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1、Diversity in Graduate Management Education 2020Market IntelligenceIntroduction .3Key Findings .6Gender .10Nationality .26US Race/Ethnicity.44Experience.62Undergraduate Major .62Work Experience .80Contributors and Contact Information .92Table of ContentsDiversity in Graduate Management Education 2020

2、 12 Graduate Management Admission Council(gmac)As the key pipeline and training ground for global business leadership,graduate management education(GME)has a critical role to play in ensuring that future business leaders understand and appreciate diversity,as well as reflect the diversity of the soc

3、iety they will serve.By recruiting,admitting,and enrolling diverse cohorts,GME programs enhance the educational experience of all their students by facilitating interactions with diverse ideas,perspectives,and information,and prepare students to participate in and lead diverse teams in a future busi

4、ness landscape that will be increasingly interconnected and global.As companies awareness of the strong business case for diversity and inclusion in business leadership continues to expand,1 global organizations will look to business schools with increased urgency to deliver greater numbers of busin

5、ess school trained talent to unlock the competitive advantage of diverse and inclusive leadership teams.How diversity is understood can vary widely in different global contexts.In the context of this report,diversity can be defined broadly as the representation of variation in peoples identities,bac

6、kgrounds,and experiences.Beyond the traditional diversity lenses of gender and race/ethnicity,this report features analysis and Introductiondiscussion of business school candidate diversity from the perspectives of nationality,academic background,and level of professional experience.This is in recog

7、nition of the value that diversity of cultures,disciplines,and lived experiences can add to business classrooms,supplying nutrients to the soil in which rich discussions and learnings can take root.As an association of leading graduate business schools,the Graduate Management Admission Council(GMAC)

8、recognizes the critical importance of diversity in GME and is committed to continuing to supply the industry with timely market intelligence to advise schools recruitment initiatives.In an effort to further inform those initiatives,this report curates information from across GMAC Research data touch

9、points and external sources to provide business school professionals with detailed and useful analysis of the state of diversity in the GME pipeline in the context of a diverse world.Through our role as a premier provider of market intelligence for GME and as a leading convener of GME thought leader

10、s,the Council hopes that sharing this analysis sparks ideas,aids in reflection,and assists with the development of new perspectives and best practices that help our industry make important strides toward enhancing diversity and inclusion on business school campuses.This report curates information fr

11、om across G M A C Research data touchpoints and external sources to provide business school professionals with detailed and useful analysis of the state of diversity in the G M E pipeline in the context of a diverse world.1 Hunt,V.,Prince,S.,Dixon-Fyle,S.,and Yee,L.(2018).Delivering Through Diversit

12、y.https:/ in Graduate Management Education 2020 3Each section of this report is structured around the following market-sizing framework:The Addressable Market is an assessment of the total potential customer base for masters-level education.In the addressable market portion of each section of this r

13、eport,the broader context of the populations of interest is analyzed and discussed,providing insights that inform our understanding of who proceeds further down the GME candidate funnel.Globally,GMAC estimates that about 329 million people ages 18 to 44 hold at least a bachelors degree,and about 76

14、million are considering earning a masters degree in any field.The Serviceable Market is an evaluation of the population considering a GME degree program.In each section of this report,the serviceable market portion examines the representation of the populations of interest currently in the GMAT exam

15、 pipeline and provides insights into their preferences,decision making,and professional goals.Globally,GMAC estimates that about 15 million individuals ages 18 to 44 are actively thinking about pursuing a masters degree in business.The Served Market includes individuals who have earned a GME degree.

16、In the served market portion of each section of this report,survey data related to the GME outcomes of the populations of interest are examined.Globally,GMAC estimates that about 1.3 million people were conferred a masters-level degree in business in 2019.4 Graduate Management Admission Council(gmac

17、)*Global estimates derived from various data sources,including US Census Bureau,World Bank,UNESCO,GMAC Research,and imputation models for missing data.Diversity in Graduate Management Education 2020 5Market-Sizing Estimates for Global GMEAddressable MarketServiceable MarketServed Market328,760,000pe

18、ople ages 18 to 44 hold at least a bachelors degree 15,131,000people ages 18 to 44 are actively thinking about pursuing GME1,345,000people earned a GME degree in 201975,656,000people ages 18 to 44 are considering a masters-level education Key FindingsGender In global higher education,womens degree a

19、ttainment exceeds that of men,and the gap is widening.Womens enrollments have grown despite the persistence of societal attitudes in many parts of the world that a university education is more important for men than for women,which inhibits womens pursuit of higher learning,and stunts their ability

20、to pursue meaningful,impactful,and lucrative careers in the fields of their choosing.Global employment data reflect gender inequities,particularly in managerial and executive roles,but slow progress is being made.For example,just 6.6 percent of current Fortune 500 CEOs are women,but that is up from

21、just 0.4 percent in 2000.Women hold 22.5 percent of board seats at Fortune 500 companies,up from 16.6 percent in 2010.Slowly but surely,women are closing the gap in GMAT testing,as the share of global GMAT exams taken by women has steadily climbed from 40.1 percent to 47.1 percent over the past 10 t

22、esting years.Womens applications have reached or are close to parity among multiple business masters program types,but lag behind men for full-time and professional MBA programsaccounting for 39 percent and 41 percent of applications,respectively.Compared with their male counterparts,womens journey

23、to business school can be characterized as being more pragmatic.Female candidates tend to consider GME earlier in their educational and career journeys than men,are more likely than men to say that what triggered their pursuit of GME was a skill or credential deficiency,either for a job they want to

24、 pursue or for their current job.Across a range of potential barriers to the pursuit of GME,female candidates are more likely than male candidates to say that specific barriers may derail their journey to business school,including factors like admissions requirements,future debt burden,and confidenc

25、e in their ability to be successful in the program.Womens post-GME career goals are not dissimilar to those of men,though they tend to set different goals and have different priorities.While men and women candidates are aligned that their most frequently cited goal is to earn a bigger salary,female

26、business school candidates are less likely than male candidates to say that their goal is to become CEO or obtain a C-suite or executive-level position.Female candidates are more likely,however,to simply say their goal is to obtain a promotion or work for a company where they can travel internationa

27、lly.Female graduates report high levels of satisfaction with their experience and outcomes.The vast majority of female graduates responding to GMACs Longitudinal Survey rate the overall value of their GME as good to outstanding and say that their GME made their professional situation better.National

28、ityThe global higher education paradigm of student mobility from east to west continues,but things are changing.International mobility in higher education in the last decade was driven mostly by China as a source of international students for high-income countries.International mobility in higher ed

29、ucation will experience slowing growth in the coming decade,taking into account demographic trends(i.e.,declines in the college-age population)as well as investment in domestic higher education,especially in key locations like China and India.The GMAT examinee pipeline is growing more geographically

30、 diverse,and the center of gravity is shifting east.Ten years ago,in testing year 2010,about half of GMAT exams were taken by US citizens(48%)and 19 percent were taken by citizens of East and Southeast Asia.Flash forward to testing year 2019,and the proportion of exams taken by citizens of East and

31、Southeast Asia has grown to 38 percent,and the proportion taken by US citizens has declined to 28 percent.International student mobility in GME is 6 Graduate Management Admission Council(gmac)in the midst of a rapid shift,as a growing number of Asia-Pacific candidates are opting to stay either in co

32、untry or in region,and internationally minded candidates are sending more applications to Europe and Canada and fewer to the United States.Program type preferences vary considerably by country,though globally the MBA continues to be the most considered program type by candidates and receives the lio

33、ns share of applications.Overall,4 in 5 business school candidates consider an MBA program type(79%),and 2 in 3 consider either a full-time one-year or two-year MBA(65%).Candidates in different regions take different journeys to business school.For example,most candidates in Western Europe(65%),East

34、ern Europe(55%),the United States(54%),and East and Southeast Asia(52%)say they first considered GME before completing their undergraduate degree,whereas in locations like Australia and Pacific Islands and the Middle East,its more common to have not considered GME until at least two years in the wor

35、kplace.In some world regions,the data illustrate how candidates curricular interests align closely with their career goals.For example,among candidates from Africa,entrepreneurship/innovation is the most common subject for candidates to identify as a“must-have,”and entrepreneurship is a career goal

36、of nearly half of African candidates(43%),well above the global average.In several parts of the world,candidates professional aspirations are informed by their mobility goals.Goals like“work for a company where I can travel internationally”and“work outside my country of citizenship”are goals for a t

37、hird or more of candidates in Africa,Australia and Pacific Islands,Central and South Asia,East and Southeast Asia,Eastern Europe,Latin America,the Middle East,and Western Europe.US Race/Ethnicity The composition of the US population is undergoing a historic demographic transformation,and young peopl

38、e are at the leading edge.The US millennial generationpeople approximately 21 to 37 years oldis already 44 percent non-white,compared with just 32 percent of the population older than millennials.At the same time,black and Hispanic higher education attainment is on the riseblack bachelors attainment

39、 has increased 29 percent over the last 10 years,and Hispanic bachelors attainment has more than doubled over the same period.Black and Hispanic students that go on to attain a masters degree earn a healthy salary premium over those who do not,but these populations have less access to funding suppor

40、t and are more reliant on loans.Black and Hispanic professionals are underrepresented in managerial and executive-level positions.Black professionals account for 4.1 percent of chief executives in the United States,and Hispanic professionals account for 6.2 percent.While black and Hispanic bachelors

41、 and masters enrollments and conferrals have been on the rise,the selective GME pipelinespecifically the GMAT pipelinehas not experienced the same level of diversification,and black and Hispanic candidates continue to be underrepresented populations(URPs).In the context of an overall US candidate pi

42、peline thats been flat to down for a number of years,these deficits in representation of non-white candidates are particularly troubling because enrollment projections suggest these populations are where future domestic business school recruitment opportunities will be most abundant.Black and Hispan

43、ic candidates predominantly send their GMAT score reports to MBA programs.The top three largest states for black GMAT exams taken are New York,Texas,and Georgia,and the three largest states for Hispanic GMAT exams taken are Texas,California,and Florida.URP candidates tend to consider GME later in th

44、eir educational and career journeys and are more cost sensitive compared with non-URP candidates,as cost of the program is the most often cited potential barrier to the pursuit of GME among black(60%)and Hispanic(66%)candidates.URP candidates tend to rely more on grants,fellowships,scholarships,and

45、support from parents to finance their degree than Diversity in Graduate Management Education 2020 7US non-URP candidates,and URP candidates are more likely than US non-URP candidates to consider less expensive alternatives to GME,including professional certifications(37%)and/or graduate certificate

46、programs through a university(24%).URP candidates are chiefly planning to pursue careers in consulting,technology,and financial services.URP candidates are more interested than non-URP candidates to work in government,media/entertainment,and professional services industries,as well as marketing/adve

47、rtising/brand management,human resources,and information technology/data science roles.In choosing a job,URP candidates are more likely than non-URP candidates to say its important that it be high paying,provides job security,offers the ability to take off time for family or childcare needs,and help

48、s society.Undergraduate Major Bachelors equivalent enrollments have steadily increased globally,growing from 133 million to 152 million between 2013 and 2018an increase of 14 percent.Popular fields of study vary in different country contexts,with business being among the top fields in many key marke

49、ts.There is notable variation globally in the proportion of bachelors earners who go on to earn a masters degree.The GMAT examinee pipeline is growing younger.Over the past 10 testing years,the proportion of total GMAT exams taken by examinees younger than 25 has grown from 42 percent to 52 percent.

