2016 MBA Applicant Survey FOR PDF - AIGACaigac.org/wp-content/uploads/2016/06/2016-MBA... · MBA...

2016MBAApplicantSurveyProgramConsideration

ReasonsforApplying

TestPrep/Admission ConsultantEngagement

Expectations

BackgroundInformation

• 65%male,35%female• 35%areU.S.citizens,61%international• 44%liveintheU.S.• 56%livein83othercountriesrepresented• 19%alreadyhaveamaster’sdegree

Surveyopendates:February15throughMay2,2016

Totalrespondents:3,586

FindingsreflectapplicantswhoplanonenrollinginJan2017orsooner,andwhoappliedtoatleastoneschool(N=1,114)

Executivesummary

• MBAapplicantsremainasoptimisticasinpastyearsabouttheirpost-MBAemploymentprospects• ConfidentthatanMBAeducationwouldenablethemtosecureasignificantlyhighersalarypost-MBA• ContinuetofocusonConsulting,Finance/Accounting,&Technology

• Whileoptimisticaboutthefuture,manyMBAapplicantsarerealisticaboutthecompetitivenessoftheprocess• Turntomultiplesourcesforsupportwithapplicationprocess• Friends,admissionsconsultants,&familymemberstoplistofresourcessoughtout• Fewerthan20%ofapplicants“goitalone”

Executivesummary

• Applicantsarealsomindfulofprogramcosts• Declininginterestintwo-yearprogramsreflectsopennesstooptionsperceivedasmorecost-effective• 41%ofrespondentsindicatedthatschoolchoicewaspartlyinfluencedbyaffordability• 21%ofapplicantsreportmodifyinglistoftargetschoolsbasedoncost&accesstofinancialaid• Costappearstoloomlargerinapplicants’mindsthanitdidinthefirstAIGACMBAApplicantSurveyin2009• Netcostofprogramattendancecanbedifficulttoassess,skewingchoicesofwheretoapply

Executivesummary

• Applicantshavesofaradaptedwelltonewerapplicationcomponents• Nearlyhalfofapplicants(49%)saidthevideoessayrepresentedthem“well”or“extremelywell”• Whilenotallapplicantsfeelthatvideoresponsesrepresentthemwell,theformatdoesn’tseemtocreateunduestress• Applicantsappearfairlycomfortablewithgroupexercises;whiletheyarestillonlyemployedbyahandfulofschools,sofar,applicantsindicatetheyarenotoverlychallenging

TheLifeofanMBAApplicantDecidetoapply

Timing/Trigger

Typesofprogramsconsidered

Factorsinselectingschools

Planforcareeroutcomes

Desiredindustriesandfunctions

Predictedsalaryoutcomeandraises

Entrepreneurship

Applyandfind fit

Testtaking

Consultantservices

Videoessays

Lettersofrecommendation

Connectionwithschools

MBAApplicantsareoptimisticaboutthe

future

Short-termcareeroutcomesarecoredriversofthedecisiontoapply

6.4%

6.6%

8.0%

14.5%

36.0%

33.9%

37.0%

43.8%

51.1%

53.4%

55.6%

56.2%

0% 10% 20% 30% 40% 50% 60%

Uncertaintyinfirm

Uncertaintyincurrentindustry

Currenteconomicclimate

PerceptionsIcouldgetadmitted

Experiencenewgeographicregion/city

Getprofessionalcredentials

Deepenexisitingknowledge/skills

Gainasenseofpersonalsatisfaction

Accesstostrongnetwork

Accessjobprospects

Advancemycareer

Acquirenewinformation/skills

Whichfactorshadmostinfluenceondecisiontoapply?

Source:2016MBAApplicantSurvey,n=1143(thoseintending tostartbyJanuary2017)

11%

21%

16%

8% 8%5% 5%

8%

19%

53%

33% 33%

24%

11% 10% 11% 9% 9%

0%

10%

20%

30%

40%

50%

60%

Whatindustrydoyoucurrently/hopetoworkin?

