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29% women do not pursue MBA due to financial constraints: says GMAC

Published On: 20 Mar 2017 | Last Updated On: 20 Mar 2017

MBA being the widely chosen field among students in India as well as abroad, provides its students with a very broad perspective into the business world. But if you closely watch, an imbalance in the ratio of men and women are to be found where more male candidates are seen to be opting for MBA than female candidates.

What is the reason for this skewed *** ratio? A white paper published by the US based Graduate Management Admission Council (GMAC) disclosed that one in every three women around the world does not choose MBA due to financial constraints. GMAC conducted its survey on 5, 900 female and male counterparts from over 15 countries.

The keen review came into light on International Women's Day. Sangeet Chowfla, President and CEO of GMAC stated that a phenomenal progress has been witnessed in women n attaining business master's degrees but have not caught up with men in the share of MBAs earned. Also she added that their extensive global segmentation research and market intelligence looked at several important underlying factors that contribute to this growing participation of women in business master's and lack of parity in MBAs, with financial concerns being the number one issue cited by female applicants.

In short, women candidates willing to pursue a managerial career have been seeking for Scholarships and financial aid in turn making it as their top priorities. In India, the candidates are seen relying on their parents to fund for their degree. The statistics shows that 53% of men and 48% of women rely on their parents to undertake the full or some of the funding for their degree.

On the other hand, in the US, only 25% and 33% of women and men rely on parents for their finance. Also in the US over 38% of the women deny their admissions due to financial reason when compared to 20% of men.

The President and CEO of GMAC also added that "It's easy to make the mistake of thinking of women as a monolithic block and to view their lack of parity in MBA classrooms as a failure on the part of business schools". "The insights (from the study) clearly reveal that women are distinct from men in what they are seeking from their business education experience, and their behaviors differ between countries and behavior types."

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