According to recent findings released by the Graduate Management Admissions Council, the growth MBA programs have been experiencing over recent years may be slowing down.

Less than 45% of full-time MBA programs reported an increase in applications, compared to 77% two years ago, and 66% last year. Part time programs reported applications are comparable to last years numbers.

One program area that is experiencing growth are the Executive MBAs, with 59% of these programs reporting an increase in applications this year – compared with only 37% in previous years.

“The findings from this survey underscore the importance of flexibility and creativity in delivering management education,” said Dave Wilson, president and CEO of GMAC.

“People can always derive great value from going to business school; our surveys attest to this fact. But many changing factors affect the kinds of programs that best meet their needs. Applicants need to find the very best fit for their own game plan.”