50、In testing year 2019,33 percent of examinees indicated that they have not yet completed their undergraduate degree.More than half of examinees who are still undergraduates are from China,and about 1 in 5 undergraduate exams are taken by US citizens.Undergraduate examinees primarily send their GMAT s

51、core reports to business masters programs.Across world regions,the greatest proportion of undergraduate GMAT examinees are business majors,including in the world region with the highest number of undergraduate GMAT examineesEast and Southeast Asiawhere 7 in 10 are business majors.A similar proportio

52、n of undergraduate examinees in the United States(72%)and Western Europe(68%)are business majors as well.In other world regions,there is more variation.In Central and South Asia,for example,less than half of undergraduate GMAT examinees are business majors(47%),and more than 1 in 3 are engineering/c

53、omputer science majors(37%).Among Canadian citizens,50 percent are business majors,followed by social science(20%),engineering/computer science(13%),and science(13%).Most undergraduates who pursue GME say they had always planned to pursue GME at this particular point in their educational journey(63%

54、),though business majors are more likely to say this(65%)than other majors.Compared with business majors,nonbusiness majors are more likely to say that what triggered their consideration of GME was that they wanted to apply for a job,but lacked the required skills or degree to be competitive,includi

55、ng 39 percent of art/humanities majors,39 percent of social science majors,and 37 percent of science majors.A majority of undergraduate candidates say school prestige/ranking and geographic location influence their application decision,and after candidates have applied and received their decisions,t

56、he most important factors influencing their enrollment decision are school prestige/ranking,core curriculum,geographic location,and faculty reputation.8 Graduate Management Admission Council(gmac)Undergraduates curricular interests tend to correspond with their major.For example,art/humanities major

57、s are more likely than other majors to say marketing and communications is a“must-have,”while engineering/computer science and science majors are more likely to gravitate toward business analytics/data science.International management/business is at the top of social science majors lists,while busin

58、ess majors are more likely than others to express interest in corporate finance.Work Experience Demand for experienced management talent varies in different economic and cultural contexts.Regions with greater economic development,employing a greater proportion of the workforce in the services sector

59、 rather than agriculture and industry,typically have a greater demand for the type of experienced managers produced by the worlds leading business schools.Low unemployment has put downward pressure on demand for GME.Historical trends in application volumes show that a strong economy typically has a

60、depressing effect on demand for GME.In times of economic expansionlike the last decade-plus following the last major global recessionthe opportunity cost of pursuing a degree is higher and candidates are less likely to opt to leave the workforce and pursue a degree.The more experience a candidate ha

61、s,the more likely they are to apply to a professional MBA program type and less likely to apply to a full-time MBA program.More than 7 in 10 GMAT score reports sent by examinees with more than one year of professional experience go to MBA program types.Among examinees with 1 to 3 years experience,mo

62、st of their score reports are sent to full-time MBA programs(58.5%).As years of experience increases,fewer score reports are sent to full-time MBA programs,and more go to professional MBA program types.Candidates with more professional experience tend to have made the decision to pursue GME later in

63、 their professional journeys.For example,45 percent of candidates with seven or more years experience say they first considered business school after more than five years of working.Candidates with more experience are more likely to consider cost-effective alternatives to GME,like professional certi

64、fications or MOOCs.Experienced candidates are more likely to seek flexible program options,like online coursework and weekend or evening scheduling.Overall,the top curricular subjects experienced business school candidates say are a“must-have”in their ideal curriculum are strategy,leadership/change

65、management,and business analytics/data science.Candidates interest in co-curricular activities tends to decrease with more years of work experience.Experienced professionals pursue GME to earn more money and gain more responsibility.Those with seven or more years experience tend to be aiming to brea

66、k into senior-or executive-level positions,while those with less than four years experience tend to be focused on gaining responsibilities like managing people and projects.Consulting services is the top industry experienced professionals are considering pursuing after their GME,including about half

67、 of candidates with less than seven years experience.Candidates with less experience tend to express higher interest in fields like financial services and investment banking and asset management.Diversity in Graduate Management Education 2020 9The number of women enrolled in bachelors-level programs

68、 globally increased 22 percent between 2012 and 2018,according to data from the UNESCO Institute for Statistics.In 2018,nearly 78 million women were enrolled in bachelors degree programs,accounting for 51.7 percent of enrolled bachelors students,up from 50.6 percent in 2012.2The total number of wome

69、n enrolled in masters programs has rebounded after a multiyear period of decline.In 2018,nearly 13 million women were enrolled The Addressable MarketIn global higher education,womens enrollment at both the bachelors and masters levels exceed that of men,and the gap is widening.Genderin a masters deg

70、ree program,accounting for 51.7 percent of enrolled masters students,up from 50.7 percent in 2013.3There is considerable variation in womens higher education enrollment by country.UNESCO data show that womens enrollment rates lag behind that of men in low-income countries.For example,women account f

71、or only 38.2 percent of bachelors enrollments in countries classified by the World Bank as low income,compared with 52.9 percent in high-income countries.42UNESCO Institute for Statistics.(2019).UIS Statistics Database.Retrieved on February 3,2020.3Ibid.4Ibid.10 Graduate Management Admission Council

72、(gmac)Diversity in Graduate Management Education 2020 11Womens enrollments have grown despite the persistence of societal attitudes in many parts of the world that a university education is more important for men than for women.Women must still,unfortunately,overcome many societal barriers in their

73、pursuit of a tertiary education,as is evident in data collected from the World Values Survey.When asked if they agree with the statement,“A university education is more important for a boy than for a girl,”more than a quarter of both male and female respondents in several world regions concur,and th

74、ese ideas exist in some magnitude the world over.5 The persistence of these attitudes across world regions inhibits womens pursuit of higher learning,and stunts their ability to pursue meaningful,impactful,and lucrative careers in the fields of their choosing.An area in which societal attitudes are

75、even more pronounced against women is in the business world.The World Values Survey also finds that in some world regions a majority of both men and women agree with the statement,“On the whole,men make better business executives than women do.”6 Notably,the data show that these attitudes about wome

76、n in business leadership are more prevalent than the belief that education is more important for boys.This suggests that even when women are able to access tertiary education,discriminatory societal attitudes often prevent them from realizing the professional benefits that a man may expect from earn

77、ing the same credential.5 Inglehart,R.,Haerpfer,C.,Moreno,A.,Welzel,C.,Kizilova,K.,Diez-Medrano,J.,Lagos,M.,Norris,P.,Ponarin,E.,&Puranen,B.,et al.(eds.).(2014).World Values Survey:Round Six-Country-Pooled Datafile.Madrid:JD Systems Institute.Retrieved from http:/www.worldvaluessurvey.org/WVSDocumen

78、tationWV6.jsp.6 Ibid.7 United Nations Development Programme.(2019).Human Development Report.http:/hdr.undp.org/sites/default/files/hdr2019.pdf.8 CATALYST.(2019).Historical List of Women CEOs of the Fortune Lists:1972-2019.https:/www.catalyst.org/research/historical-list-of-women-ceos-of-the-fortune-

79、lists-1972-2019/.9 Deloitte.(2018).Missing Pieces Report:The 2018 Board Diversity Census of Women and Minorities on Fortune 500 Boards.https:/ Zenger,J.and Folkman,J.(2019).Research:Women Score Higher Than Men in Most Leadership Skills.Harvard Business Review.https:/hbr.org/2019/06/research-women-sc

80、ore-higher-than-men-in-most-leadership-skills.12 Graduate Management Admission Council(gmac)Global employment data reflect gender inequities,particularly in managerial and executive roles.Globally,womens share of employment in senior-and middle-management positions falls behind that of men.For examp

81、le,according to data from the United Nations Human Development Report,women account for 41 percent of senior-and middle-management positions in the United States,35 percent in France,34 percent in the United Kingdom,32 percent in Spain,29 percent in Germany,and 25 percent in the Netherlands.7An even

82、 smaller proportion of women have ascended to the highest levels of management,but progress is being made.According to Catalyst,just 6.6 percent of current Fortune 500 CEOs are women,but that is up from just 0.4 percent in 2000.8 According to the Alliance for Board Diversity and Deloitte,women hold

83、22.5 percent of board seats at Fortune 500 companies,up from 16.6 percent in 2010.9Research indicates that whats impeding womens ascension is a lack of opportunity,not a lack of capability.In fact,recently updated research shows that women score higher than men in most leadership skills.A Harvard Bu

84、siness Review analysis of 360-degree reviews of leaders professional performance revealed that women were perceived to be more effective than men in 84 percent of the competencies measured and were found to be slightly more effective than men at every hierarchical level and in virtually every functi

85、onal area of the organization.10So,while on the global level women make up the majority of enrollments in tertiary education,womens representation in the labor force consistently falls short of that of menparticularly in managerial and executive roles.While slow,progress is being made,creating new o

86、pportunities for talented women to assume ever higher levels of managerial responsibility.Diversity in Graduate Management Education 2020 13Womens Bachelors Equivalent Enrollments(ISCED 6)Womens Masters Equivalent Enrollments(ISCED 7)Source:UNESCO Institute for Statistics.(2019).UIS Statistics Datab

87、ase.Retrieved on February 3,2020.Source:UNESCO Institute for Statistics.(2019).UIS Statistics Database.Retrieved on February 3,2020.2012Womens Bachelors EnrollmentsWomens Masters EnrollmentsWomens Bachelors Enrollments PercentageWomens Masters Enrollments Percentage85,000,00075,000,00065,000,00055,0

88、00,00013,500,00013,000,00012,500,00012,000,00055%50%45%55%50%45%201320142015Year201620172018Women Bachelors EnrollmentsWomen Masters EnrollmentsWomen Bachelors Enrollments Percentage of TotalWomen Masters Enrollments Percentage of Total201220132014Year201520162017201814 Graduate Management Admission

89、 Council(gmac)A University Education Is More Important for a Boy Than for a GirlPercentage of respondents in agreement,by genderOn the Whole,Men Make Better Business Executives Than Women DoPercentage of respondents in agreement,by genderSource:Inglehart,R.,Haerpfer,C.,Moreno,A.,Welzel,C.,Kizilova,K

90、.,Diez-Medrano,J.,Lagos,M.,Norris,P.,Ponarin,E.,&Puranen,B.,et al.(eds.).(2014).World Values Survey:Round Six-Country-Pooled Datafile.Madrid:JD Systems Institute.Retrieved from http:/www.worldvaluessurvey.org/WVSDocumentationWV6.jsp.Source:Inglehart,R.,Haerpfer,C.,Moreno,A.,Welzel,C.,Kizilova,K.,Die

