Admission Trends at European B-Schools
From rising numbers of applicants to more students eyeing entrepreneurship and social responsibility, here are the key trends shaping Europe's MBA programs

By Nunzio Quacquarelli

SPECIAL REPORT

(Corrects Vlerick Leuven Gent Management School application figure in third paragraph)

Javier Muñoz, admissions director at IESE in Barcelona, is looking to expand the school's class size by adding a fourth stream to its full-time MBA. "Applications have been very strong this year," Muñoz says.

The increase IESE is seeing in demand for MBA degrees is happening worldwide—and particularly benefiting European business schools. The QS World MBA Tour reported an overall 5% increase in attendance numbers in 2009 over the previous year, while most European B-schools have reported increases of 10% or more in their number of applications.

Peter Rafferty, MBA director at Vlerick Leuven Gent Management School in Belgium, has been able to double his class size in the past 12 months on the back of a 100% jump in applications. St. Gallen in Switzerland has seen a 100% growth in its part-time executive MBA program, alongside strong growth in its full-time MBA program—with applications coming from across Europe. And in the U.K., Philippa Hain of the London Business School's admissions team also reports strong application numbers, while the lesser-known Westminster Business School has had to wait-list applicants for the first time for its full-time MBA, according to its admissions manager, Agata Mazurkiewicz.

What's behind this resounding growth in demand for MBA studies at European schools?

REDIRECTING CAREERS
The financial crisis has certainly shaken out professionals in financial services, encouraging them to change career paths. Santiago Iniguez, dean of IE Business School, argues that "the MBA remains a transformational experience, a hub where participants can retrain." Among 2009 attendees of the QS World MBA Tour in Europe, 18% came with a finance background, compared with 14% in 2008. The one-year duration of most European MBAs, combined with the fact that the schools tend to cater to a slightly older cohort of candidates than their U.S. counterparts, have made them quite attractive to people seeking new careers.

Career insecurity also has encouraged young professionals from a broad range of industries to seek an MBA as a safe haven, using the recession as a period to "reskill" and prepare for opportunities in the future. Usually MBA applications start to slacken at the beginning of an economic recovery. But in 2010 many young professionals have decided that to be equipped for a new business era, an MBA degree may be a prerequisite for success. As a result, applicant demand is more robust than at the same stage in previous business cycles. "Business remains the hottest ticket in higher education, with the widest career opportunities," says IE's Iniguez.

One trend in the past 12 months is especially noteworthy: A growing number of people appear to be rejecting traditional corporate career paths in favor of entrepreneurial pursuits. An MBA is an obvious way to jump-start that process. Asked their reasons for attending business school, 30% of attendees of the QS World MBA Tour identified a desire to become an entrepreneur, up from 25% the previous year. Many European B-schools have established strong reputations for fostering entrepreneurs or entrepreneurially-minded managers, including Cranfield, EM Lyon, IE, IESE, Imperial, Insead, LBS, Manchester, and RSM.

GOOD CITIZENS, TOO
Socially responsible careers are another objective that's increasing in popularity, to the benefit of European schools that have built CSR into their curricula. Some 11% of QS World MBA Tour attendees expressed an interest in socially responsible careers, compared with just 6% a year ago. "A significant number of IE alumni are exploring business opportunities in fields such as biotechnology, renewable energies, or 'green' industries," says the school's Iniguez. "Today we live in a new business environment where business schools are challenged to prepare not just good financial engineers or management technicians, but primarily entrepreneurs who are at the same time good citizens."

Another big change has been the proportion of international students at business schools who are actively looking to return home or develop careers in emerging markets. A few years ago, an international MBA was a route to a new life overseas—most commonly in the U.S. or Britain, which were the two most popular career destinations. Now, with tightening work permit requirements in the U.S., international MBAs are instead looking to return home to take advantage of burgeoning opportunities there.

Professor Mauro Guillen at the Wharton School in Philadelphia notes that "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." European business schools are capitalizing on easier visa requirements in their countries to attract international MBAs determined to stay and work abroad in their country of study.

