Published October 17, 2019
School of Management Dean Paul Tesluk signed an open letter to U.S. policymakers released today in conjunction with a new white paper from the Graduate Management Admission Council (GMAC), “Early Warning Signals: Winners and Losers in the Global Race for Talent.”
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 U.S. faces, 13 CEOs — including several UB School of Management alumni and CEOs from companies in the Buffalo Niagara region — and 50 deans from public and private business schools across the country have 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 U.S. 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.
According to Tesluk, applications from international students to School of Management graduate programs have declined by 66% since 2016, and many of the school’s graduates are recruited by companies in the region to fill key jobs.
“Attracting these individuals is critical to our growth and competitiveness — as a region and as nation,” he says. “We know high-skill immigration benefits the workforce and the global economy.”
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. The white paper 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 where students can study and work are likely to be the winners in economic development because these places attract highly skilled candidates, which has implications for homegrown talent as well by creating hubs of innovation and economic growth. Western New York is one of these regions, due in part to the important role of UB and the School of Management in attracting, educating and placing top students into companies.