91、z-Medrano,J.,Lagos,M.,Norris,P.,Ponarin,E.,&Puranen,B.,et al.(eds.).(2014).World Values Survey:Round Six-Country-Pooled Datafile.Madrid:JD Systems Institute.Retrieved from http:/www.worldvaluessurvey.org/WVSDocumentationWV6.jsp.World RegionWorld RegionAfricaAustralia and Pacific IslandsCentral and S

92、outh AfricaEast and Southeast AsiaEastern EuropeLatin AmericaMiddle EastUnited StatesWestern EuropeAfricaAustralia and Pacific IslandsCentral and South AfricaEast and Southeast AsiaEastern EuropeLatin AmericaMiddle EastUnited StatesWestern Europe0%0%50%50%100%100%Percentage AgreePercentage AgreeMale

93、MaleFemaleFemaleDiversity in Graduate Management Education 2020 15The share of global GMAT exams taken by women has steadily climbed from 40.1 percent to 47.1 percent over the past 10 testing years.11 The split in exams taken by women and men varies considerably by country.In several countries,women

94、 took the majority of GMAT exams in testing year 2019,including Mongolia(72%),China(68%),and Vietnam(63%).The largest share of global female examinees is in the country markets of China,the United States,and India.The volume of exams taken by female citizens of these three countries accounts for abo

95、ut three-quarters of the global womens testing volume.The greatest growth in female testing volumes over the past 10 years has been in China,the Netherlands,Sweden,India,and Italy.12The Serviceable MarketSlowly but surely,women are closing the gap in GMAT testing.Proportion of GMAT Exams Taken by Ge

96、nder20122011Percentage of Total Exams Taken65%50%35%20132014Testing Year20152016201720182019WomenMenSource:Graduate Management Admission Council.(2009-2019).GMAT testing data.59.9%40.1%47.1%52.9%11Graduate Management Admission Council.(2009-2019).GMAT testing data.12Ibid.13Ibid.14Graduate Management

97、 Admission Council.(2019).Application Trends Survey.https:/ Graduate Management Admission Council(gmac)Though women most often pursue MBA programs,their interest in business masters programs exceeds that of men.In testing year 2019,women sent 50.6 percent of their score reports to MBA programs,45.1

98、percent to business masters programs,and 4.3 percent to all other program types,including PhD programs.13 Data from GMACs annual Application Trends Survey show that womens applications have reached or are close to parity among multiple business masters program typesincluding Master of Accounting,Mas

99、ter in Management,and Master of Financebut lag behind men for full-time and professional MBA programs.Among programs responding to the survey,women accounted for 39 percent of applications to full-time MBA programs and 41 percent of applications to professional MBA programs,including part-time MBA,f

100、lexible MBA,and online MBA.As a result,a majority of responding MBA programs in Europe(78%)and the United States(56%)report that they conduct special outreach to women as a part of their overall recruitment strategy.14 Last year,GMAC Research produced a research brief titled Women and the Full-Time

101、mBa:Continuing the Push for Progress that presented four topics related to womens full-time MBA recruitment,each paired with discussion of GMAC market intelligence insights and views from school professional thought leaders.The brief can be accessed at 10 Citizenship Locations for Womens GMAT Testin

102、g,TY 2019Top 10 Citizenship Locations for Womens GMAT Testing GrowthCitizenship Location Tests Taken by WomenChina 47,630 United States 24,479 India 10,131 Taiwan,China 2,412 Canada 2,214 Germany 1,228 South Korea 1,162 France 1,000 Thailand 898 Vietnam 886 Citizenship Location*10-year CAGRChina 9.4

103、%Netherlands7.2%Sweden 4.8%India4.3%Italy 4.2%Morocco3.9%Argentina3.8%Kuwait3.6%Belgium3.6%Austria3.5%Source:Graduate Management Admission Council.(2009-2019).GMAT testing data.*Analysis limited to citizenship locations with 100 or more exams delivered in testing year 2019.Source:Graduate Management

104、 Admission Council.(2009-2019).GMAT testing data.GMAT Score Sending by Gender,TY 201925%0%Gender50%75%Percentage of GMAT Score Reports Sent100%MBABusiness MastersOther ProgramsSource:Graduate Management Admission Council.(2009-2019).GMAT testing data.50.6%68.0%45.1%50.6%28.6%WomenMenDiversity in Gra

105、duate Management Education 2020 17Compared with their male counterparts,womens journey to business school can be characterized as being more pragmatic.Female candidates tend to consider GME earlier in their educational and career journeys than men.More than half(53%)report that they first considered

106、 GME while still completing their undergraduate degree or earlier.Female candidates are more likely than men to say that what triggered their pursuit of GME was a skill or credential deficiency,either for a job they want to pursue(36%of female candidates)or for their current job(23%).Women are also

107、more likely to say that what triggered their consideration of GME was simply that it was a convenient time to go to school(29%).16Across a range of potential barriers to the pursuit of GME,female candidates are more likely than male candidates to say that specific barriers may derail their journey t

108、o business school,including factors like admissions requirements(52%of female candidates),future debt burden(51%),and confidence in their ability to be successful in the program(35%).17 Past GMAC research has discussed possible approaches to breaking down these barriers,including connecting female c

109、andidates with current students and alumnae to enable authentic exchanges about the student experience and careers and strategies to promoting the broad spectrum of MBA career possibilities and emboldening womens leadership aspirations.18Relative to male candidates,female candidates tend to rely mor

110、e on grants,fellowships,scholarships,and support from parents to finance their degree.On average,female candidates plan to finance 29 percent of their GME with grants,fellowships,and scholarships,compared with 25 percent for male candidates.Female candidates plan to finance 23 percent of their degre

111、e with support from parents,compared with 18 percent for male candidates.19 15Graduate Management Admission Council.(2019) Longitudinal Survey.16Ibid.17Ibid.18 Graduate Management Admission Council(2019).Women and the Full-Time MBA:Continuing the Push for Progress.https:/ Management Admission Counci

112、l.(2019) Longitudinal Survey.20Ibid.21Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.Women research and evaluate programs across a number of different dimensions.In researching programs,more than 3 in 4 women examine programs eligibility requirements,specific schools/

113、universities offering similar programs,program rankings,program costs,and the programs curriculum.Compared with men,women are more likely to research program eligibility,program curriculum,program costs,and financial options.Men are more likely than women to research rankings,career outcomes,and ret

114、urn on investment.20 A majority of female candidates say school prestige/ranking and geographic location influence their application decision,and after female candidates have applied and received their decisions,the most important factors influencing their enrollment decision are school prestige/ran

115、king,career services,school culture,geographic location,and alumni network.2118 Graduate Management Admission Council(gmac)Factors Influencing Female Candidates Decision to Apply and EnrollTriggering Events That Prompted Female Candidates to Begin Their Journey to GMEFactor Percentage Who Say the Fa

116、ctor Influenced Their Application Decision Relative Importance of Factor to Enrollment Decision*School prestige/ranking68%8.7Geographic location56%8.1School culture 44%8.2Alumni network38%8.1Quality/diversity of students35%7.7Recommendation of friends/family/colleagues34%6.8Career services33%8.3Inte

117、raction with students/faculty/alumni31%7.6Faculty reputation30%7.3Core curriculum30%7.8Electives/concentrations29%7.6Program schedule27%7.2Class size25%6.6School facilities22%7.0Interaction with admissions21%6.6Teaching method19%7.0International study options19%5.8Scholarships18%6.2Anticipated progr

118、am cost17%6.9Student services12%7.3Political uncertainty1%3.2*Mean response on a scale of 0(not at all important)to 10(extremely important)Source:Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.Source:Graduate Management Admission Council.(2019) Longitudinal Survey.25%

119、0%Triggering Events50%75%I always planned to pursue GME at this point in my lifeWanted to apply for a job,but lacked skills/degree to be competitiveConvenient time to go to schoolI realized I lacked specific knowledge to do my current jobI had the financial resources to applyMy parents suggested I a

120、pplyMy friends were planning to pursue a graduate degreeMy children left home,freeing my timeAn issue at workNot working at the time/recently became unemployed61%36%29%23%17%16%12%11%10%9%Percentage of RespondentsDiversity in Graduate Management Education 2020 19Female candidates ideal business scho

121、ol culture is one that is collaborative with a team emphasis in a small,close-knit classroom setting.They want a rigorous,academically focused,interdisciplinary education centered around case studies,with flexible curricular options.22 Most female candidates preference is to study full time(76%)in a

122、 program that is taught primarily in person(75%)with a total duration of less than 18 months(59%).About a third prefer a broad,general focus to their program(29%),while about half prefer either a functional(28%)or industry(20%)focus.23A majority of female candidates say their ideal curriculum would

123、include strategy,business analytics/data science,leadership/change management,international management/business,and project management coursework.Notably,more female candidates than male candidates say marketing and communications,social entrepreneurship/nonprofit,brand/product management,and human

124、resource management are a part of their ideal curriculum.24Most female candidates plan to pursue an internship during their program(62%),and about half plan to be a part of student clubs(52%).About 2 in 5 plan to take part in a study abroad program(40%)or case competitions(38%).25Female candidates s

125、eek a rigorous,close-knit,and team-oriented business school experience.Female Candidates Ideal School Culture Respondents indicate their school culture preferences by selecting one of four points between opposing descriptorsCompetitive7%15%39%39%CollaborativeHomogeneous student body5%12%34%49%Hetero

126、geneous student bodyPersonal51%38%8%3%ImpersonalLarge class4%18%50%27%Small classResearch oriented9%28%43%20%Teaching orientedInterdisciplinary28%42%23%8%Concentration focusTeam emphasis38%42%17%3%Individual emphasisFormal8%33%46%14%InformalMore rigorous24%50%22%4%Less rigorousClose-knit community58

127、%33%7%2%Loosely connected communityCase studies27%49%20%3%LecturesAcademic focus14%37%39%10%Co-curricular focusLarge city38%39%17%6%Small city/townFlexible curriculum27%43%23%8%Structured curriculumSource:Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.20 Graduate Mana

128、gement Admission Council(gmac)Womens post-GME career goals are not dissimilar to those of men,though they tend to set different goals and have different priorities.Men and women candidates share the same top three industries considered(consulting services,financial services,and technology)and job fu

129、nctions considered(consulting,strategy,and general management).Women are more interested than men to work in the consumer products,media and communication,and nonprofit industries,as well as marketing,advertising,and brand management roles.26While men and women candidates are aligned that their most

130、 frequently cited goal is to earn a bigger salary(41%each),female business school candidates are less likely than male candidates to say that their goal is to become CEO(30%vs.22%)or obtain a C-suite(19%vs.14%)or executive-level(35%vs.32%)position.Female candidates are more likely,however,to simply

131、say their goal is to obtain a promotion(24%vs.21%)or work for a company where they can travel internationally(38%vs.33%).27In choosing a job,women are more likely than men to say that it is important to have a job that they enjoy(91%of female candidates)and that helps society(59%),as well as provide

