Alberto Fumo is the type of student business schools crave. His high marks and international experience landed the budding financier admission offers at Yale University’s School of Management and Cornell University’s Johnson School. But the Italian native chose London Business School rather than face a new trifecta of trouble with a U.S. MBA: an imminent drop in work visas, a hiring slowdown for MBAs, and less school financial aid.
After a decade-long buildup of overseas applicants seeking the prestige–and salary–of a U.S. business degree, B-schools are concerned about the growing wariness of others like Fumo. In the 1990s, international students became the fastest-growing pool of prospective MBA students, helping push total applications to record highs in 2001. Now, in short order, the weak economy, coupled with a looming drop in the availability of H-1B work visas, is taking its toll.
Author: Brian Hindo
Source: BusinessWeek
Subject: International MBA Issues
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