New MBA Applicant Survey 2012

In order to understand what is needed from business education, primary research into applicant desire and ambition is key. Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds reviews a selection of the findings from the QS TopMBA.com Applicant Survey 2012.

Business schools, and MBA programs in particular are primarily focused towards two key consumers: businesses, and their employees (both current and future). Of course, there are other stakeholders and beneficiaries that need to be taken into account, such as governments, society, and economies, but primarily business education is geared towards these two groups.

As a result, primary research that reports on the needs and desires of either one of these groups can prove invaluable in assessing the current value of business education, and how it could further evolve in order to meet these two consumer’s needs and demands.

Each year, QS produces the QS TopMBA.com Applicant Survey, which aims to give global MBA applicants a voice by publishing the needs, desires, and ambitions of thousands of their counterparts from around the world. For over 20 years, and in various forms, QS’ MBA applicant survey has been highlighting what exactly it is that prospective MBA applicants want, or need from their future business education.

Released only recently, 2012’s QS TopMBA.com Applicant Survey report is certainly an interesting and insightful read.

Greater diversity in MBA study destinations

Of particular note is the greater diversity in the choice of MBA study destinations amongst global MBA applicants in general.

While the US and the UK clearly remain the top two preferred destinations for MBA applicants, their lead has decreased year on year, continuing a trend of the last five years, as more and more countries become relevant as MBA study destinations.

The survey data reveals that countries outside of North America and Western Europe, which did not feature as MBA study destinations a decade ago, are rising up the top 20 destination list each year. Singapore is now 9th, China has risen to 12th, the UAE to 15th, and South Africa to 18th most popular MBA study destination.

As countries such as China and South Africa increasingly feature in global economic discussion, MBA applicants are being attracted to local business schools aiming to benefit from developing a cultural understanding and close ties with local employers.

However, at the same time, the top 10 destinations retain a strong lead in popularity amongst MBA applicants and are almost exclusively western nations. The only exception is Singapore; a nation well-known for offering western business ideals, as well as strong business education links to Europe.

The dominance of European and North American business education destinations reflects the long history and good reputation of business schools located in those countries.

Increasing levels of experience

Very prominent in the QS TopMBA.com Applicant Survey 2012 is the increasing age, and years of work experience possessed by those responding to the survey.

While the age of MBA applicants varies from region to region, as it always has, demographic data in the survey shows the average age has increased in every region, and globally by 0.7 years.

A number of factors may be influencing the changing demographic profiles of MBA applicants around the world.

In Asia, where there is a shallower dip in young applicants, the greater willingness of parents to partly fund MBA study as a path to career success, combined with strong job markets, may be sustaining demand amongst all age ranges.

In North America and the Middle East, positive signs of MBA employability relative to non-MBA employment, as reported in the QS TopMBA.com Jobs and Salary Trends Report 2011, may be sustaining demand across all ages and levels of work experience.

By contrast, in Latin America, the boom in graduate jobs and tight labor market may be putting off younger applicants already experiencing rapid salary growth, but encouraging more experienced candidates seeking to achieve a career change into a management role.

In Europe, the surge in demand for pre-experience Masters is likely causing those Masters graduates to wait longer until they subsequently invest in an MBA.

Other young MBA applicants may be more risk averse during times of economic uncertainty. However, we also see some evidence of MBA applicants having greater confidence in post-MBA salaries and the MBA being seen as a safe haven qualification which is attracting increased numbers of candidates with over four years of work experience.

Shorter, adaptable MBA programs growing in popularity

This year the QS TopMBA.com Applicant Survey reveals that MBA applicant program preferences are continuing to shift.

The full-time MBA remains by far the most popular study format.

However, results in 2012 reveal a tendency for more MBA applicants to consider program formats that can be combined with work, or which minimize the time spent out of work in order to attend business school.

This is evident through the slight increase in applicant preference towards online, distance, and executive MBA program formats, coupled with a small decrease in the popularity of full-time MBA programs. The popularity of part-time programs has decreased, perhaps due to the comparatively greater flexibility offered by executive, distance and online options.

These trends are purely a selection of the findings in this year’s QS TopMBA.com Applicant Survey – the full report reveals a substantial amount of findings in both the primary data and analysis. For instance, the salary expectations of MBA applicants have reached all new highs, but at the same time differ considerably between male and female candidates. Then there’s the industry sectors that MBA candidates are coming from, as well as hoping to enter into post-graduation, and how applicants from around the world plan to fund their MBA studies.