The Graduate Management Admissions Council reports that MBA applications were up in 2007 over 2006. I wouldn’t exactly say this announcement is shocking news as much as confirmation of what we experienced in 2007 and anticipate for 2008. According to the press release:
- "Nearly two-thirds of full-time business education programs" reported in increase in applications over 2006.
- 69% of part-time programs reported increased application levels.
- 63% of EMBA programs reported increased application levels.
The report attributed the increase in applications to increased employer demand for MBAs. "Corporate recruiters told GMAC
researchers this year that the biggest obstacle they face in hiring new MBAs is competition from other employers–and a majority of new MBA graduates reported receiving multiple job offers this year, often weeks before graduation."
GMAC also reports that GMAT test-taking volume through June 30, 2007 is up 12.47% — outside the U.S. it is up a whopping 21.56%. Registrations are up worldwide by 10.79% and outside the US by 20.51%. Obviously these numbers imply that the increase in test-taking and registration in the US is more modest — 8.3% and 5.84% respectively.
Expect a tough, competitive year if you are applying. A great year, if you are graduating.
Ironically GMAC has posted the news release, but not yet updated its site to include the latest survey. If someone notices the link to the 2007 results, please email me. I would like to see them, and I will then update this post to include the link.