2017 MBA Applicant Surveyww1.prweb.com/prfiles/2017/06/19/14438664/2017... · Millennial paradox •Love information •Value deep connections •Willing to act on advice •Have

2017MBAApplicantSurveyTheMillennialParadox

AIGAC2017SurveyreflectsMillennialparadox

• Loveinformation

• Valuedeepconnections

• Willingtoactonadvice

• Havedivergentinterests

Executivesummary

• Applicantsarehungryforinformation,andgoonlinefirst• Candidatescontinuetousewebsitesmostfrequently• Rankingscontinuetobemostvaluableexternalsourceofinformation• Reputationcontinuestodrivecandidates’initialschoollist• Differentrankingsreachdomesticandinternationalcandidates• Asinformationabout“new”aspectsofprocess(e.g.video)hasappearedonline,candidates’comfortlevelhasincreased

• Onceapplicantshaveabaseline,theyseekouttrustedadvisorstogainadditionalperspectives• Onceinitialinformationsecured,applicantsseekoutstudents,friendsandfamily,andconsultants;whennotusingaconsultant,candidatesrelyononlineforums

• Particularlytrueastheygettoknowschoolsandseekoutstudents• Schoolsthatofferedgreatestopportunitytoexpresspersonalityrankedasbestgettingtoknowapplicants

Executivesummary

• Consultantssharevaluableinformationwithcandidates.Mostcommonpieceofadvice?Applytomoreprograms• Consultantsadvisecandidatestoapplytoadditionalschools,particularlyforinternationalapplicants

• Thegreaterthenumberofprogramstowhichcandidatesapplied,themorelikelytheyaretohaveusedaconsultant

• Applicantsdemonstratedivergentcareerinterestsandgoals• Asimilarpercentageofapplicantsindicatewantingtomakeapositivedifferenceinsocietyorincreasingtheirsalary;10%wantedtodoboth

• CandidatesareawareofthesignificantcostofanMBA,butwaituntillate(r)intheprocesstoexplorefunding

Beforewegetstarted,alittleinformationaboutourresults

• 61%male,39%female• 48%areU.S.citizens,48%internationaland4%dualcitizens• 57%liveintheU.S.• 43%liveacross72othercountries• Meanageofrespondent=27.7yearsold• Atthetimetheycompletedthesurvey50%oftheseapplicantshadalreadydecidedwheretheywillattend

Surveyopendates:March2- April30,2017

Totalrespondents:2,868

FindingsreflectapplicantswhoplanonenrollinginJan2018orsooner,andwhoappliedtoatleastoneschool(n=750)

AnalyticsSupport• Constituent ResearchLLChelpeddesignandexecutethesurvey,andprovidedallsurveyanalyses

Distributionsupport (AIGACconsultants,affiliates,andpartnerorganizations)• Largefirms,includingVeritasPrep,Agos Japan,Accepted• Smallerfirms,incl.ApplicantLab,MaxxAssoc.,RoundOne• Partnerorgs,includingDominatetheGMAT,ClearAdmit,EnrollmentStrategies

Thankyou,surveypartners


• Loveinformation



• Havedivergentcareerinterests

Candidatesarehungryforinformation,regularlycheckwebsites

3%

38%

39%

39%

41%

43%

45%

51%

70%

86%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Other(s)

Schoolsocialmediachannels

Blogsmanagedbybusinessschools

MBAfairs

Viewbooks/brochures

Off-campusinformationsessions

On-campusinformationsessions

Onlineinformationsessions

CurrentMBAstudents

Schoolwebsites

School-provided informationsources

Source:2017MBAApplicantSurvey,n=750(thoseintendingtostartprogrambyJanuary2018)

“YaleSOMofferedaplethoraofresources formetounderstandtheschoolandcommunitybetter…Iattendedtwoonlinewebinarsandonein-personsocialeventwithcurrentstudents.Whatamazedmewashowfriendly,approachable,andhelpfulSOMstudentsare.IwouldhavecrossedYaleoffmylist[]wereitnotfortheirinsightsandencouragement.”--Male,30-34(U.S.)

“Theycouldmake[websites]lesscomplicatedandespeciallyputalltheinformationneededatoneplace.Ireallylikedthechecklistofallrequireddocuments forapplicationthatUniv.ofSt.Gallen had.” – Female,24(CzechRepublic)

“Sometimesschoolslikethehighlighttheir'superstar'students.Icompletelyunderstandwhytheywouldwanttodothisbut…Ithinkthisisextremelydetrimentaltotheincomingstudentbodybecauseitdoesn'tremainasbalancedasitshouldbe.”– Female,27(U.S.)

