On average, about a third of each full-time MBA class for the past three years has been composed of international students, together with more than 15% of our undergraduate class at the Broad College. We know high-skill immigration benefits the workforce and the global economy.
However, in 2019, the United States experienced a 13.7% decline in international business school applications — a steeper decline than any other country in the world.
A new white paper from the Graduate Management Admission Council, “Early Warning Signals: Winners and Losers in the Global Race for Talent,” provides a look into the current flow of talent into specific countries, citing economic research and application data to discuss trends in different regions. Regions in which students can study and work are likely to be the winners in economic development because these places are attracting talent — which has implications for homegrown talent as well by creating hubs of innovation and economic growth.
As of Oct. 15, I have signed an open letter to U.S. policymakers in conjunction with the GMAC white paper. This comprehensive report examines the role high-skilled immigration plays in fueling the productivity and growth of different economies, the need to support mobility of talent to study and work across borders and the critical role business schools play in flagging trends that will impact the wider economy.
Calling attention to the particular challenges the United States faces, 63 CEOs and deans from a broad cross-section of business schools across the country, both public and private institutions, have also signed the open letter calling for a substantial change in the U.S. approach to high-skilled immigration. The letter expresses urgent concern that the United States does not have the high-skilled talent it needs or the capacity to train enough people with these skills to remain competitive in a global economy.
To see the letter or download the white paper, visit gmac.com/talentmobility.