GLOBAL: First MBA survey following recession

A new survey released by career and education experts QS shines a revealing light on the impact of the recession on international MBA graduates. A key finding from the QS TopMBA.com applicant survey suggests graduates are increasingly choosing self-employment and entrepreneurship over finance, law and government for a career.

The proportion of MBA graduates choosing these riskier career paths has increased from 25% in 2008 to 29% in 2009. The survey took into account the responses from almost 4,000 MBA candidates from 35 different countries.

According to London-based QS, which has offices around the world, it is the first set of MBA career figures that considers the impact of the recession on business school candidates.

"This is the first time that QS has empirical data on how the recession has impacted the attitudes of the world's MBA candidates," said Ross Geraghty, a co-author for the report.

"It's striking how entrepreneurship and self-employment have become popular among this set of respondents."

The survey also reported that the average age of respondents was 28 years although there has been a significant increase of almost 51% of respondents in the 30-plus age range. According to QS, this increase can be associated with the rising availability of executive MBA programmes and the effects of the recession.

The report suggests the recent increase in job shortages or employment cutbacks during the economic downturn has influenced many people to consider enrolling at a business school and taking an MBA.

"Each year, the QS TopMBA.com Applicant Survey reveals unique results about MBA candidate trends," said Nunzio Quacquarelli, QS Managing Director.

"[The] 2009 results suggest the economic crisis is causing MBA applicants to think deeply about how an MBA can help their career and give them the flexibility to withstand the future ups and downs in the business cycle.

More people are applying to business school than ever, looking at more diverse careers, to internationalise their resume [CV], to develop entrepreneurial skills or simply to broaden their business skills to ensure a more prosperous future."