Enrolling the Incoming Class of 2021: Insights into the diverse journeys of prospective students applying to business schools
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March 2021 Enrolling the Incoming Class of 2021: Insights into the diverse journeys of prospective students applying to business schools mba.com Prospective Students Survey 2021 Access the report, blog, and infographic
Contents 1. Key Findings and Summary 4-12 3. Appendix 28-59 1. Analyses by Program Type 2. Candidate Journeys and 13-27 2. Analyses by Candidate Citizenship Career Aspirations 3. Analyses by Study Destination 1. Concern about the impact of COVID-19 2. Value of graduate business degree 4. About 60-64 3. Impact of COVID-19 on business school decisions 1. Graduate Management Admission Council (GMAC) 4. Career opportunities gained through on-campus vs. online program 2. Respondent Summary 5. Willingness to complete a degree 3. Contributors and Contact Information online due to COVID-19 6. Triggers for pursuing GME 7. Use of information sources 8. Career goals 9. Industries of interest 10. Job functions of interest ©2020 Graduate Management Admission Council (GMAC). All rights reserved. 2
GMAC Research • Resources • Blogs • Infographics • Reports GMAC Mission • Webinars Provide the tools and information • GMAT™ necessary for • Geographic Trend Report schools and talent • Profiles of Testing to discover and evaluate each other • Survey Research • Application Trends Survey • Corporate Recruiters Survey gmac.com/research • mba.com Prospective Students Survey 3
The pandemic reconfigured the 2020 enrollment funnel Reconfiguration of the enrollment funnel The journey candidates embark on when considering and applying for graduate business programs involves a complex interplay of individual, school, and destination characteristics. The COVID-19 pandemic has reset these Increase in applications characteristics, resulting in a new set of choices for candidates. At GMAC, we have been tracking candidate journeys in the context of the COVID-19 uncertainties. An analysis based on the data collected in March 2020 concluded that “The Increase in acceptance rates uncertainty and crisis caused by the COVID-19 global pandemic will influence the choices and expectations of graduate management education (GME) candidates. At the same time, prospective candidates are not giving up on their aspirations.”1 Increase in deferral rates However, the diversity of candidate preferences (e.g., by program type--MBA and business master’s or by study destination—domestic vs. international) would shape their future journeys. In November 2020, the GMAC Application Trends Survey2 used the responses Decrease in yield rates from over 1,000 graduate management programs worldwide to confirm that school and candidate decision-making in this pandemic-induced economic downturn is about hedging risk and managing uncertainty. This context reconfigured the enrollment funnel in terms of a higher number of applications and a lower yield. Source: 2020 Application Trends Survey, GMAC gmac.com/ApplicationTrends 1 Coronavirus pandemic disrupts plans but not aspirations of prospective business school students, GMAC Advisor 2 2020 Application Trends Survey, GMAC 4
The top of the enrollment funnel for Demand for GME accelerates graduate management education programs in 2021 continues to gain for the incoming class of 2021 interest from prospective students. This aligns with a decline in the proportion of candidates reporting that they are concerned about the impact of COVID- 19 on their pursuit of GME in 2021. Additionally, the demand for GME in 2021 has increased as candidates signal Demand for graduate management education a willingness to explore different paths accelerates as candidates pursue diverse pathways to achieve their career goals. This to achieve career goals report identifies at least three notable drivers of growth in demand for GME. They relate to employability, flexibility, and regional mobility. The findings provide a forward-looking view of the shape of the things to come Skills gap triggers Flexibility expands Mobility restrictions for graduate enrollment at business consideration of GME consideration of drive consideration schools in 2021, and the results reaffirm for job market online learning of alternatives closer the importance of monitoring and competitiveness among women to home tracking diverse candidate journeys to inform future enrollment strategies. 5
Tracking diverse journeys of MBA-Domestic: Candidates preferring to enroll in an MBA program within their prospective students planning country of citizenship. E.g., a German to enroll in 2021 citizen indicating a preference to pursue an MBA program in Germany. Diversity of demography, experiences, and cognition MBA-International: Candidates preferring to enroll in an MBA program shapes identities of origin, growth, and aspiration3 outside their country of citizenship. E.g., a German citizen indicating a preference How are journeys for 2021 candidates evolving? This report is based on the to pursue an MBA program in the US. mba.com Prospective Students Survey conducted by Graduate Management Admission Council® (GMAC®) on a monthly basis. The findings detailed in this report Business Master's-Domestic: are based on data collected between July and December 2020 from a total of Candidates preferring to enroll in a 2,515 individuals worldwide who indicated plans to enroll in a GME business master’s program within their program in 2021. country of citizenship. E.g., a German This analysis provides data and insights into how prospective students are shaping citizen indicating a preference to pursue their choices and preferences for pursuing a graduate management education (GME) a business master’s program in Germany. program in 2021. A breakdown of the respondent profiles and a summary by candidate citizenship and program type are available in the appendix. Business Master's-International: This report illustrates diverse candidate journeys, emphasizing variations by preferred Candidates preferring to enroll in a study destination (domestic vs. international) and preferred program type (MBA vs. business master’s program outside their business master’s). International candidates are defined by their preference to study country of citizenship. E.g., a German in a destination outside their country of citizenship. citizen indicating a preference to pursue a business master’s program in the US. 3 The 3 types of diversity that shape our identities, Harvard Business Review 6
