education MBA-applicants drop 20 percent

The Shanghai Daily reports a drop of 20 percent of students applying for an MBA in China. This year 945,000 aspiring students applied to sit on the entrance exam, 20 percent less than last year. Fudan University, hosting one of the more famous domestic MBA-schools, reports a drop of 18 percent.
Partly future students turn to alternatives like Public Administration of CPA, as the prospects for getting a job with an MBA degree look rather gloomy. The number of MBA-schools in China has been exploding in the past five year, but quality has been a problem.
Many managers turn to American, European or Australian schools as an alternative. Their employment possibilities have not been better, but there are not figures on a possible drop in attendence for international MBA-schools.
While China's economy has been booming, the uptake of qualified managers did not keep pace, as only a small part of the Chinese companies is willing to pay an salary according to international standards. Also salary levels at international companies have seen a downward trend because of the economic crisis outside China.