Recent research conducted by CarringtonCrisp in collaboration with EFMD sheds light on evolving preferences among prospective students regarding their educational pursuits. The Tomorrow’s MBA study surveyed 2,263 individuals from 32 countries to discern their inclinations towards further academic endeavors.
Interestingly, findings reveal a shift away from the traditional inclination towards campus-based learning, with only one in five students expressing a preference for solely on-campus study. Instead, a significant portion, two in five, demonstrate a willingness to explore short non-degree courses sans academic credit, diverging from the conventional path of pursuing MBAs.
A notable trend highlighted in the study is the increasing prominence of professional qualifications, which 64% of respondents are considering over traditional MBAs. Similarly, 61% are contemplating master’s degrees, while 57% are evaluating options for continuing professional development.
Andrew Crisp, the author of the study, underscores the evolving landscape of MBA programs, emphasizing that they are not static entities but have evolved substantially over the past two decades. Crisp notes that various converging trends, including a burgeoning interest in technology and innovative study methodologies, necessitate a reevaluation of MBA offerings by business schools to remain competitive and attract high-caliber cohorts.
Among the sought-after topics, artificial intelligence (AI) reigns supreme in demand among prospective students, closely followed by technology management, data analytics, decision making, and digital transformation.
Regarding preferred modes of study, while 72% of respondents still express a desire for full-time study, a significant portion (42%) advocate for a blend of campus-based and online learning. Moreover, 24% of respondents express a preference for the flexibility to transition seamlessly between campus-based and online learning formats.
Encouragingly, there is a slight uptick in the proportion of individuals aspiring to pursue studies outside their home countries, rising from 36% to 39% since the 2023 survey. The primary impetus cited for this inclination is the perceived career-related advantages of international experience, with 86% of respondents asserting that such exposure enhances their prospects of pursuing an international career.
Among the challenges cited for not pursuing studies abroad are the inability to relinquish current employment commitments, personal circumstances precluding travel, availability of reputable domestic business schools, and financial constraints, cited by 35% of respondents.
Andrew Crisp underscores the current landscape as a “buyer’s market,” wherein students are presented with a plethora of options for professional skill development. He emphasizes the importance of educational institutions adapting to cater to individualized learning preferences, leveraging technology to offer flexible and tailored learning experiences. Crisp asserts that business schools capable of aligning their MBA programs with these evolving needs are poised for success, while those resistant to adaptation may encounter challenges in attracting prospective students.
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