A new study shows that 70 percent of business schools have seen a decrease in applications for two-year MBA programs in 2018.
According to the Graduate Management Admission Council, applications are down 4.5 percent for Harvard Business School, 4.6 percent for Stanford's Graduate School of Business, and 6.7 percent for The Wharton School at the University of Pennsylvania.
Other key figures in the data:
- Full-time, one-year MBA programs saw a 2.64 percent drop in overall applications, while full-time, two-year programs saw a 0.79 percent increase.
- Flexible MBA programs saw a 10.51 percent decrease in applications.
- 70 percent of full-time, two-year MBA programs saw a decline in application numbers, while 24 percent experienced an increase.
- 42 percent of full-time, one-year MBA programs saw an increase.
According to a CNBC article earlier this year, the average salary for a recent MBA graduate was expected to reach roughly $150,000 this year.
The average annual tuition for an MBA program is between $50,000 and $80,000, according to MBAprograms.org.
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