132、s job security(75%)and good benefits(77%).28Female Candidates Ideal Business School Curriculum Percentage who indicate a subject is a must-haveSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Curricular SubjectsBusiness analytics/data scienceStrategyLeadership/change managemen

133、tInternational management/businessProject managementEntrepreneurship/innovationMarketing and communicationsCorporate financeConsultingGeneral managementEconomicsBrand/product managementRisk management/insuranceOperations managementMarketing research61%50%43%38%58%47%41%36%61%48%43%37%55%46%40%25%0%5

134、0%75%22Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.23Graduate Management Admission Council.(2019) Longitudinal Survey.24Ibid.25Ibid.26Ibid.27Ibid.28Ibid.Percentage of RespondentsDiversity in Graduate Management Education 2020 21Female Candidates Post-GME Career Goa

135、lsFemale Candidates Post-GME Industries ConsideredFemale Candidates Post-GME Job Functions ConsideredSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Post-GME Goals Get a raise/salary increaseWork for a company where I can travel internationallyManage peopleManage projectsObta

136、in a senior-level positionWork outside my country of citizenshipObtain an executive-level positionGet a job with a different companyLive outside my country of citizenshipChange job functions/occupationGet a promotionObtain a mid-level positionBe self-employed/entrepreneurBecome CEO of a companyChang

137、e job industries41%35%25%22%37%32%24%20%38%32%25%22%36%26%22%25%0%50%Percentage of RespondentsPercentage of RespondentsPercentage of RespondentsSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Source:Graduate Management Admission Council.(2019) Longitudinal Survey.IndustriesJo

138、b FunctionsConsulting servicesFinancial servicesTechnologyInvestment banking and asset managementConsumer productsMedia and communicationNonprofitMedia/EntertainmentGovernmentProfessional servicesStrategy Consulting General managementMarketing/advertising/brand management Finance/accounting Sales/bu

139、siness development Operations/logistics Information technology/data science Human resources 43%46%23%33%30%46%17%24%34%18%33%26%40%16%19%16%18%15%15%20%20%0%0%40%40%60%60%22 Graduate Management Admission Council(gmac)Diversity in Graduate Management Education 2020 23Ninety-four percent of female gra

140、duates responding to GMACs Longitudinal Survey rate the overall value of their GME as good to outstanding.The vast majority say that their GME made their professional situation better(84%),and specifically,73 percent agree GME prepared them for leadership positions,71 percent agree it prepared them

141、for their chosen career,and 66 percent agree its offered them opportunities for quicker career advancement.29 The Served MarketFemale graduates report high levels of satisfaction with their experience and outcomes.Eighty-seven percent say their return on investment is positive,and 77 percent agree i

142、ts increased their earnings power.Seventy percent agree GME developed their professional network,and most would recommend GME to others,as demonstrated by female graduates 25 Net Promoter Score,a measure of consumer loyalty.30 29Graduate Management Admission Council.(2019) Longitudinal Survey.30Ibid

143、.24 Graduate Management Admission Council(gmac)Female Graduates Ratings of the ROI of Their GMEFemale Graduates Ratings of the Overall Value of GMEExtremely positiveModerately positiveSlightly positiveSlightly negativeModerately negativeExtremely negativePercentage of RespondentsPercentage of Respon

144、dents50%40%30%20%10%0%100%75%50%25%0%Rating of ROIPercentage in AgreementSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Female Graduates Assessment of the Impact of Their GMEMy GME.Source:Graduate Management Admission Council.(2019) Longitudinal Survey.Source:Graduate Manage

145、ment Admission Council.(2019) Longitudinal Survey.25%0%Impact Factors50%75%100%.increased my earnings power.prepared me for leadership positions.prepared me for my chosen career.developed my professional network.prepared me to work in culturally diverse organizations.offered me opportunities for qui

146、cker career advancement.prepared me for international employment77%73%71%70%68%66%45%PoorFairGoodExcellentOutstanding28%45%21%Diversity in Graduate Management Education 2020 25The Social Progress Indexa product of the Social Progress Imperative,a global nonprofit based in Washington,DCrates countrie

147、s access to advanced education based on a number of indicators,including years of tertiary schooling,womens average years in school,the number of globally ranked universities,and the percentage of tertiary students enrolled in globally The Addressable MarketAccess to advanced education is uneven aro

148、und the world.Nationalityranked universities.By their methodology,since 2014 the world score for access to advanced education has improved.The top three countries for access to advanced education are the United Kingdom,Australia,and the United States.Among the 175 countries given a score for access

149、to advanced education,notable GME country markets falling below the median include Pakistan,Ghana,Vietnam,and Nigeria.3131Social Progress Imperative.(2019).2019 Social Progress Index.https:/www.socialprogress.org/assets/downloads/resources/2019/2019-Social-Progress-Index-executive-summary-v2.0.pdf.2

150、6 Graduate Management Admission Council(gmac)Diversity in Graduate Management Education 2020 27The global higher education paradigm of student mobility from east to west continues,but things are changing.32 UNESCO Institute for Statistics.(2019).Global Education Monitoring Report:Statistical Tables.

151、https:/en.unesco.org/gem-report/node/6.33 The British Council.(2018).International student mobility to 2027:Local investment,global outcomes.https:/www.britishcouncil.org/contact/press/international-student-mobility-grow-more-slowly-2027 34 Venn,W.(2020).Making Waves:Why China is a Top Destination f

152、or International Students at the Start of the 2020s.XJTLU.https:/ Redden,E.(2019).Inside Higher Ed.Number of Enrolled International Students Drops.https:/ to data from UNESCO,the top three source countries for internationally mobile tertiary education students are China(928,090 internationally mobil

153、e students),India(332,033),and Germany(122,195),and the top three destination countries for internationally mobile candidates are the United States(984,898 inbound international students),the United Kingdom(435,734),and Australia(381,202).32International mobility in higher education in the last deca

154、de was driven mostly by China as a source of international students for high-income countries.Analysis from the British Council predicts that international mobility in higher education will experience slowing growth in the coming decade,taking into account demographic trends(i.e.,declines in the col

155、lege-age population)as well as investment in domestic higher education,especially in key locations like China and India.33 A variety of factors and recent data suggests that China is becoming a destination of international students from lower-middle and low-income countries seeking value for money.T

156、his shift presents unique opportunities and challenges for tertiary institutions to adapt and respond.34In the United Statesthe long-time leader in attracting international students data from the annual Open Doors survey show that new international enrollments declined for both undergraduate and gra

157、duate students in 2018-2019 for the third straight year.A number of factors have contributed to these declines,including increased competition from competing destinations(including candidates home countries),the rising cost of a US higher education,macroeconomic trends,and changes to foreign governm

158、ent scholarship programs,as well as factors related to the US political climate,including candidate perceptions of their ability to get a job in the United States after earning their degree.35 Top 10 Countries for Access to Advanced Education and Average Years of Tertiary SchoolingCitizenship Locati

159、on*Access to Advanced Education Average Years of Tertiary SchoolingUnited Kingdom75.472.9Australia74.645.4United States72.654.0Germany69.243.2Canada67.743.3Spain67.104.1France66.933.1Italy66.733.0New Zealand64.914.2Czech Republic64.602.9 Top 10 Destination Countries for Internationally Mobile Candid

160、atesCitizenship Location Number of Inbound International CandidatesUnited States 984,898 United Kingdom 435,734 Australia 381,202 Germany 258,873 France 258,380 Russia 250,658 Canada 209,979 Japan 164,338 China 157,108 Turkey 108,076 Source:UNESCO Institute for Statistics(2019).Global Education Moni

161、toring Report:Statistical Tables.https:/en.unesco.org/gem-report/node/6.Source:Social Progress Imperative.(2019).2019 Social Progress Index.https:/www.socialprogress.org/assets/downloads/resources/2019/2019-Social-Progress-Index-executive-summary-v2.0.pdf.28 Graduate Management Admission Council(gma

162、c)The Serviceable MarketThe GMAT examinee pipeline is growing more geographically diverse,and the center of gravity is shifting east.36 Graduate Management Admission Council.(2009-2019).GMAT testing data.Ten years ago,in testing year 2010,about half of GMAT exams were taken by US citizens(48%)and 19

163、 percent were taken by citizens of East and Southeast Asia.Flash forward to testing year 2019,and the proportion of exams taken by citizens of East and Southeast Asia has grown to 38 percent,and the proportion taken by US citizens has declined to 28 percent.Over the same period,the proportion of exa

164、ms taken by citizens of Central and South Asia grew from 11 to 15 percent,and the proportion taken by citizens of Western Europe rose slightly to 8 percent.36 Diversity in Graduate Management Education 2020 29International student mobility in GME is in the midst of a rapid shift.In 2019,the results

165、of GMACs annual Application Trends Survey showed that ongoing shifts in student mobility are continuing to take hold in the market,as a growing number of Asia-Pacific candidates are opting to stay either in country or in region,and internationally minded candidates are sending more applications to E

166、urope and Canada and fewer to the United States.Growth in the number of prestigious,globally recognized business school brands in Asia,as well as increased economic opportunities,are keeping more Asia-Pacific candidates in region,and candidates with international aspirations are increasingly looking

167、 to Europe and Canada,where candidates perceive their opportunities for international employment to be strongest.International candidates see the United States as less welcoming as a result of its current political climate,specifically raising concerns over their post-GME job prospects,in addition t

168、o fears of racism and discrimination.37Last year GMAC produced a white paper titled Early Warning Signals:Winners and Losers in the Global Race for Talent,which explains the importance of mobility to economic development using GMAC Application Trends Survey data as an indicator of the global flow of

169、 talent.By drawing attention to this issue,GMAC hopes to encourage policymakers in different world regions to take steps to improve talent mobility,offering policy recommendations to help governments better facilitate the cross-border movement of students and workers in the modern knowledge economy.

