GMAC recently released information about GMAT volume for the first four months of 2005. The number of tests taken worldwide from January to the end of April was 68,131, down from 70,179 in 2004. Looking at the statistics more closely, the drop was significantly greater within the US (from 48,031 to 46,260, or 3.68%) than outside (down from 22,148 to 21,871 – only 1.25%). While the difference between the totals for this year and last is a continuation of a downward trend in GMAT volume over the past three years, it’s not nearly as drastic as the fall from 90,682 in 2002 to 76,827 in 2003, or even last year’s drop to 70,179. The data indicates that it’s still a great time to apply to school in terms of relatively low application volume, and also suggests that this annual descrease in tests taken might not continue much longer.
While one could confidently interpret the numbers from GMAC as reflecting a stabilization in GMAT volume, a few articles that have come out recently that suggest that business school application volume is likely to rise in coming years. A few weeks ago, this blog covered an article about brightening job prospects for MBAs in the Boston area – and recent news from Business Week and other sources indicate that this is part of a nationwide trend. Here are the links to a few articles heralding better times ahead for MBA grads:
Business Week – Hot Jobs, New Faces, More Cash
Reuters – MBA grads find Wall St. wants them-again
American City Business Journals – Salaries up for 2005 MBA grads
With all this talk of new and improving opportunities for business school graduates, it seems unlikely that GMAT volume will stay down. As a result, those professionals pondering business school in the coming years might want to seriously consider applying sooner rather than later.
