Indian students prefer Asia-Pacific and Europe for MBA, US applications see a drop
United States has been a popular destination for Indian students to pursue a master’s degree. There has been a steady rise in the number of Indian students studying in USA, thanks to its excellent quality of education and career prospects. While US remains the top choice for Indian students to pursue master’s in science and engineering, recent stats have shown a dip in MBA applicants for USA.
The survey was carried out by Graduate Management Admission Council (GMAC), which conducts GMAT- the qualifying test for MBA admissions in United States. 1087 graduate business programs taught in 363 universities were the sample set for this survey.
There was a 7% decline in the MBA applicants from India, according to the survey.
At the same time, there was an increase of 8.9% for the Asia-Pacific region, 7.7% rise for Canada and 3.2% for Europe. While the course is still opted by the students, USA is not as preferred as it was previously. This reveals that Indian students are seen to prefer Europe, Asia-Pacific as well as Canada for Master’s in Business.
Along with this, the Asia-Pacific region has seen a rise in applications from not only Indian but also a significant amount of international students.
While the universities in United States are eager to on-board international talent for their MBA programs, the high cost of studying in United States along with volatile VISA policy for Indians might be one of the reasons why Indian students are opting for countries other than United States.
The MBA program has most applicants who are working professionals wanting to add to their experience with a master’s degree. Since the rate of employment for graduate individuals in India is increasing, hence pursuing a master’s degree by quitting existing jobs might not be a top choice for Indians, going forward.
“Non-US Programs are still generating interest among the students, but the opportunity-cost being higher in USA, there’s a dip in the US applications” said Sangeet Chowfla, the CEO and President of GMAC.
According to experts, this is not a positive change for United States. The country for its steady economic growth needs more diversity and international talent and international individuals need to be given more liberty to study and work in USA.
Better VISA policies and decrease in the overall cost for pursuing MBA in USA can change the scenario, going ahead.