It is an important development for management schools across India, as the country is ranked among the top five preferred study destinations worldwide, ahead of countries such as Hong Kong, Germany, Singapore, Netherlands and Australia.
According to the study by Graduate Management Admission Council which conducts the GMAT for admission to 6,100 graduate business and management programs worldwide, rankings don’t feature in top five consideration criteria for actually selecting a program and a study destination. The study revealed that during the decision making process for selection of B-school criteria, quality of faculty, job placement, programme type and fee structure matter more than the rankings for aspiring management graduates.
The number of B-school aspirants seeking to study outside their country of citizenship has increased from 40% in 2010 to 52%. India features among the top five destinations, while the leader’s (the US), popularity decreased from 73% of prospective students in 2010 to 66% in 2014. Two-thirds (66%) of prospective students across the globe, however, still prefer the US, followed by the UK (6%), Canada (5%), France (3%), India (3%), Hong Kong (2%), Germany (2%), Singapore (2%), Netherlands (2%) and Australia (1%).