The United States is no longer the dream destination for Indian management aspirants.
A survey of students, who took the Graduate Management Admission Test (GMAT), the entrance criterion for 5,000 B-schools programmes globally, shows that scores sent by Indians to US universities fell from 71% in 2006 to 55% in 2010. In the same period, GMAT scores sent to Indian B-schools went up from 9% to 14%.
Presently, 100 Indian B-school progammes use GMAT scores compared to 30 in 2006.
The Asian Geographic Trend Report on GMAT, released in the US on Thursday, states: “The most remarkable trend among Indian examinees has been the rapid proportional shift away from US programmes, in favour of domestic and regional opportunities.”
Universities in the UK and Singapore too have gained prominence.
“India schools now offer high quality progarmmes and their students are successful both within India and abroad,” said Alex Chisholm, senior analyst, GMAT.
IT professional Ranajoy Choudhury, 33, took the GMAT last year only to apply for the executive program at the Indian Institutes of Management (IIM). “I want to focus on emerging markets and work in a developing economy. Also, the ratio of earnings versus fees in India is much better,” he said.
“Markets determine student trends and currently Indian markets are up and offer vast opportunities,” said VK Menon, dean, admissions, ISB, which accepts GMAT scores.