2016 MBA Applicant Survey FOR PDF - AIGACaigac.org/wp-content/uploads/2016/06/2016-MBA... · MBA...
Transcript of 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
Source:2016MBAApplicantSurvey,n=1040(thoseintending tostartbyJanuary2017)
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
Source:2016MBAApplicantSurvey,n=1040(thoseintending tostartbyJanuary2017)
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)
Source:2016MBAApplicantSurvey,n=1141(thoseintending tostartbyJanuary2017)
Admissionsconsultantshelpedapplicantstoevaluatechoices
4%
5%
2%
9%
15%
16%
27%
29%
32%
Other
Takepost-graduatecourseworkbeforeapplying
Getmoreworkexperiencebeforeapplying
ApplytofewerschoolsthanIhadplanned
Applytolower-rankedschoolsthanIhadplanned
Applytohigher-rankedschoolsthanIhadplanned
ApplytomoreschoolsthanIhadplanned
ApplytoaschoolthatIhadnotpreviouslyconsidered
TrytoearnahigherGMATscorebeforeapplying
Howdidyouradmissionsconsultantinfluenceschoolchoice?
Source:2016MBAApplicantSurvey,n=434(thoseintending tostartbyJanuary2017)
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
Source:2016MBAApplicantSurvey,n=1144(thoseintending tostartbyJanuary2017)
Affordabilityisasignificantfactorinschoolselection
Source:2016MBAApplicantSurvey,n=1143(thoseintending tostartbyJanuary2017)
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
Source:2016MBAApplicantSurvey,n=1144(thoseintending tostartbyJanuary2017)
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)
Source:2016MBAApplicantSurvey,n=1088(thoseintending tostartbyJanuary2017)
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
Source:2016MBAApplicantSurvey,n=1071(thoseintending tostartbyJanuary2017)
Videosdon’tgeneratealotofstressforapplicants,butstillroomforimprovementwiththisnewmedium
Source:2016MBAApplicantSurvey,n=361(thoseintending tostartbyJanuary2017)
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)