Here is some good news for Indian management graduates: Indian companies are more bullish on MBA hires than employers anywhere else in the world.
The demand was highest in India with 88% of the companies planning preferring MBAs to the global average of 79% and the Asia-Pacific
average of 80%.
Indians were also the third largest pool of GMAT examinees looking for international business careers behind those from US and China, according to a survey released on Monday by the Gradate Management Admission Council.
And here is another piece of good news for Indian business school students: 90% of class of 2012 MBAs had a job offer at the time of graduation.
But the survey showed that the number of applicants for the two-year MBA program declined for the fourth year running globally - 51% respondents reported lower figures.
Quoting a respondent, the council, which administers GMAT, attributed the decline to "reluctance (by those already in employment) to leave full time position".
"The economy is picking up and students are finding full-time jobs or have received promotions and do not want to leave to go back to school for two years," said another respondent.
India, however, seems to have escaped the downward trend.
The GMAC survey showed that 80% of two-year business programs in Central Asia - a section dominated by Indian schools - reported higher applications.
Though impacted by the worldwide recession the Indian economy was not as badly hit as those closely integrated with the US economy, such as those in Europe.
Survey's findings on India were upbeat.
For one, a business degree helps. "Indian business school graduates in 2012," it said, "reported large percentage gains in post-degree earnings compared to pre-degree salaries."
Also Indian business schools have emerged as the top study destination for Asians: receiving 41% of GMAT scores sent to top 10 Asian countries.