Why do you want to sign up for an MBA program? This question was put to nearly 2000 applicants during a web-based survey by the Association of International Graduate Admissions Consultants (AIGAC).
Overturning the common perception that the degree was all about power and money, 57% of the respondents stated that they wanted to acquire new skills and knowledge about business. Better job prospects, including the opportunity to transition into a new career with the degree, was cited by 49%. Access to a strong network and the opportunity to advance a career within the same industry drew 48% respondents.
While about 38% of the candidates stated that they look at a salary increase, 35% others wanted an MBA to make a positive difference in the world and to improve the society.
The consultant is often a candidate’s first source of information and plays a role in setting expectations for the admissions process. They value the advice from the consultant on preparing the best application
The web-based 2018 MBA Applicant Survey, released on June 15, drew responses from about 1,377 candidates who had recently applied to at least one business school. They were probed on matters ranging from the reason for joining an MBA program to how they were treated by the schools’ admission committees and their experience with admission consultants.
Nearly 2,000 applicants completed the survey between March 13 and April 8, 2018. The majority were male (62%) and 42% live in the US, AIGAC said.
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Where or how do they get the information about the schools, programs and other details? For most of them, the search starts online. More than 80% of surveyed applicants sought information from the school websites, followed by online information sessions, current student referrals and alumni referrals. The admissions officer/director/team rounds out the top five most valuable school-specific resources.
LinkedIn was the most cited social media channel for candidates, followed by YouTube and Facebook. Interestingly, Quora is more popular than Instagram or Twitter.
The survey found that the applicants rated online communities/forums as the most valuable independent resources, followed by MBA rankings and family/friends/work colleagues. Admissions consultants and their websites/blogs were also included in the top five.
What do they expect from the schools? Well, for status updates throughout the application process. “The application process is stressful enough already,” they say.
Secondly, greater transparency around waitlist decisions instead of making the candidates feel as if the admission committee has all but forgot about them.
They also need feedback following an unsuccessful application. “I just want to know if I came close, or if I shouldn’t bother applying again,” says one of the survey respondents.
What is the role of the admission consultant from the applicant’s perspective? The consultant is often a candidate’s first source of information and plays a role in setting expectations for the admissions process. They value the advice from the consultant on preparing the best application. They also look to consultants to gain a sense of satisfaction and achievement.
The seven schools ranked highest in getting to know applicants well were: Cornell SC Johnson Graduate School of Management, UVA Darden School of Business, Tuck School of Business at Dartmouth, Carnegie Mellon Tepper School of Business, Emory Goizueta Business School, Duke Fuqua School of Business and Michigan Ross School of Business.(Image Source:Maxpixel.com)
