GMAC: Financial Constraints Restrict 29% Women from Pursuing MBA Programmes

According to a paper published by the GMAT conducting body – GMAC, one out of every three women across the world does not pick MBA programmes due to financial constraints. With more men enrolled in MBA programmes, experts have been trying to find out the reason behind the gender disparity in these globally accepted programmes.

President and CEO of GMAC, Sangeet Chowfla stated that women have progressed in the post-graduation programmes but have not yet outperformed men, especially in the MBA domain.

The aim of the study was to evaluate the participation of women in the post-graduate level business studies. Most of the female business aspirants stated that financial aspects are their biggest problem. Most of the women want scholarships and financial assistance before accepting offers from business schools.

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On the other hand, 33% of the men stated that they wait for multiple offer letters from different schools before accepting.

Gender difference is maximum in the US where 38% women stated that they don’t accept admission offers due to financial problems while only 20% males turned down offers. The study also states that getting a scholarship is a bigger challenge for men as compared to women.

Most of the Indian candidates rely on their parents to pay for their degrees. This includes 53% men and 48% of Indian women who apply for higher education. Whereas in the US, 25% of women and 33% of men take funds from their parents to pay their fee.

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The behavior of candidates from different nationalities varies depending on the opportunities and student background. However, on a global scale, there are more women representing the applicant pool than men in the various business master's programmes including marketing, accounting and management.