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LinkedIn, the career-focused networking site, this week released new research on the decision-making process of prospective master's and M.B.A. students. The study, which was based on survey responses from 1,627 LinkedIn members, found that respondents had an average short list of only three institutions. About three-quarters of prospective students developed their short list before reaching out to a representative at those institutions. And 93 percent ended up enrolling in a college on the list.

Peer groups and professional networks are significant influencers on prospective students' decision about where to enroll, the study found, second only to an institution's website.