Updated: Tuesday, September 22nd, 2009

Applications for MBA programs across the globe have increased in the past year, according the Graduate Management Admission Council (GMAC).

The GMAC Application Trends Survey reported that 66 percent of full-time MBA programs have seen an increase in applications since last year. One year, full-time programs proved the most popular and saw a 69 percent increase in applications.

Part-time MBA programs, however, saw a decline in applications this year, as 42 percent reported an increase in applications in 2009 as compared to the 60 percent that reported higher applicant volumes last year.

Executive MBA programs - which are intended for more experienced business professionals - saw the greatest decrease in applications, falling by 25 percent overall since 2008. Researchers attributed this decline to the economy's impact on the availability of personal and company funding for tuition.

Dave Wilson, president and CEO of GMAC, said the overall increase in applications to MBA programs "underscores that earning a graduate business degree gives people an edge in the job market that endures despite the economic cycle."

PayScale.com, a research company, says that average salaries for those who graduated from MBA programs ranged from $73,510 to $171,583 in 2008, depending on the field, position and years of experience.

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