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New study of MBA applicants reveals aims and aspirations of future business leaders

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The QS TopMBA.com Applicant Survey 2015 is a global study based on 4,904 applicants to business schools who registered for the QS World MBA Tour over the past year, which reveals the aspirations of the next generation of business leaders.

Career objectives

Consulting is the most popular post-MBA target industry worldwide, on the radar of 45.5% of MBA applicants, followed by Finance & Banking (32.4%). The third most popular sector is Technology (26.9%) which over the past few years developed a healthy appetite for the MBA holders. Digital giants such as Amazon have become leading MBA recruiters. 94.4% of applicants are considering changing industry.

71.9% of applicants see themselves either running their own business, acting as a director in a large company, or as the CEO of a large company, in 10 years’ time.

Despite these ambitious plans, applicants anticipate a shorter working week; 54.8% of respondents plan to work no more than 50 hours per week. The Survey reveals a slight drop in candidates pursuing an MBA to boost their salary compared to 2014 – down from 33% to 30.1%. Though salary expectations are up this year, with the global average now standing at U.S.$114,000.

Study plans

The top 10 study destinations are UNITED STATES, UNITED KINGDOM, CANADA, AUSTRALIA, GERMANY, FRANCE, SPAIN SWITZERLAND, SINGAPORE, and NETHERLANDS. The proportion of candidates basing their choice of study destination on the availability of scholarships/financial aid has risen to 55% globally, second only to international recognition of qualifications.

General management, international management and strategy are the most popular specializations by some distance.

The full-time MBA has declined slightly in popularity (considered by 79.4% of respondents, down from 82.6% in 2014), while nearly one in five applicants is considering an online MBA.

Who are the MBA applicants?

The long-term trend towards older MBA applicants continues, with the global average age standing at 28, moving towards gender parity.

Technology overtakes finance as the most commonly reported pre-MBA sector (12.6% compared to 11.8%).

Nearly two thirds of the global applicant pool are planning to fund their MBA through scholarships – up from 45% in 2008.

Selecting the right MBA

All the applicants surveyed appreciated the value of face-to-face meeting with admission officers of leading business schools as a key step in their selection and decision making process.

Attending the QS World MBA Tour in Tokyo on Sept 3 at the Peninsula Tokyo (opening times 4:30pm – 9:30pm) will offer aspirant MBA students the opportunity to meet the representatives and alumni of over 30 leading business schools including: Cornell University, Maryland -Robert H Smith, Michigan – Ross, Minnesota–Carlson, Claremont Graduate University, George Washington University, Hult, Washington –Olin, UC Irvine, London Business School, INSEAD, HEC Paris, IE Business School, ESADE Business School, Imperial College, The University of Manchester, ESMT, RSM Erasmus, SDA Bocconi and many more.

The event includes school and individual presentations, seminars on how to prepare for the GMAT, career alumni panels and an open fair.

Attendees are eligible to apply for exclusive scholarships for a total value of $ 1.7 million. For more information and to register for free entry, visit www.TopMBA.com/JPToday

© Japan Today

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