Even in the times of economic gloom, B-schools across the globe have boom time. And, India is the motivating force in the noticed expansion in numbers of application in 24% of the 683 management programmes across 42 countries.
In the US, 52% of the full-time management programmes have seen increased interest, while in the Asia-Pacific region 53% it is. The biggest draw conversely is Europe with 73% of the programme receiving more applications than in 2012.
Indian aptitude test CAT 2013 has so far received 1, 93,596 registrations till Wednesday. As per GMAC-Graduate Management Admission Council's 2013 Applications trends Survey, MBA full-time programmes worldwide noticed boost in the number of this year applications when compared with that of last year.
According to GMAC, the conductor of GMAT, for two-year full-time MBA programmes in the US, 52% of programmes states that the application raised over 2012, the first time since 2009.This year's survey by GMAC incorporated 683 graduate-level business and management programmes together with 328 B-schools of 42 different countries.
Master in Management programmes in Europe continues to demonstrate strength, seeing that 73% of programmes report application increases from 2012. In the meantime, 38% of full-time one-year MBA programmes in Europe reported gain of application in 2013, as compared to that of 37% in when surveyed last year.
India found to drive the maximum increase in supply of talent of 24% when 683 programmes received the elevated number of applications.
As opinionated by Bibek Banerjee, (Director of Institute of Management Technology, Ghaziabad) this is a common occurrence and the cause for rise in number of application from our country is because of inadequate number of quality B-schools present in the nation. He said, “It is basically economics of opportunity. It is a worldwide phenomenon, where demand, especially for management education, goes up during recession. Whenever the market is drying up it is good to invest in education. In the context of India, after 60 years of independence, we still have no good management university with the exception of a few IIMs, ISB and the likes of IMT which can recruit just around 8,000 candidates annually. In India the gap between the top tier and middle rung institutions is enormous. So what is the alternative, but to explore opportunities abroad?”
GMAC’s Vice president - Research and development, Lawrence Rudner mentioned Recession brings boom to management education.