Getting Into US Business Schools To Be More Competitive For Indian Students: GMAC President
Admission to US business schools is likely to be more competitive for Indian students because many deferred applications due to COVID-19, said GMAC President.
Domestic applications for the graduate business studies in the United States grew by 29 per cent in the 2020 cycle, despite the COVID-19 pandemic, and admission to US business schools is likely to become more competitive for Indian students in 2021 and 2022.
“The opportunity cost of giving up a job and going to a business school is lowered” and more students applied for admission, says Sangeet Chowfla, President and CEO of GMAC (Graduate Management Admission Council), about the rise in US domestic applications. Mr Chowfla described this as a “classic counter-cyclic growth” in an online interaction with Careers360. Applications and enrolment in business education have grown globally, he said.
The number of US students applying for business programmes in the United States had been declining in previous years.
Despite the decline in the number of Indian students applying for business programmes in the country, registrations for tests like GMAT and NMAT in India have seen a “V-shape recovery”, since May, 2020, Mr Chowfla said.
Getting into B-schools in the US will also be “more competitive” where India is concerned because there is “pent-up demand”. Students who always wanted to go to the US to study but deferred because of the Donald Trump administration’s stand on immigration or COVID-19 are more likely to apply now.
Students who were applying for MBA programmes in December-January would be looking to join in September, or in 2022, as they would be more likely to get the “in-person experience” of a Business school rather than online classes, explained Mr Chowfla.
International Students, Impact Of COVID-19 On Educational Institutions
International students applying for graduate business programmes in the US have also grown but a lot of those ended up being deferred.
Global students applying for graduate business education in the US improved by 20 per cent, in Europe, it has improved by a slightly larger number.
Despite the COVID-19 pandemic, student demand for graduate management education has held up well.
In India too, international applications held up well. However, domestic applications have declined.
International students are more likely to stay in dorms, eat at campuses – the non-academic parts which are very important to the economics of an institute. A major part of a university’s revenue comes from these services, he explained.
Costs of running schools have grown in all parts of the world, including the US, due to the COVID-19 restrictions. For instance, schools now require more classrooms for a batch of students as they will have to follow social distancing and other safety guidelines.