Current Intended

Applicantscontinuetodesiretraditionalpost-MBAroles


Weneedtomanageapplicants’careerexpectations• In2007,consultants represented26%ofMBAgraduatingclassesandby2013,thatgrewto29%*• Littleroomlefttogrow;basedonlastdownturn,totalhiresmayfall

• Finance hasfacedgreaterlong-termpressure• 43%ofgraduatesfromtopMBAprogramswentintofinancein2007• By2013,29%ofgraduatesfromtopMBAprogramswentintofinance• Consistentwithresultsatmosttopbusinessschools

• Technology hasgrownconsistentlysince2007• 8%ofgraduatesfromtopMBAprogramswentintotechnologyin2007,by2013,17%ofgraduateshadenteredtechnology

Source:(*)TheEconomist (http://www.economist.com/news/business/21623673-graduates-worlds- leading-business-schools-investment-banking-out-and-consulting).Represents averagedatafromBooth,Wharton, HBS,LBSandINSEAD.

Nearlyhalfofapplicantsexpectasalaryincreaseof>50%within6monthsofgraduation

1%

6%8%

11%14%

10% 9%

17%

24%

1.0%

7.0% 7.0%

12.0% 12.0% 11.0% 11.0%

14.0%

27.0%

0%

5%

10%

15%

20%

25%

30%

Decrease Stayaboutthesame

Increase1-10% Increase11-20%

Increase21-30%

Increase31-40%

Increase41-50%

Increase51-100%

Increasemorethan100%(morethandouble)

WhateffectdoyouexpectcompletinganMBAtohaveonyourearningspotentialwithinthefirstsixmonthsofgraduating?

2016

2015


2016MBAapplicantsarerealisticaboutthe

competitivenessoftheprocess

Manyapplicantsseekoutmultiplesourcesofsupport,~20%“goitalone”

3%

9%

13%

17%

17%

24%

25%

30%

39%

44%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Other

Professor(s)

Mentor(s)notlisted

Testprep instructor/tutor

Noone

Coworker(s)

Schoolalum

Familymember

AdmissionsConsultant

Friend(s)

Whohelpedyouwiththeapplicationprocess?(selectall)


Admissionsconsultantshelpedapplicantstoevaluatechoices

4%

5%

2%

9%

15%

16%

27%

29%

32%

Other

Takepost-graduatecourseworkbeforeapplying

Getmoreworkexperiencebeforeapplying

ApplytofewerschoolsthanIhadplanned

Applytolower-rankedschoolsthanIhadplanned

Applytohigher-rankedschoolsthanIhadplanned

ApplytomoreschoolsthanIhadplanned

ApplytoaschoolthatIhadnotpreviouslyconsidered

TrytoearnahigherGMATscorebeforeapplying

Howdidyouradmissionsconsultantinfluenceschoolchoice?


Applicantsarealsomindfulofprogramcosts

6%

6%

22%

27%

28%

30%

32%

35%

36%

38%

46%

48%

74%

AdmissionsConsultant's Advice

LanguageofInstruction

Likelihood ofAcceptance

AcademicFocus

QualityofFaculty

Programcost/Availability ofscholarships

Globalprogram

Alumninetwork

CareerPlacement Statistics

SchoolCulture

City/geographic location

ImpactonCareer

Reputation (ranking)

Whichfactorshadthemostinfluenceonspecificschoolchoice?(selectall)

30%ofapplicantsconsidernetcostwhenselectingprograms


Affordabilityisasignificantfactorinschoolselection


18%

32%

21%

41%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

None

AfterIwasaccepted

Duringtheprocess

BeforeIstarted

Whendidyouconsiderhowtofinanceyourdegree?(Selectallthatapply)

69%

40%

15%7%

11%7% 8%

3%

89%

33%

12%7% 8%

3%

12%

0%0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Full-timeMBA,two

yearsormore

Full-timeMBA,lessthantwoyears

Part-timeMBA

FlexibleMBA(full-timeandpart-timeoptions)

ExecutiveMBA

Online/DLMBA

Joint-degreeprogram

OtherMBA

WhattypesofMBAprogramshaveyouconsidered?(selectall)

2016

2009

Aresultisthatrespondentsareincreasinglyopentoprogramsotherthantraditionaltwo-yearMBAs


Applicantshighlightedimportanceoffinancialaidindecisionmaking

“Theschool'sabilitytogivefinancialaidandmeritfellowshipshelpedmakeanMBAmoreaffordableandthereforemydecisionmakingeasier.” – 2016Applicant

Applicantsseemtobeadaptingwelltonewerapplicationcomponents

Applicantsstillfindtestsandessaystobethemostchallenging

61%

46%

20% 18% 16%

3% 2%0%

10%

20%

30%

40%

50%

60%

70%

StandardizedTests(GMAT,

GRE,TOEFL,etc.)

