It’s June, and though for some that means the summer vacation is arriving soon, business school applicants know that it’s only the beginning.
Here’s the latest Applicant Bulletin, bringing you everything you need to know about if you’re spending this month preparing your business school application!
NEWS FROM THE HIGHER RANKS:
Harvard and Booth halt increases in their tuition fees
Last year was the first year ever when every ‘M7’ business school (the so-called ‘super-elite’) took a hit to application volumes on their full-time MBA programs.
One theory as to why this was is the price tag of a top program. Higher-ranking programs are often more expensive: for instance, an MBA from Stanford Graduate School of Business, the top-ranked program in the world by the Financial Times, will set you back almost $116,000 for just one year.
For applicants with big ambitions and their eyes on their purse-strings, however, there is good news. Harvard Business School (second on the FT’s list) and the University of Chicago Booth School of Business (seventh) have both halted increases in their MBA tuition fees this year, while also increasing scholarship funding.
Though the overall cost of both programs still hovers around the $200,000 mark, such a move by two influential schools could produce a positive trend—watch this space.
Starting salaries hit an all-time high—but international employment in the US is low
According to new data from the Graduate Management Admission Council (GMAC), starting salaries for MBA grads in the US have never been higher, now averaging $115,000.
Yet the data also shows that the US continues to be an unfriendly hiring market for international students. Though the number of companies hesitating to hire internationals is lowering year-on-year, it is still at 40%—significantly more than in the APAC and European regions, where international hiring is on the rise.
Read our full report on MBA hiring data here:
NEW PROGRAM ALERT:
INSEAD launches a Master’s in Management
Business education is changing rapidly, and the Master in Management is becoming more of a force to be reckoned with.
Now, b-school giant INSEAD is throwing their hat in the MiM ring, by adding the program to its portfolio.
The INSEAD MiM will be only 10 months long, resulting in an intense and immersive experience that offers grads a chance to enter the workplace quickly to recoup their investment, which comes in at around $53,000.
We spoke to Thibault Séguret, the director of the program, to find out all about what makes INSEAD's Master in Management different.
OUR MOST-READ ARTICLE FROM LAST MONTH:
Where do Forbes’ 30 Under 30 go to business school?
The Forbes 30 Under 30 lists are well-known for collecting movers and shakers from all industries. But how many of them have got an MBA—and, importantly, where from?
Last month, we tracked down some of these future leaders to find out where they went to business school, breaking down the lists by region and industry. From consumer tech to social entrepreneurship, you can read the whole thing right here:
WATCH OUT FOR:
Our coverage of the average GMAT scores on top MBAs
One thing you won’t want to miss this month is our breakdown of the average GMAT scores at the top 20 business schools in the world.
How much should you emphasize your essay prep if you’re aiming for INSEAD? Will Stanford kick you to the curb without a good quant? You can find out later this month if you keep an eye on our site.
Check out last year’s breakdown here:
That’s it for this month! Come back next month for more updates from the world of graduate management education.