Graduate study: Trends to Watch in 2010

The start of a new year always coincides with a time for review and reflection. We often make New Year's resolutions and this is no different in the world of education and careers, especially after a year like 2009. With the global financial crisis plunging much of the world into recession, international grad school education is likely to be one of the few sectors that continue to grow in 2010 - and, for those interested in studying abroad, the prospects look very good. With more countries looking for international students and an increasing number of universities prepared to invest their own funds in scholarships to secure the top candidates, students stand to benefit from a wide range of options in 2010 and beyond.

According to James Richardson, Director of the International Office at the University of Hull in the UK, there is little doubt that the demand for international graduate study is likely to remain strong in 2010 and 2011.  "We have continued to see a rise in interest in our masters programs in particular and early evidence gives no indication that this is going to change.  With the UK employment sector becoming a little more difficult for those graduating with a bachelors degree, graduate programs offer a perfect alternative for those wishing to develop their subject interests in more detail and be ready for their career when the economy improves."

"In 2009 the employment of those graduating from US bachelor programs hit rock bottom"

The nature of the international labour market is certainly one of the key factors driving the renewed interest in masters and PhD programs.  A report released in December 2009 by Michigan State University in the USA, underlines how much the situation has changed for many new graduates. According to the report, in 2009 the employment of those graduating from US bachelor programs "hit rock bottom," with initial estimates that employers would reduce their employment of new graduates by between 8% and 10% proving inaccurate. In fact, the data indicates that they actually reduced their targets by between 35% and 40%.  The situation is not confined to the US alone, with the European press reporting similar developments in France, Italy and Germany.  In July 2009, the Association of Graduate Recruiters (AGR) in the UK reported that advertised graduate vacancies had reduced by 25% in a year and an average of 48 new graduates were competing for each available job.  The Higher Education Careers Services Unit additionally confirmed in November 2009 that graduate unemployment had increased by 44% in a year, with figures reaching their highest level in 12 years. With reduced employment prospects prompting many more students to consider further study, 2011 is likely to see the continued rise in popularity of a relatively small group of academic subject areas, many of which are vocationally orientated.  Data taken from the QS World Grad School Tour over the last three years offers a very strong indication of the consistent appeal of those subjects related to finance, accountancy, management and economics, the so-called FAME subjects, and those related to science, technology, engineering and mathematics, the STEM subjects.  Top 5 graduate subjects by world region

The appeal of these subjects looks certain to increase over the next two or three years, as students continue to recognise that the prospective return on the investment that they make in studying abroad is greater in these graduate degree subjects than in other areas.  Like many current students thinking about the future, Maria Cruz, a prospective graduate student from Colombia who attended the QS World Grad School Tour in Bogota last year, believes that now is the right time to study a subject that will enhance her future career prospects.  "The chances of getting a job at the moment seem much slimmer than before and, as I was interested in further study in an area where I felt jobs would be available in the future, going to grad school is a good way to develop skills and be ready for a job when the economy improves." Peter MacDonald, Director of the QS World Grad School Tour, is perhaps one of the best-qualified observers of developments in the demand for international graduate studies.  With plans to visit more than 50 cities in 2010 to attract thousands of international students to meet top universities offering masters and PhD programs, the QS World Grad School Tour remains the number-one source of information on study abroad for many students.  MacDonald's experience in 2009 is telling.  "The economic climate in 2009 had a mixed effect on the QS World Grad School Tour.  Considerations as to whether the credit crunch and gloomy job prospects would benefit or hinder the Tour abounded early in the year.  The reality is, however, that overall registrations in 2009 were up."

"Fears about funding and gloomy job prospects served only to deter the 'casual browser'"

Perhaps more interestingly, a possible trend for 2010 will be a further increase in the quality of students considering international graduate study.  MacDonald continues, "One constant, and extremely positive development has been that feedback from our university and grad school clients in 2009 indicated that the quality of candidates attending the QS World Grad School Tour increased noticeably.  It may be that fears about funding and gloomy job prospects served only to deter the 'casual browser', and genuine, committed candidates were left with more time to discuss their study plans at our events." There is, however, no doubt that one trend will continue to develop in 2010, the support given to international students all over the world by the QS World Grad School Tour.  With plans already announced for the launch of two mini education fair tours, one in the spring in Europe and a further selection of events in the summer in India - coupled with exclusive scholarships for international graduate study totaling more than US$1.6 million - the QS World Grad School Tour continues to deliver the most up-to-date information on international graduate study opportunities. 

Keep an eye on www.topgradschool.com for the latest developments.