“IfyoulookatMBAschools’websites,yougettheimpressionthat[students]areallthesame:readytochangetheworld,transformyourcareerandofferalifechangingexperience...Butwhenyoudigdeeper,youunderstandoneschoolisthebestfitforfinance,forexample.So,whynotstateitclearlyfromthebeginning?!”– Female,30-34(Poland)

“Alloftheschool’swebsites arereallyinformative.Iespeciallylovedtheprogramsthathadadmissionsblogs – sohelpfulduringananxiety-riddenprocess!”- Female,29(U.S.)

“FloridaTechhas…averyeasytonavigatewebsitewitha'tracker'thatletsmeknowwhereIamintheprocess.”– Female,35+(U.S.)

Applicants’interactionswithwebsitesaremixed

Applicantsseeopportunitiestoimproveschools’onlinepresenceaswell

Someschoolsoffergreatonlineresources

Applicantsalsocontinuetociterankingsasimportant

1%

21%

23%

27%

37%

43%

54%

54%

79%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Other(s)

BooksaboutMBAadmissions

Socialmedia

Admissionsconsultantwhomyouhired

Admissionsconsultants'websites/blogs

Newsarticles(newspapers,magazines,digital)

Onlinecommunities/forums

Family,friends,orworkcolleagues

MBArankings

Whichofthefollowingindependent sourcesofinformationdidyouusewhileresearchingschools?


11% 11% 13% 14% 15%

18% 19%

24% 28% 30% 32% 33%

41% 41%

54% 55%

Friendorcolleague'sadviceExperientiallearningopportunitiesoverseas

InternationaldiversityofstudentbodyAvailabilityofscholarships/fellowships/loans

Costofprogram(tuition)Likelihoodofadmittance

QualityoffacultyMyGMATorGREscore

CareerplacementstatisticsAcademicfocusAlumninetworkImpactoncareer

City/GeographiclocationSchoolculture

RankingReputation

Whichfactorshadthemostinfluenceonspecificschoolchoice?(Selectuptofive)

Indeedschoolreputationcontinuestoinfluenceschoolchoice


Sourcesusedtoevaluate“reputation”differforeachaudience

0% 20% 40% 60% 80% 100%

WallStreetJournal

FinancialTimes

Forbes

TheEconomist

BloombergBusinessweek

Poets&Quants

U.S.News&WorldReport

Source:2017MBAApplicantSurvey,n=588(thoseintendingtostartprogrambyJanuary2018and usedMBArankings)0% 20% 40% 60% 80% 100%

WallStreetJournal

Forbes

BloombergBusinessweek

Poets&Quants

TheEconomist

U.S.News&WorldReport

FinancialTimes

USapplicants Internationalapplicants

Whichbusinessschoolrankingsinfluencedyourselectionofbusinessschoolstowhichyouwill/didapply?

Asmoreinformationappearedonlineaboutvideoresponses,candidatesindicatedtheyarelesschallenging

46%

27%

13% 5% 6% 2% 1%

51%

32%

0% 7% 5% 1% 2%

0%

20%

40%

60%

80%

100%

Standardizedtests

Writtenessays Recordedvideoresponse

Lettersofrecommendation

Interview(inpersonoronline)

Groupexercise(ifapplicable)

Other

Videoresponse

Novideoresponse

Whichapplicationcomponentdidyoufindtobeespeciallychallenging?(Selectone)


In2016,38%ofapplicantswhocompletedavideoresponselastyearthoughtitwasespeciallychallenging—standardizedtestsandessaysweremuchmorechallenginglastyearaswell.


• Loveinformation




Studentsvaluepeerinsightsthemostintheapplicationprocess

5%

5%

14%

7%

15%

33%

2%

45%

33%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Schoolsocialmediachannels

Blogsmanagedbyspecificbusinessschools

MBAfairs

Viewbooks/brochures

Off-campusinformationsessions

On-campusinformationsessions

Onlineinformationsessions

CurrentMBAstudents

Schoolwebsites

Oftheschool-provided sourcesyouused,whichweremost valuable?(percentageamongthosewhousedthatparticularsource)

Note:N’svary.Baseforeachsource=applicantspecifiedusingthatsourceinapreviousquestion.

Source:2017MBAApplicantSurvey,nvariesbyinformationsourceused

Studentinteractionsoffervaluableinsightstoapplicants

“Ateveryschoolthemostinfluentialcomponentonmydecisiontoapplywastheattitudesofthecurrentstudents.”- Female,27(U.S.)