Candidate concerns about the impact of COVID-19 is waning Level of concern about the impact of COVID-19 on pursuing GME in 2021 is Looking at the decision-making journey of prospective students who prefer declining to pursue GME in 2021, we notice that the level of concern about the impact of COVID-19 has been declining over time. The proportion of Extremely or Very concerned respondents reporting that they are extremely or very concerned Slightly concerned on Not at all concerned has declined from 41 percent in July to 33 percent in December. Overall, for this six-month period, one-third (35%) of prospective students 41 39 37 38 are very or extremely concerned, and another-third (33%) are not at all or 35 31 31 slightly concerned. Unsurprisingly, international candidates are reporting a % of Respondents 27 higher level of concern than domestic candidates due to continued travel, 31 32 31 33 visa, and safety constraints. Specifically, 41 percent of international candidates planning to pursue a business master’s program report that they are very or extremely concerned about the impact of COVID-19 as compared to 27 percent of domestic candidates (See chart here). July August September October November December While there are variations in the levels of concern, most respondents continue to exhibit strong confidence in the value of a graduate business Q: How concerned are you about the impact COVID-19 may have degree. Overall, four in five (84%) candidates strongly agree or agree that a on your pursuit of a graduate business education in the future? graduate business degree helps someone stand out at work. 7
International candidates are driven by global careers while domestic candidates are driven by salary increases Career aspirations are an essential driver for many candidates Overall, international candidates are driven by opportunities to embarking on their journey to pursue GME. Analysis of post- live/work overseas, while domestic candidates are driven by a GME career goals provides insight into how candidates' career desire for career advancement. Specifically, more than half of aspirations influence their choices of programs and candidates who are planning to pursue an MBA in their country destinations. This understanding can help business schools of citizenship report getting a raise/salary as their top career align their recruitment, admissions, and career services to goal. Over 40 percent of international candidates report candidates' diverse needs and expectations. working outside their country of citizenship as the primary career motivation (See chart here). Top-3 Career Goals MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International Get a raise/salary Work outside my Work outside my country 55% 43% Get a raise/salary increase 35% 41% increase country of citizenship of citizenship Obtain a senior level Work for a company where Work for a company where I Manage people 46% 38% 30% 40% position I can travel internationally can travel internationally Obtain a senior Live outside my Live outside my country of 44% 38% Manage projects 30% 38% level position country of citizenship citizenship 8
Domestic business master’s candidates are most likely to Top-3 Triggers for Candidates to report skills gap Pursue GME MBA-Domestic MBA-International Business Master's-Domestic The journey for pursuing a graduate business degree begins early and is shaped Business Master's-International over time. Nearly half of candidates reported that they first considered graduate business education while completing their undergraduate degrees or high school. 52% I always planned to pursue a Consequently, more than half of prospective candidates (58%) mentioned that they graduate business education at 61% “always planned to pursue a graduate business education at this point.” Given the this point 48% complexity of decision-making for international candidates, they are more likely to 65% report that their timing is in line with their initial career plan. However, the pandemic context has expanded the pool of candidates considering 39% GME as they discovered a lack of competitive skills in a job market. Overall, more Wanted to apply for a job, but 33% than a third of the prospective candidates (37%) reported that they “wanted to apply lacked required skills and/or degree to be competitive 50% for a job but lacked required skills and/or degree to be competitive.” In particular, 36% Business Master’s-Domestic candidates were most likely to report a skill gap (50%), perhaps because they had no or insufficient work experience to demonstrate skills for the job they wanted. 37% 26% In contrast, MBA-Domestic candidates are most likely to report “convenient time to Convenient time to go to school go to school” as the primary trigger for GME (37%). While MBA candidates have some 35% work experience, they see the value in hedging their career risks by pursuing GME 23% in times of uncertainty. Overall, the demand for GME expanded as more candidates recognize the need to emerge out of a shaky economy more career-ready. % of respondents 9
Women are embracing online The impact of COVID-19 has been learning at a higher level than men more severe on women as they shouldered more responsibilities of remote education and work4. Despite Percentage of candidates reporting willingness to complete more than 30 percent of the challenges, many female their graduate business degree online due to COVID-19 candidates recognized the need to Business Master's- Business Master's- invest in GME for career advantage MBA-Domestic MBA-International Domestic International and were willing to adapt their plans Female 60% 30% 66% 43% to obtain the degree5. Male 52% 24% 59% 38% Data suggests that women candidates are more likely to seek the flexibility of online Percentage of candidates strongly disagreeing to the statement “career opportunities learning. They are willing to accept gained through an on-campus graduate business degree are same as gained through a higher proportion of their degree to an online degree” be completed online due to COVID-19 MBA-Domestic MBA-International Business Master's- Business Master's- compared to men. They are also Domestic International more likely to agree that career Female 17% 24% 10% 20% opportunities gained through an on- Male 24% 35% 24% 29% campus graduate business degree are the same as those gained through an online degree. 4 Why has COVID-19 been especially harmful for working women? The Brookings Institution 5 Women and graduate management education, GMAC 10
International candidates still prefer mobility over online Impact of COVID-19 on business school decisions? MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International Overall, international candidates (70%) are more likely to report that they are not changing their original plans than domestic candidates (52%). This suggests that most international candidates continue to value mobility and do 52% not prefer substituting in-person experience with online learning. I am not changing my 73% original plans 52% Among international candidates, those preferring to pursue an MBA are more 68% likely to say that they are not changing their plans (73%) for an alternative such as online learning or a business school closer to home than those preferring a business master’s (68%). Only one in eight (13%) MBA- 30% International candidate is willing to consider online learning I am more willing to 13% compared to one in three (30%) MBA-Domestic candidates. consider online learning 31% 15% Domestic candidates report more willingness to consider alternatives such as staying closer to home or adopting online learning. Domestic candidates for MBA (28%) and business master’s (30%) programs indicate that they are 28% more willing to consider a business school closer to home in order to pursue I am more willing to 15% their degree in 2021. consider a business school closer to home 30% In sum, the pandemic is compelling some candidates to consider alternatives; 21% however, they are not giving up on their career aspirations for pursuing GME % of respondents in 2021. 11
