A survey from the Graduate Management Admission Council shows that US business schools saw a 7% decrease in applications during this year's cycle, including Harvard Business School's biggest year-over-year application decrease in 13 years. US business schools also received 11% fewer international applications than they did last year.
While the merit of MBA programs remain a perpetual topic of debate, what the discourse often lacks is a sense of "why," writes Sangeet Chowfla, president and CEO of the Graduate Management Admission Council. GMAC market research indicates 7 out of 10 full-time MBA graduates claimed they would not have been able to obtain their current job without an MBA, and other market insights show MBA grads believe their degrees are conducive to professional development.
A report from CarringtonCrisp shows that 53% of students in 39 countries favor specialist MBA programs, while 47% are drawn to more general degrees. The report also finds that more than a quarter of students want to focus on learning leadership skills and nearly 18% emphasize strategy.
Students enrolled in the Lisbon MBA program attend a special workshop series to develop soft skills, such as problem-solving and teamwork, that surveys have shown are sought by employers. Graduate Management Admission Council CEO Sangeet Chowfla says business schools need a diverse student body to encourage the development of such skills.
A combination of a strong job market, influence from multinationals and easily accessible visas are making Dutch business schools increasingly attractive. Other benefits include close proximity to the country's business community and not needing to speak Dutch to succeed.
As the health care industry transitions toward value-based case, it is becoming increasingly important for medical professionals to have business savvy, according to a report in Physician Practice. "Health care is a business, and until you understand the language of business, it's hard to do business in health care," says Rich Joseph, who holds an MBA and is a resident at Boston's Brigham and Women's Hospital.
An MBA can be useful to a professional, as it helps to advance their career in meaningful ways, writes Bill Ryan, founder of Ryan Career Services. In this commentary, Ryan outlines several types of MBA programs available and cautions applicants to choose one relevant to their industry.