WrittenEssays Interview(inpersonoronline)

LettersofRecommendation

Recordedvideoresponse

Groupexercise Other

Whichapplicationcomponents didyoufind tobeespeciallychallenging?(Selectall)


Applicantsratedvideoresponsesaslesschallengingthantestsandessays

51%58%

51%52%45% 45%

35% 36%31%

0%

10%

20%

30%

40%

50%

60%

70%

Kellogg Yale McCombs

ChartTitle

GMAT/GRE Essays VideoResponses

Whichapplicationcomponents didyoufind tobeespeciallychallenging?(Selectall)

Source:2016MBAApplicantSurvey,n=198(Kellogg),n=120(Yale),n=89(McCombs)

Atippingpointinthepercentageofapplicantscompletingvideoresponses

35%

63%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Didyoucompleteoneormoreapplicationswithavideoessaycomponent?

Yes No Notsure“Ithinkthevideocomponentsareagoodwayforschoolstogetapreliminaryviewintotheapplicantbeforeinvitingthemtointerview.”-- 2016Applicant

“It'sagreatadditiontotheapplicationprocess.Avideocantellsomethingbeyondtheessays,whichisverybeneficialtotheadcom.Itisthelogicalutilizationofthelatesttechnology.– 2016Applicant

“Althoughitisabitnervewrecking,thevideoessaysareagreatwayforcandidatestoshowadmissionscommitteestheircommunicationskillsandtoputapersonaltouchtotheapplication.Itwasaveryinterestingexerciseforme.-- 2016Applicant

Manyapplicantslikedvideo interviews


Videosdon’tgeneratealotofstressforapplicants,butstillroomforimprovementwiththisnewmedium


12% 3%

53%

42%

0%

10%

20%

30%

40%

50%

60%

70%

Women Men

2015

ExtremelyWell VeryWell

9% 9%

38%44%

0%

10%

20%

30%

40%

50%

60%

Women Men

2016

ExtremelyWell VeryWell

2.76

2.76

2.76

2.77

2.78

2.78

2.78

2.83

2.85

2.87

2.89

2.99

UniversityofTexas- Austin(McCombs)

Oxford(Said)

INSEAD

UniversityofToronto(Rotman)

CarnegieMellon(Tepper)

IESE

UniversityofChicago (Booth)

Cornell(Johnson)

Duke(Fuqua)

Northwestern(Kellogg)

IE

Dartmouth(Tuck)

Howwelldideachoftheschoolsgettoknowyouthrough theadmissionsprocess?*”

Top10SchoolsWhoGottoKnowApplicantsWell

*Means(weightedtoequalizeadmissionsrates)onascalefrom1(“Notatall”)to4(“Extremelywell”)

Source:2016MBAApplicantSurvey,n=1114(those intending tostartbyJanuary2017)

Candidatesexpecttheschoolstobeinterestedinthem

“TheaccessibilityofAdmissionOfficerswaskeytomydecision.”

“Additionally, schoolsthatwereveryresponsivewithreturningemailsandlinkingmewithcurrentstudentsweregenerallyhigheronmylistthanothers.”

“GeorgiaTechtookthetimetoreachouttomeduringthewholeadmissionsprocess.Theindividualattention fromthebeginning showedacommitmenttomeothersschoolslacked.”

Source:2016MBAApplicantSurvey,n=1114(those intending tostartbyJanuary2017)

MediaInquiries

[email protected]

Twitter:@OfficialAIGAC

2016 MBA Applicant Survey FOR PDF - AIGACaigac.org/wp-content/uploads/2016/06/2016-MBA... · MBA...

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