- Manhattan GMAT survey results challenge conventional wisdom that B-school prospective applicants are seeking refuge from the economic downturn -

NEW YORK, June 18 /PRNewswire/ -- The next wave of business school applicants are likely to pursue a degree out of hope rather than fear. A new survey by Manhattan GMAT, a national test preparatory firm, reveals that an overwhelming majority of potential applicants view their current job status positively. The GMAT survey also shows that potential students feel optimistic about their economic future.

The survey, which measured the opinions and aspirations of prospective business school applicants preparing to take the GMAT entrance exam, found that 82% of survey respondents are currently employed full time, and 78% feel at least stable, if not secure, in their current job status.

These results contradict current conventional wisdom that today's business school applicants are looking for alternatives to unemployment or view business school as a way to escape the current economic recession. In fact, only 3% of respondents considering business school said they were taking a break from their career in hopes of better employment options.

Additionally, respondents reported an optimistic outlook on the future, with nearly 60% believing that the economic environment when they finish B-school will be much better than it is today. 55% believe that their first job after business school will offer compensation that is dramatically higher than their current compensation level.

"Given the bleak economic picture reported in the media, these survey results were surprising," said Manhattan GMAT CEO Andrew Yang. "There's a perception that students might be pursuing business school due to recession-related employment fears or setbacks, but we found that prospective MBA students are optimistic, secure in their jobs, and are focused on the benefits an MBA can bring professionally."

Other surprising findings included:

• Only 24% of respondents plan a career in finance; only 20% want to pursue a business consulting career.

• 56% of respondents are planning a career outside of the traditional MBA fields of finance and consulting.

• Over 80% intend to pay for business school and GMAT prep courses on their own.

• Only 29% are considering business school in order to change career paths, while 46% want to pursue an MBA for better opportunities in their current field.

• 19% are planning to pursue work at a startup or start their own business after completing an MBA.

"Our survey shows that today's business school students remain largely committed to their current career paths," said Mr. Yang. "Contrary to what's been reported so far, most of our students are focused on the next step in their careers rather than rethinking their ambitions."

About Manhattan GMAT

Manhattan GMAT was founded in 2000 by Zeke Vanderhoek, a Yale alum, who was then teaching for Teach for America in New York City. The Company quickly grew and distinguished itself by having the highest standards and compensation for teachers in the test prep industry. Exclusively focused on the Graduate Management Admission Test, Manhattan GMAT now serves many major corporate clients, including Goldman Sachs, McKinsey, JP Morgan, and Google, among other companies. Manhattan GMAT currently conducts corporate classes, group classes, and private instruction throughout the United States and Canada, as well as offering online classes available worldwide. Its acclaimed GMAT Strategy Guides are available in Barnes and Noble and through amazon.com. For more information, go to www.manhattangmat.com.

SOURCE Manhattan GMAT

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