Select Page
← Go Back

Brexit has had a massive impact on nearly all parts of the UK’s economy and society since its decision to leave the world’s largest trading bloc, the EU, in 2016. There is at least one sector, however, where it seems to be having little impact: the country’s business schools. In fact, according to recent figures released by the Graduate Management Admission Council (GMAC), which oversees global MBA admission exams, UK business schools seem to be exceeding all expectations by attracting as many non-UK applicants as ever.

Over the past two years,  international business schools have reported a global drop in applications for business masters, with 56% of US business schools stating they had received fewer applications. As a nearly exact counterpoint to this, 59% of their UK counterparts have reported growth in their postgraduate applications, with 75% seeing an increase in admissions from international students.

International Competition for Talent

The reason for the stark comparison between the fortunes of US and UK business schools comes down to a number of factors, though mainly the greater cost-benefit results of studying in the UK. MBAs in the US are considerably more expensive than in the UK, but the UK has an excellent jobs market at the moment, with an unemployment rate of around 4%, while 18 of its universities rank in the top 100 in the world.

Understandably for international students, making such a large investment in a US MBA can be difficult and may not even be the best option if a UK degree would provide the same opportunities. London is one of the world’s great financial centers, and the UK is increasingly becoming a hub for tech investment, providing plenty of potential for young business grads to set themselves on a pathway to success.

Brexit and the UK’s Changing Situation

Despite the great political and financial uncertainty created by Brexit, other figures reported by GMAC show that it’s not playing such a significant role in students’ decision-making, with 54% declaring it had no impact on their choice. While that may be true directly, the impact of that uncertainty on forcing down the value of the UK’s pound sterling at least indirectly made tuition fees and living expenses cheaper for most students.

Increase your business agility with Clarizen’s project management software

This has certainly made the job of promoting UK business schools abroad easier, with the government stepping in to support them by dropping restrictions and allowing students to stay on in the country to search for work for two years following graduation. In a time of tightening immigration controls, even for those coming to study, having such guarantees are bound to hold sway with international students.

The International State of Business Schools

That tension over immigration and trade might be what’s fueling the current drop in business grad school students. It is not just uncertainty about the global model of trade, but also about fitting into different corporate cultures. As GMAC’s president and chief executive, Sangeet Chowfla, pointedly noted, “In today’s knowledge economies, if you do not import talent you will eventually end up exporting growth because you will lack the diversity of thinking.”

What are you waiting for?

Learn why Clarizen is the right choice to engage your workforce and accelerate your business.

Learn How to Get 30% Higher Return on PPM Assets. Get the Full Gartner Market Guide
Preview: Gartner Market Guide for Adaptive Project Management & Reporting

Pick a PPM solution with the best capabilities to match your unique needs

In the Gartner Market Guide for Adaptive Project Management & Reporting guide, Gartner, Inc. provides recommendations and evaluation criteria for executives and PMO leaders assessing Project and Portfolio Management (PPM) solutions. This guide outlines the adaptive project management and reporting process flow as well as a market review of current providers in the following categories:

  • - Existing pure-play PPM providers
  • - Collaborative work management (CWM) providers
  • - Enterprise agile planning (EAP) providers
  • - Technology Platform providers from other markets

The guide provides insight into how well a product or service fulfills certain functional capabilities – with a forward-looking market direction and analysis provided.

In the report, Gartner, Inc. mentions/states that “by 2024, 50% of all program and portfolio management (PPM) leaders will integrate complementary technologies to enable portfolio decision making and adaptive work management for digital business evolution.”

Clarizen offers a complete solution that connects work across the enterprise, turning ideas into strategies, plans, and action. With Clarizen, organizations can work the way they want to work and have real time visibility across all workstreams in their portfolio. This keeps teams focused on the things that matter, provides the real-time information needed to make more accurate and timely decisions, and delivers results faster to meet and even exceed company goals and customers’ expectations.

Discover what sets Clarizen apart from other vendors in the marketplace.
If you like the preview and want the FULL PDF file, please provide your information and you can download it
Buyer’s guide to project management software