Recovery from a prolonged global pandemic. Inflation-prompted economic uncertainty. Slowing job market. These are just a few worries business school graduates are contemplating as commencement season came and went. Alternatives to graduate management education (GME), or higher education in general, have no doubt entered the mind of many business school aspirants. For those graduating this summer – and those thinking about or are going back to school this fall, the road ahead to career satisfaction and success can seem conflicting as ever before.
It was almost exactly four years ago in January when GMAC announced the acquisition of The MBA Tour, a well-recognized brand within the graduate management education industry. The Tour, aiming to support business schools and their global recruiting efforts, organizes business education-focused events year-round across the world. GMAC was looking to grow The MBA Tour’s core offering, expand into additional markets, and explore ways to deepen the interaction between business schools and prospective students in a personalized, data-rich manner.
Topics: Recruitment & Marketing, Grad school consideration, graduate business school candidate, graduate business school, MBA Program, business school, pandemic, MBA Tour, recruiting, events, graduate management education, MBA, COVID-19, graduate school, Graduate Management Admission Council, MBA candidate, higher education, education, GMAC Tour, COVID
On August 8, 2022, GMAC announced the appointment of Joy Jones as the organization’s next CEO. Joy, who joined GMAC in July 2017 as chief product officer and general manager of assessments, was unanimously elected by the GMAC board of directors and officially took over as GMAC’s fourth CEO on October 1, 2022.
It drew much media attention last month when Columbia University announced that it would pull out of the 2023 Best College Rankings by U.S. News & World Report due to questions raised—by the institution’s own faculty, nevertheless—on its data submission. The ranking publisher subsequently moved the university to the “unranked” category from its runner-up placement of the nation’s best universities in 2022. It is also worth mentioning that the graduate-level schools of Columbia University, including its business school, remain ranked because the university used different processes when reporting the data (full disclosure: Columbia Business School is a member school of GMAC). Soon after this announcement, The Economist magazine decided to discontinue its publication of MBA ranking, citing “commercial” reasons behind the move.
Last month, in what Inside Higher Ed called a watershed moment, it was reported that in the United States, the number of full-time, online MBA students eclipsed that of those studying on campus during the 2020–21 academic year. The data, provided by the Association to Advance Collegiate Business Schools (AACSB), shows that 45,038 students were enrolled in online programs in the U.S. last year with 43,740 in person. In an interview for Forbes with John Byrne of Poets and Quants, Will Geoghegan, chair of the Kelley Direct Program at Indiana University's Kelley School of Business, identified four trends in graduate business education behind the phenomenon: better recognition of the online MBA, significant technology advancements, enhanced in-person experiences in online programs, and lower opportunity costs.
MBA students this year are facing a job market so hot that offers are already being made before they even set foot on campus, reported the Wall Street Journal earlier this month. With record-level openings created by the COVID-prompted “Great Resignation” in the United States, recruiters recognize the unmistakable talent in the incoming cohort of business schools and rush to secure the employment of these candidates, among whom women and underrepresented minority groups are especially the targets of intense recruitment competition as companies shift their focus to build more diverse and inclusive workforces.
The debate on whether standardized testing should be included in the college admissions process made headlines again last month when the Massachusetts Institute of Technology bucked the trend, announcing its decision to reinstate the requirement for SAT or ACT scores as part of its admissions mandate, shifting away from the pandemic-induced test-optional policies. Given its reputation and prestige, this decision had serious ramifications and generated much discussion amongst students and schools, as indicated in a Washington Post article.