According to Financial Times research, over the past five years, the number of students entering MBA degrees in the United States (US) has been falling steadily.
While the US is the birthplace of degrees in the Business sphere, many students are now deciding to choose a degree in other fields instead of an MBA Degree course.
This year, only one of the top ten business universities has recorded an increase in the number of accepted students for an MBA degree course. The Chicago Booth School of Business is the only exception with the number of applications rising by 3.4%. All other top performers in the MBA field are recording drops in the number of applications.
Why fewer students want an MBA degree
One of the main reasons behind the decrease in the number of applications for MBA courses is the tightening of restrictions for foreign students.
The current US President Donald Trump is infamous for his strict views on immigrants, which has made a lot of international students rethink the decision to study in American universities.
Another big concern for students to reconsider joining an MBA program in the United States is the expense. Currently, education in the US is one of the most expensive worldwide, and a lot of students are experiencing difficulties managing their student loan debt. On top of that, areas like California are extremely expensive in terms of living costs as well.
These factors, in combination with a rather turbulent labor market, are tipping the scales in favor of countries other than the United States.
Last but not least, many students and employers alike, have started thinking of an MBA as a rather general qualification, which does not make you an expert in a particular field. Consequently, a majority of the soon to be undergraduates decide to turn to more specialized subjects, which guarantees them recognition on the job market at a later stage.
