Big Rise in MBA Candidates in Canada
Despite the fewer MBA students in the US in recent years, Canada has recorded a major surge in the number of placement tests taken by aspiring MBA students in the last five years. This is according to a recent report by the Graduate Management Admissions Council (GMAC), which administers the GMAT examination.
According to the Council, the number of Canadians who are taking the GMAT increased by seven percent from 2008 to 2012. In that time period, the US had a decline of seven percent.
One of the reasons that more Canadians are wanting to take the GMAT and enter MBA school is that there are slightly younger people in the US, and younger students who are less than 25 are more interested in graduate programs other than MBAs.
There seems to be a greater diversification in student interests in the younger population the US. There is more interest in graduate degrees in social media, data analytics, marketing and communication, according to experts.
The Council also stated that it saw a 20% increase in international test takers trying to get into Canadian business schools. International business students seem to find Canada an attractive place to study for their MBA. The reasons for this likely include the Canadian reputation for good education, affordable tuition costs and a welcoming environment for students from abroad.
The GMAC report also pointed out several interesting trends about international students who are studying for the GMAT and want to earn an MBA.
In the last five years, people who are taking the GMAT are more international than ever before. About 59% of test takers are from outside the US, compared to 49% in 2008. The people who are taking the test also are younger and more female than before. Also, test takers of the GMAT are more interested in studying for specialty MBAs, such as in entrepreneurship and finance.
China is proving to be a big factor in all of these trends. This growing country leads the world in the sheer number of students taking the GMAT. They also lead in the number of young people and women who are taking the critical MBA placement test.
Interestingly, five Canadian business schools have made the top 19 list of business schools in Bloomberg’s ranking of international schools that offer full time MBAs. This survey was based upon the responses from the class of 2012, corporate recruiters and also faculty articles that are in some of the top journals in the world. According to the survey, the top business schools in Canada are Queens University, University of Western Ontario, McGill University, University of Toronto, and York University.
Of course, whether you go to a Canadian or American business school, there are other things that you should make sure is included in your MBA application other than a strong GMAT score. For example, you need to be sure that your essay and personal statement are written well. Remember that no one knows you as well as you do, so you should be able to make a strong case for why any business school should admit you. The worst thing to do is to not take the essays seriously in your MBA admissions process.
Also, remember, other than submitting strong GMAT scores, that you need to have good letters of recommendation. Make sure that your recommendations really know you well and will be able to provide strong examples of your talents and skills. Also, be sure that you are asking people who have dealt with you in the last few years. If your recommendations are 10 years in the past, these are not going to carry as much weight.