While the economy is going south in some areas one area is booming — MBA.
The Graduate Management Admission Council announced in Hong Kong recently applications for full- time master of business administration programs has surged by 90% this year.
The GMAC’s application trends survey this year looked at 521 programs at 273 educational institutions worldwide. Two-thirds are US-based.
Findings show that 77% of full-time MBA programs have seen an increase in applications, while the total number of applications has jumped 90% compared with last year.
Dave Wilson, president and chief executive of GMAC, a business schools organization that owns the Graduate Management Admission Test, said,
‘The worse the economy gets, school is an attractive place to go to.’
On average, an MBA graduate’s annual earning potential rises 44%, from $62,000 to $88,000.
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Source: Hongkong Standard