Other key highlights about prospective students planning to enroll in 2021 • The full-time MBA remains the most popular program, as 42 percent of candidates report it as their preferred option. • Respondents preferring to study in Asia Pacific (43%) and Europe (58%) are more likely to be under 24 years old than • The full-time one-year MBA is the preferred program for the US (30%). candidates planning to study in Canada (26%), France (27%), Spain (38%), and the UK (28%). However, a full- • Demand for select specialty business master’s programs is time two-year MBA is the preferred program for candidates driven by female candidates: Master of Marketing (78%), planning to study in the US (33%). Master of Accounting (61%) and Master of International Management (53%). • US citizens still prefer the full-time two-year MBA (29%) followed by the full-time one-year MBA (16%). • The top post-GME career goal for Indian citizens is to work for a company where they can travel internationally. They are more • Candidates planning to pursue full-time two-year MBA likely to consider a business school closer to home (21%) programs report Consulting (49%) and Technology due to COVID-19 than to consider online learning (5%). (39%) as the top two industries of interest. • Candidates from Greater China report the UK (27%) as their • MBA-International candidates prefer Technology (45%) preferred study destination and Master of Finance (20%) over Financial services (36%), possibly due to higher as their preferred program. expectations of future employability and visa potential. • Nigerian citizens report Canada (44%) as their preferred • Among the candidates from underrepresented populations destination for pursuing GME followed by the US (29%). (URPs) in the US, 27% have educational backgrounds in STEM and 38% desire strategy roles post GME. • Although a school’s website is the primary resource candidates leverage when researching GME, MBA-Domestic candidates are • One in three domestic candidates planning to pursue Master more likely to also consult friends and family (51%) while of Data Analytics is more willing to consider online learning MBA-International candidates use rankings (49%). due to the impact of COVID-19. 12
Candidate Journeys and Career Aspirations The path to pursuing GME is complex and requires several decisions driven by underlying career goals. The following section focuses on individuals planning to enroll in a GME program in 2021 and examines how their journeys vary by preference for program type and study destination. It addresses the following questions: • How are concerns about the impact of COVID-19 shaping the decisions and journeys of prospective students? • What are the triggers/motivators for pursuing GME? What are the information sources used by prospective students? • What are prospective students’ post-GME career goals, preferred industries, and job functions? Back to Table of Contents 13
A job that is self-fulfilling, allows for growth and makes … the world a better place - Female candidate from the US preferring to pursue an MBA program Driven to make … Steady career growth correlated with a higher impact on society, customers and colleagues an impact - Male candidate from Germany preferring to pursue an MBA program I want to work for consulting to help Japanese … businesses expand internationally - Female candidate from Japan preferring to pursue business master’s program Creating a world-changing investment institution Q: Please describe your ideal career. … that focuses on social welfare These are select open-ended comments - Male candidate from the US preferring to pursue an MBA program from prospective students--edited for brevity. 14
Concern about the Impact of COVID-19 Not at all Concerned Slightly Concerned Moderately Concerned Very Concerned Extremely Concerned 8% 9% Overall, one-third (35%) of 11% 12% 12% prospective students are 19% 18% very or extremely concerned 24% 27% 29% and another-third (33%) are % of respondents not at all or slightly 33% 34% 33% concerned about the impact 33% 33% of COVID-19. International candidates report a higher 26% 27% 24% level of concern than 21% 23% domestic candidates. 9% 14% 12% 7% 3% Overall MBA-Domestic MBA-International Business Master's- Business Master's- Domestic International Q: How concerned are you about the impact COVID-19 (coronavirus) may have on your pursuit of a graduate business education in the future? 15
A graduate business degree helps in standing out at work Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree 3% 2% 3% 4% 3% 11% 10% 11% 12% 11% Overall, four in five (84%) of candidates planning to pursue a % of respondents 62% 56% GME program in 60% 61% 62% 2021 strongly agree or agree that a graduate business degree helps in 24% 25% 28% standing out at work. 22% 21% Overall MBA-Domestic MBA-International Business Master's- Business Master's- Domestic International Q: Please indicate how much you agree or disagree with each of the following statements - A graduate business degree helps you stand out at work. 16
Overall, COVID-19 has opened avenues for regional mobility as more consider studying closer to home Shift in considerations for pursuing graduate business education due to COVID-19 67 66 64 61 60 59 % of Respondents I am not changing my original plans I am more willing to consider a business school closer to home 25 24 25 23 I am more willing to consider online learning 21 19 26 23 22 20 19 12 July August September October November December Month of Responses Q: How has the coronavirus impacted your business school decisions? Select all that apply. 17
Impact of COVID-19 on business school decisions Overall MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International 63% 52% Three in four (73%) I am not changing my original plans 73% 52% candidates planning to pursue 68% an MBA outside their country of citizenship are not changing 21% their original plans. However, 30% one in three domestic MBA I am more willing to consider online learning 13% 31% candidates is considering 15% online learning or a b-school closer to home as alternatives 22% to their original plans. 28% I am more willing to consider a business school closer to home 15% 30% 21% % of respondents Q: How has the coronavirus impacted your business school decisions? Select all that apply. NOTE: Percentages may add up to more than 100 due to multiple selections. | “Other” is removed from the analysis. 18
