The QS TopMBA.com Applicant Survey 2011 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.
Read the QS TopMBA.com Applicant Survey 2011 >
Key findings in 2011
MBA demographics
- Compared to 2009, there is little change in the mean age of MBA applicants. Applicants from Asia-Pacific remain the youngest at 26.5. Applicants from Western Europe and Africa and the Middle East remain the oldest with mean ages of over 28 years.
- There is an increase of interest in MBA study from respondents with less than four years and those with more than ten years worth or work experience; and a drop in interest amongst those with four to ten years work experience.
- The industry backgrounds of MBA applicants are changing. Between 2009 and 2011 there is a big drop in MBA applicants with finance and banking backgrounds, and there is a year-on-year drop in respondents from the IT sector. By contrast, there is a big increase in applicants from the retail and telecommunications sectors.
MBA study plans
- Full-time MBA programs are still the preferred choice of study, however parttime, online, executive and distancelearning MBAs are gaining popularity.
- The shorter 12- to 18-month MBA format is now more popular in all regions of the world except for in Asia-Pacific and North America. Amongst Latin American candidates, there is a marked shift in favor of shorter MBA programs.
- In North America, the shorter 10- to 18-month format is also gaining popularity, as are the part-time, executive and distancelearning MBA options. Only in Asia-Pacific is the popularity of the longer 24-month MBA format unchanged.
- The motivations for taking an MBA are still dominated by the desire for career progression and to learn new skills. This is followed by attaining a leadership position, seeking a career change and building a professional network. About one-in-three MBA candidates are considering starting their own business.
MBA study plan preferences
- The US and UK remain the most popular MBA study destinations. However, both markets have seen slight declines in popularity, as have other English-speaking destinations such as Canada and Australia.
- The study destinations that show increases in popularity compared to 2009 are: France (up to third) and Spain (up to fourth). Germany, Switzerland and Singapore also showed small increases in popularity.
- "International recognition of qualifications" remains the most important factor influencing a candidate's choice over which country to study in. However, we see big increase in factors such as "would like to work there afterward" and "it's near the country I currently work in."
- The MBA specializations that are gaining popularity include strategy and general management, each appealing to over 50% of respondents. By contrast, finance as a specialization is declining in popularity, falling to only 38%.
The reasons for selecting a business school vary by region:
- A school's reputation is extremely important to all respondents but most important to those based in North America. In all areas outside of North America, availability of scholarships is a significant factor.
- Return on investment, quality of research and career placement record makes up the remaining top five global selection criteria.
- Recent school rankings prove to be less important each year, dropping to tenth place overall.
MBA finance options
- Scholarships are relevant to over 50% of MBA applicants. However, 70% stated they would take an MBA without a scholarship.
- Company sponsorship is expected to play a far more important role in financing MBAs in 2011 than in 2009. By contrast, loans are playing a much lesser role in MBA financing in 2011 than in 2009.
MBA salary and career objectives
- MBA qualification is used by many people to bring about a career change, with consulting being by far the most popular career that respondents are striving for. Only 10% of respondents are in consulting before their MBA but 47% wish to work in consulting after their MBA.
- Applicants with a finance background represent only 14% of the respondent pool. However, it is the industry targeted by 37% of respondents.
- Technology represents 5% of the respondent pool, but is the industry that 25% of respondents are aiming for.
- There is a desire to move away from retail. Only 7% of respondents from the retail sector wish to remain in that industry after their MBA.
- Respondents this year are less inclined to work long hours than those in 2009, during the height of the recession. Only 1.4% of respondents say they are prepared to work over 70-hour weeks. By contrast, 10.8% seek to work less than 40 hours per week compared to just 5.5% in 2009.
- German MBA candidates have the highest target post-MBA salary of US$145,000pa followed by the UK at US$124,000, France at US$120,000 and US at US$118,000. In each of these markets, the target salaries represent more than double the pre-MBA salaries being earned by these candidates.
- The BRIC economies of Brazil, Russia, India and China are demonstrating much greater confidence in the benefit of an MBA. Candidates in Brazil expect their post-MBA salary to increase by 139% to US$106,000. Russians an increase of 166% to US$97,000, the Chinese an increase of $179% to US$100,000, and Indians an increase of 245% to US$83,000.
- Over a ten-year period, MBAs remain highly ambitious with 29% seeking to run their own business and 31% seeking to become CEO/director of a large company.
MBA information sources
- The QS World MBA Tour remains the number one source for face-to-face contact between MBA candidates and business schools.
- Online data sources for news and MBA information see Google in the top spot, followed by TopMBA.com, GMAC (MBA.com), Businessweek.com and FT.com.
MBA gender trends
- Male and female MBA applicants have very different salary expectations. Although men have pre-MBA salaries (US$36,000) only slightly above women (US$33,000), men expect an average post-MBA salary of US$102,000 (a 182% increase) compared to women who expect US$79,000 (a 135% uplift).
- Although consulting and banking are the top choices for both genders, men target technology, engineering, energy and manufacturing, whilst women target consumer goods, media/advertising, public sector, technology and education.
- The reasons why men take an MBA are more focused on increasing salary and starting their own business than their female counterparts.
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