Want to spruce up your CV with an MBA or MSc? So does everyone else.

The Financial Times recently ran an article claiming the number of people registering to take the GMAT entry test for business schools was up 12% globally in January and February this year on the same period of 2006.

In London, however, enthusiasm for a return to education appears to be even greater.

Cass Business School says applications for its full-time finance MSc courses are currently up a massive 57% on last year. Meanwhile, London Business School says applicants for its full-time Masters in Finance programme are up 16% and the calibre of candidates is higher.

Susan Roth, director of the specialist masters programme at Cass Business School, has an inkling of the cause of the stampede: “The current financial climate is almost certainly contributing to the increase, as during a time of economic downturn people tend to go back to business school to make themselves more competitive.”

Logan Naidu, a consultant at recruitment firm Cornell Partnership, says now’s a good time to be a student: “If you’re thinking of doing a two-year MBA, now’s the time to do it. You’ll come out when things are improving for the better.”

If you opt to do a one-year MSc, you may, however, come out when things are considerably worse.