Overall, acceptance of career opportunities gained through online learning has increased over time Percentage of candidates strongly disagreeing that “career opportunities gained through an on-campus graduate business degree are same as gained through an online degree.” 37 35 33 % of Respondents Strongly Disagreeing Male 25 25 24 23 21 20 19 16 Female 11 July August September October November December Month of Responses Q: Please indicate how much you agree or disagree with each of the following statements. - Career opportunities gained through an on-campus graduate business degree are same as gained through an online degree 19
Career opportunities gained through on-campus vs. online program Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Only 8 percent of 21% 17% 25% 31% 25% international candidates planning to pursue an MBA program strongly agree or % of respondents 44% 43% agree that “career 44% 48% 43% opportunities gained through an on-campus 23% graduate business degree 20% 19% 17% are same as gained 18% 13% 13% through an online degree.” 10% 6% 9% 2% 3% 2% 2% 1% Overall MBA-Domestic MBA-International Business Master's- Business Master's- Domestic International Q: Please indicate how much you agree or disagree with each of the following statements. - Career opportunities gained through an on-campus graduate business degree are same as gained through an online degree 20
Willingness to complete a degree online due to COVID-19 Less than 10% 10-30% More than 30% 26% A quarter of international 43% 40% candidates are willing to 56% 62% complete less than 10 % of respondents percent of their degree online as a result of COVID- 50% 19. In contrast, 56 percent 43% 46% of domestic MBA candidates 36% are willing to complete more 30% than 30 percent of their 24% degree online. 15% 14% 8% 8% Overall MBA-Domestic MBA-International Business Master's- Business Master's- Domestic International Q: If you were accepted into a graduate business program, what percent of your program would you be willing to complete online as a result of COVID-19 global pandemic? 21
Overall, increase in proportion of candidates pursuing GME due to skill gaps discovered during the job search process Percentage of respondents reporting triggers for pursuing graduate management education (Top-3) 61 62 58 58 59 54 I always planned to pursue a graduate business education at this point % of Respondents 40 37 38 Wanted to apply for a job, but lacked required skills 35 36 35 and/or degree to be competitive Convenient time to go to school 32 33 30 28 28 25 July August September October November December Month of Responses Q: Please indicate which of the following events, if any, prompted you to begin taking action on your journey to a graduate business education. Select all that apply. 22
Triggers for pursuing GME Business Business Top-5 Triggers for MBA- Pursuing GME Overall MBA-Domestic International Master's- Master's- Thirty-seven percent of Domestic International all candidates report I always planned to pursue a graduate business 58% 52% 61% 48% 65% that they were education at this point prompted to apply for a Wanted to apply for a job, graduate business but lacked required skills 37% 39% 33% 50% 36% degree because they and/or degree to be competitive “wanted to apply for a Convenient time to job but lacked required go to school 30% 37% 26% 35% 23% skills and/or degree to I realized I lacked specific be competitive.” knowledge to do my 21% 18% 24% 24% 21% current job I had the financial resources 20% 22% 18% 29% 19% to apply Q: Please indicate which of the following events, if any, prompted you to begin taking action on your journey to a graduate business education. Select all that apply. 23
Use of information resources for researching GME Business Business Top-5 Information MBA- Overall, MBA candidates Overall MBA-Domestic Master's- Master's- Sources International Domestic International are more likely to rely on rankings than business School websites 64% 68% 62% 66% 62% master’s candidates. Domestic business mba.com 48% 57% 50% 46% 38% master’s candidates are least likely to Friends/family 47% 51% 45% 45% 47% rely on rankings. Published rankings of graduate business 44% 45% 49% 36% 44% programs School-related websites 44% 46% 46% 41% 42% Q: Which of the following resources have you used in the process of researching a graduate business education? Select all that apply. 24
Career goals Career goals sorted by Top -7 Overall Overall MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International 38% 55% More than 40 percent of Get a raise/salary increase 37% 25% 35% international candidates 35% 46% report their career goal to Manage people 37% 26% 26% be working outside their 35% country of citizenship. 44% Obtain a senior level position 38% 25% In contrast, more than 26% 33% half of domestic MBA 24% Work for a company where I can travel internationally 30% 37% candidates report their 40% 32% career goal as getting 37% Manage projects 31% 30% salary increase/ 31% 30% raise (55%). 38% Obtain an executive level position 32% 24% 23% 30% 11% Work outside my country of citizenship 43% 17% 41% Q. Which of the following do you expect to do after you complete a graduate business program? Select all that apply. 25
Industries of interest Preferred Industries sorted by Top -7 Overall Overall MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International Overall, Consulting and 42% 48% Financial services are the Consulting services 52% 41% 53% top-two industries of 31% 39% interest for GME Financial services 36% 44% 48% candidates. MBA- 37% 40% International candidates Technology 45% 28% 29% prefer Technology (45%) 24% 30% over Financial services Investment banking and asset management 32% 24% 38% (36%), possibly due to 17% 20% higher expectations of Consumer products 23% 21% 21% future employability and 16% 17% visa potential. Media/Entertainment 15% 16% 16% 16% 15% Government 15% 18% 15% Q. In which industry would you prefer to be employed upon completion of a graduate business program? Select all that apply. 26
Job functions of interest Preferred Job Functions sorted by Top -7 Overall Overall MBA-Domestic MBA-International Business Master's-Domestic Business Master's-International 51% 47% Consulting 54% 43% International MBA 57% 49% candidates are more 49% Strategy 33% 59% likely to report interest in 44% 42% working in Strategy 47% General management 27% 50% (59%) than domestic 32% 35% candidates (49%). 27% Finance/accounting 29% Business master’s 48% 44% candidates report a 27% Marketing/advertising/brand management 28% 27% higher interest in 23% 28% Finance/Accounting. 23% 22% Sales/business development 27% 20% 23% 20% 29% Operations/logistics 20% 14% 15% Q. In what job function would you prefer to be employed upon completion of a graduate business program? Select all that apply. 27
Appendix A: Analyses by Program Type The following section focuses on individuals planning to enroll in a GME program in 2021 and summarizes the variations by preferred program types. Programs reported in this section include: • Full-Time Two-Year • Master of Accounting MBA • Master of Data • Full-Time One-Year Analytics MBA • Master of Finance • Part Time MBA • Master of International • Flexible MBA Management • Executive MBA • Master in Management • Online MBA • Master of Marketing Back to Table of Contents 28