170、38 Program type preferences vary considerably by country.Globally,the MBA continues to be the most considered program type by candidates and receives the lions share of applications.Overall,4 in 5 business school candidates consider an MBA program type(79%),and 2 in 3 consider either a full-time one

171、-year or two-year MBA(65%).39 In the Application Trends Survey 2019,MBA programs made up about half of the total number of responding programs(52%)and accounted for 68 percent of applications and 64 percent of available seats.40There is notable region variation,however,in candidates program type pre

172、ferences.For example,more than 3 in 4 GMAT score reports sent by candidates from Japan,Canada,India,and the United States are sent to MBA program types,whereas 2 in 3 or more of score reports sent by citizens of Germany,China,Italy,and France are sent to business masters program types.4137 Graduate

173、Management Admission Council.(2019).Application Trends Survey.https:/ Graduate Management Admission Council.(2019).Earning Warning Signals:Winners and Losers in the Global Race for Talent.https:/ Graduate Management Admission Council.(2018).Demand for MBA and Business Masters Programs:Insights on Ca

174、ndidate Decision Making Prospective Students Survey 2019.https:/ Management Admission Council.(2019).Application Trends Survey.https:/ Management Admission Council.(2018-2019).GMAT testing data.30 Graduate Management Admission Council(gmac)Top 10 Citizenship Locations by Exams Taken,TY 2019Citizensh

175、ip Location Tests TakenChina 70,473 United States 63,945 India 30,590 Canada 5,340 Taiwan,China 4,171 Germany 3,728 South Korea 3,067 Italy 2,745 France 2,641 Japan 2,214 Top 10 Citizenship Locations by GMAT Testing GrowthCitizenship Location 10-year CAGRSerbia61.3%China8.6%Netherlands5.4%Italy 3.6%

176、Morocco 2.9%Albania2.7%Brazil2.3%Chile2.1%Austria1.9%Kuwait 1.8%*Analysis limited to citizenship locations with 100 or more exams delivered in testing year 2019Source:Graduate Management Admission Council.(2009-2019).GMAT testing data.Source:Graduate Management Admission Council.(2018-2019).GMAT tes

177、ting data.GMAT Score Sending by Citizenship Location,TY 2019Source:Graduate Management Admission Council.(2018-2019).GMAT testing data.Citizenship LocationChina United StatesIndiaCanadaTaiwan,ChinaGermanySouth KoreaItaly FranceJapan 19.7%79.0%81.3%85.1%36.6%18.1%58.6%28.4%33.8%88.3%74.7%18.2%16.8%11

178、.1%60.8%80.5%22.3%69.0%64.9%10.7%19.1%25%0%50%75%100%MBABusiness MastersOther ProgramsPercentage of GMAT Score Reports SentDiversity in Graduate Management Education 2020 31Candidates in different regions take different journeys to business school.The journey to business school begins earlier for ca

179、ndidates in some regions compared with others.For example,most candidates in Western Europe(65%),Eastern Europe(55%),the United States(54%),and East and Southeast Asia(52%)say they first considered GME before completing their undergraduate degree,whereas in locations like Australia and Pacific Islan

180、ds and the Middle East,its more common to have not considered GME until at least two years in the workplace.A common situation that prompts candidates to consider GME is that they want to apply for a job but lack the required skills or degree to be a competitive applicant,especially in the world reg

181、ions of East and Southeast Asia(45%),Australia and Pacific Islands(42%),and Canada(41%).42When asked what could derail their pursuit of GME,across regions key themes of candidate responses include cost of the program and future debt burden,in addition to concerns about meeting admissions requirement

182、s and not getting into their preferred school.Candidates from Africa,Australia and Pacific Islands,and Central and South Asia plan to pay for the largest proportion of their overall GME costs with grants,fellowships,and scholarships.43The most common alternatives to GME that candidates are consideri

183、ng are to get a new job or stay in their current job.More than the global average,candidates from Africa,Canada,and East and Southeast Asia are considering professional certifications and graduate certificate programs as alternatives to GME.44School prestige/ranking and geographic location are candi

184、dates top decision factors globally when deciding where to apply and enroll.In researching programs,more than 7 in 10 candidates globally examine programs eligibility requirements,specific schools/universities offering similar programs,program rankings,program costs,and career outcomes.45Across regi

185、ons,the top two factors candidates say influence their application decision are school prestige/ranking and geographic location,and after candidates have applied and received their decisions,the most important factors influencing their enrollment decision are school prestige/ranking,geographic locat

186、ion,school culture,alumni network,school curriculum,and career services.4642Graduate Management Admission Council.(2019) Longitudinal Survey.43Ibid.44Ibid.45Ibid.46Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.32 Graduate Management Admission Council(gmac)Factors Inf

187、luencing Candidates Decision to Apply and Enroll,by Region of CitizenshipFactor Influenced Application Decision Importance to Enrollment Decision*Factor Influenced Application Decision Importance to Enrollment Decision*AfricaAustralia and Pacific IslandsSchool prestige/ranking63%8.7School prestige/r

188、anking77%9.0Geographic location 48%8.1Geographic location 59%8.5School culture 40%8.2School culture 41%8.6Alumni network38%8.1Alumni network41%8.3Career services37%8.3Quality/diversity of students36%8.1CanadaCentral and South AsiaSchool prestige/ranking73%8.5School prestige/ranking65%9.0Geographic l

189、ocation 59%8.2Geographic location 50%8.3School culture 42%7.6School culture 37%8.4Alumni network42%7.7Career services36%8.9Faculty reputation 36%7.1Alumni network34%8.6East and Southeast AsiaEastern EuropeSchool prestige/ranking64%8.8School prestige/ranking77%9.2Geographic location 45%8.0Geographic

190、location 50%7.7School culture 36%8.0School culture 36%7.7Alumni network35%8.3Alumni network35%7.7Core curriculum 29%7.9Faculty reputation 34%7.7Mexico,Caribbean,and Latin AmericaMiddle EastSchool prestige/ranking73%9School prestige/ranking65%8.9Geographic location 55%8.4Geographic location 55%8.5Sch

191、ool culture 49%8.4School culture 39%7.8Alumni network39%8.1Alumni network35%7.7Recommendation 38%7.0Recommendation 34%7.0United StatesWestern EuropeSchool prestige/ranking72%8.6School prestige/ranking74%8.9Geographic location 59%8.0Geographic location 59%7.9School culture 48%8.1Faculty reputation 45

192、%7.9Alumni network46%8.2School culture 38%7.5Career services38%8.2Core curriculum 36%7.7*Mean response on a scale of 0(not at all important)to 10(extremely important)Source:Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.Diversity in Graduate Management Education 2020

193、33Strategy and business analytics/data science are areas of curricular interest globally.In all 10 world regions examined,strategy appears in candidates top three curricular subject areas that they say are a“must-have”in their ideal curriculum.Other popular curricular subjects include business analy

194、tics/data science,leadership/change management,and corporate finance.47Candidates from particular regions express above average interest in specific subject areas.In some world regions,the data illustrate how candidates curricular interests align closely with their career goals.For example,among can

195、didates from Africa,entrepreneurship/innovation is the most common subject for candidates to identify as a“must-have,”and entrepreneurship is a career goal of nearly half of African candidates(43%),well above the global average.Similarly,investment banking and asset management are industries that ca

196、ndidates from East and Southeast Asia and Central and South Asia consider above the global average,and curricular subjects like business analytics/data science and corporate finance are more likely to be cited as a“must-have”by these candidates.4847Graduate Management Admission Council.(2019) Longit

197、udinal Survey.48Ibid.34 Graduate Management Admission Council(gmac)Candidates Ideal Business School Curriculum,by Region of CitizenshipCurricular Subject Percentage of RespondentsCurricular Subject Percentage of RespondentsAfricaAustralia and Pacific IslandsEntrepreneurship/innovation63%Strategy63%I

198、ntl management/business62%Business analytics/data science63%Strategy59%Leadership/change management60%Leadership/change management59%Corporate finance58%Business analytics/data science58%Intl management/business54%CanadaCentral and South AsiaStrategy68%Strategy65%Business analytics/data science68%Bu

199、siness analytics/data science63%Leadership/change management63%Leadership/change management59%Project management56%Intl management/business59%Corporate finance 54%Entrepreneurship/innovation 56%East and Southeast AsiaEastern EuropeBusiness analytics/data science66%Strategy69%Strategy58%Business anal

200、ytics/data science61%Intl management/business56%Corporate finance60%Leadership/change management52%Intl management/business58%Corporate finance 51%Leadership/change management56%Mexico,Caribbean,and Latin AmericaMiddle EastStrategy75%Strategy66%Leadership/change management69%Leadership/change manage

201、ment63%Business analytics/data science66%Project management56%Entrepreneurship/innovation66%Business analytics/data science54%Intl management/business60%Entrepreneurship/innovation 53%United StatesWestern EuropeStrategy66%Strategy64%Business analytics/data science63%Intl management/business57%Leader

202、ship/change management56%Business analytics/data science53%Corporate finance 50%Corporate finance53%Project management48%Leadership/change management52%Source:Graduate Management Admission Council.(2019) Longitudinal Survey.Diversity in Graduate Management Education 2020 35In several parts of the wo

203、rld,candidates professional aspirations are informed by their mobility goals.Examining candidates post-GME career goals by world region of citizenship elevates a key theme that in many parts of the world GME is a vehicle for international career aspirations.Goals like“work for a company where I can

204、travel internationally”and“work outside my country of citizenship”are goals for a third or more of candidates in Africa,Australia and Pacific Islands,Central and South Asia,East and Southeast Asia,Eastern Europe,Latin America,the Middle East,and Western Europe.Getting a raise or salary increase top

205、the list of goals of candidates in the United States(57%)and Canada(52%).Candidates from these regions are more likely than other regions to plan to use GME as an opportunity to get a job with a different company or change job functions or industries.49Consulting is a popular career track for candid

206、ates globally.Across world regions of citizenship,consulting services is either the first or second most common industry for candidates to consider for post-GME employment.Other common industries include financial services and technology.Globally,about half of candidates say they are considering con

207、sulting for their job function post-GME.Other common job functions of interest include strategy,finance/accounting,and general management.50Enjoying the work is the most important job characteristic to global candidates.In choosing a job,about 9 in 10 global candidates say having a job you enjoy doi

208、ng is either extremely important or very important.Across regions,its common for candidates to also say having opportunities for promotions or advancement and having a high-paying job are important to their career decision.More so than other regions,candidates in the United States say having job sec

209、urity(78%of US candidates)and having a job that offers good benefits(79%)are important.By a wide margin,candidates in Africa are more likely than other regions to say having a job that helps society(80%)and being able to take time off for family and childcare needs(72%)are important to their job sel

210、ection.5149Graduate Management Admission Council.(2019) Longitudinal Survey.50Ibid.51Ibid.36 Graduate Management Admission Council(gmac)Candidates Post-GME Career Goals,by Region of CitizenshipGoalPercentage of RespondentsGoalPercentage of RespondentsAfricaAustralia and Pacific IslandsWork for a com

211、pany where I can travel internationally44%Get a raise/salary increase43%Be self-employed/entrepreneur43%Obtain a senior-level position40%Work outside my country of citizenship42%Obtain an executive-level position40%Manage projects41%Work outside my country of citizenship35%Become CEO of a company36%

212、Live outside my country of citizenship35%CanadaCentral and South AsiaGet a raise/salary increase52%Work for a company where I can travel internationally43%Obtain an executive-level position45%Work outside my country of citizenship41%Manage people45%Obtain a senior-level position39%Obtain a senior-le

213、vel position43%Obtain an executive-level position37%Get a job with a different company37%Manage projects37%East and Southeast AsiaEastern EuropeGet a raise/salary increase39%Work for a company where I can travel internationally39%Work for a company where I can travel internationally35%Work outside m

214、y country of citizenship39%Work outside my country of citizenship34%Manage people39%Obtain a senior-level position33%Live outside my country of citizenship38%Obtain an executive-level position28%Manage projects36%Mexico,Caribbean,and Latin AmericaMiddle EastWork outside my country of citizenship51%W

