darden School of Business, was among those who reached out to GMAC for help. “I need to be able to show my scholarship committee, which includes faculty, that this person is in the top 5% of test takers in his region,” even though that individual might not rank highly against test takers world-wide, she told the WSJ.
It sounds like in the future, business schools will increasingly need to deny seats to the top scorers if they want to stay true to their mission of creating a dynamic learning environment through a cohort with diverse backgrounds and perspectives.
September 2, 2014
At the Association of MBAs (AMBA) annual Employers Forum in August, two topics dominated the event: the need for MBAs with well-developed ‘soft’ skills, and the increased demand for graduate hires with specialist MBAs. The …
At the Association of MBAs (AMBA) annual Employers Forum in August, two topics dominated the event: the need for MBAs with well-developed ‘soft’ skills, and the increased demand for graduate hires with specialist MBAs.
The forum attracted 24 leading multi-nationals, including KPMG, Goldman Sachs, Bloomberg and BP, as well as recruitment and career managers from 22 AMBA-accredited business schools.
Due to a changing landscape for employers, graduates and business schools, employers do not necessarily want their staff to possess a financial services MBA, but now seek graduate hires with sector-specific specialist MBAs in a variety of fields.
This trend is reinforced by data from the Graduate Management Admission Council, which indicates roughly 64% of business school deans expect MBA programs to increasingly specialize.
As the 2014 GMAC Employer Survey also demonstrates, the days when the ‘hard’ skills of analytical and strategic thinking dominated are over, and it’s oral and written communication, presentation, adaptability and the ability to negotiate that companies are asking the schools to teach their students. Accenture, for example, introduced a ‘soft’ skills measurement technique which combines “defined critical characteristics for success, which are assessed by behavioral questions.”
The event included a discussion of the future of management education, which will likely move toward a blended model of MBAs, and how experiential learning will replace classroom-based learning, and that both of these shifts can be of benefit to employers.
However at this time, recruiters still do not consider job seekers from online business programs to be of the same caliber as those that have graduated from a face-to-face MBA program.
London’s Imperial Business School hosted the event, and its dean, Professor G. Anandalingham, brought home the point that an MBA is “the premium, flagship program – hence schools should partner with corporates to produce the kind of graduate they are looking for.”
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July 14, 2014
The Graduate Management Admission Council, in partnership with Wiley, is making studying for the GMAT exam easier and more convenient. The best-selling Official Guide for GMAT Review series is adding online content, videos and a …
The Graduate Management Admission Council, in partnership with Wiley, is making studying for the GMAT exam easier and more convenient. The best-selling Official Guide for GMAT Review series is adding online content, videos and a study tool, allowing b-school applicants to access hundreds of real, retired GMAT questions both in book form and online to customize their own question sets.
“The Official Guide for GMAT Review has been a consistently popular trade publication since the first edition was published in 1978,”says Ashok Sarathy, GMAC vice president, product management. “Now, we are making studying for the GMAT exam easier and more flexible, as people can both annotate the book and customize question sets with the new, online component.”
Joan O’Neil, VP and managing director at Wiley, calls the partnership with GMAC ideal, adding “We are excited to see how the new online aspects and tools evolve so we can continue to bring the best content and value to our customers.”
The 2015 series will contain the same content as the Official Guide for GMAT Review, 13th Edition, and the Official Guide for Quantitative Review, Second Edition, and the Official Guide for Verbal Review, Second Edition, along with access to exclusive online content including videos and a study tool that allows users to customize practice sets by question format and difficulty level.
“We see our role as giving candidates the best opportunity to perform to the best of their ability on the GMAT exam. Publishing the Official Guide is part of that mission as the series offers more retired practice questions than any other product on the market. The online enhancements made to the 2015 edition are the first of many improvements, and we plan to update the Guides on an annual basis,” Sarathy says.
The 2015 series is available at bookstores worldwide and at the mba.com/store.