Full-Time Two-Year MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Get a raise/salary increase 42% Male 60% Gender Overall Domestic-Male Manage people 39% Female 40% Domestic-Female International-Male Obtain a senior level position 36% International-Female Get a job with a different 34% under 24 28% company 73% Age Manage projects 33% 24 to 30 61% 64% I am not changing my original Industries of Interest (Top-5) ** 31 and older 11% 58% plans 82% Consulting services 49% 80% Undergraduate Business/Economics 48% Technology 39% Major ** Humanities/Soc. Sci. 21% Financial services 36% 14% Investment banking and STEM 41% 19% 31% asset management I am more willing to consider 22% Media/Entertainment 19% online learning 9% Top Preferred Study Destination (Top-5) 10% Functions of Interest (Top-5) ** United States 66% Consulting 52% Canada 11% 17% 23% Strategy 51% United Kingdom 6% I am more willing to consider a 27% General management 46% business school closer to home India 3% 12% Finance/accounting 34% 11% Australia 2% Marketing/advertising/brand 28% management * N = 515 ** May add up to more than 100 percent due to multiple selections. 29
Full-Time One-Year MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Obtain a senior level position 45% Male 58% Gender Overall Domestic-Male Get a raise/salary increase 45% Female 42% Domestic-Female International-Male Manage people 40% International-Female Work for a company where I 37% under 24 21% can travel internationally Age 63% Work outside my country of 24 to 30 36% 54% citizenship 48% 31 and older I am not changing my original 25% 52% plans Industries of Interest (Top-5) ** 74% 63% Consulting services 53% Undergraduate Business/Economics 49% Major ** Technology 45% Humanities/Soc. Sci. 17% 15% Financial services 37% STEM 43% 18% Investment banking and I am more willing to consider 31% asset management 29% online learning Consumer products 25% 11% Preferred Study Destination (Top-5) 13% United States 34% Functions of Interest (Top-5) ** United Kingdom 17% 24% Strategy 61% 36% Canada 14% I am more willing to consider a Consulting 58% 35% business school closer to home France 10% 17% General management 49% 22% Spain 5% Finance/accounting 29% Marketing/advertising/brand 28% * N = 537 management ** May add up to more than 100 percent due to multiple selections. 30
Part-Time MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Male 58% Get a raise/salary increase 53% Gender Overall Domestic-Male Female 41% Obtain a senior level position 47% Domestic-Female International-Male International-Female Manage people 46% under 24 12% Get a promotion 42% Age 50% 24 to 30 51% 52% Obtain an executive level position 40% 31 and older I am not changing my original 37% 41% plans 70% Industries of Interest (Top-7) ** 40% Undergraduate Business/Economics 38% Technology 43% Major ** Consulting services 35% Humanities/Soc. Sci. 18% 38% Financial services 25% STEM 56% 40% Consumer products 18% I am more willing to consider 41% Petroleum/Energy 17% online learning Preferred Study Destination (Top-5) 10% Pharma/BioT/Healthcare products 17% 60% Manufacturing 17% United States 46% Functions of Interest (Top-5) ** Canada 20% 27% 38% Strategy 55% Germany 6% I am more willing to consider a 19% General management 47% business school closer to home South Africa 6% 20% Consulting 39% 0% Singapore 5% Operations/logistics 36% * N = 103 Sales/business development 26% ** May add up to more than 100 percent due to multiple selections. 31
Flexible MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Preferred Study Destination Post-GME Career Goals (Top-5) ** Male 54% Gender Manage people 46% Overall Domestic-Male Female 46% Get a raise/salary increase 44% Domestic-Female International-Male Manage projects 40% International-Female Get a promotion 33% under 24 27% 51% Age Obtain a senior level position 33% 24 to 30 44% 52% I am not changing my original 31 and older 29% 38% plans Industries of Interest (Top-5) ** 69% 60% Technology 32% Undergraduate Business/Economics 53% Consulting services 27% Major ** Humanities/Soc. Sci. 23% 33% Financial services 27% STEM 31% 24% Investment banking and I am more willing to consider 24% asset management 50% online learning Manufacturing 24% Preferred Study Destination (Top-6) 23% 20% United States 52% Functions of Interest (Top-5) ** Canada 17% Strategy 48% 25% France 5% 38% General management 46% I am more willing to consider a United Kingdom 5% 25% business school closer to home Consulting 35% 8% Singapore 3% Marketing/advertising/brand 20% 27% management Afghanistan 3% Operations/logistics 21% * N = 63 ** May add up to more than 100 percent due to multiple selections. 32
Executive MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Male 73% Obtain an executive level position 58% Gender Overall Domestic-Male Female Obtain a senior level position 45% 25% Domestic-Female International-Male Manage people 41% International-Female Get a raise/salary increase 40% under 24 4% 55% Age Become CEO of a company 40% 24 to 30 30% 33% I am not changing my original 31 and older 66% 63% Industries of Interest (Top-6) ** plans 69% Technology 48% 67% Undergraduate Business/Economics 33% Consulting services 41% Major ** Petroleum/Energy 26% Humanities/Soc. Sci. 14% 27% Financial services 24% STEM 58% 27% Consumer products 23% I am more willing to consider 37% Manufacturing 23% online learning 23% Preferred Study Destination (Top-6) 0% Functions of Interest (Top-6) ** United States 46% General management 64% United Kingdom 13% 27% Strategy 52% Canada 12% 43% I am more willing to consider a Consulting 43% India 10% 26% business school closer to home 11% Operations/logistics 33% Italy 3% 33% Information technology/data science 26% Singapore 3% Sales/business development 26% * N = 91 ** May add up to more than 100 percent due to multiple selections. 33
Online MBA Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Male 56% Get a raise/salary increase 63% Gender Overall Domestic-Male Female 44% Manage people 47% Domestic-Female International-Male Obtain a senior level position 41% International-Female Change job under 24 15% 40% functions/occupation 44% Age 24 to 30 35% Get a promotion 40% 57% I am not changing my original 31 and older 51% 37% plans 38% Industries of Interest (Top-7) ** 13% Technology 41% Undergraduate Business/Economics 47% Major ** Pharma/BioT/Healthcare products 23% Humanities/Soc. Sci. 29% Financial services 23% 53% Consulting services 22% STEM 37% 46% I am more willing to consider Petroleum/Energy 17% 56% Government 17% online learning Preferred Study Destination (Top-5) 50% Manufacturing 17% 75% United States 69% Functions of Interest (Top-5) ** United Kingdom 8% 15% General management 53% 14% Canada 4% I am more willing to consider a Strategy 36% 15% business school closer to home Marketing/advertising/brand Australia 3% 13% 33% management 25% Operations/logistics 31% France 3% Sales/business development 28% * N = 81 34 ** May add up to more than 100 percent due to multiple selections.