215、ork outside my country of citizenship36%Get a raise/salary increase45%Work for a company where I can travel internationally34%Live outside my country of citizenship44%Manage projects34%Manage people43%Manage people33%Obtain an executive-level position40%Obtain a senior-level position33%United States

216、Western EuropeGet a raise/salary increase57%Work outside my country of citizenship37%Manage people46%Manage people36%Obtain a senior-level position43%Work for a company where I can travel internationally36%Manage projects40%Manage projects33%Obtain an executive-level position38%Live outside my count

217、ry of citizenship31%Source:Graduate Management Admission Council.(2019) Longitudinal Survey.Diversity in Graduate Management Education 2020 37Candidates Post-GME Industries Considered,by Region of CitizenshipIndustryPercentage of RespondentsIndustryPercentage of RespondentsAfricaAustralia and Pacifi

218、c IslandsFinancial services48%Consulting services52%Consulting services45%Financial services36%Investment banking and asset management39%Investment banking and asset management34%Technology33%Technology29%Government30%Government19%CanadaCentral and South AsiaConsulting services48%Consulting services

219、54%Technology37%Technology46%Financial services32%Financial services42%Investment banking and asset management32%Investment banking and asset management36%Government23%Consumer products26%East and Southeast AsiaEastern EuropeConsulting services48%Consulting services48%Financial services45%Financial

220、services40%Investment banking and asset management36%Investment banking and asset management37%Technology32%Technology31%Consumer products21%Consumer products16%Mexico,Caribbean,and Latin AmericaMiddle EastConsulting services49%Consulting services47%Technology44%Technology39%Financial services35%Fin

221、ancial services29%Investment banking and asset management29%Investment banking and asset management28%Consumer products25%Consumer products17%United StatesWestern EuropeConsulting services43%Consulting services47%Technology38%Financial services38%Financial services36%Investment banking and asset man

222、agement36%Investment banking and asset management27%Technology34%Consumer products17%Consumer products16%Source:Graduate Management Admission Council.(2019) Longitudinal Survey.38 Graduate Management Admission Council(gmac)Candidates Post-GME Job Functions Considered,by Region of CitizenshipJob Func

223、tionPercentage of RespondentsJob FunctionPercentage of RespondentsAfricaAustralia and Pacific IslandsConsulting51%Consulting57%Strategy51%General management46%General management51%Strategy45%Finance/accounting42%Finance/accounting33%Sales/business development31%Operations/logistics18%CanadaCentral a

224、nd South AsiaConsulting52%Consulting59%Strategy49%Strategy56%General management40%General management51%Finance/accounting29%Finance/accounting36%Marketing/advertising/brand management27%Marketing/advertising/brand management36%East and Southeast AsiaEastern EuropeConsulting52%Consulting52%Strategy47

225、%Strategy52%Finance/accounting43%General management50%General management39%Finance/accounting36%Marketing/advertising/brand management30%Sales/business development29%Mexico,Caribbean,and Latin AmericaMiddle EastStrategy61%Consulting53%Consulting52%Strategy51%General management51%General management43

226、%Finance accounting32%Finance/accounting30%Sales/business development27%Sales/business development30%United StatesWestern EuropeStrategy48%Consulting53%Consulting46%Strategy51%General management36%General management42%Finance/accounting35%Finance/accounting37%Operations/logistics26%Sales/business de

227、velopment25%Source:Graduate Management Admission Council.(2019) Longitudinal Survey.Diversity in Graduate Management Education 2020 39Globally,more than 9 in 10 business school graduates responding to GMACs Longitudinal Survey rate the overall value of their GME as good to outstanding,with limited r

228、egional variability.The majority of graduates across regions agree that their GME prepared them for leadership positions,developed their professional network,and prepared them to work in culturally diverse organizations,among Graduates from the world over express high satisfaction with GME overall.o

229、ther positive demonstrations of the impact of their GME on their careers.Across regions,the vast majority of graduates say their return on investment has been positive,including about a third globally that say it has been extremely positive.52The Served Market52Graduate Management Admission Council.

230、(2019) Longitudinal Survey.40 Graduate Management Admission Council(gmac)Diversity in Graduate Management Education 2020 41Graduates Assessment of the Impact of Their GME,by Region of Citizenship-Percentage in agreementMy GMEAfricaAustralia&Pacific IslandsCanadaCentral&South AsiaEast&Southeast AsiaE

231、astern EuropeLatin AmericaMiddle EastUnited StatesWestern Europe.prepared me for my chosen career77%59%64%65%72%65%70%54%72%66%.prepared me for leadership positions84%78%79%72%56%62%74%58%79%69%prepared me for international employment65%51%39%55%69%76%75%52%36%75%.prepared me to work in culturally d

232、iverse organizations82%76%62%69%75%82%81%60%63%78%offered me opportunities for quicker career advancement67%65%68%63%62%58%68%56%71%65%.increased my earnings power63%61%78%71%67%76%75%56%82%71%developed my professional network76%67%78%75%69%70%76%66%72%74%Source:Graduate Management Admission Council

233、.(2019) Longitudinal Survey.42 Graduate Management Admission Council(gmac)Rating of Overall Value of GME,by Region of CitizenshipGraduates Rating of the ROI of Their GME,by Region of CitizenshipSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Source:Graduate Management Admissi

234、on Council.(2019) Longitudinal Survey.Percentage of RespondentsPercentage of RespondentsRegion of CitizenshipRegion of Citizenship100%75%50%25%0%AfricaAfricaEastern EuropeEastern EuropeCanadaCanadaMiddle EastMiddle EastAustralia&Pacific IslandsAustralia&Pacific IslandsLatin AmericaLatin AmericaCentr

235、al&South AsiaCentral&South AsiaUnited StatesUnited StatesEast&Southeast AsiaEast&Southeast AsiaWestern EuropeWestern EuropePoorFairGoodExcellentOutstandingExtremely negative Moderately negativeSlightly negativeSlightly positive Moderately positive Extremely positive28%24%20%22%24%22%30%24%32%28%26%2

236、1%24%23%37%26%24%21%24%22%53%36%45%33%47%34%39%29%44%41%47%29%46%36%37%33%42%30%48%31%16%33%22%22%20%29%20%31%16%18%18%38%26%30%15%21%28%37%22%36%100%75%50%25%0%Diversity in Graduate Management Education 2020 43The Addressable MarketThe composition of the US population is undergoing a historic demog

237、raphic transformation,and young people are at the leading edge.The US Census Bureau currently projects that most Americans will be non-white by the year 2045,and higher education is at the leading edge of this shift because of the age cohort it predominantly serves.The US millennial generationpeople

238、 approximately 21 to 37 years oldis already 44 percent non-white,compared with just 32 percent of the population older than millennials.By 2027,the majority of Americans between the ages of 18 to 29 will be non-white.53US Race/Ethnicity53 Frey,W.H.(2018).The US will become minority white in 2015,Cen

239、sus projects.The Brookings Institution.https:/www.brookings.edu/blog/the-avenue/2018/03/14/the-us-will-become-minority-white-in-2045-census-projects/.44 Graduate Management Admission Council(gmac)Global GME Candidate Segmentation Playbook 45Black and Hispanic bachelors and masters attainment is on t

240、he rise.The number of bachelors degrees earned by black students increased 29 percent between 2007-2008 and 2016-2017,accounting for 10.5 percent of the total number of bachelors degrees earned by US citizens and permanent residents,up slightly from 10 years prior(10.0%).Masters degrees earned by bl

241、ack students increased 36 percent over the same period,earning 13.6 percent of the total in 2016-2017.54Hispanic bachelors degree attainment has grown rapidly,more than doubling between 2007-2008 and 2016-2017.Hispanic students earned 13.5 percent of the total number of bachelors degrees earned by U

242、S citizens and permanent residents in 2016-2017,up from 8.1 percent 10 years prior.Hispanic masters attainment has grown 82 percent over the same span of years,earning 10.2 percent of the total in 2016-2017.55These populations are more likely than white Americans to say a college education is import

243、ant today.According to Gallup,about half of US adults polled in 2019 say a college education is very important,down from 70 percent in 2013.Notably,black and Hispanic respondents perceptions of the importance of college were virtually unchanged over this period,and in the 2019 study,about two-thirds

244、 of each group said college was very important,compared with 44 percent of white Americans.5654 GMAC Research adheres to the US Census Bureaus race/ethnicity terms and definitions.United States Census Bureau.(2017).Race&Ethnicity.https:/www.census.gov/mso/www/training/pdf/race-ethnicity-onepager.pdf

245、.55National Center for Education Statistics.(2018).Digest of Education Statistics 2018.Tables 322.20 and 323.20.https:/nces.ed.gov/programs/digest/2018menu_tables.asp.56Marken,S.(2019).Half in US Now Consider College Education Very Important.Gallup.https:/ Graduate Management Admission Council(gmac)

246、57 US Department of Education.(2018).2015-16 National Postsecondary Student Aid Study.https:/nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2018466.58Ibid.59 US Bureau of Labor Statistics.(2019).Household data:11.Employed persons by detailed occupation,sex,race,and Hispanic or Latino ethnicity.https:/www.

247、bls.gov/cps/cpsaat11.pdf.60 Deloitte.(2018).Missing Pieces Report:The 2018 Board Diversity Census of Women and Minorities on Fortune 500 Boards.https:/ and Hispanic masters holders earn a salary premium,but they often dont have access to the same resources to help cover the costs of their education.

