Core Insights - The number of applicants for the 2026 national master's degree entrance examination is 3.43 million, marking a decline for the third consecutive year, totaling a reduction of 1.31 million applicants over three years [1] - The trend of increasing applicants, which lasted from 2016 to 2023, has reversed, indicating a significant shift in the "graduate school craze" [1] Group 1: Decline in Graduate School Applications - The number of applicants for the master's degree examination decreased from 4.74 million in 2023 to 4.38 million in 2024, a drop of 360,000, and further down to 3.88 million in 2025, a reduction of 500,000 [1] - The 2026 application numbers represent a further decline of 450,000 compared to 2025 [1] - This marks the first time in the 21st century that there has been a significant three-year decline in graduate school applications [1] Group 2: Factors Influencing the Decline - A primary reason for the decrease in applications is the declining cost-effectiveness and return on investment of pursuing a master's degree [4] - According to the "2024 China Undergraduate Employment Report" by Mycos, 48% and 45% of graduates pursue further studies for better job prospects and career development needs, respectively [4] - The increase in the number of graduate students has led to a devaluation of graduate degrees, making them less of a competitive advantage in the job market [4] Group 3: Alternative Career Paths - The trend of rationalizing graduate school applications coincides with a rise in interest in civil service examinations, with 3.718 million candidates passing the qualification review for the 2026 national exam, a ratio of approximately 98:1 for available positions [4] - In contrast, the 2025 national exam had 3.416 million candidates passing the qualification review, with a ratio of about 86:1 [4] - Additionally, vocational colleges are experiencing a surge in applications, as students prioritize skills that offer job security and certainty [5]