Master of Accounting Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Obtain an entry level position 45% Male 39% Gender Overall Domestic-Male Get a raise/salary increase 33% Female 61% Domestic-Female International-Male Obtain a midlevel position 31% International-Female Work for a company where I can under 24 65% 29% travel internationally Age 44% 24 to 30 24% Work in my country of citizenship 27% 61% 31 and older 11% I am not changing my original 32% plans Industries of Interest (Top-5) ** 64% 33% Undergraduate Business/Economics 89% Financial services 65% Major ** Humanities/Soc. Sci. 4% Consulting services 44% 36% STEM 7% Government 25% 39% I am more willing to consider Investment banking and 54% asset management 24% online learning Preferred Study Destination (Top-7) 18% Professional services 17% 17% United States 68% Functions of Interest (Top-5) ** Canada 8% 32% United Kingdom 4% Finance/accounting 92% 28% Hong Kong 4% I am more willing to consider a Consulting 39% 32% China business school closer to home 3% 18% General management 16% Singapore 3% 44% Information… 11% Sweden 3% Strategy 11% * N = 75 35 ** May add up to more than 100 percent due to multiple selections.
Master of Data Analytics Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Manage projects 34% Male 52% Gender Overall Domestic-Male Work outside my country of 34% Female 48% Domestic-Female International-Male citizenship Work for a company where I can International-Female 32% travel internationally Get a raise/salary increase 32% under 24 62% 55% Live outside my country of Age 30% 24 to 30 28% 41% citizenship I am not changing my original 31 and older 9% 48% plans Industries of Interest (Top-5) ** 61% 61% Consulting services 58% Undergraduate Business/Economics 73% Major ** Technology 50% Humanities/Soc. Sci. 11% 22% Financial services 44% STEM 33% 34% I am more willing to consider Consumer products 25% 30% online learning Investment banking and asset management 21% 11% Preferred Study Destination (Top-5) 22% Functions of Interest (Top-5) ** United States 42% 30% Information technology/data science 63% Canada 15% 38% Consulting 57% France 9% I am more willing to consider a 39% Strategy 45% business school closer to home United Kingdom 7% 30% Finance/accounting 29% 20% Singapore 6% General management 23% * N = 148 36 ** May add up to more than 100 percent due to multiple selections.
Master of Finance Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Work outside my country of Male 63% 30% Gender citizenship Overall Domestic-Male Female 37% Obtain an entry level position 29% Domestic-Female International-Male Live outside my country of International-Female 27% citizenship under 24 79% Obtain a midlevel position 25% Age 66% 24 to 30 15% Work for a company where I 25% 58% can travel internationally 31 and older I am not changing my original 6% 59% plans 71% Industries of Interest (Top-5) ** 64% Undergraduate Business/Economics Financial services 83% 85% Major ** Investment banking and Humanities/Soc. Sci. 7% 68% asset management 19% STEM 19% Consulting services 44% 27% I am more willing to consider 29% Real Estate 17% online learning Preferred Study Destination (Top-5) 15% Technology 15% 19% United Kingdom 31% Functions of Interest (Top-5) ** United States 22% 19% Finance/accounting 90% 27% France 11% I am more willing to consider a Consulting 55% 24% business school closer to home Canada 8% 19% Strategy 30% 16% General management 13% Germany 4% Sales/business development 12% * N = 246 37 ** May add up to more than 100 percent due to multiple selections.
Master in International Management Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Work for a company where I Male 47% 57% Gender can travel internationally Overall Domestic-Male Female 53% Manage projects 52% Domestic-Female International-Male International-Female Manage people 41% under 24 81% Work outside my country of 40% citizenship Age 69% 24 to 30 16% Live outside my country of 60% 36% citizenship 31 and older 3% I am not changing my original 60% plans 64% Industries of Interest (Top-5) ** 77% Consulting services Undergraduate Business/Economics 63% 73% Major ** Humanities/Soc. Sci. 11% Technology 36% 13% STEM 22% Consumer products 27% 20% I am more willing to consider Investment banking and 20% 27% online learning asset management Preferred Study Destination (Top-6) 15% Financial services 24% 8% France 23% Functions of Interest (Top-5) ** United Kingdom 13% 23% Consulting 61% Canada 9% 40% I am more willing to consider a Strategy 59% United States 8% 20% business school closer to home 31% General management 58% Netherlands 6% 13% Sales/business development 41% Switzerland 6% Marketing/advertising/brand * N = 95 ** May add up to more than 100 percent due to multiple selections. management 39% 38
Master in Management Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-5) ** Preferred Study Destination Work for a company where I Male 52% 56% Gender can travel internationally Overall Domestic-Male Work outside my country of Female 44% 47% Domestic-Female International-Male citizenship Live outside my country of International-Female 39% citizenship under 24 85% Manage projects 37% Age 71% 24 to 30 12% Manage people 36% 53% 31 and older 3% I am not changing my original 46% plans 81% Industries of Interest (Top-5) ** 72% Undergraduate Business/Economics 64% Consulting services 63% Major ** Humanities/Soc. Sci. 12% Financial services 33% 12% STEM 29% 27% Technology 33% I am more willing to consider Investment banking and 15% 33% online learning asset management 8% Preferred Study Destination (Top-5) Consumer products 28% 12% United Kingdom 25% Functions of Interest (Top-5) ** France 23% 22% Consulting 63% 33% Germany 10% I am more willing to consider a Strategy 57% 38% business school closer to home United States 10% 15% General management 49% 21% Marketing/advertising/brand Netherlands 6% 39% management * N = 126 Finance/accounting 29% 39 ** May add up to more than 100 percent due to multiple selections.
