Veritas Prep Releases Annual MBA Applicant Research; 67% of MBA Applicants Would Still Apply, Even if Grads Couldn't Find Jobs in Their Desired Field

MALIBU, CA--(Marketwire - Sep 27, 2011) - Veritas Prep, a leading GMAT prep and MBA admissions consulting provider, today released the results of its annual "Inside the Minds of MBA Applicants" research report. The study found that despite the economic upheaval over the past several years, an MBA from a top business school remains a coveted credential among young professionals as well as among those mid-career ready to pursue other professional options. Among the results released today, Veritas Prep found that 67 percent of MBA applicants would still apply, even if business school graduates were unable to find jobs in their desired fields.

The survey of prospective and current business school students was conducted in June and July of 2011 and included responses from 867 individuals. One quarter of participants are currently enrolled in an MBA program; the rest plan to apply to business school in the future. A breakout of select findings:

Motivations for Pursuing an MBA

• Perhaps reflecting the ongoing and critical impact business has had on the country's economic circumstances over the past several years, the report found that the motivation for pursuing an MBA cited most often was an interest in business and the way it shapes society (71%), while attaining a prestigious, high-paying job was the motivator for just over half (54%) of respondents.
• 70 percent of respondents hoped to use their MBA to switch careers, while only 16 percent planned to use the degree to advance in their current career, signaling an extraordinarily high rate of intended employment "churn" upon graduation.

Professional Aspirations and Concerns

• Leading concerns among current and prospective business school students included finding a long-term career path that appealed to them (73%) and maintaining a healthy work/life balance once they started working (62%). These concerns were closely followed by finding a job that enabled them to pay off their student loan debt (60%).
• Consulting (25%), management (19%) and banking and finance (18%) continue to be the three most coveted areas in which to land positions upon graduation.

Business School Research and Selection

• When asked about the most important features in their business school of choice, survey participants indicated that prestige and ranking (82%) was the leading factor, followed closely by networking opportunities (80%) and, at a bit of a distance, academic rigor (65%). Surprisingly, "alumni base," which was the number three preferred factor last year (77%), was ranked as a priority by only 53 percent of respondents this year.

For a copy of the white paper, "Inside the Minds of MBA Applicants," with the full results and analysis, or to inquire about Veritas Prep's MBA admissions consulting services, visit www.veritasprep.com or call 1 (800) 925-7737.

About Veritas Prep
Veritas Prep is the world's largest privately-owned GMAT preparation and admissions consulting provider, offering industry-leading programs to help applicants improve their test scores and gain admission to the world's best graduate schools. Founded in 2002 by graduates of the Yale School of Management, Veritas Prep now offers live GMAT prep instruction in more than 80 cities worldwide, as well as interactive online courses available everywhere. Additionally, Veritas Prep offers industry-leading admissions consulting services for applicants seeking admission to the most competitive business schools, law schools, and medical schools in the world.