US MBA programs see drop in applicants

Harvard
Business School’s commencement ceremony.

Harvard
Business School/Facebook

• The number of applicants to American business schools
  reported a 7% drop in 2018, according to findings released by
  Graduate Management Admission Council on Monday.
• International applications plunged 10.5%, while
  domestic applications declined by 1.8%.
• Business school programs in Canada and Europe, on the
  other hand, saw solid growth from international applicants
  during the same period.

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American business schools — including elite universities like
Harvard and the University of Pennsylvania’s Wharton — reported a
decline in applications this year, as young professionals are
wary to leave their jobs for school. 

Applications for business school programs in the United States
experienced a roughly 7% decline compared to 2017, according to

findings released by the Graduate Management Admission
Council on Monday.

International applicants to American MBA programs fell 10.5%
during that time period, as steeper visa requirements have made
attending school in the US more difficult for foreigners. 

On the contrary, business schools in Asia Pacific, Canada, and
Europe all saw solid application growth over 2017. 

“Demand for graduate management education is stable year over
year,” said Sangeet Chowfla, GMAC president and CEO. 
“However, there are significant regional variations. Non-U.S.
programs continue to thrive, highlighting the continued emergence
of enhanced educational and professional opportunities outside
the United States.”

Amid “a disruptive American political environment” and the
emergence of competitive MBA programs outside of the U.S.,
non-American students are pursuing educational and professional
opportunities overseas, Chowfla added.

More than 60% of Canadian and European programs reported an
increase in international applications last year, and the
majority of applications received by these programs this year are
from international applicants, the report said.

A low US unemployment rate has also increased the opportunity
cost for young professionals to leave their jobs in pursuit of an
advanced degree, the report found. Domestic applications for US
schools fell 1.8%.