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careers and informing them about all aspects of If possible, could you elaborate a bit on the more likely, business schools will find ways of
the business world. nationalities of students who most adapting themselves to provide other methods of
In 2007, McKinsey, a consultancy, estimated frequently take MBAs? fulfilling the market’s needs, whether by
that the developing economies of Asia would need The simple answer is that people of all redesigning the MBA or the shape of masters
50,000-70,000 new business leaders with MBAs nationalities are interested in doing MBAs. It is courses they offer.
over the forthcoming years to manage the safe to assume that the more affluent nations of the
developing economies of the region, particularly West, USA, Canada, Western Europe, provide a I understand that this industry is very
China and India, though the story is true to a lesser large number of MBA students. However the competitive. Can you describe what
extent for most Asian countries. Because of this I BRIC nations (Brazil, innovations or
can say with some confidence that the MBA is not Russia, India and means have US or
only significant but, in certain industries, becoming China) are providing a “We are also seeing an increasing E u r o p e a n
essential for the business leaders of the future. vast number of universities have
candidates and this is
number of women interested in the
undertaken to
How many students take their MBAs expected only to MBA, an increase in the number of attract foreign
outside their home countries? increase. Other nations students?
It is a hard figure to say exactly but we know with strong economies
US and European students
Many of the
that a huge number are at least considering doing such as Japan, Korea considering studying overseas in world’s top business
so. The table below, from the QS Applicant and the Middle East, schools travel with the
Survey 2008, shows the top ten countries that are also bring many
places such as Asia; and a radical
QS World MBA Tour
most popular globally for MBA study over the last students to MBA increase in the number of MBA and the other products
four years. courses while that QS offers, such as
developing nations in
graduates who are using their
Scorecard (www.
Destination 2008 2007 2006 2005 Asia, Eastern Europe, MBAs in social- or topmba.com/
United States 81% 80% 79% 78% Latin America and scorecard) and the
environmentally-beneficial causes.
UK 55% 53% 60% 59%
Africa will provide TopMBA Career
Canada 32% 35% 31% 27%
more and more Guide, the world’s
France 24% 22% 30% 31%
students in the future as leading publication for
Australia 21% 32% 26% 21%
their economies provide more opportunities for MBA students and applicants.
Singapore 16% 19% 19% 16%
employment. There has been a growing trend of western
Spain 15% 17% 22% 18%
business schools opening up campuses in Asia or
Switzerland 13% 15% 19% 17%
Some deans have told me that the market Latin America in a bid to broaden their reach to
Germany 12% 17% 19% 16%
for MBA’s is shrinking and students are international students and to teach local students
Italy 10% 13% 16% 11%
shifting to more specific courses such as say, in their own region, which reduces the cost for
Source: TopMBA.com Applicants Survey 2008
masters in supply chain management. How candidates embarking on their MBA. Some of
do you feel about this, would you say this is those schools include: INSEAD, which has
Could you discuss some common reasons the case based on your experiences? opened a campus in Singapore, University of
why these students take MBAs in the first The number of excellent masters courses Nottingham has a campus in Malaysia, Pepperdine
place and why they take them outside their available has increased in recent years but it’s not has a campus in Australia, Monash University in
home country? easy to compare the size of both markets. The Melbourne has opened up a campus in
Improving career prospects (69%) and MBA is a general business education which should Malaysia.
learning new skills (55%) proved to be the most cover all aspects of the business world, including There have also been individual cases such
common reasons given by our sample for marketing, leadership, strategy and so on. Masters as Kenan-Flagler Business School, University of
considering an MBA, followed by building a courses allow the student to focus on a specific North Carolina, which has developed an MBA
professional network (41%). Enabling a career point of interest to them but will not provide the program called OneMBA, which allows students
change has declined in popularity this year – 34%. general background of the MBA. Most business to study in four different continents (Asia, Europe,
Since this research began, boosting salary has schools, especially those at established universities, North America, South America) during their two
remained low down in the list of priorities of MBA will offer both and professors will often teach years of study.
applicants – selected by only 27% in 2008. across both types of course.
The number of respondents taking an MBA I do not believe that the education market is ross@qsnetwork.com
to improve their education has decreased to 21% shrinking and, as I said, current figures show that
and the overall data strongly reinforces the view applications are in fact increasing drastically. It
that an MBA is a highly vocational course taken may be that the MBA market as it exists now may
specifically to achieve career related goals. shrink gradually in some areas of the world but,

TopMBA CAreer Guide www.topmba.com 61
MBA_FALL_08_pp_60-61.indd 61 14/8/08 17:26:58
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