National applications for graduate business studies in the United States increased by 29% during the 2020 cycle, despite the COVID-19 pandemic, and admission to American business schools is expected to become more competitive for Indian students in India. 2021 and 2022.
“The opportunity cost of quitting a job and going to a business school is lowered,” and more and more students have applied for admission, says Sangeet Chowfla, president and CEO of GMAC (Graduate Management Admission Council), on the increase in domestic applicants to the United States. Mr Chowfla described this as “classic countercyclical growth” in an online interaction with Careers360. Applications and registrations for business education have increased globally, he said.
The number of American students applying to business programs in the United States had declined in previous years.
Despite the decline in the number of Indian students applying for business programs in the country, registrations for tests like GMAT and NMAT in India have seen a “V-shaped recovery,” since May 2020, Mr. . Chowfla.
Entering B schools in the US will also be ‘more competitive’ when it comes to India as there is ‘pent-up demand’. Students who always wanted to go to the United States to study but differed due to the Donald Trump administration’s stance on immigration or COVID-19 are more likely to apply now.
Students who applied to MBA programs in December-January would look to enroll in September or 2022, as they would be more likely to gain “in-person experience” from a business school rather than online courses. line, explained Mr. Chowfla. .
International students, impact of COVID-19 on educational institutions
International students applying for graduate business programs in the United States have also increased, but many have ended up being postponed.
International students applying for graduate studies in business in the United States improved by 20 percent, in Europe it improved by a slightly larger number.
Despite the COVID-19 pandemic, student demand for graduate studies in management has held up well.
In India, too, international demands have held up well. However, national demands have declined.
International students are more likely to stay in dorms, eat on campus – the non-academic parts that are very important to an institute’s economy. Much of a university’s income comes from these services, he explained.
School operating costs have increased in all parts of the world, including the United States, due to COVID-19 restrictions. For example, schools now need more classrooms for a group of students because they will have to adhere to social distancing and other safety guidelines.