BusinessWeek Reports Surge in Demand for MBA Studies at European Schools
Business schools throughout Europe have seen their application volumes soar in the past year, in part as students from around the world are drawn by shorter programs catering to older students focused on entrepreneurial and socially minded career shifts, a recent BusinessWeek article reports.
IESE in Barcelona is looking to add a fourth stream to its full-time MBA in response to greater than ever application volume, a phenomenon that schools around the globe – but especially in Europe – are experiencing. Attendance at the QS World MBA Tour was up 5 percent overall this year, and most European business schools have reported increases of 10 percent or more in applications, according to BW.
The BW report attributes the surge in demand for MBA programs in Europe to a combination of factors, including financial services professionals looking to change career paths following the financial crisis, the growing popularity of entrepreneurial pursuits and socially responsible career fields and an increase of “return-homers,” MBA students planning to return home to emerging markets upon completion of their degree.
According to the BW report, 18 percent of attendees at the QS World MBA Tour in Europe came with a financial background, up from 14 percent the year before, as more and more financial services professionals look to change career paths following the financial crisis. European MBA programs, many of which are one-year programs that tend to attract a slightly older demographic than U.S. schools, are attractive to these career changers, BW reports.
Data from the 2009 QS World MBA Tour reveals two additional trends that may be contributing to the spike in interest in European MBA programs, including rising interest in entrepreneurial pursuits and socially responsible careers. These trends benefit European schools with strong entrepreneurship programs as well as those that have build corporate social responsibility into their curricula, BW reports.
Finally, more and more international students at business schools today are planning to return home to emerging markets upon graduation, rather than begin a new life in the country in which they attend business school.
“A higher percentage [of graduates], perhaps as many as two out of every three, are returning to work in their home countries, or in emerging markets, rather than staying in the U.S.,” Professor Mauro Guillen at the Wharton School, told BW. European business schools are appealing to this crop of “return-homers” by highlighting their international student mix and their focus on teaching international business practices, the BW report added.
For the full BW story, click here.
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