More Competition Amongst MBAs for Jobs Overseas?

The Graduate Management Admission Council (GMAC) announced the GMAT results for the 2008-2009 testing year, which ended in June. According to their report, the number of tests taken reached an all-time high of 265,613.

What is most interesting about the GMAC report is that the number of tests taken outside of the United States exceeded the number of tests taken in the United States. There were 135,105 non-U.S. test-takers and only 130,508 U.S. However, a smaller percentage of the international students sent their scores to U.S. business schools than in previous years. From The Chronicle of Higher Education, only 59 percent of 2009 non-U.S. GMAT takers sent their scores to U.S. MBA programs, compared with 65 percent in 2008 and 75 percent in 2000. In other words, more students are choosing to study in Europe and Asia, where business school quality has been improving consistently in recent years. In addition, by attending an MBA program in Europe or Asia, these students may have better access to jobs in those areas after graduation.

What does this mean for U.S. MBAs who want to work overseas after graduation? With more high-quality graduates from local business schools, it may be harder for U.S. students to compete in the international market, particularly when recruiting at a nearby business school instead of in the United States may make economic sense.

That said, the United States is still the leader in graduate business education and jobs will be available for students interested in working abroad. As The Wall Street Journal pointed out at the beginning of the 2008-2009 recruiting season, MBA students will have a better chance of finding a job if they look overseas as well as at home. So dust off your resume, ace your global business midterm and you'll be able to find a job away from home.