A Wall Street Journal article reports on the increase in international recruiting by American business schools, a move intended to counterbalance the decline in applications from foreign applicants.
In 2009-2010, only 24.8% of students enrolled in U.S. business schools were international students. Two years earlier that percentage was 26.5%. Schools like Wharton or Harvard Business School have fared better than schools with a lesser global demand. At U. of Washington’s Foster School of Business, for example, only 16% of the class of 2012 is international.
It is important that b-schools maintain a strong international student body “because it helps boost the prestige and global credibility of their programs…and helps recruiters portray the school as sophisticated and diverse…and it gives students the opportunity to cultivate overseas contacts.”
Financial benefits also compel business schools to scout abroad for students—out-of-state students (of which international students are included) pay significantly higher tuition fees, sometimes an additional $12,000 or more per student per year.
One reason for the drop in international enrollment is the fact that business schools in Asia are growing (in size and in reputation) by leaps and bounds. Whereas a decade ago three-quarters of all international students attended U.S. business schools, today, that number is now down to about 60%. Another reason for the decline is the difficulty the job market poses international students.
Schools are boosting their recruiting efforts by paying more visits to countries like Korea, Singapore, India, and China, by hosting alumni-run recruiting fairs throughout Asia, and by bolstering their online international network through recruiting videos and online fairs.
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