“WhileIwaswaitlistedatDuke,theWeekendforWomentheyputonwasafantasticwaytogetasenseoftheprogramandconnectwithstudents.ThisinfluencedmydecisiontoattendtheschoolifIhadgottenin,despiteotherscholarshipoffers.”- Female,30-34(U.S.)

“IhadgreatexperienceswithcurrentstudentsfromRossandKellogg asinbothcasestheywerereallyhelpfultoshowmetheuniversityandtalktomeabouttheirexperiences.That'swhatreallyhelpmetodefineifIcanbepartofthecultureoftheuniversity.”– Male,28(Panama)

Applicantsvalueconsultants’adviceasmuchasfriends,family,colleagues,andonlineforums

19%

11%

38%

24%

17%

40%

38%

31%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

BooksaboutMBAadmissions

Socialmedia

Admissionsconsultantwhomyouhired

Admissionsconsultants'websites/blogs

Newsarticles(newspapers,magazines,digital)

Onlinecommunities/forums

Family,friends,orworkcolleagues

MBArankings

%whousedeachindependentsource andfounditmostvaluable

Source:2017MBAApplicantSurvey,nvariesbyinformationsourceused

Note:N’svary.Baseforeachsource=applicantspecifiedusingthatsourceinapreviousquestion.

Applicantswhousedaconsultantfindrankingslessimportant(21%)andonlineforumslessimportant– thoughstillimportantoverall(31%).

2.82

2.82

2.82

2.89

2.91

2.95

3.03

3.06

3.20

3.36

IESE

Harvard(HBS)

Cambridge(Judge)

UniversityofMichigan(Ross)

INSEAD

Duke(Fuqua)

IE

Dartmouth(Tuck)

Vanderbilt(Owen)

ESADE

Howwelldideachoftheschoolsgettoknowyouthroughtheadmissionsprocess?*”

Schoolsthatofferedgreatestopportunitytodemonstratepersonalityconnectedbestwithstudents

*Means(weightedtoequalizeapplicants’currentstatusatallprograms)onascalefrom1(“Notatall”)to4(“Extremelywell”)


Dartmouth,Duke,IESE,andINSEADwereintheTop10lastyearaswell

Millennialsvalueschools’effortstogettoknowthem

“TheschoolsthatIlikedthebestwerenotnecessarilythehighestrankedprograms—theprogramsIreallygravitatedtowerethosethatfeltliketheygenuinelywantedtolearnmoreaboutme.”– Male,29(U.S.)

“GettoknowusbeyondGPAandtestscores.Duke's'25Facts'andNotreDame's'Slideshow'aregreatexamplesofthis.Otherwise,itmakesmefeellikeyourprogramsimplywantshigh-performingcattleonaconveyorbelt(forrankings)…”– Female,30-34(U.S.)


• Loveinformation




2%

6%

6%

12%

13%

16%

24%

33%

39%

2%

5%

9%

16%

15%

27%

32%

29%

Getmoreworkexperiencebeforeapplying

Takepost-graduatecourseworkbeforeapplying

ApplytoacountrythatIhadnotpreviouslyconsidered*

ApplytofewerschoolsthanIhadplanned

Applytohigher-rankedschoolsthanIhadplanned

Applytolower-rankedschoolsthanIhadplanned

ApplytomoreschoolsthanIhadplanned

TrytoearnahigherGMATscorebeforeapplying

ApplytoaschoolthatIhadnotpreviouslyconsidered

Howdidyouradmissionsconsultantinfluenceschoolchoice?

2016

2017

Applicantsincreasinglyturntoconsultantsfortrustedschooladvice

Source:2017MBAApplicantSurvey,n=316(thoseintendingtostartbyJanuary2018and usedaconsultant)

*Newthisyear

Thisisparticularlytrueforinternationalcandidates

35%

44%

0% 5%

10% 15% 20% 25% 30% 35% 40% 45% 50%

LivesinU.S. LivesoutsidetheU.S.

ConsultantsuggestedIapplytoaschoolIhadnotpreviouslyconsidered

Source:2017MBAApplicantSurvey,n=316(thoseintendingtostartprogrambyJanuary2018 andusedaconsultant)

“Myconsultanthelpedmeidentifymystrengthsandfoundschoolsthatwouldbeagoodfitforme.”- Male,30-34(U.S.)

