Graduate Management Admission Test (GMAT) is one of the globally renowned exams for admissions to Master of Business Management (MBA) program. It has given India a reason to cheer up with some interesting facts. The first reason for India to cheer up is that the number of Indian women taking GMAT exam has increased considerably. The second reason for India to feel proud is that Indians are doing better than US in GMAT exam.
GMAC (Graduate Management Admission Council), the testing agency that conducts GMAT exam has revealed that the number of female seeking admission in MBA programs across the world has seen an all time high in the last few years constituting up to 43% of the total number of candidates appearing for the test worldwide. In 2011-12, around 1,22,843 female candidates took the test compared to 85,473 candidates in 2001-02 (10 years back) exhibiting an increase of 43.7%. In addition, the number of Indian women registering for GMAT has also increased from 6,714 to 7,812 in the past 5 years.
As per the study, the GMAT score of Indian candidates has witnessed a rise in the past 5 years. In 2007-08, the score was 569 however in the very next year, the number decreased to 565. In the next 3 years, the score was on increasing pattern - 578, 581 and 582 respectively.
China, with an overall population similar to that of India, had scored 588 in the year 2011-12. China is one of the biggest competitors of India. Though the GMAT scores of Belgium (597), Australia (598), Argentina (595), South Korea (586), Hungary (585) and Britain (587) are better than India, the country has left US far behind at a score of 533. China followed by India contributes the highest number of MBA students in the South Asian countries.
The number of candidates joining the MBA course from Business & Commerce background and Social Sciences has gone up to 5.1% and 2.5% average annual growth rate p.a. respectively. Candidates from other streams such as science, humanities and engineering have dropped by 1-2%.
The students from Business-Commerce stream constitute to about 55% of the total profiles while students from engineering stream constitute to about 16.4%. Science and humanities background students form a mere 5%. Social sciences student form another 16%.
East and Southeast Asia, where India is located, shows a high growth rate in sending MBA applicants doubling the number to 77,800 in 5 years.