At the same time, European business schools are appealing to "return-homers." They are emphasizing their highly international student mix (at many, more than 90% of the students are international) and their ability to teach international business practices while providing an internationally dispersed alumni network. All of these factors can provide powerful career advantages for those seeking to exploit the rapid growth of China, South East Asia, Latin America, and other emerging economies.

http://www.businessweek.com/globalbiz/content/mar2010/gb20100319_850576.htm

Strange tastes, new world... GREAT IDEAS!

I have just returned from a weeklong visit to Singapore and Thailand. What can I say? The whole experience was mind blowing... I met with friends from university and networking sites online and they introduced me to a way of life which has pushed me to better myself in every way I can.

It is so hard for people from other countries to be able to benefit from the top tier graduate institution made available to us in the west and I seriously believe we take it for granted.

Whilst I was on my travels I spoke with many different people who had studied in Europe, Canada and the US and most of them are planning to return for their MBA’s. I saw a snippet of what an MBA would get you career/lifestyle-wise in Singapore and it rivals some of the best jobs here.

One guy who I met was from the UK studied his MBA in Australia, he was out in Thailand on business and he seemed to be living the James Bond/ jet setter lifestyle; travelling the world, meeting with important people and making notable headway in his industry.

I think beyond the superficial things having an MBA allows you to take your career to a new level. I am most interested in the possibility of sponsorship and scholarships available. Lots of my friends have attended world MBA fairs where they meet with schools from all over the world and discuss the possible financing opportunities, GMAT Strategies and which programmes would best suit them.
I wonder if one is due to come to Vancouver this year... I will double check the facts and of course post my findings on here.

I’ve heard lots and lots about Green MBA’s... when I look up what one is, I see there is a lot of interest in them and it allows for a great talking point at interviews. Here is a description from one institution based in the US:

“Green MBA is an engaged learning community that seeks to promote financial viability, ecological sustainability, and social justice in business and organizations of all types. Students graduate with practical skills and experience, prepared to innovate, communicate, and lead effectively in the face of global challenges.”


After travelling around parts of Asia I have definitely seen the value behind MBA’s and international study. The Asians have a focus on supporting people who are committed to bettering themselves and in some part I feel there is a shared belief that their efforts will flow into their work life and benefit the organisation they are working with/for.

Time to share my experiences

Let me start my brand new blog with a bit about myself:

I was born in trendy East London, England on a Sunny afternoon way back in 1982. I was a quiet boy with a wild imagination and lots of friends (some of them I’ve come to realise were fictitious)

We were fortunate enough to have quite a nice park nearby with lots of trees and shrubs to get lost in and make hideouts. This early playful childhood made me the man I am, and it was my ability to make do with what little I had which has got me to where I am today!

At college I majored in English Language, Psychology, Art and Media. I followed through with an extraordinary year in design school, where I homed in on fine art, graphic design and all round visual communication.

I then took a some evening classes to make the most of the time I had available as a student by learning basic French I also was fortunate enough to work for a local PR agency (part time to scrape together some pennies to fund the my social life).

After this moment in my life I realised I was made for something other than what I was doing, I love London but it was time to discover the rest of the world!

I finished and completed my Art Course and graduated top of my class. Three months later I enrolled onto my bachelors in Birmingham University, UK. I studied Marketing and graduated with honours!

Whilst at university I attended many graduate school events some with large groups of multinational schools; others directly at the institutions I was lucky enough to visit (as they were close by). During one convention I met a couple of people who were interested in speaking with American universities so we done our research and came across one international grad school tour and three of the eight of us ended up enrolling on the same course at the same institution.

I ended up reading Business Strategy for my Masters at NYU Stern. I have since moved Vancouver and work for the Canadian arm of an International advertising agency.

For the most part I feel all my hard work has paid off but I can’t help but wonder what it would be like to get back into education and work towards my MBA. I know there are so many different types and that the MBA has become all encompassing.

I hope to discover the world of further education and beyond. If and when i come across anything interesting I’ll be sure to post it on here so that it can help someone else as much as it has helped me.

Similarly if there is anything further someone would like information on, CV help, interview tips, advice on moving to another country. Feel free to ask!

...Oh by the way, I’m The Man About Town. Welcome to my blog!