NEW YORK--(BUSINESS WIRE)--As the job market for top talent shifts from investment banks to tech firms, a Kaplan Test Prep survey* of 140 business schools across the United States and Canada shows that 54% accepted more students from STEM backgrounds (Science, Technology, Engineering and Math) for the 2013-2014 cycle compared to three years ago. Traditionally, the bulk of B-school students have come from more traditional fields such as consulting, marketing and business.
Reflecting a broader change in the business school education landscape, the increased acceptance of applicants from non-traditional backgrounds comes at a time when GMAT test taking volume is down and business schools are seeking new ways to attract top talent. Recent years have seen B-schools roll out a growing number of specialized master’s programs in areas like Accounting, Finance, Human Resources and Operations and an overall increase in the number of applicants to these programs**. Typically, these programs place less emphasis on an applicant’s employment experience in the admissions process; Kaplan’s survey showed that only 12% of business school admissions officers cited lack of relevant work experience as the biggest “application killer,” compared with 51% who said they would reject an applicant on the basis of a low entrance exam (GMAT or GRE) score. Related data from Kaplan’s survey shows that 39% of business schools accepted more students who applied directly from college than three years ago.
“Business school demographics are shifting, with growth coming from applicants who are younger, more international, and have STEM backgrounds -- and this is translating to growth in specialized master’s degree programs,” said Lee Weiss, executive director of pre-business and pre-graduate programs, Kaplan Test Prep. “A specialized master’s degree can be a great fit if an applicant knows they want to pursue a career in that particular field, while a traditional MBA provides broader options. Students exploring business school programs should think carefully about why they want to go to business school and how a particular degree can help them achieve their career goals.”
For more information about Kaplan Test Prep’s 2013 survey of business school admissions officers, please contact Russell Schaffer at russell.schaffer@kaplan.com or 212.453.7538. Aspiring bschool students can visit Kaplan’s GMAT blog at http://gmat.kaptest.com.
* For the 2013 survey, 140 admissions officers from business schools across the United States and Canada were surveyed by telephone between July and September. Among those 140 are five of the top ten MBA programs, as compiled by U.S. News & World Report.
** BusinessWeek, “The Booming Market for Specialized Master’s Degrees,” November 21, 2012, Alison Damast. http://www.businessweek.com/articles/2012-11-21/the-booming-market-for-specialized-masters-degrees
About Kaplan Test Prep
Kaplan Test Prep (www.kaptest.com) is a premier provider of educational and career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep industry. With a comprehensive menu of online offerings as well as a complete array of print books and digital products, Kaplan offers preparation for more than 90 standardized tests, including entrance exams for secondary school, college and graduate school, as well as professional licensing exams for attorneys, physicians and nurses. Kaplan also provides private tutoring and graduate admissions consulting services.
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