Indians Flock to US MBAs
December 4th, 2013 by Jennifer Frankel
It should come as no surprise that the value of an MBA in the USA continues to rise. According to TopMBA.com’s annual “Jobs and Salary Trends Report,” there was a 14% increase in MBA job opportunities in 2013. What is perhaps more surprising, however, is the idea that not all MBAs are created equal. In fact, because the research also indicates exactly how much of this growth is driven by Asia (which, year-on-year, saw a 20% rise that vastly outpaces its closest competitor, the Middle East, at 8%), the growth in business school programs is a decidedly Western phenomenon.
Increased Interest, Declining Numbers
In fact, despite the fact that business schools in Asia have seen declining enrollment in recent years, business schools in the US continue to be popular destinations for aspirants from India. In fact, US enrollment rose between 2011 and 2013, more than 160 Indian programs closed their doors in the same period. This is borne out by a survey conducted by the Graduate Management Admission Council (GMAC) of 328 graduate business schools in 42 countries. According to the GMAC survey, there were more students from Indian than any other country in fully a quarter of all programs. Such a finding is interesting given the declining value of the rupee and the overall weakening of the Indian economy but is doubtlessly inspiring many graduate program recruiters.
Risk vs. Reward
Though more expensive and difficult to obtain than an MBA in India, it would appear that many applicants (and employers) are looking abroad rather than at home for their business school needs. Though the risk may be greater so too is the potential reward and, this too, corresponds with TopMBA.com’s findings. Since the days when employers limited their searches to local candidates are long gone, many students believe that a US degree can open otherwise closed doors in increasingly tight job markets.