Master of Marketing Preferred program type Demographic Group Impact of COVID-19 **, By Gender and Post-GME Career Goals (Top-6) ** Preferred Study Destination Manage projects 34% Male 23% Gender Live outside my country of Overall Domestic-Male 31% Female 78% citizenship Domestic-Female International-Male Work for a company where I 30% can travel internationally International-Female under 24 73% Obtain a senior level position 30% Age 61% Work outside my country of 24 to 30 23% 29% 20% citizenship 31 and older 5% I am not changing my original 59% Obtain a midlevel position 29% plans 54% 68% Industries of Interest (Top-5) ** Undergraduate Business/Economics 82% Major ** Media and Communication 59% Humanities/Soc. Sci. 23% 23% Consumer products 54% STEM 10% 60% Media/Entertainment 48% I am more willing to consider 18% online learning Consulting services 40% Preferred Study Destination (Top-5) 31% Technology 28% 18% United States 16% Functions of Interest (Top-5) ** 25% Marketing/advertising/brand United Kingdom 14% 90% management 0% Netherlands 13% I am more willing to consider a Sales/business development 39% 24% business school closer to home Canada 10% 38% Strategy 33% 25% France 10% Consulting 31% * N = 80 General management 21% 40 ** May add up to more than 100 percent due to multiple selections.
Appendix B: Analyses by Candidate Citizenship The following section focuses on individuals planning to enroll in a GME program in 2021 and summarizes the variations by candidate citizenship. Countries/Regions reported in this section include: • Canada • Nigeria • France • United Kingdom • Germany • United States • Greater China • United States – • India Underrepresented Populations (URPs) • Italy Back to Table of Contents 41
Canada Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5)** Male 52% Gender Overall Male Female Get a raise/salary increase 45% Female 47% Manage people 44% 45% Obtain a senior level position I am not changing my 41% 47% original plans under 24 31% 43% Manage projects 39% Age 24 to 30 45% Obtain an executive level position 39% 35% I am more willing to 32% 31 and older 24% consider online learning 38% Industries of Interest (Top-5)** I am more willing to 34% Consulting services 41% Undergraduate Business/Economics 46% consider a business 34% school closer to home Major ** 33% Financial services 37% Humanities/Soc. Sci. 16% Technology 34% STEM 46% Investment banking and asset Preferred Program Types (Top-7) 29% management Government 23% Preferred Study Destination (Top-5) Full-time 1 YR MBA 28% Part-time MBA 14% Functions of Interest (Top-5)** Canada 69% Full-time 2 YR MBA 12% United States 16% Strategy 48% Flexible MBA 7% United Kingdom 6% General management 46% Master of finance 7% Consulting 44% France 3% Executive MBA 5% Finance/accounting 32% Spain 1% Master of data analytics 5% Operations/logistics 31% * N = 147 ** May add up to more than 100 percent due to multiple selections. 42
France Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-7) ** Male 56% Work for a company where I can travel Gender Overall Male Female 51% internationally Female 44% Manage projects 41% 62% I am not changing my 62% Manage people 39% original plans under 24 67% 63% Obtain an executive level position 39% Age 24 to 30 23% 23% I am more willing to Live outside my country of citizenship 34% 15% 31 and older 10% consider online learning 33% Get a raise/salary increase 34% I am more willing to 26% Become CEO of a company 34% Undergraduate Business/Economics 71% consider a business 29% Major ** school closer to home 22% Industries of Interest (Top-6) ** Humanities/Soc. Sci. 10% Consulting services 41% STEM 31% Preferred Program Types (Top-10) Technology 39% Investment banking and asset management 34% Preferred Study Destination (Top-5) Full-time 1 YR MBA 26% Financial services 26% Master of finance 18% France 57% Master of management Pharma/BioT/Healthcare products 16% 11% Master of international… 10% Government 16% United Kingdom 10% Master of data analytics 10% Functions of Interest (Top-5) ** United States 8% Flexible MBA 5% General management 48% Switzerland 7% Master of project management 3% Strategy 48% Other business master degree 3% Canada 5% Consulting 46% Part-time MBA 3% Full-time 2 YR MBA 3% Finance/accounting 33% * N = 61 ** May add up to more than 100 percent due to multiple selections. Sales/business development 30% 43
Germany Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5)** Male 69% Gender Overall Male Female Manage people 37% Female 31% Manage projects 37% 62% I am not changing my Work for a company where I can 66% 37% original plans travel internationally under 24 74% 55% Work outside my country of citizenship 32% Age 24 to 30 21% 17% I am more willing to Live outside my country of citizenship 30% 14% 31 and older 5% consider online learning 24% Industries of Interest (Top-5)** I am more willing to 24% Undergraduate Business/Economics 81% consider a business 24% Consulting services 56% Major ** school closer to home 24% Humanities/Soc. Sci. 14% Technology 43% STEM 20% Investment banking and 33% asset management Preferred Program Types (Top-7) Financial services 31% Preferred Study Destination (Top-5) Master of finance 15% Consumer products 23% Germany 27% Full-time 1 YR MBA 12% Master of international France 12% 11% Functions of Interest (Top-5)** management Master of management 11% Consulting 59% United Kingdom 10% Full-time 2 YR MBA 10% Strategy 54% United States 10% Part-time MBA 6% General management 34% Spain 7% Finance/accounting 31% Master of marketing 5% Sales/business development 31% * N = 111 ** May add up to more than 100 percent due to multiple selections. 44
