Considerations about declining applications for American MBA programs
2020 appears to be a difficult year for American MBAs. There has been a decline in applications for the American MBA programs as a market trend. In 2019 the fall was 6.9%. This decline does not affect the most prestigious business schools in the United States, but it is significantly affecting less competitive schools. Over the past few years, several schools without the proper international projection have created MBA courses with the whole structure of cutting-edge MBA programs with professors, flashy headquarters and career departments.
However, the current paradigm of the American government has meant that foreigners, previously eager to take an MBA in the United States, are no longer sure of the employability that these lesser-projected courses can offer on American soil. As a result, there has been a sharp drop in the number of foreigners applying for US MBAs. These candidates are choosing to pursue European MBAs or even MBAs in India, China or elsewhere in Asia. Even Africans are opting for MBA courses offered in African countries.
Another reason is the candidates’ premise that the MBA is too focused on general management, at the same time that the market demands strong concepts in technology and entrepreneurship. Several American business schools are reviewing their curricula to adapt to this new demand. Other subjects such as sustainability, ethics, and integration between MBA fronts that were previously taught separately, such as marketing, finance, and strategy, are now being taught together.
We must also consider that the American MBA has significantly increased in price over the last 10 years. As a result, scholarships are being granted like never before. It is very difficult for an accepted candidate not to receive at least $ 20,000 in financial aid.
Other factors to be considered in this adaptation are online MBAs, part-time MBAs, shorter duration (10 months) programs in parallel to a greater performance of the career office so that the MBA student can secure good jobs with great remuneration.
MBA House has been collaborating since 2006 so that its candidates have a full awareness of what the MBA market offers and strives for the correct choice of business schools, aiming especially at the candidate’s curriculum, career goals, and financial adequacy so that these goals are successfully achieved.