GMAT numbers up in Asia-Pacific region
Ashish Bhardwaj
GMAT test takers in Asia surpassed 110,000 in 2012, a 56-percent increase from 2008 and 29 percent from 2011, according to the Graduate Management Admission Council, the Virginia-based international non-profit organization that owns the GMAT exam, recently released its latest Geographic Trends report. The total number of GMAT tests administered in 2012 was 286,529.
“Asia is a huge growth market. There is robust demand for management education in the Asia-Pacific region, pretty much across for every job area, and this is stronger than it is in the U.S.” the new vice-president of GMAC’s Asia-Pacific regional office, Ashish Bhardwaj who is based in India, told the Korea JoongAng Daily in an exclusive phone interview earlier this month. GMAC’s Asia-Pacific offices in Hong Kong and India opened in 2010, and Bhardwaj was the first GMAC employee working from Asia before he became vice president of the region at the end of 2012.
“Asia-Pacific companies are more likely than U.S. companies to hire in the coming year,” he said, adding this provides ample opportunities for professionals with business degrees in the region.
In Korea, GMAC has 60 programs over 13 institutions, including 11 business schools. Only three schools - Kaist, Yonsei and Korea Universities’ Business School - are members of the GMAC. GMAC accepts members by invitation-only.
GMAT testing among Koreans was 5,275 last year, a slight increase after a couple years of decline since 2008 with 7,591 students taking the GMAT.
Bhardwaj said that the “profile of the school has to be such that it automatically qualifies for membership,” which enables members to be part of the council’s governance, but GMAC is looking to expand membership and working closely with top schools in Asia.
The online-based GMAT which tests verbal, mathematical, reasoning and writing skills is accepted by 1,500 universities in 82 countries to select candidates for their programs.
He added GMAC also develops resources for test takers and business schools, including its recently launched online soft-skill assessment program, Reflect, designed with 800 corporations and business schools. It assesses you on 10 areas and advises on behaviors to stop or adopt. “Soft skills are absolutely essential for success in business,” he said.
“The whole idea of education is something that resonates strongly with the Asian ethos. Families want students, their children, to do well, and education is seen as a life changer, or a career multiplier .?.?. that can in turn lead to better quality of life,” explained Bhardwaj regarding the increased business school applicants in the region.
According to the trend reports, Korea has a lower percentage of women, hovering around 30 percent, who take the GMAT than other Asian countries such as Taiwan, Vietnam or Thailand, in which 50 percent of exam takers are women. In China, 65 percent of exam takers are women.
Korea also bucks the trend in that its average business test takers are older than the Asian average, with just 9 percent of examinees younger than 25. By comparison, some 58 percent of Asian test takers on average are under 25.
“Business schools are looking for more diversity and that alone is a good reason for more South Korean women to pursue a career in business,” said Bhardwaj.
According to GMAC reports, the number of GMAT examinee scores sent to Korea is up from 149 in 2008 to 240 last year. But it still comprises only 0.41 percent of all score reports sent to Asian destinations, a total of 58,919 in 2012.
Of Asian test takers, 71 percent sent scores to North America, 12 percent to Europe and 16 percent to Asia.
He added that Korean business schools may appeal to foreign applicants as they offer insight into the “Korean way of business,” picking up language skills and opportunities to be recruited by a multinational Korean company.
He urged test takers to take opportunity of diverse programs around the world, not just the most popular destinations, especially to take advantage of the option to send test reports free of cost to up to five programs. Korean students send on average two reports which show they “already have very fixed choices” but may be missing out on opportunities.
By Sarah Kim [sarahkim@joongang.co.kr]
with the Korea JoongAng Daily
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