248、According to data from the US Department of Commerce,white Americans whose highest level of education is a bachelors degree have median annual earnings of US$50,000,and those with a masters degree or more earn a median of US$61,100,making for an earning premium of 22.2 percent.While black and Hispan

249、ic graduates have lower median earnings at both education levels compared with white Americans,their earning premium is greater.Black graduates with a masters degree or more earn 30.1 percent more than those with only a bachelors degree,and Hispanic graduates earn 24.6 percent more.For these populat

250、ions to achieve that benefit,however,they must take out loans more often than white Americans.For example,data from the US Department of Educations National Postsecondary Student Aid Study show that 81.3 percent of black masters graduates took out student loans to help finance their degree,with an a

251、verage debt load of US$51,699.For Hispanic masters graduates,72.9 percent took out loans with an average amount of US$42,411.Compare this with 57.3 percent of white Americans who took out loans with an average of US$41,506.57Additionally,black and Hispanic masters students are less likely to receive

252、 institutional and employer grant aid to help fund their education.According to the same US Department of Education study,19.1 percent of white masters students received grant aid from their employer,compared with 11.7 percent of black students and 14.0 percent of Hispanic students.Along the same li

253、nes,22.6 percent of white students received institutional grant aid,compared with 16.8 percent of black students and 21.3 percent of Hispanic students.58Black and Hispanic professionals are underrepresented in managerial and executive-level positions.According to data from the US Bureau of Labor Sta

254、tistics,black workers aged 16 and older account for 12.3 percent of the workforce but hold only 7.8 percent of management occupations and 4.1 percent of chief executive positions.Hispanic workers aged 16 and older account for 17.6 percent of the workforce but hold only 10.7 percent of management occ

255、upations and 6.2 percent of chief executive positions.59Data from Deloittes census of Fortune 500 boards show that black or African Americans held 8.6 percent of Fortune 500 board seats in 2018,up slightly from 7.6 percent in 2010.Hispanic or Latino Americans held 3.8 percent of seats in 2018,up sli

256、ghtly from 3.0 percent in 2010.60Diversity in Graduate Management Education 2020 47Black or African American Bachelors Attainment Hispanic or Latino American Bachelors AttainmentSource:National Center for Education Statistics.Digest of Education Statistics 2018.Table 322.20.https:/nces.ed.gov/progra

257、ms/digest/d18/tables/dt18_322.20.aspSource:National Center for Education Statistics.Digest of Education Statistics 2018.Table 322.20.https:/nces.ed.gov/programs/digest/d18/tables/dt18_322.20.asp07-0807-0808-0908-09Degrees ConferredDegrees ConferredPercentage of US Total Conferred to Black or African

258、 AmericansPercentage of US Total Conferred to Hispanic or Latino Americans300,000200,000100,0000300,000200,000100,000015%10%5%15%10%5%09-1009-1010-1110-11Academic YearAcademic Year 11-1211-1214-1514-1512-1312-1315-1615-1613-1413-1416-1716-17Percentage of US Total Conferred to Black or African Americ

259、ansPercentage of US Total Conferred to Hispanic or Latino AmericansTotal Bachelors Degrees Conferred to Black or African AmericansTotal Bachelors Degrees Conferred to Hispanic or Latino Americans48 Graduate Management Admission Council(gmac)Black or African American Masters Attainment Hispanic or La

260、tino American Masters AttainmentSource:National Center for Education Statistics.Digest of Education Statistics 2018.Table 323.20.https:/nces.ed.gov/programs/digest/d18/tables/dt18_323.20.aspSource:National Center for Education Statistics.Digest of Education Statistics 2018.Table 323.20.https:/nces.e

261、d.gov/programs/digest/d18/tables/dt18_323.20.asp07-0807-0808-0908-09Degrees ConferredDegrees ConferredPercentage of US Total Conferred to Black or African AmericansPercentage of US Total Conferred to Hispanic or Latino Americans125,000100,00075,00050,00025,0000125,000100,00075,00050,00025,000015%10%

262、5%15%10%5%09-1009-1010-1110-11Academic YearAcademic Year11-1211-1214-1514-1512-1312-1315-1615-1613-1413-1416-1716-17Percentage of US Total Conferred to Black or African AmericansPercentage of US Total Conferred to Hispanic or Latino AmericansTotal Masters Degrees Conferred to Black or African Americ

263、ansTotal Masters Degrees Conferred to Hispanic or Latino AmericansDiversity in Graduate Management Education 2020 49While black and Hispanic bachelors and masters enrollments and conferrals have been on the rise,the selective GME pipelinespecifically the GMAT pipelinehas not experienced the same lev

264、el of diversification,and black and Hispanic candidates continue to be underrepresented populations(URPs).61For example,despite accounting for 13.9 percent of the US millennial generation and 10.5 percent of total US bachelors conferrals,black examinees accounted for just 8.3 percent of US citizen G

265、MAT exams taken in testing year 2019,flat versus 10 years ago(8.5%).Hispanic Americans are 20.8 percent of the US millennial generation and earn 13.5 percent of the bachelors degrees but accounted for just 9.2 percent of US citizen GMAT exams taken in testing year 2019,up from 5.9 percent 10 years a

266、go.62 The Serviceable MarketBlack and Hispanic candidates are underrepresented in the selective GME pipeline.While the GMAT pipeline does not reflect the complete picture of entrants to selective GME programs,programs responses to GMACs annual Application Trends Survey indicate that these programs t

267、otal applicant pools have also made limited progress in diversifying.Each of the past five years,about 3 in 5 US GME programs that responded to the survey report flat or down application volumes from URPs.In an effort to reverse this trend and enhance the diversity of their classrooms,about a third

268、of US full-time MBA programs(32%)and part-time MBA programs(33%)report that they conduct special outreach to URP candidates as a part of their overall recruitment strategy.6361In the context of this report,the term underrepresented populations refers to black or African American and Hispanic or Lati

269、no American US citizens.62Graduate Management Admission Council.(2009-2019).GMAT testing data.63Graduate Management Admission Council.(2019).Application Trends Survey.https:/ Graduate Management Admission Council(gmac)Selective,nonprofit GME programs are losing many black candidates to for-profit in

270、stitutions.An area of GME that has excelled at attracting black students is programs at for-profit institutions,including programs at nationally known brands like the University of Phoenix,Strayer University,and Capella University.Black students in total accounted for 37 percent of for-profit GME de

271、grees conferred in 2015-2016a stark contrast to the nonprofit GME programs,where they accounted for 13 percent of degrees conferred.64A 2018 GMAC white paper titled Unpacking the Appeal of For-Profit Graduate Business Programs to US Underrepresented Populations explores this topic in detail,and prov

272、ides selective,nonprofit schools with actionable recommendations to inform their diversification efforts.64 US Department of Education,Institute for Education Sciences,National Center for Education Statistics.(May 2018).Retrieved from http:/nces.ed.gov.Excludes conferrals of nonresident aliens and r

273、ace/ethnicity unknown.65 National Center for Education Statistics.Table 306.30:Fall enrollment of U.S.residents in degree-granting postsecondary institutions,by race/ethnicity:Selected years,1976 through 2025.https:/nces.ed.gov/programs/digest/d16/tables/dt16_306.30.aspEnrollment projections suggest

274、 that underrepresented populations are where future domestic business school recruitment opportunities will be most abundant.In the context of an overall US candidate pipeline thats been flat to down for a number of years,these deficits in representation of non-white candidates are particularly trou

275、bling because enrollment projections suggest these populations are where future domestic business school recruitment opportunities will be most abundant.The US Department of Education projects that the share of Hispanic Americans enrolled at degree-granting postsecondary institutions will grow from

276、18.9 percent in 2017 to 20.5 percent in 2025.Over the same period,black or African American representation among enrolled students will increase from 13.6 percent to 14.3 percent,while the representation of white enrollees will decline from 56.0 percent to 53.7 percent.65US Citizen GMAT Score Sendin

277、g by Race/Ethnicity,TY 2019Source:Graduate Management Admission Council.(2018-2019).GMAT testing data.Race/EthnicityBlack or African AmericanHispanic or Latino AmericanWhite74.6%75.3%78.8%19.4%21.9%18.8%25%0%50%75%MBABusiness MastersOther ProgramsPercentage of GMAT Score Reports SentDiversity in Gra

278、duate Management Education 2020 51URP candidates predominantly send their GMAT score reports to MBA programs.Percentage of GMAT Exams Taken by US Citizens by Race/Ethnicity 201220112010Percentage of GMAT Exams Taken by Race/Ethnicity12%8%4%0%20132014Testing Year20152016201720182019Black or African A

279、mericanHispanic or Latino AmericanSource:Graduate Management Admission Council.(2009-2019).GMAT testing data.8.5%5.9%9.2%8.3%In testing year 2019,black candidates sent 74.6 percent of their score reports to MBA programs and 19.4 percent to business masters programs.The five largest states for black

280、or African American GMAT exams taken are New York(12.2%),Texas(10.5%),Georgia(8.9%),California(7.0%),and Florida(5.7%).66Hispanic candidates sent 75.3 percent of their score reports to MBA programs and 21.9 percent to business masters programs.Just four states account for nearly 2 in 3 GMAT exams ta

281、ken by Hispanic American candidates:Texas(19.9%),California(19.8%),Florida(12.3%),and New York(10.2%).6766 Graduate Management Admission Council.(2018-2019).GMAT testing data.67Graduate Management Admission Council.(2018-2019).GMAT testing data.68Graduate Management Admission Council.(2019) Longitud

282、inal Survey.69Graduate Management Admission Council.(2018).Unpacking the Appeal of For-Profit Graduate Business Programs to US Underrepresented Populations.70Graduate Management Admission Council.(2019) Longitudinal Survey.71Graduate Management Admission Council.(2019) Longitudinal Survey.52 Graduat

283、e Management Admission Council(gmac)Top 10 US States for Black or African American GMAT Testing,TY 2019Top 10 US States for Hispanic or Latino American GMAT Testing,TY 2019State or Region of ResidencePercentage of Black or African American Exams Taken New York 12.2%Texas10.5%Georgia8.9%California7.0

284、%Florida5.7%North Carolina4.6%Maryland4.4%Alabama4.3%Illinois4.3%New Jersey 3.2%State or Region of ResidencePercentage of Hispanic or Latino American Exams Taken Texas19.9%California19.8%Florida12.3%New York10.2%Illinois3.5%New Jersey 3.0%Georgia2.1%Massachusetts2.1%District of Columbia2.0%Arizona1.

285、9%Source:Graduate Management Admission Council.(2018-2019).GMAT testing data.Source:Graduate Management Admission Council.(2018-2019).GMAT testing data.URP candidates tend to consider GME later in their educational and career journeys and are more cost sensitive compared with non-URP candidates.A qu

286、arter of URP candidates(25%)report that they first considered GME after more than three years in the workplace,compared with 20 percent of US non-URP candidates.68 This speaks to a theme of past GMAC research on underrepresented populations that URP students are less likely to be exposed to the poss

287、ibility or even the existence of graduate management education at a young age,and as a consequence of those who do make it into the pipeline,they are more likely to express in the survey that the timing of their first consideration of it came while already in the workforce.The challenge of taking on

288、 exposing students to business at a young age is a tough one for business schools to tackle because its roots stem from multigenerational systemic inequities,and its an investment with a significant amount of lead time and no guarantee of a return for any one specific program or school.A recent GMAC

289、 white paper highlights an example of a partnership between a local nonprofit and a business school to expose high school students from diverse backgrounds to business career paths and develop their business literacy and leadership skills.69Common triggers for black and Hispanic candidates to first

290、consider GME are that they wanted to apply for a job but lacked the required skills or degree to be competitive(37%)or simply that it was a convenient time to go to school(35%).70Cost of the program is the most often cited potential barrier to the pursuit of GME among black(60%)and Hispanic(66%)cand

291、idates.The prospect of taking on debt to pursue GME,as well as their current debt level,are also more common reservations among URP candidates than non-URP candidates.URP candidates tend to rely more on grants,fellowships,scholarships,and support from parents to finance their degree than US non-URP

292、candidates.URP candidates are more likely than US non-URP candidates to consider less expensive alternatives to GME,including professional certifications(37%)and/or graduate certificate programs through a university(24%).71Diversity in Graduate Management Education 2020 53URP candidates are more lik

293、ely to research and evaluate programs on the basis of cost and financial aid than non-URP candidates.Underrepresented Populations(Total)Black or African AmericanHispanic or Latino American I always planned to pursue a graduate business education at this point(54%)I always planned to pursue a graduat

