Do you want to apply to an MBA program? You may know that MBA programs are becoming more and more competitive every year, but just how competitive were they in 2011-2012?
The Graduate Management Admission Council (GMAC) conducted a survey this year with 744 programs from 359 business schools in 46 countries. 527 of these were MBA programs, with 24 PhD/DBA Business Doctoral Programs, and 193 specialized Masters programs. The key findings clearly show a rise in applications to MBA programs across the board.
The GMAC’s key findings include:
• 51 percent of all graduate management programs reported more applicants than last year, 39 percent reported fewer, and 9 percent reported no change.
• Specialized master’s programs in fields such as management, accounting, and finance continue to enjoy robust growth. For the fifth straight year, majorities of each program type report more applications than the year before.
• Fueled by application gains among online and distance offerings, 46 percent of all MBA programs saw improved volumes in 2012, 45 percent saw declines, and 10 percent reported no change.
• The trend toward greater internationalization in applicant pools continues, with most program types reporting increased or steady application volume from foreign citizens.
• The quality of applicant pools remains strong. Some 90 percent of all MBA programs and 94 percent of specialized master’s programs reported that their 2012 applicant pool was more than or as qualified as last year’s applicant pool.
As an applicant from Taiwan to international MBA programs, what should be running through your mind when you see numbers like this?
A few things:
It’s important to remember that MBA programs prize work experience, and well rounded personalities who will contribute unique value to their community, and student body. MBA programs receive a host of applications every single year from students with perfect scores and grades, all of which tend to blend together. Remember to be thinking about your own unique and global experience.
MBA programs prize diversity. As an international student applying to western MBA programs, you bring unique cultural and social perspective to bear on the program’s coursework and social environment. Admissions officers see diversity as a unique point of differentiation which will be attractive to their domestic application pool. When you are applying to MBA programs, remember to emphasize your roots, your cultural background, and your enthusiasm and respect for western style business culture: in the eyes of admissions officers in the west – you are the diversity they prize.
The way you tell your story really matters. As mentioned above – grades and scores are not always the most important factor in the mind of the admissions officer. They want to understand your ethics, your values, your moral conscience. They want to understand that when you graduate and go into the world to become a successful management consultant or executive, that you will make decisions which will lead you to acheive great success, and increase the value of their University’s brand. As an applicant from Taiwan, you can emphasize the role of family values and morality in your culture, and communicate to the admissions staff that these values directly translate into your personal philosophy on business, and management.
Conclusion:
Even though the volume of applications for MBA programs have increased this year, and even though all of the numbers indicate that this will be one of the most competitive years for MBA applications ever, you don’t have to despair. What’s most important is to focus on how you emphasize your unique points of differentiation, and how you will bring value to your target school’s community.
Please refer to the catalogue of freely available information and strategies written up on my blog to serve as a reference in your application process. If you would like more individualized help in optimizing your application and crafting your unique story, feel free to reach out to me, David, at transcendadmissions@gmail.com.