In terms of the advice admissions consultants were likely to give, 32 percent of applicants who used admissions consultants said they were encouraged by them to earn a higher GMAT score before applying. Twenty-nine percent said their admissions consultant urged them apply to a school not previously considered, and 27 percent said their consultant encouraged them to apply to more schools that originally planned.
Optimism Around MBA’s Career Impact
MBA applicants continue to be optimistic about how the degree will impact their job options and salary prospects, the survey found. Almost half (41 percent) of those who intend to apply by January 2017 expect a salary increase of more than 50 percent within six months of graduation.
Consulting was the distinct favorite in terms of post-MBA career paths, cited by 53 percent of respondents. AIGAC, which is a trade organization of admissions consultants, noted that these findings suggest that applicants’ career expectations with regard to intended career paths need to be managed. Consultants represented 26 percent of MBA graduating classes in 2007, and though that had increased to 29 percent by 2013, there is little room let to grow, AIGAC noted. “Based on last downturn, total hires may fall,” read the report.
Finance/accounting and technology tied for second among MBA applicants surveyed, with 33 percent indicating interest in each field. Job opportunities in finance, of course, have decreased in recent years. In 2007, 43 percent of MBA graduates from top MBA programs went into finance, down to just 29 percent in 2013. But the tech field has shown consistent growth, says AIGAC, providing a landing pad for 17 percent of 2013 MBA grads, up from just 8 percent in 2007.
Tuck Works Hardest to Get to Know Applicants
As it has in past surveys, AIGAC queried MBA applicants on how well they felt different schools got to know them as part of the application process. Dartmouth’s Tuck School of Business got the highest marks in this arena, followed by Spain’s IE Business School, Northwestern’s Kellogg School of Management, Duke’s Fuqua School and Cornell’s Johnson Graduate School of Management. Notably, five of the top 12 schools were located outside the United States. Also receiving praise for how well they got to know applicants were the University of Chicago Booth School of Business, IESE, Tepper, Rotman, INSEAD, Oxford’s Saïd Business School and UT’s McCombs School.
Finally, the survey asked applicants whether and from whom they received help in the admissions process. Most candidates—44 percent—said they turned to friends. Another 39 percent sought help from an admissions consultant. Family members helped some 30 percent, and school alumni provided assistance to 25 percent. Roughly one in five (17 percent) reported not receiving help from anyone.
Of the more than 3,500 respondents who completed the open, online survey between February and May of this year, 1,114 said they intend to enroll by January 2017. Responses from this subset of applicants contributed to the survey’s primary findings.
