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Old 2015-01-29, 08:03   Link #35603
SaintessHeart
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Join Date: Nov 2007
Age: 29
Americans Might Be Losing Interest in Business School

Quote:
What were once quiet questions about the value of a master's in business administration have become brazen calls, from venture capitalists and old-school businessmen alike, for young entrepreneurs to skip business school altogether. Now it seems that Americans are less interested in the degree than they used to be.

The number of Americans taking the Graduate Management Admissions Test, which is used in admissions at most business schools, fell for a second consecutive year in 2014, according to data from the Graduate Management Admission Council, which administers the test. Some 87,000 U.S. citizens took the exam from July 2013 to June 2014, a 33 percent drop since 2009, when over 130,000 Americans took the test. The drop looks particularly dramatic because of an artificial bump in test taking in 2012, when students rushed to take the exam before the organization added a new "integrated reasoning" section, says Rich D'Amato, a spokesman for GMAC. Americans might also be shying away from the GMAT because when the economy is good, employed people want to stay that way, and the unemployed tend to think they won't be for long.

"As an economy begins to show some signs of difficulty, and especially in the job market, GMAT test taking tends to rise," says D'Amato. "We have seen this as a cyclical and repeated in past economic cycles."

Still, the seven-year slump is stark, and may partly explain a further trend in business education: Most of the growth in applications to U.S. business schools appears to be driven by foreigners.

Applications overall increased at over 60 percent of the 469 MBA programs surveyed by GMAC in 2014, up from 2012, when just four in 10 business schools reported a rise in applications. At U.S. schools, the increase has been even sharper, as only a third of American programs reported increases in applications two years ago. That surge may seem a sign of good health, but it may have less to do with growing interest in business school among Americans than beefed-up efforts by schools to attract international students. While applications from Americans have grown since 2012, when only 22 percent of schools saw the number of domestic applicants rise, more schools reported bumps in foreign applications last year. Nearly two thirds of the programs surveyed said foreign applications were up in 2014. Less than half said this was true for domestic applications.

The test has also become slightly more diverse in recent years. Two-thirds of people who took the test by July 2014 were white, a slight decrease from 2007, when nearly 70 percent of test-takers were white. Blacks, Hispanics and Asians now make up 27 percent of all test-takers, up from 25 percent in 2007.
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