294、e business education at this point(55%)I always planned to pursue a graduate business education at this point(54%)Wanted to apply for a job,but lacked required skills/degree to be competitive(37%)Wanted to apply for a job,but lacked required skills/degree to be competitive(37%)Convenient time to go

295、to school(39%)Convenient time to go to school(35%)Convenient time to go to school(30%)Wanted to apply for a job,but lacked required skills/degree to be competitive(37%)I realized I lacked specific knowledge to do my current job(19%)I realized I lacked specific knowledge to do my current job(21%)I ha

296、d the financial resources to apply(20%)My parents suggested I apply(16%)My parents suggested I apply(16%)I realized I lacked specific knowledge to do my current job(19%)In researching programs,the most common factors for URP candidates to examine are programs eligibility requirements,specific school

297、s/universities offering similar programs,program costs,program rankings,and the programs curriculum.Compared with non-URP candidates,URP candidates are more likely to research program costs and financial aid options.72In deciding where to apply,for both black and Hispanic candidates,reputation/ranki

298、ng and expected employment outcomes are the most important.Cost of the program is a significantly greater factor for black candidates than for non-URP and Hispanic candidates.The most important factors influencing URP candidates enrollment decisions are school prestige/ranking and alumni network,fol

299、lowed by career services/career placement and school culture.73Source:Graduate Management Admission Council.(2018-2019).GMAT testing data.Triggering Events That Prompted Candidates to Begin Their Journey to GME,by Race/Ethnicity 72Graduate Management Admission Council.(2019) Longitudinal Survey.73Gr

300、aduate Management Admission Council.(2019).B-School Conversion Factor Survey.54 Graduate Management Admission Council(gmac)Factors Influencing URP Candidates Decision to Apply and EnrollFactor Percentage Who Say the Factor Influenced Their Application Decision Relative Importance of Factor to Enroll

301、ment Decision*School prestige/ranking64%8.8Geographic location52%8.1Alumni network46%8.4School culture 44%8.2Quality/diversity of student body39%7.7Interaction with students/faculty/alumni35%7.8Career services/career placement32%8.2Recommendation of friends/family/colleagues30%6.3Class size28%6.3Fac

302、ulty reputation27%7.1Availability of electives/concentrations27%7.7Interaction with admissions staff26%7.1Scholarships25%6.8Core curriculum25%7.7School facilities23%6.9Program schedule20%7.0Anticipated program cost18%6.6Teaching method17%6.8International study options14%5.1Student services11%7.3Poli

303、tical uncertainty1%2.1*Mean response on a scale of 0(not at all important)to 10(extremely important)Source:Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.Diversity in Graduate Management Education 2020 55URP candidates seek business school experience with diverse,clos

304、e-knit student body that puts an emphasis on team learning.URP candidates ideal business school culture is one that is collaborative with a team emphasis in a small,close-knit classroom setting.They want a rigorous,academically focused,interdisciplinary education centered around case studies,with fl

305、exible curricular options.74Most URP candidates preference is to study full time(64%)in a program that is taught primarily in person(65%).About a quarter prefer a broad,general focus to their program(27%),while about half prefer either a functional(27%)or industry(23%)focus.75A majority of URP candi

306、dates say their ideal curriculum would include strategy,business analytics/data science,leadership/change management,corporate finance,and project management.Notably more URP candidates than non-URP candidates say social entrepreneurship/nonprofit,international management/business,entrepreneurship/i

307、nnovation,brand/product management,and human resource management are a part of their ideal curriculum.76Most URP candidates plan to pursue an internship during their program(56%),and about half plan to participate in student clubs(49%).A greater share of URP candidates than non-URP candidates plan t

308、o work either full-or part-time while enrolledespecially black candidates.Overall,about half of black candidates plan to work either full-(47%)or part-time(50%)while enrolled.77URP Candidates Ideal Business School CurriculumPercentage of RespondentsSource:Graduate Management Admission Council.(2019)

309、 Longitudinal Survey.Curricular SubjectStrategyBusiness analytics/data scienceLeadership/change managementEntrepreneurship/innovationProject managementOperations managementCorporate financeInternational management/businessGeneral managementMarketing and communications63%51%54%62%39%48%43%61%56%46%60

310、%47%51%45%52%43%42%50%45%43%25%0%50%75%Hispanic or Latino American Black or African American 74Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.75Graduate Management Admission Council.(2019) Longitudinal Survey.76Ibid.77Ibid.56 Graduate Management Admission Council(gmac

311、)URP Candidates Ideal School Culture Respondents indicate their school culture preferences by selecting one of four points between opposing descriptors Competitive8%15%41%37%CollaborativeHomogeneous student body5%8%31%56%Heterogeneous student bodyPersonal62%33%5%1%ImpersonalLarge class5%2%53%21%Smal

312、l classResearch oriented5%27%47%22%Teaching orientedInterdisciplinary25%38%26%10%Concentration focusTeam emphasis38%40%17%5%Individual emphasisFormal8%29%45%18%InformalMore rigorous24%54%20%2%Less rigorousClose-knit community55%36%7%2%Loosely connected communityCase studies25%47%23%5%LecturesAcademi

313、c focus17%38%37%8%Co-curricular focusLarge city38%38%18%6%Small city/townFlexible curriculum28%41%24%7%Structured curriculumSource:Graduate Management Admission Council.(2019).B-School Conversion Factor Survey.Diversity in Graduate Management Education 2020 57URP candidates are chiefly planning to p

314、ursue careers in consulting,technology,and financial services.URP candidates and non-URP candidates share the same top three industries considered(consulting services,technology,and financial services)and top four job functions considered(strategy,consulting,general management,and finance/accounting

315、).URP candidates are more interested than non-URP candidates to work in government,media/entertainment,and professional services industries,as well as marketing/advertising/brand management,human resources,and information technology/data science roles.78URP candidates top post-GME goal is to earn a

316、bigger salary(53%of URP candidates),though not to the same degree as non-URP candidates(58%).Their next top goals are to obtain a senior-level(45%)or executive-level(42%)position,followed by managing people(41%)and projects(39%).URP candidates are notably more likely than non-URP candidates to say b

317、ecoming CEO(31%)and being an entrepreneur(29%)are career goals.79In choosing a job,URP candidates are more likely than non-URP candidates to say its important that it be high paying,provides job security,offers the ability to take off time for family or childcare needs,and helps society.80URP Candid

318、ates Post-GME Career GoalsPercentage of RespondentsSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Post-GME Career GoalGet a raise/salary increase Obtain a senior-level positionObtain an executive-level positionManage projectsManage peopleWork for a company where I can travel

319、 internationallyBecome CEO of a companyBe self-employed/entrepreneurGet a job with a different companyChange job functions/occupationObtain a mid-level position56%40%26%45%29%39%22%50%42%37%43%38%40%36%45%28%30%29%38%34%31%29%20%0%40%60%Hispanic or Latino American Black or African American 78Graduat

320、e Management Admission Council.(2019) Longitudinal Survey.79Graduate Management Admission Council.(2019) Longitudinal Survey.80Graduate Management Admission Council.(2019) Longitudinal Survey.58 Graduate Management Admission Council(gmac)URP Candidates Post-GME Industries ConsideredURP Candidates Po

321、st-GME Job Functions ConsideredPercentage of RespondentsPercentage of RespondentsSource:Graduate Management Admission Council.(2019) Longitudinal Survey.Source:Graduate Management Admission Council.(2019) Longitudinal Survey.IndustryJob FunctionTechnology Consulting servicesFinancial servicesInvestm

322、ent banking and asset managementMedia/EntertainmentConsumer productsGovernmentMedia and communicationProfessional servicesNonprofitStrategyConsultingGeneral management Finance/accountingOperations/logistics Marketing/advertising/brand managementInformation technology/data scienceSales/business devel

323、opment Human resources 40%45%36%33%19%24%41%45%21%29%26%39%14%22%40%46%34%40%22%24%40%42%23%28%26%31%18%23%16%22%18%7%17%23%28%17%17%16%25%25%0%0%50%50%Hispanic or Latino American Hispanic or Latino American Black or African American Black or African American Diversity in Graduate Management Educati

324、on 2020 59Ninety-five percent of URP graduates who participated in GMACs Longitudinal Survey rate the overall value of their GME as good to outstanding.The vast majority say that their GME made their professional situation better(84%),and specifically,80 percent agree GME prepared them for leadershi

325、p positions,73 percent agree it prepared them for their chosen career,and 66 percent agree its offered them opportunities for quicker career advancement.81URP graduates report high levels of satisfaction with their experience and outcomes.Eighty-three percent say their return on investment is positi

326、ve and 79 percent agree its increased their earnings power.Seventy-three percent agree GME developed their professional network,and most would recommend GME to others,as evident in URP graduates 35 Net Promoter Score,a measure of consumer loyalty.8281Graduate Management Admission Council.(2019) Long

327、itudinal Survey.82Ibid.The Served Market60 Graduate Management Admission Council(gmac)Rating of Overall Value of GME,by Race/EthnicitySource:Graduate Management Admission Council.(2019) Longitudinal Survey.Percentage of RespondentsRace/Ethnicity100%75%50%25%0%Black or African AmericanHispanic or Lat

328、ino American25%26%43%41%28%28%PoorFairGoodExcellentOutstandingPercentage in AgreementURP Graduates Assessment of the Impact of Their GMEMy GME.Source:Graduate Management Admission Council.(2019) Longitudinal Survey.25%0%Impact Factors50%75%100%.increased my earnings power.prepared me for leadership

329、positions.developed my professional network.prepared me for my chosen career.offered me opportunities for quicker career advancement.prepared me to work in culturally diverse organizations.prepared me for international employment77%30%32%21%7%6%4%36%28%18%8%5%5%82%74%78%70%76%74%75%63%71%68%63%41%42

330、%Hispanic or Latino American Hispanic or Latino American Black or African American Black or African American Female Graduates Ratings of the ROI of Their GMEExtremely positiveModerately positiveSlightly positiveSlightly negativeModerately negativeExtremely negativePercentage of Respondents50%40%30%2

331、0%10%0%Rating of ROISource:Graduate Management Admission Council.(2019) Longitudinal Survey.Diversity in Graduate Management Education 2020 61The Addressable MarketBachelors enrollments have steadily increased globally.According to data from the UNESCO Institute of Statistics,bachelors equivalent en

332、rollments have steadily increased globally,growing from 133 million to 152 million between 2013 and 2018an increase of 14 percent.83Popular fields of study vary in different country contexts,with business being among the top fields in many key markets.In the United States,for example,the most common

333、 field of study is health/welfare,followed by business and art/humanities.In India,social science,business,and natural science/math comprise the top three,and in Hong Kong,SAR,China,business is the top field,followed by engineering/manufacturing and art/humanities.84ExperienceUndergraduate Major83UNESCO Institute for Statistics.(2019).UIS Statistics Database.Retrieved on February 3,2020.84Ibid62 G