While an MBA degree continues to maintain its charm among the students, the reputation of the educational system is the most important factor which helps any prospective student decide a preferred study destination.
A recent report on prospective students survey by the mba.com reveals that India gained itself a place in the top 5 most preferred destinations for MBA students. The United States tops the list of the top 10 preferred study destinations followed by United Kingdom, Canada, France, India, Hong Kong, Germany, Singapore, Australia, and the Netherlands.
Apart from having a good reputation for educational system, affordability of education/tuition fees and the availability of financial aid are also the factors which make India a preferred choice for students.
Consistent with previous survey year findings, a majority, 70 per cent, of prospective students worldwide indicate a preference to study in the United States.
The most common reservation prospective students have about pursuing a graduate management degree revolves around the cost of the education. MBA candidates expect to finance nearly half of their education through personal earnings or savings and loans. According to the survey report, specialized master's candidates expect to rely on parental support and personal earnings or savings to finance half the cost of their education.
Visa rules of the study destination also acts as a big factor while counting down. "I feel that the visa rules of host country are a very important factor in deciding the institute/campus for international graduate program. In that sense I feel that Canada and Germany offer one of the best environments for international applicants," a respondent said.
The primary motivations of today's prospective business school students to pursue a graduate management education are consistent with the past to increase job opportunities, develop knowledge, skills, and abilities (KSAs), and increase salary potential.
Quality and reputation of the program continue to be of primary importance to many prospective students when choosing a school. Finance, consulting and products and services continue to be prospective students' most sought-after industries.
The report is based on the data collected in 2013 for prospective students survey conducted by GMAC (2014) mba.com.