“HereallyhelpedmefocusonwhatexactlyIwantedtodoAFTERgraduatingandthereforewasabletoadvisemeonwheretoapply.”-Male30-34(U.S.)

Applicantswhouseconsultantsapplytomoreprograms

25%

29% 31%

15%

0%

5%

10%

15%

20%

25%

30%

35%

1school 2-3schools 4-6schools 7ormoreschools

Numberofgraduatebusinessschoolsappliedto(orplanningtoapplyto)

%whousedconsultants:


23% 41% 49% 62%


• Loveinformation




ApplicantshaddiversereasonsforapplyingtoMBAprogramsthisyear


10% 14%

27% 27% 32% 33% 36% 37%

45% 45% 48% 52%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Mypersonalsituationchanged

PerceptionsthatIcouldgetadmitted

Experiencelieinanewgeographicregion

Getprofessionalcredentials

Deepenexistingknowledgeandskills

Gainasenseofpersonalsatisfactionand…

Desiretomakeapositivedifference,improve…

Iwanttoincreasemysalary

Accessastrongnetwork

Advancemycareer(verticalmove)

Accessjobprospects(changecareer)

Acquirenewinformation/skillsknowledge

Whichfactorshadmostinfluenceondecisiontoapplythisyear?

“Thisprocesswasextremelydifficultforsomeonecomingfromlimitedmeansanditcouldhavebeenmadeeasier…thenatureoftheapplicationprocessmaydeterqualifiedcandidateswhocomefromlowerincomebracketsandarefirstgeneration.”– Female,30-34(U.S.)

“TakemorecareaboutassistingyouradmittedstudentsinfiguringhowtopayfortheirMBA.Sometimesfindingfinancialresources…iswhatdetermineswhetherthestudentwillattendornot.”–Male,30-34(Morocco)

“Offermorehubinterviewsandinformapplicantsofthetimingofadmittedstudentweekendsearlier toavoidhighairfarecostsandconflictingweekends.Assomeonewhoisabouttotakeonalargeloan,financesneedtobeconsideredatalltimes.”– Male,29(U.S.)

Continuetobesensitivetothecostofadegree

However,women figureouthowtofinancetheirMBAafter acceptance


19%

32%

20%

38%

21%

43%

16%

30%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

None

AfterIwasaccepted

Duringtheprocess

BeforeIstarted

Whendidyouconsiderhowtofinanceyourdegree?(Selectallthatapply)

Women

Men

Schoolscancarveoutadistinctadvantageinattractingadmits

IthinkitisimportantfortheadmissionsstafftoinformpotentialstudentsofalloptionsforpursuinganMBA…IoriginallywantedmycompanytopayforanMBAbuttheywouldnotpayfortheschoolIwantedtogoto.IhadtroubletryingtofigureoutwhattodoasIcouldnotaffordtopayalargesum.

TheschoolIwillbeattendingofferedalloptionswithscholarshipinformation,andtheircontinuousinteractionwithmeledmetodecidetoattendafulltimeprogramevenwiththeriskofnothavinganincomeforayear.

Theymadeitworkformewithoutfailandreallycaredtolistenandhelpmewithmydecision/financialneeds.ThisissomethingIwouldhopeeverybusinessschoolisdoingforpotentialstudents.”- Female,26(U.S.)

ShapingconversationsabouttheMBAadmissionsprocess

since2009

Discussion

ShapingconversationsabouttheMBAadmissionsprocess

since2009

Appendix

2.76

2.76

2.76

2.77

2.78

2.78

2.78

2.83

2.85

2.87

2.89

2.99

UniversityofTexas- Austin(McCombs)

Oxford(Said)

INSEAD

UniversityofToronto(Rotman)

CarnegieMellon(Tepper)

IESE

UniversityofChicago(Booth)

Cornell(Johnson)

Duke(Fuqua)

Northwestern(Kellogg)

IE

Dartmouth(Tuck)

Howwelldideachoftheschoolsgettoknowyouthroughtheadmissionsprocess?*”

Top10SchoolsWhoGottoKnowApplicantsWellin2016

*Means(weightedtoequalizeadmissionsrates)onascalefrom1(“Notatall”)to4(“Extremelywell”)

Source:2016MBAApplicantSurvey,n=1,114(thoseintendingtostartprogrambyJanuary2017)

Note:Thesearelastyear’sresults,forcomparisonpurposes.

Documents

2017 MBA Applicant Surveyww1.prweb.com/prfiles/2017/06/19/14438664/2017... · Millennial paradox •Love information •Value deep connections •Willing to act on advice •Have