Share this article on...
Contact Us
- Report errors or inaccuracies topmba@qsnetwork.com
- Contribute articles contribute@qsnetwork.com
- Advertise advertise@qsnetwork.com
Regional Focus - Asia
Despite the 2002 downturn in MBA salaries, recent years have seen a significant upswing in the number of business schools offering places, in worldwide MBA salaries and in job availability for MBA graduates.
With its booming population and economies, the Asian market is rapidly meeting its destiny as the most important in the world. China and India dominate those proceedings, but alongside famous examples like Hong Kong, Singapore and Japan, other nations such as Malaysia and South Korea are creating a need for international quality MBAs of their own.
Developed and modern, Asian business schools are beginning to provide for local students as well as offering a rigorous, accredited and competitive business education for overseas MBAs. The presence of INSEAD in Singapore has stimulated a trend of foreign schools opening campuses in Asia. The UK’s University of Nottingham and Monash University from Australia now have campuses in Malaysia that offer exactly the same accredited courses but at a fraction of the cost (sometimes 30 per cent of the fees in the home countries).
Hult International Business School has opened up a campus in Dubai and another is scheduled for Shanghai for this year. In addition the 2007 QS TopMBA Global Recruiters’ Top 100 Business Schools Report included 23 Asian business schools, up from 10 in 2006. This alone shows that Asian schools are being taken more and more seriously as corporates look towards the region for local MBA talent.
Asia’s relative cost-effectiveness is a key benefit for international students interested in improving their marketability with a rounded approach to international business. The opportunity to steep themselves in a culture very different to their own, in many cases, to learn another business mindset and to pick up some fluency in an Asian language is also extremely beneficial. As leading recruiters such as Sej Butler, Recruitment Director of IBM in Europe, say, “a second language is not essential but is very beneficial. We are looking for people not only with good qualifications but also a well-rounded approach to business.” Where better to pick up such knowledge than in the world’s most rapidly changing region?
Biren Patel, Director of the QS World MBA Tour in India, says, “With the expansion of the middle classes in India and China, as well as other countries in the region, the need for educated business leaders has never been greater. The Asian economies growing at double (or more) the rate of the western economies in the past decade or so has resulted in a growing disposable income for large sections of society. With this comes a growth in both tertiary services and the traditional industries, and the need for talented managers and leaders.
“The MBA can often fill the gap at a stage of one’s career when one rises to middle management. In the case of Asia, an increasing number of professionals from a technical background – such as I.T or engineering, want to acquire softer skills in management in an effort towards a career switch post-MBA.”
Not only are Asians looking overseas to study at business schools (the top five destinations are USA, UK, Australia, Canada and France according to the QS TopMBA Applicants Survey 2007) but aspiring MBAs from those countries are strongly considering Asian schools too. Singapore is the sixth most popular destination for overseas students while the other nations have also seen increases (see table 1). More and more recruiters are now keen to hire locally from the region thanks to the choice of top schools such as National University of Singapore and Hong Kong University on their doorstep.
TABLE 1
| Country | Percentage of MBA aspirants who would consider studying there |
| Singapore | 19% |
| India | 8.6% |
| Japan | 7.7% |
| Hong Kong | 6.8% |
| Malaysia | 4.8% |
| China | 4.5% |
Source: QS Applicant’s Survey 2007
International mix
In annual QS TopMBA research many schools showed a significant increase in the number of international students on their programs. The Chinese University of Hong Kong’s intake of overseas students is a high 75 per cent, whilst the National University of Singapore's international contingent stands at a staggering 95 per cent, making it among the most international schools in the world. Most schools, particularly those offering English-language MBAs, are reacting to this by trying to increase their own percentage of overseas students. Of course this benefits the schools financially, yet it is also extremely important to top level recruiters to find talent with a strong international background.