Greater China# Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5) ** Male 34% Gender Overall Male Female Get a raise/salary increase 31% Female 66% Obtain a senior level position 25% 56% I am not changing my Manage projects 23% 54% original plans under 24 66% 58% Obtain a midlevel position 21% Age 24 to 30 24% 16% Obtain an executive level position 19% I am more willing to 27% 31 and older 10% consider online learning 11% Industries of Interest (Top-5) ** I am more willing to 31% Financial services 52% Undergraduate Business/Economics 77% consider a business 30% Major ** school closer to home 31% Consulting services 46% Humanities/Soc. Sci. 19% Investment banking and 42% STEM 15% asset management Preferred Program Types (Top-7) Technology 23% Preferred Study Destination (Top-6) Master of finance 20% Consumer products 20% United Kingdom 27% Full-time 1 YR MBA 18% Functions of Interest (Top-5) ** United States 21% Full-time 2 YR MBA 12% Finance/accounting 51% Singapore 12% Master of data analytics 11% Consulting 50% Canada 9% Master of marketing 9% Marketing/advertising/brand 36% management China 7% Master of accounting 7% Strategy 35% Hong Kong 7% Master of management 5% General management 34% * N = 191 #Greater China region includes Mainland China, Hong Kong, Taiwan and Macao ** May add up to more than 100 percent due to multiple selections. 45
India Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5)** Male 65% Gender Overall Male Female Work for a company where I can travel 44% internationally Female 35% Work outside my country of citizenship 41% 76% I am not changing my 74% original plans Obtain a senior level position 40% under 24 45% 81% Age 24 to 30 42% Live outside my country of citizenship 38% 5% I am more willing to 5% 31 and older 13% consider online learning Obtain an executive level position 36% 4% I am more willing to 21% Industries of Interest (Top-5)** Undergraduate Business/Economics 33% consider a business 23% school closer to home Major ** 19% Consulting services 57% Humanities/Soc. Sci. 6% Technology 48% STEM 67% Preferred Program Types (Top-7) Financial services 39% Full-time 1 YR MBA 29% Investment banking and Preferred Study Destination (Top-5) asset management 35% Full-time MBA 2 YR MBA 29% Consumer products 27% United States 32% Master of management 9% India 19% Functions of Interest (Top-5)** Executive MBA 5% United Kingdom 16% Consulting 62% Master of finance 5% Canada 13% Strategy 61% One-year PGP program 4% France General management 53% 7% Master of data analytics 4% Marketing/advertising/brand 39% management * N = 330 ** May add up to more than 100 percent due to multiple selections. Finance/accounting 33% 46
Italy Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5)** Male 56% Gender Work for a company where I Overall Male Female 45% can travel internationally Female 44% Work outside my country of 39% citizenship 66% I am not changing my 76% Manage people 33% original plans under 24 73% 53% Live outside my country of Age 33% 24 to 30 16% citizenship 14% I am more willing to 12% Become CEO of a company 33% 31 and older 11% consider online learning 16% I am more willing to 27% Industries of Interest (Top-5) ** Undergraduate Business/Economics 80% consider a business 19% Major ** school closer to home 38% Consulting services 35% Humanities/Soc. Sci. 11% Financial services 31% STEM 22% Preferred Program Types (Top-7) Investment banking and 23% asset management Master of finance 24% Preferred Study Destination (Top-7) Technology 20% Master of international 17% Consumer products 17% management Italy 26% France 15% Full-time 1 YR MBA 12% Functions of Interest (Top-5) ** United States 11% Master of management 8% United Kingdom 9% Consulting 48% Master of marketing 7% Netherlands 5% Strategy 41% Spain 5% Executive MBA 7% General management 39% Switzerland 5% Full-time 2 YR MBA 7% Sales/business development 36% Finance/accounting 32% * N = 75 ** May add up to more than 100 percent due to multiple selections. 47
Nigeria Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5) ** Work outside my country of Male 50% Gender 50% Overall Male Female citizenship Female 50% Manage people 47% 76% Work for a company where I I am not changing my 42% 73% can travel internationally original plans under 24 15% 79% Manage projects 38% Age 24 to 30 48% 14% I am more willing to Obtain a senior level position 38% 17% 31 and older 37% consider online learning 10% Industries of Interest (Top-6) ** I am more willing to 12% Consulting services 55% Undergraduate Business/Economics 51% consider a business 13% Major ** school closer to home 10% Financial services 48% Humanities/Soc. Sci. 19% Technology 45% STEM 42% Preferred Program Types (Top-7) Investment banking and asset 45% Full-time 2 YR MBA 32% management Preferred Study Destination (Top-5) Petroleum/Energy 35% Full-time 1 YR MBA 31% Master of finance 8% Government 35% Canada 44% Master of human resource 5% United States 29% Functions of Interest (Top-5) ** Master of health administration 3% United Kingdom 12% General management 60% Flexible MBA 3% Consulting 58% France 5% Other programs * 17% Strategy 58% Nigeria 5% * 1.7% each for Master of engineering management, Master of entrepreneurship, Master of business information technology, Hybrid MBA, PhD, Joint/dual degree, Master of accounting, Master of international Finance/accounting 47% management, Part-time MBA and Master of Data Analytics Sales/business development 42% * N = 60 ** May add up to more than 100 percent due to multiple selections. 48
United States Country of citizenship Demographic Group Impact of COVID-19 **, By Gender Post-GME Career Goals (Top-5)** Male 55% Overall Male Female Get a raise/salary increase 53% Gender Obtain a senior level position 41% Female 45% 56% Manage people 40% I am not changing my 59% original plans 53% Get a job with a different company 38% under 24 30% Change job functions/occupation 37% Age 32% 24 to 30 49% I am more willing to 28% consider online learning 31 and older 21% 36% Industries of Interest (Top-5)** I am more willing to 23% Consulting services 41% consider a business 22% Undergraduate Business/Economics 56% school closer to home 24% Technology 37% Major ** Humanities/Soc. Sci. 25% Financial services 35% Preferred Program Types (Top-7) Investment banking and asset STEM 31% management 21% Full-time 2 YR MBA 29% Media/Entertainment 19% Preferred Study Destination (Top-5) Full-time 1 YR MBA 16% Functions of Interest (Top-5)** United States 89% Online MBA 8% United Kingdom 4% Consulting 44% Master of accounting 7% Canada 2% Strategy 41% Part-time MBA 6% France 1% General management 35% Master of data analytics 6% Spain 1% Finance/accounting 35% Joint/dual degree program 5% Marketing/advertising/brand 24% management * N = 662 ** May add up to more than 100 percent due to multiple selections. 49
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